ED attaches assets worth Rs 90 L of Sree Venkateshwara Industries

New Delhi, Aug 31 (IANS) The Enforcement Directorate (ED) has attached fixed deposits worth Rs 90 lakh of Hyderabad-based Sree Venkateshwara Industries in connection with a money laundering case.

The ED initiated PMLA investigation based on a complaint filed by Telangana State Pollution Control Board (TSPCB) in the Court of Metropolitan Magistrate, Cyberabad at Medchal, Telangana.

As per the said complaint, Sree Venkateshwara Industries was disposing hazardous waste material

without proper treatment in violation of the prescribed rules and regulations which were stipulated by the TSPCB under various sections of Water (Prevention and Control of Pollution) Act and Air (Prevention and Control of Pollution) Act.

The ED investigation revealed that Sree Venkateshwara Industries and its partners did not comply with the statutory requirement of treatment of hazardous waste generated in their premises and did not send the same to the Treatment, Storage and Disposal Facility of Hyderabad Waste Management Project.

"Instead, the firm disposed of the hazardous waste by giving it to brick manufacturers. Investigation also revealed that by committing the said offence, the firm and its partners generated proceeds of crime amounting to Rs 90 lakh which has been provisionally attached during investigation,"

said the official.

Further investigation is under progress.

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