Major Crackdown: ED Provisionally Attaches Rs. 23.54 Crore in Andhra Pradesh Skill Development Scam
(Judicial Quest News Network)
The Directorate of Enforcement (ED) at the Hyderabad Zonal Office has provisionally attached immovable and movable assets valued at Rs. 23.54 Crore under the Prevention of Money Laundering Act (PMLA), 2002. This action is part of an ongoing investigation into the misuse of funds related to the Andhra Pradesh State Skill Development Corporation (APSSDC) Siemens Project, designed to enhance skill development and entrepreneurship in the state.
The investigation was initiated following an FIR filed by the Andhra Pradesh CID concerning M/s Designtech Systems Private Limited (DTSPL) and others, who are accused of defrauding the state government by diverting and misappropriating funds intended for the Siemens project.
Findings from the ED’s inquiry revealed that key figures, including Vikas Vinayak Khanvelkar, Managing Director of DTSPL, and Soumyadri Sekhar Bose (alias Suman Bose), former Managing Director of Siemens Industry Software India Pvt. Ltd., along with associates Mukul Chandra Agarwal and Suresh Goyal, orchestrated a scheme to misappropriate government funds. They utilized shell companies and conducted complex, multi-layered transactions to siphon off funds through bogus invoices for non-existent services and materials. Commission was paid to entry providers who facilitated these financial diversions.
The investigation has traced and attached various assets, including bank balances, shares, and residential properties located in Delhi NCR, Mumbai, and Pune, deemed as “Proceeds of Crime.”
This isn’t the first action taken by the ED against DTSPL; previously, the agency attached Fixed Deposits totaling Rs. 31.20 Crore, a decision upheld by the Adjudicating Authority under PMLA. The ED has arrested Khanvelkar, Bose, Agarwal, and Goyal, and has submitted a Prosecution Complaint to the Hon’ble Special Court (PMLA) in Visakhapatnam, which has already taken cognizance of the case.
Further investigations are ongoing, as the ED aims to unravel the full extent of the fraudulent activities.
