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Policy & Regulation
ED attaches properties of 5 firms involved in 2G case
TT Correspondent |  |  31 Aug 2011

The Enforcement Directorate on Tuesday ordered freezing of bank accounts and attachment of immoveable properties of five companies in connection with the alleged bribe of Rs 200 crore paid to Kalaignar TV in 2G spectrum allocation scam. 

The bank accounts and immovable property, especially land of Dynamix realty, Conwood Constructions, Eversmile Constructions, Nihar Constructions and DB realty have been attached, ED officials said. 

When contacted, representative of the construction companies said they were awaiting the order. The directorate had identified properties in this regard and formal orders were issued. 

The properties will be attached under the provisions of the Prevention of Money Laundering Act (PMLA) and will be termed as "proceeds of crime" under the Act, they said. This is the first attachment order in 2G case and action is expected to be followed by the properties of various telecom firms involved in the case.

    
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31 Aug 2011(IST)  
Comment
Congrats .Better late than never . ED should blacklist the companies and stop their business operations at the earliest .
Posted By :- Ramalingam K S
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