ED confiscate 2 villas of Raju in Satyam case

Hyderabad : The Modi government is acting tough with the economic offenders. Two villas belonging to the family of Satyam Computers founder B Ramalinga Raju have been sequestered by the enforcement directorate sleuths. The villas are situated in splendid Aparna Palm Meadows in Gundlapochampally.

The ED also initiated the process of taking possession of 145 acres belonging to Raju’s. The villas each costing Rs.4 to 5 crores were sealed by the ED with the help of Medchal revenue and police. Around 145 acres of land in Vemavaram and Anuru villages, Thadongi Mandal, East Godavari, will also be taken in to possession. The investigations in satyam scams by ED found that crime proceeds went in to these properties.

The provisional attachment orders issued by ED on March 30,2010, under the prevention of money laundering Act and the adjudicating authority confirmed the attachments on July 21, 2010. The properties could not be confiscated as the tenants living in the villas moved the High Court and secured a stay. The petitions dismissed in October 2017, clearing the way for the ED to take possession of the properties.