The properties of M.R. Granites, R.R. Granites and others were attached under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), the ED said in a statement issued here.
The ED said it had identified about 517 immovable properties acquired by suspected persons in their names and also in the names of their family members.
According to ED, in 2013, five first information reports were registered by the police against Madurai Granite Exports, M.R. Granites and R.R. Granites and their proprietors or partners.
The ED said chargesheets were filed by police alleging illegal quarrying of multi-coloured granites at Melur, Keelavalavu, Rasipuram and other places in and around Madurai by the accused, with a common object to trespass into the nearby government lands.
"It was estimated that the loss to the government exchequer and the consequent illegal gain to the accused there in was about Rs 450 crore in this case," ED said.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.