Attachments not new

May 18, 2012 |

Hyderabad

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Courts attaching the properties of individuals and companies accused in fraud cases, based on the pleas of state or Central governments to prevent the transfer and misuse of the properties is not new. State agencies like ACB, CID, CCS and Central agencies like CBI have, in many instances, asked the governments to file applications in courts to issue either interim attachment order or absolute attachment.

Attachment is done under The Criminal Law Amendment Ordinance 1944 and Prevention of Money Laundering Act, in case of fraud, criminal breach of trust, corruption and money laundering. Under PMLA, only ED is authorised to do so. In case of depositors of chit companies and financial institutions, the attachment can be done under AP Protection of Depositors of Financial Establishments Act.

Under CLAO, home department has earlier issued GOs authorising former Saroornagar ACP L.K. Shinde to file an application in chief metropolitan magistrate court of Cyberabad to attach the properties of Surya Real Estate Private Limited MD K. Manoj Reddy, alleging he has acquired the assets by misappropriating public money in 2008.

Similarly, permission was accorded to South Zone police in Hyderabad to attach the properties of V.V.S.R. Narasimha Rao and Ch. Satya Mohan under the same ordinance, when they allegedly duped AP State Trading Corporation after entering into an MoU. In many cases, ACB has attached the properties of those facing disproportionate assets case. In the latest case, on March 3, 2012, government has authorised ACB to file application in the court of principal special judge for ACB cases regarding alleged illegal assets case of A. Ramu alias A. Ramu Naik, deputy collector and district manager of Chief Rationing Office of Secunderabad.

State has attached properties of accused in several cases of chit and financial frauds under the AP Protection of Depositors of Financial Establishments Act. On January 30, 2012, the home department issued orders attaching the properties of Sri Marketing Private Limited MD Chavan Eshwar alias Premji and his legal heirs. Also, properties of G. Bhasker Rao, MD of Bharani Saswatha Sahaya Nidhi in Malkajgiri and his wife were attached.

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