Enforcement Directorate attaches Rs 40 cr assets of controversial granite firm
Enforcement Directorate attached lands and buildings in Chennai and Madurai, and fixed deposits belonging to Madurai-based Olympus Granites – reportedly linked to ousted DMK leader and former Union Minister MK Alagiri’s son, Dhayanidhi Alagiri – for allegedly mining a land leased by State-owned Tamin. The value of the properties is estimated to be Rs 40.34 crore.
By : migrator
Update: 2019-04-24 19:53 GMT
Chennai
The agency initiated an investigation under the Prevention of Money Laundering Act (PMLA), 2002, to identify the crime proceeds based on the FIR and charge sheet filed by the State police against the company, its promoters and directors, and other individuals. They were charged with offences under the Indian Penal Code, 1860, Explosive Substances Act, 1908, etc.
In its press statement, ED named Dhayanidhi and S Nagarajan as the shareholders in the company, who, it charged, entered into a criminal conspiracy with the other accused to illegally mine the adjacent land leased by Tamil Nadu Minerals Ltd (Tamin) that caused loss to the government.
According to the central agency, their investigation revealed that the company directors had committed offence and derived proceeds from the sale of granite quarried illegally, which was camouflaged in the organisational system as business income/earnings.
Accordingly, 25 movable and immovable properties were identified, it said in the release, adding that these properties, worth Rs 40.34 crore, were provisionally attached under PMLA.
Olympus Granites – and Dhayanidhi – had come under the scanner for illegal quarrying of granite about eight years, when the then Collector, U Sagayam, detected a scam and recommended action.
In his report, Sagayam had named Olympus Granites, PRP Exports and Sindu Granites as some of the quarrying firms that were found to have been extracting much beyond what was permitted under the licence they procured from the authorities.
Though rumoured to be linked to Dhayanidhi, Alagiri had challenged SP Velumani (then in charge of Industries department) to prove this or resign from the Assembly. The minister responded that the documents were forged to show that Dhayanidhi had quit the company a year before AIADMK came to power in 2011.
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