ED attaches assets worth Rs 69.14 crore of TN-based businessman Dhanraj Kochar in cheating case
India Today
The Enforcement Directorate has attached assets worth Rs. 69.14 crore of Dhanraj Kochar, a Tamil Nadu-based businessman, and his family members under the Prevention of Money Laundering Act (PMLA), 2002 in a cheating case, officials said.
The Enforcement Directorate has attached assets worth Rs. 69.14 crore of Dhanraj Kochar, a Tamil Nadu-based businessman and his family members under the Prevention of Money Laundering Act (PMLA), 2002 in a cheating case, officials said.
The ED initiated a money laundering investigation on the basis of an FIR registered by CCB, Tamil Nadu Police against Dhanraj Kochar, his family members and associates under various sections of the Indian Penal Code (IPC) for cheating, criminal conspiracy and fraud of more than Rs. 100 crore.
The ED conducted a search operation on September 29, 2021 at the residential and business premises and bank lockers of Dhanraj Kochar and his family members and seized Indian currency, jewellery and various incriminating documents.
Investigation by ED revealed that people identified as M S Hameed, Dhanraj Kochar and Abdul Rawoof were the Directors of a company named M/s D R Foundations & Estates Private Limited, which was into the real estate business and during 2005-06, the properties in Siruseri village under the jurisdiction of Thiruporur Sub Registrar Office, in 20 documents, were purchased out of funds invested by Hameed and his family members.
His business entity, Paramount Builders into M/s. DR Foundations and Real Estates Pvt. Ltd. were clandestinely transferred to the names of Dhanraj Kochar and his family members and some properties were directly purchased in their names from the funds invested by Hameed in the company. Some of the properties were also sold in the interregnum.
“Some properties were directly purchased in their names from the funds invested by Hameed in the company. Some of the properties have also been sold in the interregnum. In order to prevent further sale of the properties, which are proceeds of crime and to prevent frustration of further proceedings under PMLA, immovable properties and movable assets (in the form of fixed deposits and jewellery ) to the tune of Rs 69.14 crore of Dhanraj Kochar and his family members has been provisionally attached,” said the ED in a statement.
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