Archive · 24 Jul 2025
ED Raids in Hyderabad Over Rs 621 Crore Highway Scam
Imagine a company got a big loan to build a highway.
Instead of using the money to build the road, they secretly moved some of the money around to other companies they owned.
They pretended to be paying for work, but really, they were using the money in a way that broke the rules of the loan.
The highway project never finished, and the banks that gave the loan lost a lot of money.
Now, government investigators are looking into what happened and have raided several locations to find out more about the missing money and what the company did wrong.
ED conducted raids in Hyderabad over a Rs 621-crore bank-fraud case.
The investigation targets SEW LSY Highways Limited and its associates.
The case involves alleged siphoning of loan funds related to a highway project.
Funds were diverted through intra-group sub-contracting and used in violation of loan conditions.
The highway project was not completed, leading to a non-performing asset of Rs 621.78 crore.
- Who
- The Enforcement Directorate (ED) is investigating SEW LSY Highways Limited, its promoters, directors and associated firms.
- What
- ED is investigating a Rs 621-crore bank-fraud case.
- When
- Tuesday
- Where
- Hyderabad
- Why
- Alleged siphoning of loan funds, cheating, and criminal misconduct related to a highway project.
Allegations
No opposing sides present
Fund Misuse
Allegations
Loan funds were siphoned off.
No opposing sides present
No differing viewpoints presented in the article.
- Case Value
- Rs 621 crore
- Involved Parties
- SEW LSY Highways Limited, SEW Infrastructure Limited, Prasad & Company, directors and their firms
- Lead Bank
- Punjab National Bank
- Loan Amount
- Rs 1,700 crore
- Founded By
- Vallurupalli Nageswara Rao