Telangana’s G Vivek caught in Rs 100 Cr scam

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The Enforcement Directorate has created a ripple in the context of Telangana politics with the latest unearthing with regard to a company belonging to Telangana-based politician, G Vivek, who hails from the Congress party.

“ED investigation revealed that the bank account of MIs Vigilance Security was being used to circuitously transfer money with no real business rationale and that Dr. G. Vivek, his wife and their company Visaka Industries had transactions of more than Rs. 100 Crore with M/s Vigilance Security. The entity declared mere Rs. 20 lakhs as ‘revenue from operations’ in its latest balance sheet whereas it reported assets worth Rs. 64 crore mainly in the nature of long term loans/advances.” the statement from the ED read after the preliminary investigation.

Further investigation is underway now with G Vivek being the prime accused in the same.

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