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Enforcement Directorate, Madurai sub-zone, has attached 158 properties valued at ₹37.79 crore under Prevention of Money Laundering Act belonging to persons involved in granite mining scam, according to an official press release.
Enforcement Directorate conducted investigation against Kumar Granites and Kumar Exports to identify crime proceeds involved in two charge sheets filed by Tamil Nadu police before the Judicial Magistrate, Melur, says the press release from ED, Chennai.
About the scam
During investigation, it was noticed that C Periyakaruppan, K Balakrishnan and PT Subiah were running two firms — Kumar Granites and Kumar Exports — that they entered in to a criminal conspiracy along with others to illegally quarry multi-colour granite stones from non-lease hold lands. They also resorted to illegal quarrying from government ‘poramboke’ lands by removing boundary stones erected by the Revenue department.
Investigations by Enforcement Directorate revealed that two companies are selling illegally mined granite blocks in international/domestic markets in excess of declared quantity and realised the sale proceeds.
The same were re-invested in acquisition of immovable properties in their names and capital goods, and got additional revenue.
As these properties are Proceeds of Crimes, the ED, Sub-Zone, Madurai, provisionally attached them, the release said.
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