ED Restitutes Rs 12.73 Crore Property in Chennai to Rightful Claimant

The Enforcement Directorate has successfully returned a property worth Rs 12.73 crore to its rightful owner in Chennai. The case involved illegal land grabbing and money laundering. The agency's investigation led to the property's restitution, emphasizing its ongoing efforts to combat financial crimes and support victims.

In a landmark decision, the Enforcement Directorate (ED) announced the restitution of a Rs 12.73 crore property situated in Chennai's Saidapet Taluk to its legitimate owner. This development marks a significant step in the agency's broader mission to return illegally acquired assets to those wronged in financial crime acts.

The case originated from an FIR filed by the Central Crime Branch (CCB), Chennai, citing an incident of unlawful land grabbing. According to the ED's investigation, the perpetrators falsified ownership documents to sell the property fraudulently, sparking significant legal action.

Subsequent investigations led to the issuance of a Provisional Attachment Order on March 21, 2017, appraising the property initially at Rs 11.40 crore. The Hon'ble Principal Sessions Judge Court, Chennai, later took cognizance, leading to the property's current valuation of Rs 12.73 crore being restituted. The ED reaffirms its dedication to eliminating financial crimes and ensuring justice for victims.

(With inputs from agencies.)