Hyderabad: The Enforcement Directorate (ED) questioned Tollywood producer Allu Aravind on Friday about a Rs 101.4 crore bank fraud and money laundering case involving Ramakrishna Electronics and Ramakrishna Teletronics (RTPL).
Officials interrogated Aravind for over three hours regarding his possible connections to these firms. The companies are accused of taking large loans from Union Bank of India during 2018-19, totaling Rs 101 crore, which were allegedly used for personal benefits instead of business needs.
Investigations revealed Aravind’s involvement in property and financial transactions linked to the companies. After this questioning, the ED summoned him again to appear next week.
The ED’s office in Hyderabad searched multiple locations, including Hyderabad, Kurnool, and Ghaziabad, to investigate the misuse of loan funds. They seized property documents bought with illegal money, froze around Rs 1.45 crore in bank accounts, and recovered digital devices and foreign payment records.
V Raghavendra and V Ravi Kumar, siblings, are identified as the main suspects. They allegedly misappropriated the loans with the help of others.
