ED attaches properties worth ₹23.54 crore in Andhra Pradesh skill development scam

The Enforcement Directorate (ED) has seized movable and immovable assets valued at ₹23.54 crore linked to the alleged misuse of funds in the Andhra Pradesh State Skill Development Corporation (APSSDC) Siemens project. This action was taken by the ED’s Hyderabad Zonal Office under the Prevention of Money Laundering Act (PMLA), 2002, reported ANI.

The Siemens project, designed to enhance skill development and entrepreneurship in Andhra Pradesh, became the focus of the ED’s investigation following an FIR filed by the Andhra Pradesh CID against Designtech Systems Private Limited (DTSPL) and other entities. They are accused of defrauding the state government by misappropriating funds intended for the Siemens project for unrelated uses.

Investigations uncovered that Vikas Vinayak Khanvelkar, Managing Director of DTSPL, Soumyadri Sekhar Bose (also known as Suman Bose), former Managing Director of Siemens Industry Software India Pvt. Ltd., along with associates Mukul Chandra Agarwal and Suresh Goyal, allegedly diverted government funds using shell companies and defunct entities.

The accused are reported to have siphoned off these funds through complex transactions involving fake invoices purportedly for materials and services.

The ED disclosed that funds were channeled through intermediaries, with commissions paid to these “entry providers.” The agency identified the proceeds of crime held by the accused and entry providers, tracing various movable properties like bank balances and shares, as well as immovable assets, including residential properties in the Delhi NCR, Mumbai, and Pune.

Previously, the ED had attached fixed deposits amounting to ₹31.20 crore belonging to DTSPL, a decision upheld by the Adjudicating Authority under PMLA. Furthermore, the ED has arrested Khanvelkar, Bose, Agarwal, and Goyal, filing a prosecution complaint before a Special Court in Visakhapatnam, which has since taken cognisance of the case.