The Enforcement Directorate (ED) has arrested Dandamudi Venkateswara Rao, the promoter of Sravanthi Group, along with two associates, in a significant money laundering case involving ₹284 crore (approximately $34 million USD). The investigation stemmed from an FIR in Gurugram, alleging that Rao's company, DJW Electric Power Projects Private Ltd, fraudulently obtained loans totaling ₹58 crore. The ED's findings indicated that loan repayments were misdirected to shell companies instead of legitimate lenders. Further inquiries into Sravanthi Energy Private Limited, also controlled by Rao, revealed that the company paid approximately ₹75 lakh (around $9,000 USD) monthly as consultancy fees to a shell entity, resulting in the diversion of ₹89.36 crore. Additionally, Rao and his family allegedly received over ₹139 crore in cash from bogus purchases through fake invoices. The ED has seized assets, including gold and diamond jewelry worth ₹5 crore and luxury vehicles, and issued a non-bailable warrant against Rao for his failure to cooperate with the investigation.