CHENNAI: The Enforcement Directorate (ED) has restituted properties worth Rs 238.90 crore, with a current market value of more than Rs 800 crore, in the Neomax Properties money laundering case, paving the way for their sale and distribution of proceeds among thousands of investors allegedly cheated by the real estate group.
The ED’s Chennai zonal office-II said the properties, attached through two provisional attachment orders, include immovable assets, bank accounts and shares. The agency initiated its investigation based on an FIR registered by the Economic Offences Wing (EOW), Madurai, against Neomax Properties Pvt Ltd and its group companies under various provisions of the IPC, the Banning of Unregulated Deposit Schemes (BUDS) Act and the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai