Chennai (Tamil Nadu), November 12: The Enforcement Directorate (ED) announced today that it has returned a property valued at Rs 12.73 crore in Saidapet Taluk, Chennai, to its rightful owner in a case involving money laundering and illegal land grabbing.
According to a statement from the ED, the Chennai office facilitated this property restitution as part of its efforts to restore the Proceeds of Crime to legitimate claimants affected by financial fraud. The ED’s investigation stemmed from an FIR filed by the Central Crime Branch (CCB), Chennai, based on a complaint of illegal land encroachment.
The investigation revealed that a group of land grabbers had unlawfully seized the land in Saidapet Taluk and sold it to a third party using forged documents and falsified ownership claims. Consequently, the ED issued a Provisional Attachment Order on March 21, 2017, initially valuing the property at Rs 11.40 crore. This order was confirmed by the Adjudicating Authority and followed by a prosecution complaint filed in the Principal Sessions Judge Court, Chennai.
Since then, the property’s value has appreciated to Rs 12.73 crore, and its restitution to the rightful owner marks a substantial victory in the ED’s ongoing battle against financial crimes. The agency reiterated its commitment to returning the Proceeds of Crime to affected parties, ensuring that justice prevails for victims impacted by such offenses.
