Media has been airing/ publishing the news pertaining to the Arrest of Avasarala Venkateshwara Rao by The Enforcement Directorate. The news indicates that his arrest is under prevention of Money laundering act as well as his involvement in money laundering and cheating public Sector Banks. The Agency which arrested Rao i.e. Enforcement Directorate in its press release has indicated Rao’s involvement in the crime. Mr.Avasarala Venkateshwara Rao is erstwhile Promoter as well Managing Director of SERVOMAX INDIA PRIVATE LIMITED which is under Liquidation.
Unfortunately some of our media friends andwell-wishers has inadvertently mistook Mr. Rao’s Companyname as SERVOMAXLIMITED, instead of SERVOMAX INDIA PRIVATE LIMITED. Our logo has also been exhibited while airing / reporting the news of Rao’s arrest by ED, the oversight and erroneously highlighting Our Logo while reporting the arrest, raised concern among our esteemed customers as well as General Public.
The Management of SERVOMAX LIMITED, hereby clarify that neither SERVOMAX LIMITED its Board of Directors nor shareholders has no relation with Mr. AVASARALA VENKATESHWARA RAO or his company SERVOMAX INDIA PRIVATE LIMITED which is being investigated by ED as well as CBI.
We have lodged a complaint against Mr. AV RAO at jubilee hills police station, Hyderabad on 21-12-2018 for forgery, Fraud and misuse of our logo in his invoices , on the basis of the Complaint Lodged by SERVOMAX LIMITED a crime was registered , investigated and Mr. Rao was arrested by jubilee hills Police , thereafter the Investigating officer has filed the Charge memo before the Hon’ble XVII AddlChief Metropolitan l Magistrate Arraying Avasarala Venkateshwara Rao as 1 accused in the above Crime . To the best of our understanding the Case CC /20878/ 2019 ispending trial.