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Properties of sand baron’s aides attached
The Enforcement Directorate on Wednesday attached the Rs 12 crore worth properties, including 10.25 crore in cash and 6.5 kg gold worth Rs 1.8 crore belonging to Ashok M Jain and Mahaveer Hirani, two persons who proved to have direct deals with sand mining baron Sekhar Reddy.
By
migrator
migrator
Chennai
According to a press release from the Enforcement Directorate, a PMLA case was booked against Sekhar Reddy and his associates following the I-T raids and CBI case against Sekhar Reddy and investigation was taken up.
The I-T, as a follow up to the raids on Sekhar Reddy and associates, had raided the premises of Ashok Jain and Mahaveer Hirani, proprietor of Deepak Traders and seized demonetized currency notes worth Rs 10.25 crore and 6.5 kg gold.
ED investigated these cases as well and found out that Sekhar Reddy had collected new currency notes in exchange of older notes on a commission basis from the accused duo through Parasmal Lodha, who was earlier arrested by ED in another case.
Hence the investigation revealed that the cash and gold seized by I-T were proceeds of the crime that were projected or claimed as untainted property. ED has got provisional orders to attach the cash and gold totally valued at Rs12 crore, the release said.
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