ED files chargesheet on Som Phytopharma under PMLA

U Sudhakar Reddy / Sep 14, 2024, 04:16 IST

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ED files chargesheet on Som Phytopharma under PMLA

Hyderabad: The Enforcement Directorate Hyderabad zonal office has filed a prosecution complaint against Som Phytopharma (India) Limited and its managing director Devanur Ramaswamy Iyengar Venkatesh in the PMLA special court in Nampally. The chargesheet was filed under the provisions of the Prevention of Money Laundering Act.
The court gave cognisance to the prosecution complaint on Sept 12.ED initiated the investigation against Som Phytopharma based on a complaint filed by the Telangana Pollution Control Board.
Som Phytopharma violated the mandatory guidelines of TGPCB laid down for disposal of liquid effluents generated during the production of bio-fertilisers/bio-pesticides and thereby committed offences, ED alleged. ED investigation revealed that as per TGPCB guidelines, Som Phytopharma was supposed to establish a pre-treatment plant for treating the effluents before sending them to the common effluent treatment plant.
However, the company failed to do so and was carrying on its business, thereby endangering nature and causing water and air pollution, which resulted in the passing of a closure order by TGPCB against the company.
The investigation revealed that by committing scheduled offences, Som Phytopharma derived proceeds of crime which were later used by it in its business activities.

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About the Author

U Sudhakar Reddy

Sudhakar Reddy Udumula is the Editor (Investigation) at the Times of India, Hyderabad. Following the trail of migration and drought across the rustic landscape of Andhra Pradesh and Telangana, Sudhakar reported extensively on government apathy, divisive politics, systemic gender discrimination, agrarian crisis and the will to survive great odds. His curiosity for peeking behind the curtain triumphed over the criminal agenda of many scamsters in the highest political and corporate circles, making way for breaking stories such as Panama Papers Scam, Telgi Stamp Paper Scam, and many others. His versatility in reporting extended to red corridors of left-wing extremism where the lives of security forces and the locals in Maoist-affected areas were key points of investigation. His knack for detail provided crucial evidence of involvement from overseas in terrorist bombings in Hyderabad.

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