HYDERABAD: The Directorate of Enforcement (ED), Bengaluru, conducted searches at multiple premises in Hyderabad and Chennai as part of a money laundering investigation linked to an organised clandestine ketamine manufacturing and trafficking network.
The probe stems from an Enforcement Case Information Report (ECIR) registered on the basis of a prosecution complaint filed by the NCB, Bengaluru, under the NDPS Act. The predicate offence relates to the seizure of 26.75 kg of ketamine from J Kannan in Bengaluru on April 30, 2019, followed by the recovery of 25.45 kg from a clandestine laboratory allegedly operated by Shivaraj Urs alias Mahesh Uthappa on May 1, 2019.
According to the ED, the investigation revealed that Putta Venkateshwarlu arranged raw material from the R&D Centre of Inchem Laboratories Pvt. Ltd. in Hyderabad and allegedly supplied ketamine intermediates and technical know-how to Mahesh Uthappa for manufacturing the drug.
The agency alleged that the accused — J Kannan, Mahesh Uthappa and Putta Venkateshwarlu — are habitual offenders with previous involvement in the illegal manufacture, sale and transport of ketamine.
The ED further alleged that proceeds from the illicit trade were routed through cash and hawala channels and used to acquire movable and immovable assets, invest in companies and meet personal expenses.
During the searches, officials seized Rs 82.82 lakh in cash, USD 18,000 in foreign currency, besides digital devices, mobile phones, financial and business records, property documents and other incriminating material. Further investigation is under way.