ED Kolkata searches AMR-linked premises in Hyderabad in Jharkhand case | Hyderabad News

Hyderabad: The Enforcement Directorate’s Kolkata unit on Friday conducted searches at premises linked to AMR India Limited, promoted by Hyderabad-based industrialist A Mahesh Reddy and his family, as part of an investigation connected to a case involving SREI.The Enforcement Directorate conducted searches under the Prevention of Money Laundering Act at premises linked to Odisha-based company and its associated entities. The searches covered Kolkata, Chennai, Bengaluru and Hyderabad.The premises were linked to ARSS Group’s former The action also covered AMR Group, linked to its promoter Mahesh Kumar Reddy Althuru.The investigation concerns alleged fraudulent or irregular loans obtained from SREI Infrastructure Finance Ltd and SREI Equipment Finance Ltd and their subsequent non-repayment. The ED is examining suspected evergreening, diversion and round-tripping of funds.In Hyderabad, ED officials searched premises in Kamalapuri Colony, where AMR India Limited has its registered office. Sources in the agency’s said the operation was being conducted by officials from the Kolkata unit. Searches were also carried out at other locations as part of the same operation.AMR India Limited is involved in mine development and operation, contract mining, irrigation projects, roads, civil construction and industrial infrastructure.According to the company details available, A Mahesh Reddy and his family are the promoters of the company. Its registered office is located at Kamalapuri Colony, Hyderabad.

AMR premises searched by ED in 2022 too

This is not the first time premises linked to AMR have come under ED scrutiny. On February 8, 2022, teams of the ED from Delhi and Hyderabad had searched the Hyderabad office of AMR Mining.That previous action was connected to a reported ₹60-crore transaction being examined in a Jammu and Kashmir-linked matter.