ED Returns Property Worth Rs 12.73 Crore in Chennai
The Enforcement Directorate (ED) has successfully returned a property valued at Rs 12.73 crore to its rightful owner in Chennai’s Saidapet Taluk. This restitution is part of an anti-money laundering case.
Background of the Case
The investigation began with an FIR by the Central Crime Branch, Chennai, following a complaint of illegal land grabbing. The ED discovered that a group of land grabbers had unlawfully taken over the land and sold it using forged documents.
Legal Actions Taken
In response, the ED issued a Provisional Attachment Order on March 21, 2017, for the property, initially valued at Rs 11.40 crore. This order was confirmed by the Adjudicating Authority, and a Prosecution Complaint was filed in the Principal Sessions Judge Court, Chennai.
Significance of the Restitution
The property’s current value is Rs 12.73 crore. Its return to the rightful owner is a significant step in the ED’s efforts to return proceeds of crime to victims. The ED remains committed to fighting financial crimes and ensuring justice.
Doubts Revealed
ED -: ED stands for Enforcement Directorate. It is a government agency in India that investigates financial crimes like money laundering.
Rs 12.73 Crore -: Rs 12.73 Crore is a large amount of money in Indian currency, equivalent to 127.3 million rupees.
Chennai -: Chennai is a big city in the southern part of India, and it is the capital of the state of Tamil Nadu.
Saidapet Taluk -: Saidapet Taluk is an area or region within Chennai, where the property in question is located.
Anti-money laundering -: Anti-money laundering refers to efforts to stop people from making illegal money look legal. It involves tracking and stopping illegal financial activities.
FIR -: FIR stands for First Information Report. It is a document prepared by the police in India when they receive information about a crime.
Central Crime Branch -: The Central Crime Branch is a special division of the police in Chennai that deals with serious crimes like fraud and land grabbing.
Provisional Attachment Order -: A Provisional Attachment Order is a legal order to temporarily take control of a property or asset during an investigation to prevent it from being sold or transferred.
Restitution -: Restitution means returning something to its rightful owner, especially after it has been taken away or lost due to a crime.
