New Delhi (Agency): The Enforcement Directorate (ED) took decisive action on Thursday by attaching fixed deposits worth Rs 90 lakh belonging to Sree Venkateshwara Industries. The Hyderabad-based company is under investigation for allegedly dumping hazardous waste in violation of India’s anti-pollution laws.
The ED’s actions are part of a larger case concerning money laundering. The case originates from a complaint filed by the Telangana State Pollution Control Board (TSPCB) in the court of Metropolitan Magistrate, Cyberabad at Medchal. According to the TSPCB, the company failed to follow proper treatment procedures for hazardous waste as required by Indian law.
In a statement, the ED revealed that the actions against the company were initiated under various sections of the Prevention of Money Laundering Act (PMLA). The money laundering charges stem from the company’s alleged misconduct in dealing with hazardous waste.
The TSPCB claims that Sree Venkateshwara Industries was disposing of “hazardous waste material without proper treatment.” This is a violation of several rules and regulations laid out by the TSPCB, including those under the Water (Prevention and Control of Pollution) Act of 1974 and the Air (Prevention and Control of Pollution) Act.
An ED probe found that the company and its partners did not comply with the legal requirement for treating hazardous waste produced on their premises. Rather than sending this waste to an approved treatment, storage, and disposal facility, the company allegedly gave the waste to brick manufacturers.
According to the ED, this misconduct generated “proceeds of crime” amounting to Rs 90 lakh. This sum has been provisionally attached under the PMLA as the case proceeds.
The case against Sree Venkateshwara Industries is a stern reminder of the importance of adhering to environmental laws. It also showcases the ED’s commitment to taking serious action against companies that try to profit from illegal activities, including environmental violations.
Environmental advocates hope that the ED’s actions will serve as a deterrent to other companies that might consider violating anti-pollution laws. For now, the attachment of Sree Venkateshwara Industries’ fixed deposits marks a significant step in the fight against environmental crimes in India.