The Enforcement Directorate has provisionally attached properties worth ₹106.61 crore belonging to P.K. Selvaraj of Sindhu Granites and others under the Prevention of Money Laundering Act, 2002 (PMLA) for selling illegally mined granite blocks in the international and domestic markets.
According to a press release, the proceeds from the illegal sale had been invested in about 48 properties. Earlier, the enforcement directorate had registered a money laundering case and had conducted an investigation under the PMLA against Sindhu Granites and the group of firms run by Mr. Selvaraj.
The release said that during the investigation, it was found that three firms – Sindhu Granites, Sree Laxmi Granites and Sree Murugan Granites – had been selling illegally mined granite blocks in international and domestic markets and that the sale proceeds had been utilised for acquiring immovable properties in their names.
Totally, 48 immovable properties with a value of ₹106.61 crore had been acquired from the proceeds of the illegal sale in the name of Mr. Selvaraj, his spouse and his son, and since the properties appeared to be connected to money laundering, as per the provisions of the PMLA, they were provisionally attached by the Enforcement directorate.
