ED seizes ₹51.29 lakh in Hyderabad cricket funds case

The Enforcement Directorate (ED) has taken action in a case involving the Hyderabad Cricket Association (HCA). On March 18, they provisionally attached property worth ₹51.29 lakh after discovering fund misuse by HCA's office bearers. The ED's investigation found that Surender Agarwal, the former Vice President and Treasurer of HCA, received ₹90.86 lakh through illegal means. This money came from suppliers of cricket balls and gym equipment, among other items. The investigation began after several complaints were filed against HCA officials regarding the misuse of funds meant for the construction of the Rajiv Gandhi International Cricket Stadium. The ED found that HCA officials awarded contracts to three companies at inflated prices. These suppliers then transferred illegal funds back to Agarwal and his family members. For example, the company Sara Sports sent ₹17 lakh to a jeweler owned by Agarwal's wife and to Agarwal’s son under false sponsorship claims. Similar suspicious transactions occurred with other suppliers. Excellent Enterprises transferred ₹21.86 lakh to Agarwal's son and places like KB Jewellers, claiming it was a loan or for diamond purchases. Body Drench India also sent ₹52 lakh directly to Agarwal and his family, using the excuse of diamond purchases. The ED is conducting this investigation under the Prevention of Money Laundering Act, 2002.