In a landmark move, the Enforcement Directorate (ED) has successfully reclaimed a Rs 13 crore plot in Chennai's Saidapet area that had been illegally encroached upon by a group of land grabbers, reported TOI. This marks the first time the ED has targeted such a syndicate, which had fraudulently sold the property to a third party by forging documents and claiming false ownership.
According to TOI, the case dates back to 2009, when an FIR was filed by Chennai Police, but little progress was made until the ED took over in 2017. The agency registered a case under the Prevention of Money Laundering Act ( PMLA), traced the proceeds of crime, and attached the property. After filing a chargesheet and obtaining court approval, the ED successfully restituted the property to its rightful owner.
The current value of the plot is estimated at Rs 12.7 crore, and its return to the legitimate claimant is seen as a significant achievement in the ED's ongoing efforts to combat land grabbing and ensure justice for victims of such crimes, noted the TOI report.
The ED is currently investigating several other land grab cases across India and is working to restore stolen properties to their rightful owners. This includes the disbursement of nearly Rs 12 crore to around 22 lakh small depositors affected by the Rose Valley group's financial scam in Kolkata.
TOI reported that in August, the ED also restituted 78 flats worth over Rs 20 crore to homebuyers in Gurgaon affected by fraudulent practices of the SRS group. The agency’s efforts extend to asset recovery, including a recent case in which it allowed the sale and refund of Rs 185 crore worth of attached property from Surya Pharmaceuticals in Jammu to the State Bank of India (SBI).
According to TOI, the case dates back to 2009, when an FIR was filed by Chennai Police, but little progress was made until the ED took over in 2017. The agency registered a case under the Prevention of Money Laundering Act ( PMLA), traced the proceeds of crime, and attached the property. After filing a chargesheet and obtaining court approval, the ED successfully restituted the property to its rightful owner.
The current value of the plot is estimated at Rs 12.7 crore, and its return to the legitimate claimant is seen as a significant achievement in the ED's ongoing efforts to combat land grabbing and ensure justice for victims of such crimes, noted the TOI report.
The ED is currently investigating several other land grab cases across India and is working to restore stolen properties to their rightful owners. This includes the disbursement of nearly Rs 12 crore to around 22 lakh small depositors affected by the Rose Valley group's financial scam in Kolkata.
TOI reported that in August, the ED also restituted 78 flats worth over Rs 20 crore to homebuyers in Gurgaon affected by fraudulent practices of the SRS group. The agency’s efforts extend to asset recovery, including a recent case in which it allowed the sale and refund of Rs 185 crore worth of attached property from Surya Pharmaceuticals in Jammu to the State Bank of India (SBI).
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