HYDERABAD: The Enforcement Directorate, Hyderabad zonal unit has filed a prosecution complaint before the Special PMLA court, Hyderabad against P Sai Komareswar and his wife P Padmavathi under the provisions of Prevention of Money Laundering Act. The court has taken cognisance of the complaint on July 30.
The agency initiated investigation on the basis of a chargesheet filed by the Anti-Corruption Bureau, CBI, Hyderabad against them for being in possession of disproportionate assets to the tune of Rs 1.26 crore (approx).
The agency stated that P Sai Komareswar, while working as an executive engineer (electrical), CPWD, Hyderabad was involved in a trap case on the allegations of demand and acceptance of bribes from a contractor to clear his bills. ACB, CBI conducted searches at his residence and several incriminating documents, cash of Rs 30.50 lakh and a locker key were seized.
On conclusion of the investigation, CBI filed a chargesheet against the couple for offences under sections 12 and 13 of Prevention of Corruption Act, 1988. The agency investigation revealed that the couple acquired four immovable properties in quick succession and payments for two properties were made in cash and from unsecured loans claimed to be availed from various individuals.
Moreover, the so-called loans were not repaid by them for more than five to six years despite having liquid assets in the form of investment in share market to the tune of Rs 1.39 crore. During investigation, the couple could not provide any justification regarding the cash seized from their premises or details of the individuals from whom the so-called loans were obtained.
Investigation revealed that the illicit money was channeled back into the banking system by projecting them as untainted funds and used for acquisition of properties. The agency had earlier attached three immovable properties to the extent of Rs 1.26 crore