Telugu filmmaker Allu Arvind was questioned by the Enforcement Directorate (ED) in Hyderabad for more than three hours, with a bank fraud and money laundering case of Rs 101.4 crore associated with Ramakrishna Electronics and Ramakrishna Teletronics (RTPL).

ED’s Hyderabad Zonal Office discovered in Hyderabad, Kurnool, and Ghaziabad, examining the alleged turn of its investigation and misuse of the loan fund. An investigation was initiated from a complaint by Union Bank of India (East Andhra Bank), which accused the group of cheating the bank by removing the sanctioned loans for criminal objectives.

The case is based on an FIR registered by the Central Investigation Bureau of Investigation Bureau (CBI) in Bengaluru, against Ramakrishna Electronics, RTPL, and his directors/partners, V Raghavendra, V Ravi Kumar, and others.

The group, which was in the business of trading and marketing mobile phones, allegedly took advantage of the facility of an open cash credit (OCC) and diverted the funds through a web of inter-group transactions and payments to promoters and their family members.

See also

Entertainment

SWAT Season 8 update: Hondo’s wife Nichelle will appear despite new role; Everything we know so far

During the discoveries, Ed has seized documents related to assets related to crimes, purchased with the income of crime, recovering a gathering of about Rs 1.45 crore in bank accounts of the accused and their companies, and records of digital equipment and foreign payments.

According to the agency, brothers vs. Raghavendra and V Ravi Kumar were the major figures in the group, allegedly orchestrated the misuse of money in coordination with others.

Investigation is on.