Hyderabad: The Enforcement Directorate (ED) on Tuesday has seized Rs 24.50 lakh from a business man Gorakavi Praveen Kumar, who is alleged to be an associate of Buchi Babu. Buchi Babu was the former auditor of BRS MLC Kalvakuntla Kavitha.
The ED in September conducted searches at Praveen’s residence at Kavadiguda in Hyderabad. In addition to the cash, the ED officials have also seized documents showing agreements and MoUs Praveen owned GRKV bio fuels made with other parties.
Buchi Babu’s name surfaced in the Delhi liquor scam probe and he was also named in the charge sheet filed by the investigating agency.
The seized cash allegedly belongs to Butchi Babu. According to sources, ED has also seized some important documents from Praveen’s residence under the provisions of the Prevention of Money Laundering Act.
The sources said Chief Vigilance Comission and ED Delhi is enquiring about the possibility of Rs 5 crore being routed to a Dubai firm and Rs 50 lakh to a wealth management firm by Praveen Gorakavi acting on behalf of Butchi Babu.
Praveen Gorakavi is a co-founder of Phi Factory and is allegedly involved into many fraudulent practices.
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