Amaravati: The government of Andhra Pradesh has cancelled the allotment of 12.51 acres of land to Hayagreeva Farms and Developers in Visakhapatnam.
The government issued an order on Monday, cancelling the allotment made in 2008, for violation of rules.
The land was allotted by the state government for building cottages for old-age people and orphans.
However, the investigations by the Enforcement Directorate (ED) revealed that it fraudulently alienated the land and sold it to various persons, generating over Rs. 150 crore.
The government through the GO issued on Monday directed Visakhapatnam District Collector to resume the land from Hayagreeva and to utilise it for public purposes.
Last month, the ED provisionally attached immovable properties worth Rs.42.03 crores and six movable properties worth Rs.2.71 crore.
The Central agency attached the properties valued at Rs 44.75 crore under the provisions of the Prevention of Money Laundering Act (PMLA) 2002.
The ED had initiated investigations on the basis of FIR registered by Arilova Police Station, Visakhapatnam under various sections of the Indian Penal Code against Gadde Brahmaji, Gannamani Venkateswara Rao and YSR Congress Party leader and former MP MVV Satyanarayana for forging signatures, fabricating sale documents and coercion to grab 12.51 acres allotted by the state government.
Last year, the ED raided the residence and properties of former MP and YSRCP leader MVV Satyanarayana.
According to the ED, its investigation revealed that the 12.51 acres of land allotted by the State government was registered in the name of Hayagreeva Farms and Developers in 2010 after a payment of nearly Rs. 5.63 crore. However, the market value of the property as on the date of the conveyance deed was around Rs. 30.25 crore as per the records of the Andhra Pradesh Registration & Stamps Department.
The Investigation revealed that after allegedly acquiring the ownership of the land fraudulently, the accused divided the land into small plots and started alienating it from 2021 onwards by registering agreements of sale and sale deeds to various individuals. This has generated proceeds of crime of more than Rs. 150 crore, the ED said.
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