Gutka scam case: ED attaches 174 properties worth ₹246 crore
TIMES NEWS NETWORK
Chennai:30.07.2019
The Enforcement Directorate (ED), Chennai, on Monday provisionally attached immovable and movable properties worth ₹246 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the gutka scam case.
The attached assets comprise 174 immoveable properties in Tamil Nadu, Puducherry and Andhra Pradesh, with a market value of ₹243.80 crore and moveable properties in the form of shares and vehicles valued at ₹2.29 crore.
The attachments were made after the ED Chennai zone-II, headed by joint director P Manikkavel, initiated investigations under the PMLA against unidentified officials of the state and the central governments, public servants and others based on an FIR filed by the CBI in the gutka scam.
The CBI registered the FIR on the directions of the Madras high court after it directed the probe agency to conduct investigations into all aspects of the offence of illegal manufacture, import, supply, distribution and sale of gutka and other chewable tobacco products which were banned in Tamil Nadu and Puducherry with effect from May 2013. Investigations under the PMLA revealed that accused A V Madhava Rao, P V Srinivasa Rao, Tallam Uma Shankar Gupta and others were involved in the illegal manufacture, sale and distribution of gutka products. They had a turnover of ₹639.40 crore from June 2013 to June 2016. The ill-gotten money was invested in moveable and immoveable properties in Andhra Pradesh, Puducherry and Tamil Nadu.
Investigations further revealed that the accused made investments in land purchased in the name of Gayathri Realtors, Medha Dairy Private Limited, Vaijayanthi Spinners and others, sourced through cash from the sale proceeds of the illegal gutka business. Three factory premises were also acquired by the accused in the names of relatives /employees during the period to facilitate smooth running of the business.
Further, from the profits of the gutka business, personal investments were made by the accused in purchase of land in their and in the name of their relatives. Besides, shares were purchased in Goutham Buddha Textile Park, Guntur, and vehicles were bought from the sale and distribution of the gutka products. The accused made major investments in real estate in Guntur district of Andhra Pradesh, apart from investments in Salem, Puducherry and Chennai. These assets consist of the 174 properties that have been attached.
The attached assets comprise 174 immoveable properties in Tamil Nadu, Puducherry and Andhra Pradesh
TIMES NEWS NETWORK
Chennai:30.07.2019
The Enforcement Directorate (ED), Chennai, on Monday provisionally attached immovable and movable properties worth ₹246 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the gutka scam case.
The attached assets comprise 174 immoveable properties in Tamil Nadu, Puducherry and Andhra Pradesh, with a market value of ₹243.80 crore and moveable properties in the form of shares and vehicles valued at ₹2.29 crore.
The attachments were made after the ED Chennai zone-II, headed by joint director P Manikkavel, initiated investigations under the PMLA against unidentified officials of the state and the central governments, public servants and others based on an FIR filed by the CBI in the gutka scam.
The CBI registered the FIR on the directions of the Madras high court after it directed the probe agency to conduct investigations into all aspects of the offence of illegal manufacture, import, supply, distribution and sale of gutka and other chewable tobacco products which were banned in Tamil Nadu and Puducherry with effect from May 2013. Investigations under the PMLA revealed that accused A V Madhava Rao, P V Srinivasa Rao, Tallam Uma Shankar Gupta and others were involved in the illegal manufacture, sale and distribution of gutka products. They had a turnover of ₹639.40 crore from June 2013 to June 2016. The ill-gotten money was invested in moveable and immoveable properties in Andhra Pradesh, Puducherry and Tamil Nadu.
Investigations further revealed that the accused made investments in land purchased in the name of Gayathri Realtors, Medha Dairy Private Limited, Vaijayanthi Spinners and others, sourced through cash from the sale proceeds of the illegal gutka business. Three factory premises were also acquired by the accused in the names of relatives /employees during the period to facilitate smooth running of the business.
Further, from the profits of the gutka business, personal investments were made by the accused in purchase of land in their and in the name of their relatives. Besides, shares were purchased in Goutham Buddha Textile Park, Guntur, and vehicles were bought from the sale and distribution of the gutka products. The accused made major investments in real estate in Guntur district of Andhra Pradesh, apart from investments in Salem, Puducherry and Chennai. These assets consist of the 174 properties that have been attached.
The attached assets comprise 174 immoveable properties in Tamil Nadu, Puducherry and Andhra Pradesh
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