The Enforcement Directorate (ED) on Thursday attached assets worth Rs 6.51 crore belonging to Pondicherry Papers Ltd under the provisions of the Prevention of Money Laundering Act (PMLA) in a case relating to the illegal sale of land owned by the Government of Puducherry.
According to media reports, the Government of Puducherry awarded 13.84 acres of land to Pondicherry Papers Ltd to establish a paper mill.
Following which, the ED had registered a case based on Central Bureau of Investigation (CBI) FIR report.
Reportedly, the company, with some government officials, hatched a plot and sold the land to Navasakthi Townships Developers Private Ltd. Of the 25 houses built on the land, 18 have been provisionally attached under the PMLA.
Disclaimer: No Business Standard Journalist was involved in creation of this content
