ED to Check Sri Chaitanya Data for Money Laundering
Officials to examine cash fee collections, financial irregularities, and possible violations under PMLA.
Hyderabad: Following the income-tax raids on Sri Chaitanya Educational Institutions, Enforcement Directorate (ED) officials are likely to obtain data to check if the group of educational institutions has been involved in money laundering by accepting fees in cash from parents.
The agency officials also are verifying the details of educational institutions located at different places, fee structure of the colleges and other financial alleged irregularities.
Earlier, the ED officials registered cases against several medical colleges in Telangana and Hyderabad for indulging in violations of medical seats allotments by collecting huge fees from students and parents.
In November 2024, the ED had attached assets belonging to private medical colleges under the Prevention of Money Laundering Act (PMLA), in connection with a case of blocking of seats for PG medical admissions.
The Matwada police in Warangal registered cases following a complaint lodged by the Registrar, Kaloji Narayana Rao University of Health Sciences (KNRUHS), alleging that candidature of certain students with high NEET PG ranks was being used to block seats for PG medical admissions under the management quota.
The ED attacked the bank balances in the accounts of Chalmeda Ananda Rao Institute of Medical Sciences (Rs 3.33 crore) and MNR Medical College (Rs 2.01 crore). In the case of Malla Reddy Institute of Medical Sciences, the ED had seized unaccounted cash worth Rs 1.47 crore and froze bank balance worth Rs 2.89 crore.
