HYDERABAD: The Enforcement Directorate (ED) has registered an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA) against the Hyderabad Cricket Association (HCA) president A Jaganmohan Rao and four others, based on a CID investigation into alleged misuse of funds and forgery within the association.
Sources said the ED’s ECIR is based on an FIR and investigation reports filed by the Telangana CID, which had earlier flagged irregularities in funds received from the Board of Control for Cricket in India (BCCI).
Apart from Jaganmohan, the accused include Srinivas Rao, Rajendra Yadav, Sunil Kante and G Kavitha. The ED suspects large-scale financial irregularities and fund diversion within the HCA, in violation of PMLA and FEMA provisions.
Sources said the ED is likely to seek custody of the accused by filing a petition in the special court once the CID concludes its custodial interrogation.