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NRIPage | Articles | ED Investigates Siemens in Andhra Pradesh Skill Development Case, Exonerates CM Chandrababu Naidu | Get Finance & Economics News. Master Your Financial Future - NRI Page
The Enforcement Directorate (ED) has launched an investigation into Siemens concerning the Andhra Pradesh Skill Development case, which has raised serious allegations of financial mismanagement. Despite the gravity of the situation, the ED has exonerated current Chief Minister Chandrababu Naidu, asserting that there is no evidence linking him or his administration to the alleged corruption.
The inquiry stems from accusations made by the Andhra Pradesh Crime Investigation Department (AP CID), which claimed that Design Tech Systems Pvt Ltd and Siemens diverted funds intended for skill development programs. Throughout the investigation, the ED identified several individuals involved in the misappropriation of these funds, including Vikas Vinayak Khanvelkar and Soumyadri Shekhar Bose.
In a significant development, the ED has attached assets worth Rs. 23.54 crores belonging to Siemens, which includes real estate, bank deposits, and shares located in major cities like Delhi, Mumbai, and Pune. This information has been formally submitted to the court in Visakhapatnam, marking a pivotal moment in the case and reflecting ongoing efforts to combat corruption in public projects.
