Hyderabad: The Directorate of Enforcement has attached Rs 186-crore worth properties of top city-based industrialists Y. Harishchandra Prasad and P. Trivikrama Prasad of Nava Bharath Power Projects, both accused in the coal scam.
ED also attached 28 acre of land of PVP Global Ventures’ subsidiary, Adobe Realtors, in Nadergul after investigations revealed that the premium paid by the accused to the Potluri Vara Prasad group had gone into the purchase of these lands.
The CBI has recently filed a chargesheet under cheating and criminal conspiracy against the two along with officials of the coal ministry.
The ED, which had taken over the case under the PMLA, has now provisionally attached the properties. The key allegation is that the promoters of NPPL had a windfall gain of Rs 200 crore by selling the shares after the coal blocks were allotted. The company’s net worth was only Rs 22 crore initially.
Mr Harishchandra Prasad had invested the crime proceeds of Rs 45 crore in an 8.4 MW wind turbine generator company in Rajasthan.
