ED raids lawmaker Chowdary’s offices

Former Union minister Y.S. Chowdary’s Sujana Group of Industry has once again become the target of raids by central government agencies.

After the Income Tax department, it was the turn of the Enforcement Directorate to raid the offices of the group in Hyderabad, conducting searches at the group’s various offices.

The raids began at midnight on Friday and were still continuing yesterday.

Laundering case

ED sources said that the raids were connected with the case of money laundering involving another industrialist Srinivas Kalyan Rao, son of former CBI director K. Vijayrama Rao.

The CBI has already investigated allegations against Kalyan Rao secured huge loans of Rs3.04 billion (Dh158.34 million) from various banks and diverted the money through various shell companies. The CBI has already filed a chargesheet in a Chennai court.

Sources said that the ED’s raids were carried out on the basis of the CBI chargesheet, which shows the involvement of Chowdary, a Telugu Desam lawmaker in the Rajya Sabha, in the Kalyan Rao case.