Under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the Directorate of Enforcement (ED), Hyderabad, has attached various immovable properties worth Rs. 94.44 Lakh and movable properties worth Rs. 23.20 Lakh (in the form of bank balances) belonging to Molugu Vijai Kumarr and his family members. The total estimated value of these properties is Rs. 1.17 Crore.
The Prevention of Corruption Act of 1988‘s FIR, filed by the CIU, ACB, Hyderabad, under sections 13(2) and 13(1)(e) against Molugu Vijai Kumar, Joint Director in the Boilers Department, who also had the additional responsibility of Director of Boilers, T.S., Hyderabad, served as the foundation for the ED’s probe. It was claimed that Molugu Vijai Kumarr had engaged in corrupt behaviour to amass assets that were out of proportion to his recognized sources of income. Molugu Vijai Kumar was discovered to be in possession of assets worth Rs. 2.19 crore, which was out of proportion to his known sources of income, according to the chargesheet that the ACB filed.
Molugu Vijai Kumarr and his family members spent the profits of crime in a variety of real estate, according to an ED inquiry. Molugu Vijai Kumarr concealed the illicitly obtained funds by passing them off as family members’ company profits and hand loans from other people. The ED investigation also showed that the accused had sold off a number of real estate holdings that the ACB had discovered throughout its investigation and for which the ACB had requested the seizure in its charge sheet.
Furthermore, it was discovered that the defendants had taken huge cash withdrawals from their bank accounts, which was one way they had disbursed the profits of the crime. Consequently, over the course of the inquiry, properties belonging to Molugu Vijai Kumar and his family members were located, and they were temporarily attached in accordance with the PMLA, 2002. Additional research is currently being conducted.
