The Enforcement Directorate (ED) has provisionally attached immovable and movable assets valued at ₹80.05 crore as part of its investigation into alleged illegal mining by M/s Santosh Sand and Granite Supply.
The agency named proprietor Gudem Madhusudhan Reddy and his associate G Vikram Reddy, stating that they carried out excess mining in the allotted quarry and illegally extracted material from unassigned government land. Officials said this caused a royalty loss of ₹39.08 crore to the State and allowed the accused to amass an estimated ₹300 crore.
Searches by the ED led to the seizure of original property documents from the possession of Madhusudhan Reddy, and investigators said the assets stood in the names of many people who later admitted to being benami holders on his behalf. The mining licence was granted to M/s Santosh Sand and Granite Supply, but the firm allegedly subcontracted operations to M/s GVR Enterprises, a partnership of Madhusudhan Reddy and Vikram Reddy, without government approval.
Investigators found that illegally mined material was largely sold for cash and the proceeds were diverted into property purchases in benami names. Eighty one such assets worth ₹78.93 crore have been attached. Fixed deposits of ₹1.12 crore linked to payments due to M/s GVR Enterprises were also identified as proceeds of crime and attached. The ED said further investigation is in progress.
Published – November 24, 2025 07:24 pm IST
