ED Returns Rs 56-cr Assets to IDBI Bank
The properties had been attached during investigations into large-scale fraud involving the sanction and processing of loans under the Kisan Credit Card (KCC) scheme for the construction of fish ponds and tanks in Andhra Pradesh.
Hyderabad: The Directorate of Enforcement (ED), Visakhapatnam sub-zonal office, has completed the restitution of properties valued at Rs 56.13 crore to IDBI Bank under the Prevention of Money Laundering Act (PMLA), 2002. The properties had been attached during investigations into large-scale fraud involving the sanction and processing of loans under the Kisan Credit Card (KCC) scheme for the construction of fish ponds and tanks in Andhra Pradesh.
The loans were sanctioned by the Bhimavaram and Palangi branches of IDBI Bank. The probe was initiated on the basis of CBI FIRs registered against Rebba Satyanarayana, Kumar Pappu Singh, bank officials, and others for defrauding the bank through fraudulent KCC loans.
The ED investigation revealed that Satyanarayana and Singh acted as aggregators for KCC loans totalling Rs 181.87 crore in the names of 230 borrowers during 2010–11 and 2011–12. The duo allegedly used forged documents, impersonated borrowers and mortgaged properties belonging to their families, friends and employees to secure the loans. The funds were then diverted to purchase properties and make investments.
The total proceeds of crime were estimated at Rs 234.23 crore, of which properties worth Rs 84.93 crore were attached. The ED has filed prosecution complaints before the Special PMLA Court at Visakhapatnam, which has taken cognisance of the cases.
IDBI Bank filed applications under Section 8(8) of the PMLA seeking restitution of attached properties. The ED granted concurrence, enabling the restoration of the assets to the bank as the victim of the fraud.
We need to be pandemic-ready: Kishan Reddy
Hyderabad: Union minister G. Kishan Reddy said India must remain prepared for future pandemics and emphasised that public health is a shared social responsibility. He was speaking at the ‘Pandemic Ready India’ programme in Hyderabad. Reflecting on the Covid-19 experience, he said that although the country initially lacked adequate infrastructure, 140 crore Indians united to face the crisis. He noted that timely lockdown measures helped contain the virus and credited Mission Suraksha for the rapid development of indigenous vaccines. He added that health infrastructure was strengthened through the PM CARES fund.
Kishan Reddy said the government had transformed healthcare since 2014 through schemes such as Ayushman Bharat, PM Atma Nirbhar Swasth Bharat Yojana, the National Health Mission, and Mission Indradhanush. He said new initiatives like the Integrated Disease Surveillance Programme and the National Vector-Borne Disease Control Scheme were launched, and the number of AIIMS institutes increased to 23.
He said the number of medical colleges and MBBS seats had grown substantially, while 17,000 Jan Aushadhi centres were now providing affordable medicines. He praised the contribution of frontline workers, including doctors, nurses, paramedics and sanitation staff, during the pandemic.
As National Control Room coordinator, Kishan Reddy said he had overseen coordination efforts and credited Prime Minister Narendra Modi and home minister Amit Shah for their leadership. Domestic production of vaccines, diagnostics, PPE kits and ventilators was scaled up rapidly, he noted.
He also highlighted the success of digital platforms like CoWIN, e-Sanjeevani, Tele-Manas and the Ayushman Bharat Digital Mission, which enabled real-time monitoring of pandemic response. India supplied vaccines to over 100 countries, saving millions of lives, he said, stressing the need for continued scientific and technological self-reliance to ensure pandemic readiness in the future.
Naveen Yadav gets clean chit
Hyderabad: The Hyderabad District Election Authority has clarified that Congress candidate Naveen Yadav has not violated the Model Code of Conduct (MCC) in connection with a sewing machine distribution programme at Yousufguda.
Some media reports had alleged that the event amounted to an MCC breach. However, the returning officer found that the programme was organised by the minority welfare department and held before the MCC came into force. The authority confirmed that the incident did not constitute a violation of election norms.