The Enforcement Directorate, Chennai, has attached the properties of Aiswariya Rock Exports, Madurai, worth ₹44 crore under the Prevention of Money Laundering Act, 2002 (PMLA).

It is conducting investigation under PMLA on various firms/companies alleged to be involved in granite mining scam in Madurai. The Madurai police have already registered FIRs and filed chargesheets against them.

A press release says that KSVV Prasad, Joint Director, ED, Chennai, said that the directorate conducted investigation under the provisions of PMLA, against a group of firms run by Sankaranarayanan and PKM Selvam to identify the crime proceeds related to offences specified in three FIRs registered by the Tamil Nadu police against the two persons and the firms run by them.

The ED conducted investigation for the alleged offences of illegal quarrying of granites, causing huge damage to human life/government properties and unauthorised usage of explosives punishable under Indian Penal Code, 1860 as well as the Explosive Substances Act, 1908, which are scheduled offences under PMLA.

During investigations, it was found that Sankaranarayanan and Selvam utilised crime proceeds, acquired immovable properties in their personal names, in the name of their spouses and in the name of their firms. It was also noticed that the crime proceeds were also invested in certain fixed deposits.

Investigations revealed that the proceeds of crime were invested in 31 immovable properties having a market value of over ₹43 crore and in 37 fixed deposits to the tune of ₹1.52 crore. As these properties are involved in money laundering, the said 31 immovable properties and 37 fixed deposits have been provisionally attached under the provisions of PMLA.

Further investigation is in progress, the release said.

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