The Enforcement Directorate has provisionally connected movable and immovable residences worth ₹forty.34 crore in an unlawful mining case regarding Olympus Granites Pvt Ltd. Alagiri Dhayanidhi, son of MK Alagiri, former DMK strongman and son of party patriarch M Karunanidhi, is a director.
According to an ED press release, the employer, its shareholders/promoters/administrators, including S Nagarajan and Alagiri Dhayanidhi, criminally conspired and indulged in unlawful mining activities in adjacent TAEMIN-leased land, thereby causing wrongful loss to the authorities and corresponding wrongful gains to themselves. The ED had initiated research below the Prevention of Money Laundering Act (PMLA) in opposition to Olympus Granites to perceive the crime proceeds based on an FIR and charge sheet filed through the Tamil Nadu police in opposition to the agency, its promoters, and directors and other people.
The charge sheet disclosed the fee of diverse offenses, including underneath the Indian Penal Code, 1860, and the Explosive Substances Act, 1908 by way of the accused consequent to the unlawful granite mining indulged with the aid of the company and different accused. The investigation discovered that Olympus Granites and its promoters/shareholders/ directors derived proceeds of illegal quarrying.
The proceeds derived therefrom have been in addition incubated, ensuing in similarly accrual of proceeds of crime, all of which have been camouflaged as commercial enterprise income/income, the ED said.
Twenty-5 movable and immovable homes, really worth of ₹forty.34 crore have been identified as a part of the crime proceeds and provisionally attached beneath the PMLA.
They encompass land and homes in and around Madurai and Chennai and a set deposit account.
Further investigations are on, the discharge said.