HYDERABAD: The High Court of Telangana reserved its orders in a plea filed by the Enforcement Directorate (ED) challenging the orders passed by the Metropolitan Session Judge, Hyderabad, which refused judicial remand of Kancharla Srihari Babu, prime accused in the Insurance Medical Services (IMS) scam.
The counsel for ED informed the court that the Director-General of Anti Corruption Bureau, Telangana, has registered eight FIRs against officials of Insurance Medical Services, Telangana, and other private persons.
He also informed the court that during the investigation, ED officials found that Insurance Medical Services officials and a handful of suppliers have derived proceeds of the crime in the form of movable and immovable assets in their names as well as in the names of their family members.
He also informed the bench that Srihari Babu has been identified as the main conspirator and received proceeds of the crime to the tune of Rs 135 crore. After hearing the case, the bench reserved its order.