ED attaches Rs 31 crore assets of DesignTech in Andhra Pradesh

HYDERABAD: Nearly two months after arresting its MD and others, the Enforcement Directorate has provisionally attached properties worth 31 crore belonging to DesignTech Systems in connection with the Andhra Pradesh Skill Development Corporation scam.
ED is probing the case under the Prevention of Money Laundering Act based on an FIR registered by AP Crime Investigation Department against DesignTech Systems and others. The accused allegedly cheated the AP government by diverting and siphoning off funds from AP Skill Development Corporation-Siemens project, which was meant to promote skill development and entrepreneurship.
ED had arrested DesignTech Systems managing director Vikas Khanvelkar and other accused — Suman Bose, Mukul Chandra Agarwal and Suresh Goyal — on March 4 who are still lodged in jail.
However, the ED probe has focused only on private companies and not covered bureaucrats and politicians so far. Several IAS officials, senior ranking officials and former ministers are facing allegations in the case.
An investigation by ED has revealed that DesignTech Systems, its director and others were in cahoots with shell entities. They also raised bogus invoices under the pretext of supply of materials.
“Part of the diverted funds was received back by DesignTech into its accounts. Proceeds of the crime in possession have been traced in the form of fixed deposits to the tune of 31 crore,” ED alleged.