ED attaches properties worth Rs 31.8 cr in money laundering case
The Enforcement Directorate (ED) said on Wednesday that it has attached immovable properties in Uttarakhand’s Haridwar and Roorkee valued at Rs 31.88 crore belonging to a person named Kishan Chand (IFoS) and his family members in connection with a money laundering case.
IANS
Dec 13, 2023 09:40
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New Delhi, Dec 13 (IANS) The Enforcement Directorate (ED) said on Wednesday that it has attached immovable properties in Uttarakhand’s Haridwar and Roorkee valued at Rs 31.88 crore belonging to a person named Kishan Chand (IFoS) and his family members in connection with a money laundering case.
The ED said that the properties were attached under the provisions of the Prevention of Money Laundering Act (PMLA) after it was found during probe that they belonged to Chand and his family members.
The ED case is based on an FIR registered by the Vigilance Establishment, Dehradun, with respect to a disproportionate assets (DA) case in the matter of Kishan Chand (then DFO) and others.
The ED said its probe revealed that the properties attached were proceeds of crime as huge amount of cash and cheques in the name of third persons had been deposited in various accounts which were later used to purchase properties so as to project these immovable properties as untainted.
“From January 1, 2010 to December 31, 2017 Chand spent Rs 41.9 crore to acquire or purchase movable and immovable properties.
“However, during this period, the income of Chand was Rs 9.8 crore. Thus, Chand had disproportionate assets (DA) to the tune of Rs 32.1 crore which were the proceeds of crime,” the ED said.
--IANS
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