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IndiaPosted at: Feb 17 2018 5:06PM


ED attaches properties of VGN Developers

New Delhi, Feb 17 (UNI) The Enforcement Directorate (ED) has provisionally attached immovable properties of VGN Developers Pvt. Ltd., at Guindy in Chennai to the extent of Rs.115 crore, under the provisions of Prevention of Money Laundering Act(PMLA), an official statement said here on Saturday.
The immovable property in the form of land to the extent of 10.46 acres available at Guindy, Chennai was purchased by VGN Developers Pvt. Ltd in 2013 from Hindusthan Teleprinters Ltd (HTL), a Government of India Undertaking.
A case was registered by Central Bureau of Investigation (CBI) and Anti-Corruption Bureau (ACB), Chennai for the wrongful loss of Rs. 115 crore caused by VGN Developers Pvt Ltd to Government of India in the acquisition of 10.46 acres of vacant land at Guindy from State Bank of India, Chennai branch through private treaty sale under SARFEASI Act to recover the dues of HTL, a public sector undertaking.
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