Money laundering case: ED raids premises of real estate firms in Chennai

The Enforcement Directorate (ED) officials conducted simultaneous raids at the premises of three real estate promoters on Friday, an official said.

Sources told Media that the raids were conducted in connection with money laundering charges.

The ED acted on a case registered by the Tamil Nadu unit of the Directorate of Vigilance and Anti-Corruption (DVAC).

The DVAC has registered an FIR against T. Udayakumar, Sunil Khetpalia and Maneesh Parmar, who are owners and promoters of real estate firms, M/s Landmark Housing projects and KLP projects, respectively.

While Udayakumar is the promoter of Landmark Housing Projects, Sunil and Manish are owners of KLP projects.

Udayakumar had deposed before the Income Tax department that he had paid a bribe to the tune of Rs 50 crore to several influential persons, including MPs, MLAs, officials and even civic corporation councillors for approval to his multi-storeyed apartment projects in Perambur between 2015-17.

DVAC has registered a case based on this deposition by Udayakumar before the Income Tax department.

Udayakumar had also told Income Tax Department that in order to pave way for smooth construction in his property at Perambu Barracks Road, he had to remove squatters and other encroachments and for this he was forced to pay bribes to several people, including senior politicians of Tamil Nadu.

He had also informed the DVAC that the 50-crore bribe money was arranged by his partners, Sunil Khetpalia and Maneesh Parmar, and paid in cash.

The DVAC, in its FIR said that there were grounds to believe that the accused Udayakumar, Sunil Khetpalia and Maneesh Parmar had entered into a criminal conspiracy to bribe politicians and officials, and a case under different provisions of the IPC and Prevention of Corruption Act, 1988, was registered.

The ED has now taken up the case of money laundering against Udayakumar, Sunil and Manish, and raids are continuing in the premises of these three real estate developers.