Actor Ram Charan has suffered a fresh setback in the Enforcement Directorate’s money-laundering investigation linked to the Boulder Hills villa transactions in Manikonda. The agency had attached properties purchased by Charan, former Andhra Cricket Association secretary Chamundeswaranath, and two other buyers as part of its probe into alleged financial irregularities. The buyers challenged the attachment before the Special Appellate Tribunal, seeking the release of their properties, but the tribunal declined to provide immediate relief.
Charan had reportedly purchased his Boulder Hills villa for around ₹3.86 crore, while Chamundeswaranath acquired another property for approximately ₹3.64 crore. Together, properties worth nearly ₹14 crore belonging to the four buyers had been attached following court directions. The buyers maintained that they had entered the transactions with legitimate funds and were genuine purchasers who had no connection with the alleged wrongdoing. However, the tribunal observed that determining whether they were innocent buyers or had any association with the accused parties would require a detailed examination before the competent PMLA court.
The ED has alleged that the Boulder Hills project involved irregular financial transactions, including the sale of plots without carrying out the promised development work across the large Manikonda project. The agency has also raised questions over alleged unauthorised collections and the handling of those funds. The buyers, meanwhile, claim that around 95% of their payments were made through legitimate sources and that registration problems arose because of government restrictions at the time. The tribunal indicated that if the special court ultimately finds the buyers to be genuine victims, it could consider allowing the transactions to be completed after the required payments are deposited.
