50 acres land worth Rs 5.6L cr? DVAC raids father-son duo in Tiruvallur
Apart from the father and son, the officials have also listed M Selvakumaran, former sub-registrar of Tiruttani, now under suspension, as accused in the case for not paying the prescribed stamp duty for the deals. Selvakumaran was the sub-registrar from August 2018 to December 2019.
By : migrator
Update: 2022-02-06 22:21 GMT
Chennai
Coming across a confounding instance where three land transactions were executed for a whopping Rs 5.60 lakh crore for nearly 50 acres of land in neighbouring Tiruvallur district, the sleuths of DVAC’s Chennai unit have begun a probe against the father-son duo who were party to the transactions and a Registration Department official who registered the deeds without collecting the prescribed charges which would have run into thousands of crores.
In all the three deals that were done at the Tiruttani sub-registrar office on November 29, 2019, the executant was TD Naidu, representing DD Educational and Health Trust, while the claimant was his son, Tataji, representing DD Medical and Educational Trust.
Apart from the father and son, the officials have also listed M Selvakumaran, former sub-registrar of Tiruttani, now under suspension, as accused in the case for not paying the prescribed stamp duty for the deals. Selvakumaran was the sub-registrar from August 2018 to December 2019.
Going by the claims, the price of one acre of land would work out to an astronomical Rs 11,200 crore. Also, the 11 per cent stamp duty and registration fees should have fetched the government more than Rs 50,000 crore.
As per document number 4770/ 2019, Naidu executed a deed of settlement for Rs 2.43 lakh crore for two properties measuring 21 acres, 57 cents situated in the jurisdiction of Tiruvalangadu SRO and 12 cents situated in the jurisdiction of Tiruttani SRO.
Document 4771 / 2019 is a settlement deed for Rs 72,900 crore for two properties - 6 acres, 12 cents in the jurisdiction of Tiruvalangadu SRO and 10 cents in the jurisdiction of Tiruttani SRO.
The last document, 4773 / 2019, is the settlement deed for Rs 2.457 lakh crore for two properties - 22 acres, 17 cents in Tiruvalangadu SRO’s jurisdiction and 10 cents under Tiruttani SRO.
The three documents were not executed between family members but two trusts. Hence, they should have been registered with normal stamp duty and registration fees (total 11 per cent of the value) as a sale deed, the FIR noted.
Though the sub-registrar supervised the deed settlements with a combined worth of Rs 5.607 lakh crore, he collected only Rs 87,000 as a fee, it added. The agency has registered a case under the Prevention of Corruption Act along with criminal conspiracy and cheating.
TD Naidu is already facing CBI and ED probe for allegedly duping banks and aspiring students. The sleuths said only a detailed probe would reveal the motive behind the bogus transactions.
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