ED attaches property of bizman in PMLA case - New Delhi News
by IANS | Updated Oct 03, 2022
This is the second attachment in the said case. An attachment of Rs 69.14 crore has already been made by the ED. With the fresh attachment, the total attachment in the matter is Rs 118.74 crore.
The ED initiated money laundering investigation on the basis of an FIR registered by CCB, Tamil Nadu Police, against Kochar, his family members and associates under various sections of IPC for cheating and criminal conspiracy.
The ED had in 2021 conducted search operations at the residential and business premises and bank lockers of Kochar and his family members and seized Indian currency and jewellery and various incriminating documents.
The ED has learnt in the investigation that one M S Hameed and Dhanraj Kochar along with one Abdul Rawoof were the directors of a company - D R Foundations & Estates Private Limited, which was into real estate business.
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 and his business entity Paramount Builders into D R Foundations and Real Estate Pvt. Ltd. and were clandestinely transferred to the names of Kochar and his family members.
Some properties were even directly purchased in their names from the funds invested by Hameed in the company.
Further investigation of the incriminating documents seized from the search has revealed that several innocents have been cheated likewise by Dhanraj Kochar and his family members.