PMLA: Dynamix Realty in inflow of proceeds of crime, says ED

A top ED official today told a special court that Dynamix Realty, facing trial in a 2G scam- related money laundering case, was controlled by Swan Telecom promoters Shahid Balwa and Vinod Goenka and it was involved in inflow of Rs 209.25 crore proceeds of crime in DMK-run Kalaignar TV.
Deposing as a prosecution witness in the case, Enforcement Directorate's (ED) Joint Director Himanshu Kumar Lal submitted before Special CBI Judge O P Saini that Dynamix Realty was involved in arranging the proceeds of crime on behalf of Swan Telecom Pvt Ltd (STPL).
Dynamix Realty was also involved in transferring the money from Kusegaon Fruits and Vegetables Pvt Ltd and Cineyug Films Pvt Ltd to Kalaignar TV Pvt Ltd, he said.

"It is also involved in the reverse flow of the proceeds of crime from Kalaignar TV through Cineyug Films and Kusegaon Fruits and Vegetables to Dynamix Realty and projection of the tainted money as untainted through various purported documents.
"Dynamix Realty was under the control of Shahid Balwa and Vinod Goenka. Dynamix Realty transferred Rs 209.25 crore to Kusegaon Fruits and Vegetables in the onward flow of proceeds of crime. Dynamix Realty acquired the proceeds of crime of Rs 223.55 crore from Kusegaon Fruits and Vegetables in the reverse flow of proceeds of crime," Lal said.
Lal, whose deposition remained inconclusive, said that proceeds of crime of Rs 133.88 crore had been attached by ED from Dynamix Realty under the provision of the Prevention of Money Laundering Act.

He also referred to the role of several other firms, which have been made accused and are facing trial in the case.
The firms include Eversmile Construction Company Pvt Ltd, Conwood Construction and Developers Pvt Ltd, DB Realty Ltd and Nihar Constructions Pvt Ltd.
Former Telecom Minister A Raja, DMK chief M Karunanidhi's wife Dayalu Ammal and daughter Kanimozhi, STPL promoters Shahid Usman Balwa and Vinod Goenka and 14 others, including nine companies, are facing trial in the case in which ED has named 30 persons as prosecution witnesses.