CHENNAI/MADURAI: The Enforcement Directorate on Wednesday attached properties worth Rs 40 crore belonging to a granite firm linked to Dayanidhi Alagiri, son of former Union Minister and expelled DMK leader MK Alagiri. The ED has attached 25 movable and immovable properties of Olympus Granites, of which Dayanidhi is a promoter, director and share-holder. The properties attached include lands and buildings in Madurai and Chennai, apart from the Rs 40.34 crore worth fixed deposits. The action pertains to an illegal granite mining case filed against the firm.
“S Nagaraj and Dayanidhi Alagiri, along with other accused, criminally conspired and indulged in illegal mining activities in the TAMIN leased land, causing loss to the government and wrongful gain to parties involved,” said a statement released by the ED.
The State police had, earlier, filed an FIR and charge sheet against the company, its promoters, directors and other individuals, based on which the ED has been probing Olympus Granites in Madurai for violating the Prevention of Money Laundering Act. The company, according to the charge sheet, has committed various offences, including under the Explosive Substances Act.
“Investigation has revealed that Olympus and its promoters have committed a Scheduled Offence,” claims the ED release. The proceeds derived from the illegal mining were “relentlessly incubated, thereby resulting in further accruals of proceeds of crime, all of which were camouflaged in the organizational system as business income or earnings.”
According to the agency, the police charge sheet discloses commission of various offences as a result of alleged illegal granite mining. Neither Dayanidhi, nor any other company representative has reacted to the development. The ED, meanwhile, said further inquiries would be conducted.
Rs 40 crore deposits attached by agency
Properties attached include 25 moveable and immovable assets in Madurai & Chennai and Rs 40.34 crore in fixed deposits, which allegedly are proceeds of the crime