The Enforcement Directorate (ED) conducted raids on Sujana Group of Industries, founded by TDP MP and former Union minister YS Chowdary, known as Sujana Chowdary, here late on Monday night.
The raids were conducted by a team of 34 ED officials at the Sujana Group office on plot no. 18 at Nagarjuna Hills in Punjagutta area, during which a huge number of documents pertaining to 120 companies operating from the same address were seized.
According to sources, documents related to a ₹1,000-crore loan fraud allegedly perpetrated by Best and Crompton company were also seized.
These documents were seized under the provisions of the Prevention of Money Laundering Act (PMLA).
Some rubber stamps in the name of this company too were seized.
The ED officials gathered evidence pertaining to transfer of money from Best and Crompton to the Sujana Group, the sources added.
A huge number of sale deeds pertaining to various properties and an amount of ₹20 lakh were also seized.
