The Enforcement Directorate (ED) on Friday said it has attached properties worth Rs 22 crore in a case related to the alleged illegal sale of cooperative land in Madhya Pradesh’s Indore.
The financial probe agency in a statement said it has attached properties under the provisions of the Prevention of Money Laundering Act.
The case pertains to the illegal sale and alienation of the lands of Housing Co-operative Societies.
As per ED, the current market value of these assets is approximately Rs 500 crore.
The ED registered a case of money laundering based on various FIRs lodged in Indore in case of illegal sale and alienation of the lands of Housing Co-operative Societies by Dilip Sisodiya a.k.a. Deepak Jain Madda in connivance with others.
The ED probe revealed that the accused persons, in connivance with each other, illegally sold and alienated prime land belonging to co-operative societies in Indore.
“These lands were originally acquired by housing cooperative societies from the state government to allot housing plots to its own members. These lands were fraudulently sold to various accused persons causing huge loss to the housing society and depriving its members from their rightful ownership of plots,” the ED said.
It also said that several instances of defrauding the Society by siphoning away the movable assets such as bank accounts etc., of the Housing Societies have also come to notice.
The ED had arrested Sisodiya on June 3 this year and he is currently in judicial custody.
The ED has also filed a chargesheet in this matter before the Special Court.
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