Chennai
In a significant action under the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate (ED), Chennai Zonal Office, has provisionally attached movable and immovable properties valued at Rs. 121.80 Crore. The properties are located across various parts of Tamil Nadu, and their present market value is estimated to be around Rs. 600 Crore.
The attachment, carried out on April 9, 2025, is linked to an ongoing investigation involving Neomax Properties Private Limited, its group companies, and associated individuals.
According to ED officials, the attached assets include both real estate holdings and other movable properties suspected to have been acquired through proceeds of crime. The investigation is part of a broader crackdown on money laundering activities in the real estate sector.
The ED is continuing its probe to trace further proceeds of crime and identify the individuals involved in laundering illicit funds through shell companies and benami transactions.
Further details are awaited as the investigation progresses.
