CHENNAI: The Enforcement Directorate (ED) attached properties worth Rs 138 crore belonging to Kanishk Gold and its managing director Bhoopesh Kumar Jain under the Prevention of Money Laundering Act during an investigation based on the first information report registered by the Central Bureau of Investigation, Bengaluru, for cheating consortium of 14 banks to the tune of Rs 824 crore.
The properties attached included 135 cents of land owned by Bhoopesh Kumar Jain at Pudupakkam in Kancheepuram district, residential apartment at Kothari Road in Nungambakkam, a flat in Maharashtra, a two-acre-five-cent vacant land at Pudupakkam in Kancheepuram district and a portion of second floor measuring 2,290 square feet of the building Khazana Plaza and Cathedral Road together with 540 square feet of undivided share, according to Enforcement Directorate Joint Director KSVV Prasad.
Similarly, two separate lands measuring 31 cents and four acres in Kundrathur village in Sriperumbudur taluk in Kancheepuram district, belonging to Kanishk Gold, another land measuring two acres and 38.12 cents in revenue village of Pidarithangal and 1.48 acres of land in Kolappancheri village both in Thiruvallur district and a 7.09 acres of land with a superstructure building in Pannikulam village in Dharmapuri district and 83.20 cents of land in Muttukadu village belonging to Kanishk Gold were attached.
The ED has also attached the first four floors of office portion with a plinth area of 4,200 square feet and 25 pc undivided share of land each in three grounds and 2,035 square feet at Chamiers Road in Teynampet besides land and residential building in Siruvallur village in Perambur.
The attachment comes in the wake of the ED freezing Rs 48 crore worth Kanishk Gold’s manufacturing unit at Pukkathurai in Maduranthagam taluk in Kancheepuram district and fixed deposits worth Rs 143.58 crore.
Stock statements fudged
According to the CBI, the credit facilities extended to the company were secured by the primary raw material of gold bullion, semi-finished goods and finished goods of gold jewellery. Whereas Jain had mortgaged several immovable properties with the consortium as collateral securities. However it was later realised that stock statements were fudged.