ED interrogates Allu Aravind in bank fraud case
Popular Telugu film producer Allu Aravind spent over three hours with the Enforcement Directorate (ED) on Thursday, answering questions about a major ₹101.4 crore bank fraud and money laundering case.
The investigation centers on Ramakrishna Electronics and RTPL—companies accused of misusing loans through unauthorized transactions, after Union Bank of India flagged suspicious activity.
FIR filed against companies and their directors
The CBI has filed an FIR against the companies and their directors, while ED raids in Hyderabad, Kurnool, and Ghaziabad led to the seizure of property documents bought with suspected fraud money.
Authorities also froze ₹1.45 crore in connected accounts and collected digital devices plus foreign payment records as evidence.
Case still unfolding
Investigators believe funds were shuffled through complicated company transactions, including payments to promoters' family members.
The case is still unfolding, with more people likely to be called in for questioning soon.