The Enforcement Directorate (ED) has provisionally attached 517 immovable properties belonging to M.R. Granites and R.R. Granites, Madurai, under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). According to ED officials, these properties are valued at about ₹98 crore (as per guideline value) but their present market value is pegged at ₹200 crore.
“We have been identifying these properties for the past one year. Further investigation is in progress,” said a senior official at the ED, Chennai.
In 2013, five FIRs were registered by the Madurai district police against both the firms.
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After investigation, charge-sheets were filed by the police for alleged illegal quarrying of multi-coloured granites at Melur, Keelavalavu, Rasipuram and other places in and around Madurai by the accused, with a common objective of trespassing into the nearby areas of government’s rocky
It was also alleged that deadly explosive substances were used for carrying out illegal mining works, which is an offence under the Explosive Substances Act, 1908.
According to a statement issued by K.S.V.V. Prasad, Joint Director, ED–Chennai, it was estimated that the loss to the government exchequer and the consequent illegal gain to the accused were about ₹450 crore in this case.
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