HC seeks action in PACS scam
The Hindu
‘Why a report, without action?’
Additional Solicitor General of India T. Suryakaran Reddy on Thursday said that K. Srinivasa Rao, director of Madhucon Projects Limited and its subsidiary Ranchi Expressways Limited be presented before Enforcement Directorate special court again.
Presenting arguments in a petition before Justice K. Lakshman of Telangana High Court, the ASG said the ED officials, who registered a case under Prevention of Money Laundering Act (PMLA), accused Mr. Rao of misusing loans given by banks for road laying project works. But the ED court declined to remand the accused in judicial remand when he was presented before it on December 18.
The ASG said the ED court judge did not record any specific reasons for rejection of remanding the accused in judicial custody. The matter was posted to next January 3 for hearing.