New Delhi, Enforcement Directorate (ED) has provisionally attached 25 movable and immovable properties consisting of lands, buildings in Madurai, Chennai and fixed deposits totaling to Rs 40.34 crore of former union minister MK Alagiri’s son Alagiri Dayanidhi and others under Prevention of Money Laundering Act (PMLA) in illegal granite mining case, an official release said here on Wednesday.
Mr Alagiri Dayanidhi and S Nagarajan are the promoter, shareholder and director of Olympus Granites Pvt Ltd.
The central financial probe agency moves come after the registration of FIR and consequently the charge sheet filed by the Tamil Nadu Police against Olympus Granites P Limited at Madurai, its Directors, promoters and other individuals. The state police charge Sheet disclosed the commission of various offences including offences under the Indian Penal Code, Explosive Substances Act by the accused consequent to the illegal granite mining indulged by the Company and other accused.
That the Company’s share holders, promoters and directors S Nagarajan and Alagiri Dhayanidhi along with other accused, criminally conspired and indulged in illegal mining activities in the adjacent tamilNadu Minirals Limited(TAMIN) leased land and thereby causing wrongful loss to the Government and corresponding wrongful gain to themselves.
The probe agency investigation under PMLA revealed that Olympus Granites P Limited and its promotes, shareholders, directors have committed a scheduled offence and derived proceeds of crime by indulging in the illegal quarrying and the trade proceeds of the company derived there-from were further relentlessly incubated and thereby resulting in further accruals of proceeds of crime, all of which were camouflaged in the organisational system as business income and earnings, although gained out of the said illegal activity.
Accordingly, 25 movable and immovable properties were identified as part of crime proceeds and in as much as such proceeds of crime and are involved in money laundering.
The said movable and immovable properties worth of Rs 40.34 crore were provisionally attached under the provisions of PMLA.