PUDUCHERRY
The Enforcement Directorate (Tamil Nadu and Puducherry Zone) has attached 18 houses estimated at ₹5.42 crore and bank deposits of ₹1.09 crore belonging to Pondicherry Papers Ltd under the provisions of the Prevention of Money Laundering Act (PMLA) in a case relating to the illegal sale of land owned by the Government of Puducherry.
According to Zonal Joint Director P. Manikkavel, the Enforcement Directorate registered a case based on a Central Bureau of Investigation (CBI) first information report against the company, its directors and also certain government officials.
The allegation is that the Government of Puducherry awarded 13.84 acres of land to Pondicherry Papers Ltd. to establish a paper mill.
Conditions violated
One of the conditions of allotment was that the government would take back the land in the event company winds up its operations.
However, the company allegedly colluded with some government officials and sold the land along with their own to Navasakthi Townships Developers Private Ltd.
Of the 25 houses built on the land, 18 have been provisionally attached under the PMLA, Mr Manikkavel added.
