ED arrests managing director of Hyderabad-based firm in Rs 402 crore money laundering case
India Today
The Enforcement Directorate has arrested Avasarala Venkateswara Rao, managing director of Hyderabad-based Servomax India Private Limited, under the Prevention of Money Laundering Act in a bank fraud case of Rs 402 crore.
The Enforcement Directorate has arrested Avasarala Venkateswara Rao, the promoter and managing director of Hyderabad-based Servomax India Private Limited (SIPL), under the Prevention of Money Laundering Act (PMLA) in a bank fraud case of Rs 402 crore.
The ED had initiated its investigation on the basis of an FIR lodged by the Central Bureau of Investigation against SIPL.
More Related News