New Delhi [India], August 31 (ANI): The Enforcement Directorate (ED) has attached movable property in the form of a fixed deposit worth Rs 90 lakh of Hyderabad-based Sree Venkateshwara Industries in a money laundering case, the agency said on Thursday.

The property was attached under the Prevention of Money Laundering Act (PMLA) 2002.

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The federal agency initiated an investigation on the basis of a complaint filed by the Telangana State Pollution Control Board (TSPCB) in the Court of Metropolitan Magistrate, Cyberabad at Medchal, Telangana.

As per the complaint, Sree Venkateshwara Industries was disposing of hazardous waste material without proper treatment in violation of the prescribed rules and regulations which were stipulated by the TSPCB under various sections of the Water (Prevention and Control of Pollution) Act 1974 and Air (Prevention and Control of Pollution) Act.

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ED investigation revealed that Sree Venkateshwara Industries and its partners did not comply with the statutory requirement of treatment of hazardous waste generated on their premises and did not send the same to the treatment, storage and disposal facility of the Hyderabad Waste Management Project.

Instead, the ED said, the firm disposed of the hazardous waste by giving it to brick manufacturers.

The investigation also revealed that by committing the offence, the firm and its partners generated proceeds of crime amounting to Rs 90 lakh which has been provisionally attached during the investigation. (ANI)

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