ACB raids kingpin's home in Rs 2.32 cr sheep scam; luxury cars seized
Hyderabad: In a dramatic turn in the Rs 2.32 crore sheep procurement scam, sleuths from the
Anti Corruption Bureau
raided the Kokapet residence of prime accused Syed
Mohiduddin
late Thursday night, sparking rumours of his arrest.
However, officials swiftly dispelled the speculation, confirming that Mohiduddin is still absconding in Dubai. The late-night operation led to the seizure of two high-end vehicles, including a
BMW
and an Innova, belonging to his family.
You Can Also Check:
Hyderabad AQI
|
Weather in Hyderabad
|
Bank Holidays in Hyderabad
|
Public Holidays in Hyderabad
Mohiduddin, managing director of Hyderabad-based Lolona livestock company, has been on the run since his name surfaced in the high-profile scam. "Our team searched his Kokapet home in the presence of family members. Mohiduddin and his nephew Ikramuddin, both wanted in the case, are still hiding in Dubai. We have initiated procedures to attach the seized vehicles," an ACB official confirmed.
So far, the ACB has named 15 individuals in the case and arrested eight. Five others have been served notices under section 41-A of the CrPC and questioned. Only Mohiduddin and his nephew remain at large. "We have issued look-out circulars and impounded their passports," said the official.
The scandal traces back to the Telangana govt's sheep rearing and development scheme (SRDS), launched in 2017 by the then BRS regime. Under the scheme, shepherd families were to receive units of 20 sheep each, subsidised at 75% by the govt. Thousands of sheep were procured from traders in Guntur and Karnataka.
The first signs of trouble emerged on Dec 26, 2023, when Gachibowli police received a complaint from S Yedukondalu, a sheep trader from Palnadu district in Andhra Pradesh. He alleged that Mohiduddin, along with his nephew Ikramuddin and two assistant directors from the state animal husbandry department—D Ravi Kumar and M Aditya Keshava Sai—approached him to supply sheep for the SRDS.
Between Aug 13 and 23, 2023, Yedukondalu and 17 other traders delivered 133 units (21 sheep each) at Vellela in Prakasam district. They submitted their bank details and Aadhaar cards to the officials, expecting payment. But the funds never arrived.
The case was soon handed over to the ACB, whose preliminary investigation uncovered a fraudulent scheme where bank accounts were opened under fictitious names or using the identities of Mohiduddin's associates to allegedly siphon off govt funds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
13 minutes ago
- Economic Times
How fake meat export deal cost Delhi NRI more than $81,000, and the suspect vanished without a trace
A Delhi businessman has been allegedly defrauded of Rs 1.3 crore by an individual posing as a successful meat exporter. The suspect, after gaining trust through fabricated documents, convinced the victim to invest heavily, promising high returns. The suspect later disappeared, prompting a police investigation into the elaborate scheme. The crime branch is currently investigating the case. Tired of too many ads? Remove Ads How it began Investment and false promises Suspect goes missing Tired of too many ads? Remove Ads Police action A businessman from East Delhi has alleged that he was cheated out of Rs 1.3 crore by a man who pretended to be a successful meat exporter. The Delhi Police crime branch has now launched an investigation into the complainant, a Non-Resident Indian ( NRI ) currently living in east Delhi, told police he met the suspect in June 2023 through a mutual friend. The man claimed to be running a profitable meat export business and showed fake documents to support his claims. Convinced by the fake paperwork, the businessman agreed to support the venture.A few weeks later, the suspect convinced the complainant to invest money, promising high returns by January 2025. Trusting him, the businessman invested large sums, including his father's life savings. The payments, totalling Rs 67.7 lakh, were made via cheques to an account belonging to someone introduced as the suspect's business October and November 2024, the suspect claimed he needed an additional $80,000 (around Rs 69.3 lakh) to handle a shipment issue in Dubai. This money was arranged through the help of a friend in the UAE and handed over to one of the suspect's contacts January 2025, a WhatsApp chat showed the suspect admitting to owing money. But when the complainant began asking for repayment, the suspect avoided contact. He eventually switched off his phone, changed his number, and even vacated the place where he had been living with the the businessman contacted the so-called manager, he was shocked to learn that the person was not part of any business partnership. He revealed that the suspect had asked him to transfer all the funds to his personal account, and the money was never used for any export on the complaint and initial findings, police found enough evidence to file a formal case of cheating. A detailed investigation is now from agencies
Time of India
16 minutes ago
- Time of India
Lenskart becomes public limited company in preparation for IPO
Omnichannel eyewear brand Lenskart has converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. This comes at a time when Lenskart is considering raising a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round. The transition to a public company is a necessary step before filing its IPO papers. The Gurugram-based company closed a $200 million secondary round in June last year at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. On February 17, ET reported that the company has set its sights on filing draft papers in May, contingent on market conditions. However, the omnichannel eyewear retailer is yet to file its draft papers. Lenskart, which won the ET Startup Awards last year, has hit an annual revenue run rate of $1 billion (Rs 8,400 crore). The company produces 25 million frames and 30–40 million lenses annually and operates over 2,500 stores across India and Southeast Asia, maintaining a strong online presence. Lenskart's conversion into a public company was first reported by the news website Entrackr. With this, the SoftBank-backed company joins startups like Shiprocket, Zetwerk, PhysicsWallah , Boat, Bluestone, and others that are preparing for IPOs. Since its inception, Lenskart has closed nearly $2 billion in funding, including secondary sales. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).
Time of India
16 minutes ago
- Time of India
Rapido cuts food delivery charges by half to counter Zomato, Swiggy
Ride-hailing app Rapido has finalised online food delivery partnership costs and terms with restaurants at nearly half the commissions from entrenched rivals Swiggy and Zomato , challenging the duopoly, people directly aware of the developments said. According to the agreed terms with industry body National Restaurants Association of India (NRAI), Rapido is expected to charge commissions in the range of 8-15% from restaurants, compared to 16-30% Zomato and Swiggy charge, the executives said. The partnership terms state Rapido will charge a fixed fee of Rs 25 on orders below Rs 400 and Rs 50 on orders over Rs 400, the people quoted earlier said. This translates to a range of 8-15% commissions from restaurants, compared to 16-30% charged by Zomato and Swiggy. Consumers will be able to place orders on the Rapido app where restaurants will be listed. "This will specially help small restaurants ," one of the executives mentioned above said. The pilot is expected to go live in June-end or first week of July, starting with Bengaluru . "We've been in discussion with Rapido over the last few months just the way we are working closely with ONDC. We are discussing a structure which is economically and democratically much more viable for restaurants to sustain," NRAI president Sagar Daryani said. He declined to comment on specific partner terms. "It's also very important for us to know our customers and the same has been candidly communicated to them," Daryani added. Allegations of data masking have been a core point of disagreement between restaurants and the large platforms. An email seeking comments from Rapido remained unanswered. The ride-hailing unicorn's bike-taxi riders currently have a select 'idle-time' arrangement with Swiggy to deliver food in select cities, but the arrangement is non-exclusive. The NRAI, which represents over 500,000 restaurants, had initiated a similar partnership with the government-backed ONDC in January, but the terms are still being ironed out amid slower traction. Recent months have seen multiple small restaurant owners calling out what they alleged are "steep charges" levied by Zomato and Swiggy. "Zomato is becoming unsustainable for small restaurant owners like us," Vandit Malik, founder, The Garlic Bread, wrote on Linkedin three weeks back. "To even be visible on the platform, I'm forced to spend Rs 30+ per order on ads. What's left? Pennies. Sometimes, not even that," he alleged. The owners of another NCR-based small restaurant, Saffroma, wrote on X last week, which went viral, that it was quitting Zomato alleging "zero payouts, mystery service charges and advertisements initiated without approval." The post has since been deleted.
