Days after former Union Minister and TDP leader Y S Chowdary’s premises were searched by ED and I-T officials, he hit back at the ED by uploading registration documents of six cars seized by the agency. The ED had claimed the cars were registered in the name of “dummy companies”.
Chowdary uploaded registration documents for cars such as Ferrari and Range Rover, claiming they were registered in the name of family members or functional companies.
ED sources, however, claimed that all the six cars were being used by Chowdary, but none were registered in his name.
“We have videographed the whole episode and have evidence that these cars were used by Chowdary. Our investigations show that almost nothing that Chowdary uses is registered in his name,” an ED official said.
The official added that several of Chowdary’s assets were registered in the name of employees of his company — Sujana Group. Sources said that the agency was now probing two more companies in Singapore and Mauritius, allegedly associated with Chowdary.
ED is probing an alleged case of loan defaults worth Rs 5,700 crore by the Sujana Group. The allegations have been denied by Chowdary. Interestingly, no bank has till now approached any agency with a complaint about such loan defaults.
In a statement on Saturday, the ED had said, “At the residential premises of YS Chowdhary, six high-end cars were found which are registered in the name of dummy companies. These vehicles have been seized under provisions of PMLA (Prevention of Money Laundering Act).”
Chowdary tweeted registration documents showing a Ferrari car registered in the name of Chowdary’s son Y Karthik, a Mercedes Benz registered in the name of Sujana Universal Industries, a BMW car owned by Stanhopes Coaches Pvt Ltd and a Range Rover owned by Birthplace Healthcare and Irshad Ahmed.
ED sources said that on the day of the raid, Chowdary admitted that the cars were being used by him, but they were not registered in his name. “Chowdary says he dissociated from the company (Sujana) in 2010. Then, what is the company’s car doing at his house,” an ED official said.
ED has claimed that documents recovered during searches indicate that “they (Chowdary and others) are controlling over 120 companies and most of them are non-operating or only exist on paper.”
The ED has asked Chowdary to join investigations on November 27.