ED attaches Rs 150 crore worth properties of Sridhar Dhanapal

There are around 26 FIRs filed against Dhanapal including alleged extortion, murder and illegal possession of arms

The Enforcement Directorate (ED), Chennai has attached properties worth Rs 150 crore of Sridhar Dhanapal and his family members under the provisions of Prevention of Money Laundering Act, 2002 (PMLA). The action was on a case of extortion, murder and attempt to murder and illegal possission of arms.

According to a statement from the ED, there are around 26 first investigation reports (FIRs) filed by various police stations in Tamil Nadu against Dhanapal and his associates for various offences under the Indian Penal Code, 1860, the Arms Act, 1959, the Explosives Act, 1884 and the Tamil Nadu Public Property (Prevention of Damage and Loss) Act, 1992.

"Sridhar Dhanapal has been evading the judicial proceedings in India for past three years and it is learnt that he flew away from India in the year 2013 and stationed in Dubai. A Red Corner Notice was issued against him by Central Bureau of Investigation, National Central Bureau - India Interpol, New Delhi," added the Directorate.

Based on the information from the Tamil Nadu police, the ED, Chennai, initiated money laundering investigations and found that the person had committed offence of money laundering and acquired 124 immovable properties in his name and in the name of his close relatives, using the proceeds of crime. An SB account and fixed deposit account were also identified in the name of his wife.

His brother has admitted all the 40 properties in his name are acquired by Dhanapal, it said.

The ED, Chennai, attached the properties provisionally and said that the total guide line value of these properties is about Rs 80 crore and the market value is estimated to be about Rs 150 crore.