Chennai: The Enforcement Directorate (ED) issued its provisional seizure orders against Madurai-based PRP Granites group on their 1,625 immobile assets net worth Rs 528 crores under the provisions of the Prevention of Money Laundering Act (PMLA), according to a statement.
The orders were passed in a case which the ED registered against PRP Granites back in December 2013 in an offshoot of criminal cases investigated by the local police with regard to the multi-crore granites scam.
“During investigation, it was observed that during the period 2006-2013, they (Ms PRP Granites and Ms PRP Exports) acquired about 1,625 immovable properties of registered value of about Rs 103 crore from the said proceeds of crime.
It was also noticed that over Rs 32 lakh was in fixed deposits. As these properties are involved in money laundering, the said Rs 32,57,275 in the form of fixed deposits and 1,625 immovable properties of present market value of Rs 528 crore in the name of Ms PRP Exports and Ms PRP Granites and have been provisionally attached under the provisions of PMLA,” the release said.
“In this process they submitted forged and fabricated documents/lease agreements relating to adjoining leasehold lands so as to obtain mining permissions.
They have resorted to illegal quarrying from the government Poramboke lands by removing the boundary stones erected by the Revenue department,” the release stated.
The defendants had allegedly forged their records and other books to facilitate transport of the illegally acquired granite blocks to keep it off the purview of the statutory authorities.
Investigations further revealed that the said firms were selling the illegally mined granite blocks in the international/domestic market in excess of the declared quantity.
The returns were re-invested in acquisition of the immovable properties and mining lease licence and got further additional revenues. Thus, the ill-gotten wealth is projected as purportedly acquired through legitimate business.
The granite scam came to light after the State called for a report into the alleged mining irregularities prevailing in Madurai from the then district collector U. Sagayam in May 2012. The report indicted the defendants to have caused a loss of Rs 16,000 crore to the exchequer. The subsequent inquiries led to registration of as many as 48 cases in Madurai, and those cases were clubbed by the ED to make its present case.
