The Enforcement Directorate has provisionally attached movable and immovable properties worth ₹40.34 crore in an illegal mining case involving Olympus Granites Pvt Ltd in which Alagiri Dhayanidhi, son of MK Alagiri, former DMK strongman and son of party patriarch M Karunanidhi, is a director.

According to an ED press release, the company, its shareholders/promoters/directors, including S Nagarajan and Alagiri Dhayanidhi, criminally conspired and indulged in illegal mining activities in adjacent TAMIN-leased land, thereby causing wrongful loss to the government and corresponding wrongful gains to themselves.

The ED had initiated investigation under the Prevention of Money Laundering Act (PMLA) against Olympus Granites to identify the crime proceeds on the basis of an FIR and chargesheet filed by the Tamil Nadu police against the company, its promoters and directors and other individuals.

Chargesheet

The chargesheet disclosed commission of various offences, including under the Indian Penal Code, 1860, and the Explosive Substances Act, 1908 by the accused consequent to the illegal granite mining indulged by the company and other accused. Investigation revealed that Olympus Granites and its promoters/shareholders/ directors derived proceeds of illegal quarrying.

The proceeds derived therefrom were further incubated, resulting in further accrual of proceeds of crime, all of which were camouflaged as business income/earnings, the ED said.

Properties attached

Twenty-five movable and immovable properties, worth of ₹40.34 crore were identified as part of the crime proceeds and provisionally attached under the PMLA.

They include land and buildings in and around Madurai and Chennai and a fixed deposit account.

Further investigations are on, the release said.

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