New Delhi, Oct. 9 -- The Bengaluru Zonal Office of the Enforcement Directorate (ED) has provisionally attached an immovable property valued at Rs 42.45 lakh belonging to Saravana Prasad.
This action is part of an investigation into fraudulent accounting practices by Innovative Studios Private Limited.
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA) based on a prosecution complaint filed by the Registrar of Companies (ROC), Bangalore, before the Special Court for Economic Offences in Bengaluru.
Investigations revealed that during the financial year 2015-16, Innovative Studios Pvt. Ltd. fraudulently declared expenditures totaling Rs. 1.49 crore in the names of Amogha Enterprises and Milae Technocraft ...