ED seizes 15 properties belonging to A Raja in disproportionate assets case

This real estate giant is one of the largest players in the country's real estate sector and is publicly listed on the Bombay Stock Exchange (BSE).

The investigation has exposed a quid pro quo arrangement between Raja and the real estate company. In 2007, during the same period when the environmental clearance was granted, the real estate company provided kickbacks to Raja disguised as land commission income.

These illicit funds were funnelled into the accounts of the benami company owned by Raja, which he had established in 2007. This company registered under the names of his family members and a close family friend, was set up with the sole purpose of serving as a conduit to conceal the proceeds of criminal activities.

Notably, this company has never engaged in any legitimate business activities since its inception.

ED's investigation has further revealed that the properties, spanning approximately 45 acres of land in Coimbatore, Tamil Nadu, with an estimated worth of around Rs 55 crore, were directly acquired using the ill-gotten gains generated by Raja.

In light of this finding, ED has invoked the provisions of Section 8(4) of the PMLA. Consequently, the agency has taken possession of these properties, which were initially attached per a provisional attachment order on December 20, 2022, a decision later confirmed by the adjudicating authority (PMLA), Delhi.

The 59-year-old Raja is currently a DMK MP from the Nilgiris Lok Sabha seat.