The Indian AML Watchdog ED has imposed a case on Dhanraj Kochar and his family members for Rs. 69.14 crocre. ED imposed a case of cheating under the Prevention of Money Laundering Act 2002.
Investigation of Dhanraj Kochar case
The CCB, Tamil Nadu Police has started the money laundering investigation case against Dhanraj Kochar and his family. It was registered under cheating and criminal conspiracy case under the different IPC sections. ED took an effective step by investigating the residential as well as the business premises on 29.9.21. The bank lockers were also checked of Dhanraj Kochar and his family members. They have clutch there Indian Currency and the jewellery. They have also seized the different documents of Dhanraj Kochar.
According to the investigation conducted, ED has disclosed that M S Hameed and Dhanraj Kochar were also involved in purchasing the property of Siruseri village along with the directors of M/s D R Foundations & Estates Private Limited.
Who is Enforcement Directorate?
The Enforcement Directorate is regarded as the law enforcement agency and also it is an intelligence agency that is wholly liable for taking the financial as well as the economic crime that took place in India.
It is a multi-disciplinary organization that investigates the cases that are related to money laundering.
ED performs Search Option of Dhanraj Kochar case
It was observed that the funds invested for purchasing the property came from the pocket of Hameed & his family members. The business entity Paramount Builders into M/s D R Foundations and Real Estate Pvt. Ltd that Hameed was holding were directly transferred to Dhanraj Kochar and his family members.
As it was transferred to him he purchased some properties on the name of his family members from the funds invested by Hammed in the company.
Properties seized in Dhanraj Kochar case
Additionally, the properties, assets have been seized by ED. There were innocent persons as well who got cheated through him and the family members.
The Aftermath of Dhanraj Kochar Case
ED has concluded that to stop the sale of property that includes the proceeds of crime and also to stop frustration under the Prevention of Money Laundering Act 2002, a total of Rs. 69.14 crore was imposed by ED on him and his family members.
This is the second attachment in the said case, an attachment of Rs. 69.14 Crore has already been done by ED earlier this year taking the total attachment in the matter to Rs. 118.74 Crore.
