ED restitutes property valued at Rs. 12.73 crores in money laundering case of Chennai
A group of land grabbers had unlawfully encroached upon land situated at Saidapet Taluk, Chennai causing losses to victims : ED
New Delhi, November 12
In a significant move to restore the Proceeds of Crime to rightful claimants, the Directorate of Enforcement (ED), Chennai office, has successfully restituted property valued at Rs. 12.73 crores to victim and rightful claimant in an anti-Money Laundering case being investigated by ED.
ED initiated investigation on the basis of an FIR registered by the Central Crime Branch (CCB), Chennai. The FIR was registered on the basis of complaint of illegal land grabbing.
ED investigation revealed that a group of land grabbers had unlawfully encroached upon land situated at Saidapet Taluk, Chennai. These land grabbers subsequently sold the property to a third party by forging documents and falsely claiming ownership.
The ED issued a Provisional Attachment Order in 2017 attaching the property valued at Rs. 11.40 crores, which was later confirmed by the Adjudicating Authority.
The current value of the property stands at Rs. 12.73 crores, and its restitution to the rightful claimant and victim marks a significant step in the ED's ongoing efforts to ensure that the Proceeds of Crime are returned to those affected. ED continues to uphold its commitment to combating financial crimes and ensuring justice for victims of such crimes.
