The Enforcement Directorate (ED) said it has attached assets worth Rs 49.60 crore of businessman Dhanraj Kochhar and his family members in a fraud-related Prevention of Money Laundering (PMLA) case.
This is the second attachment in the said case. 69.14 crore has already been attached by the ED. With the latest attachment, a total of Rs 118.74 crore has been attached in this case.
The ED initiated the money laundering probe on the basis of an FIR registered by the CCB, Tamil Nadu Police against Kochhar, his family members and associates under various sections of the IPC for cheating and criminal conspiracy.
The ED had conducted searches at residential and business premises and bank lockers of Kochhar and his family members in 2021 and seized Indian currency and jewelery and various incriminating documents.
The ED has come to know in the investigation that one MS Hameed and Dhanraj Kochhar and one Abdul Ravoof were directors of a company – DR Foundations and Estates Pvt Ltd, which was in real estate business.
During 2005-06, property in Siruseri village under the jurisdiction of Thirupurur sub-registrar office, in 20 documents, from funds invested by Hameed and his family members and his business unit Paramount Builders in DR Foundation and Real Estate Pvt. was purchased. Ltd and were secretly transferred in the name of Kochhar and his family members.
Some of the properties were purchased by Hameed directly in his name with the money invested in the company.
Further investigation of the incriminating documents seized from the searches revealed that Dhanraj Kochhar and his family members have also duped several innocents. PLC/GT