287 properties of Satyam Raju worth RS 100 Cr attached
The Enforcement Directorate has attached 287 properties worth around Rs 1,000 crore belonging to the Satyam Ramalinga Raju , Rama Raju and Suryanarayana Raju and their spouses on the grounds that they were purchased with the proceeds of the scam-tainted money.
The attachment, made under the provisions of the Prevention of Money Laundering Act, 2002, would render these properties ineligible for any sale, mortgage and any other similar transaction.
The ED officials also seized 38 lakh Satyam shares lying with the family-floated SRSR Holdings which is said to be worth Rs 24 crore in the current market price.
The properties attached were shown as agricultural by the Rajus but in reality are prime commercial plots in and around Hyderabad, Chennai, Bangalore and Nagpur. They include the Banjara Hills Road No 14 (4,000 square feet) residence of Teja Raju, son of Ramalinga Raju. In Hyderabad, the properties are located at Bachupalli, Loyapalli, B B Palli, Vattinagunapalli and other prime locations.