New Delhi: The Enforcement Directorate on Friday said it has attached hotels, resorts and land parcels worth Rs 200 crore in the Andaman and Nicobar Islands as part of a money laundering probe.
These assets were “directly or indirectly” derived out of, or involved in, the Rs 500 crore fraud committed at the Andaman and Nicobar State Cooperative Bank Ltd (ANSCBL).
A total of 51 immovable properties worth Rs 200 crore have been attached after a provisional order was issued under the Prevention of Money Laundering Act (PMLA), the federal agency .
These properties stand in the names of the accused persons, their family members, close associates and companies and firms controlled by them, the ED said. It, however, did not specify as to exactly whom the attached assets belonged to. The attached properties were acquired from various landowners and farmers in the name of dummy directors and shell companies through powers of attorney to conceal the actual consideration amount, as per the agency.
The money laundering case stems from an FIR of the Crime and Economic Offences Cell of the Andaman and Nicobar police against former local MP and Congress leader Kuldeep Rai Sharma, managing director of the bank K Murugan, loan officer K Kalaivanan and hotelier Sanjay Lal, apart from some other individuals and companies.PTI
