The Enforcement Directorate on Wednesday provisionally attached assets worth over Rs 40 crore in connection with a case of illegal mining that allegedly involves the son of expelled Dravida Munnetra Kazhagam leader MK Alagiri, PTI reported. The properties were attached under the Prevention of Money Laundering Act.
The agency attached 25 moveable and immovable properties in Madurai and Chennai, as well as fixed deposits of Olympus Granites Private Limited in an illegal granite mining case. Dayanidhi Alagiri was earlier a director of the company.
The investigation is based on a case and a chargesheet filed against the company by the Tamil Nadu police under the anti-money laundering law to identify the proceeds of the crime. The company’s promoters and directors were also booked.
The inquiry showed that the company and its promoters committed a scheduled offence and derived proceeds of crime by indulging in illegal quarrying, the Enforcement Directorate said. The trade proceeds of the company were further incubated, resulting in accruals of proceeds of crime, all of which were shown as business earnings, the agency said.