The Enforcement Directorate (ED) has issued an order for attaching two immovable properties worth Rs 1.10 crore in connection with a disproportionate assets case, an official said on Friday.
The case has been lodged against T.N. Chikkarayappa, former Managing Director, Cauvery Irrigation Corporation Limited in Bengaluru.
The ED lodged a case under the Prevention of Money Laundering Act (PMLA) on the basis of an FIR registered by Anti-Corruption Bureau of Bengaluru City (Now Karnataka Lokayukta, Bengaluru) against T.N. Chikkarayappa.
Further, a chargesheet was also filed by the ACB, Bengaluru against Chikkrayappa and other accused persons in the Court of City Civil and Session Judge, Bengaluru.
The ED learnt that Chikkarayappa, with the help of other accused persons, illegally accumulated disproportionate assets to the tune of Rs 5.33 crore, which is 304.93 per cent in excess of his legal source of income and his family members.
"From such illegal income, he bought benami immovable properties in the name of his known persons and further got transferred the same in the name of his family members," said the official.
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