Hyderabad: The Directorate of Enforcement (ED) officials filed a Prosecution Complaint (PC) under the provisions of Prevention of Money Laundering Act (PMLA), 2002, against Sree Venkateswara Industries and its partners in the Metropolitan Sessions Judge-Cum-Special Court, Cyberabad. The court has taken cognizance of the charge sheet.
The ED initiated PMLA investigation on the basis of a complaint filed by the Telangana State Pollution Control Board (TSPCB) in the Metropolitan Magistrate Court, Cyberabad at Medchal, Telangana. As per the complaint, Sree Venkateswara Industries was disposing hazardous waste material without proper treatment in violation of the prescribed rules and regulations, stipulated by the TSPCB under various sections of Water (Prevention and Control of Pollution) Act 1974 and Air (Prevention and Control of Pollution) Act.
The ED investigation revealed that Sree Venkateswara 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 treatment, storage and disposal facility of Hyderabad Waste Management Project. Instead, the firm disposed the hazardous waste by giving it to brick manufacturers. Investigation also revealed that by committing the said offence, the firm and its partners generated proceeds of crime amounting to Rs 90 lakh.
Earlier, ED had attached fixed deposit amounting to Rs 90 lakh in the name of Sree Venkateshwara Industries under the provisions of PMLA.
