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Tag: #Hyderabad

Global

Syneriq Global Launches AI-First Global Capability Centre in Hyderabad

Hyderabad, March 12 — Syneriq Global has inaugurated its AI-First Global Capability Centre (GCC) in Hyderabad, marking a significant milestone in the city’s evolution as a hub for AI-driven innovation. Telangana IT Minister D. Sridhar Babu lauded the initiative, emphasizing its role in propelling Hyderabad towards becoming a global leader in AI product development.

“Artificial Intelligence is embedding itself deeply in every industry and aspect of life. Hyderabad has the talent, and we must transition from merely coding to developing and exporting AI products worldwide. The city should establish itself as a Global Value Centre,” Sridhar Babu stated at the launch event.

The ₹50-crore investment in the new GCC will accelerate Syneriq Global’s expansion, with plans to double its workforce to 1,500 employees and target $150 million in revenue. The 40,000-square-foot facility will serve as an AI innovation hub, focusing on product engineering, research, and incubation for AI-driven startups.

Syneriq Global’s founder, Sudhakar Pennam, highlighted the company’s AI-powered platforms, including Zyrix, KITAP, and DQ Gateway, which were developed at its Hyderabad innovation lab. The facility aims to foster cutting-edge advancements in AI and deep-tech solutions.

Telangana has witnessed a surge in Global Capability Centres across various industries, a trend actively supported by the state government. Sridhar Babu noted that Hyderabad already hosts over 300 GCCs, collectively employing more than two lakh professionals.

Madan Mohan Rao, MLA from Nizamabad, emphasized Hyderabad’s growing prominence in AI and deep-tech sectors, predicting a strong economic future for the city. “GCCs like this are setting the stage for Hyderabad to surpass other major tech cities. The state government is proactively securing investments and strengthening infrastructure to support this transformation,” he added.

As part of broader AI-focused initiatives, Telangana is planning a 200-acre AI city, further reinforcing Hyderabad’s reputation as a global technology powerhouse.

Source:deccanchronicle

ED Attaches Assets Worth Rs 8 Crore in Hyderabad Illegal Drug Export Case

In a significant crackdown on illegal drug exports, the Enforcement Directorate (ED) has provisionally attached assets worth Rs 8 crore linked to an illicit internet pharmacy operation in Hyderabad. The case, which has been under investigation since May 2022, has exposed a web of financial irregularities and illegal drug trade disguised as a legitimate business.

The Investigation Unfolds

The probe began after the Narcotics Control Bureau (NCB) registered an FIR against Aashish Jain, the alleged mastermind behind the operation. Jain operated JR Infinity Private Limited, which was purportedly engaged in telemarketing and search engine optimization services. However, authorities discovered that the firm was covertly exporting psychotropic substances, including Alprazolam, Zolpidem, Lorazepam, Clonazepam, Hydrocodone, and Oxycodone.

NCB’s searches led to the seizure of Rs 3.7 crore in cash, along with crucial evidence pointing to large-scale drug trafficking. As the case progressed, the ED stepped in to investigate the financial trail linked to the illegal business.

Attached Assets and Money Trail

The Enforcement Directorate’s probe revealed that before establishing JR Infinity Private Limited, Jain and his family members received over Rs 4.5 crore in foreign remittances through their personal bank accounts without any legitimate business transactions. These funds, along with proceeds from drug sales, were allegedly laundered into real estate investments and fixed deposits.

In its latest action, the ED has attached 22 immovable properties, including land parcels in Indore, Madhya Pradesh, valued at Rs 6.5 crore. Additionally, 8 movable assets, including bank balances and fixed deposits amounting to Rs 1.46 crore, have been seized. The total proceeds of crime in the case are estimated at Rs 12.7 crore.

Crackdown on Illegal Internet Pharmacies

The case sheds light on the growing threat posed by illegal internet pharmacies, which exploit digital platforms to distribute controlled substances across borders. By masquerading as legitimate businesses, these networks not only fuel drug abuse but also engage in money laundering and financial fraud.

The ED’s swift action underscores the agency’s commitment to dismantling such illicit operations and bringing offenders to justice. With increasing scrutiny on online pharmaceutical businesses, authorities are expected to tighten regulations and enhance monitoring mechanisms to prevent the misuse of e-commerce platforms for drug trafficking.

Final Analysis

The Hyderabad illegal drug export case is a stark reminder of the complexities involved in tackling modern-day financial crimes and drug trafficking. The attachment of assets worth Rs 8 crore is a crucial step in holding perpetrators accountable and recovering illicit proceeds. As investigations continue, authorities remain vigilant in curbing illegal activities that threaten public health and national security.