HYDERABAD: The Telangana High Court on Monday granted relief to Koneru Madhu and Pradeep by quashing the ED summons against them in the Emaar Properties scam. Senior attorney D Prakash Reddy, who represented the petitioner, stated that attaching properties in the name of ill-gotten money was unconstitutional. Attaching the Insurance Policy Amount in 1998, he claimed, was against the law.
The ED cannot seize the petitioner’s assets and it is unlawful, regardless of its contention that illegalities of `96 crores had taken place, he contended. He argued that the ED has found no evidence against him, and the investigative agencies said that two Emaar plot purchasers, Parthasarathi and Challa Suresh, placed Rs 1.05 crore and Rs 65 lakh in Madhu’s Dubai bank account, respectively.
Investigators said this was done at the behest of prime suspect Koneru Rajendra Prasad. Madhu is Prasad’s son. In the case of Madhu, senior attorney Prakash Reddy contended that the ED never said that Madhu was a member of any money laundering plan.