ED, Hyderabad has provisionally attached immovable and movable properties amounting to Rs. 23.54 Crore under the provisions of the PMLA, 2002 in a case relating to misuse of funds in the Andhra Pradesh State Skill Development Corporation (APSSDC) Siemens Project. The said project was meant to promote skill development & entrepreneurship in Andhra Pradesh.

The Directorate of Enforcement (ED) has provisionally attached properties worth Rs. 23.54 crore under the Prevention of Money Laundering Act, 2002 in a case related to the misuse of funds in the Andhra Pradesh State Skill Development Corporation (APSSDC) Siemens Project. The ED initiated an investigation based on an FIR registered by the AP CID against M/s Designtech Systems Private Limited (DTSPL) and others for cheating the Andhra Pradesh Government by diverting and siphoning off funds invested in the project for other purposes.

The investigation revealed that Vikas Vinayak Khanvelkar, Managing Director of DTSPL, Soumyadri Sekhar Bose alias Suman Bose, and their associates diverted government funds through shell/defunct entities using multi-layered transactions. They siphoned off funds under the pretext of supplying materials/services and paid commission to entry providers for the diversion of funds.

The ED has attached various movable properties, including bank balances and shares, as well as immovable properties in Delhi NCR, Mumbai, and Pune, which were identified as proceeds of crime in the hands of the accused persons. The ED had previously arrested Vikas Vinayak Khanvelkar, Suman Bose, Mukul Chandra Agarwal, and Suresh Goyal, and filed a prosecution complaint before the Hon'ble Special Court (PMLA), Visakhapatnam.

The court has taken cognizance of the case, and further investigation is under progress.