The Enforcement Directorate’s Mangaluru Sub Zonal Office has provisionally attached properties, including agricultural land and LIC policies valued at Rs 1.66 crore, in the names of Hariprasad Jayanna and Gajanana Wadeyar. This action is taken under the Prevention of Money Laundering Act (PMLA), 2002, in connection with the case involving Harsha Entertainment Private Limited, as per an official statement.
The ED’s attachment of properties worth Rs 1.66 crore in the names of Hariprasad Jayanna and Gajanana Wadeyar was carried out on March 23 under the provisions of the PMLA, 2002. This move is linked to the case of Harsha Entertainment Private Limited, as stated in the official release. The investigation was initiated based on an FIR from April 15, 2017, against individuals accused of defrauding investors by promising high returns and failing to deliver.
According to the Enforcement Directorate, the accused individuals, through their entities Harsha Life Light and Harsha Entertainment Private Limited, collected substantial funds from investors between 2009-10 and 2016-17. They promised returns ranging from four to six percent per month but failed to repay investors an amount totaling Rs 22.58 crore. The funds were allegedly used for trading in the stock market, film production, and other unspecified purposes.
The ED’s inquiries revealed that film directors involved in the case had received funds from the accused parties and used them for various purposes. For instance, one director, Pavan Kumar, utilized part of the funds to purchase LIC policies in his father Gajanana Wadeyar’s name, while another director, Hariprasad Jayanna, used the funds for undisclosed purposes. Consequently, assets such as LIC policies in Gajanana Wadeyar’s name worth Rs 1.31 crore and immovable property in Hariprasad Jayanna’s name valued at Rs 35 lakh have been attached under Section 5 of the PMLA.
