Big blow to Marans: ED attaches assets worth Rs 742 crore in money laundering case

news

The News Minute | April 1, 2015 | 05:59 pm IST The Directorate of Enforcement (ED) has issued an order under the Prevention of Money Laundering Act (PMLA) for the attachment of assets worth Rs 742 crore held by former Telecom Minister and DMK leader Dayanidhi Maran, his brother and media baron Kalanidhi Maran and his wife Kaveri Kalanidhi. A press release by the ED says that the attachment of the assets is in respect of the money laundering relating to the illegal gratification amounting to Rs. 742.58 crores received by Dayanidhi Maran. The press release also states that the offence of money laundering under Section 3 of PMLA is being investigated in respect of the offences punishable under section 120-B of IPC read with section 7, 12 and section 13(2) read with section 13(1)(d) of PC Act, which are scheduled offences under PMLA and is punishable under Section 4 of the Act. The Marans have been accused of entering into a quid-pro-deal with a Malaysia-based entrepreneur, T Ananda Krishnan who owns Maxis. Dayanidhi Maran, the then Telecom Minister has been accused of forcing C Sivasankaran, the founder of Aircel to sell his stake to Anantha Krishnan. ED says, "The CBI has filed chargesheet against the Maran brothers and their companies including the foreign companies and individuals in which these persons are charges for the offences punishable under section 120-B of IPC read with section 7, 12 and section 13(2) read with section 13(1)(d) of PC Act. So the attachment of the illegal gratification by Sh. Dayanidhi Maran has been done thereafter, as per provisions of PMLA." The investigation, according to ED, has revealed that illegal gratification of Rs. 742.58 crores was paid by the companies based in Mauritius for Dayanidhi Maran, in the two companies namely M/s Sun Direct TV Pvt. Ltd (SDTPL) and M/s South Asia FM Ltd (SAFL). These two companies are owned and controlled by Kalanithi Maran. The money has been utilized by the companies in their business or investments. Following Properties are attached under Section 5(1) of PMLA – 1. Fixed deposits held by Mr. Dayanidhi Maran and others - Rs. 7.47 Crores.2. Fixed deposits held by SDTPL - Rs. 31.34 Crores.3. Fixed deposits held by SAFL - Rs. 6.19 Crores4. Mutual Funds held by SAFL - Rs.15.14 Crores.5. Fixed Deposit held by Mr. Kalanithi Maran - Rs 100 Crores.6. Mutual Funds held by Ms. Kalanithi Maran - Rs. 2.78 Crores.7. Fixed Deposit held by Ms. Kaveri Kalanithi - Rs 1.30 Crores.8. Mutual Funds held by Ms. Kaveri Kalanithi - Rs. 1.78 Crores.9. Land and Building owned by M/s Kal Comm Private Limited - Rs. 171.55 Crores.10. Free Hold Land and Building owned by M/s Sun Network TV Pvt. Ltd - Rs. 266 Crores.11. Shares of SDTPL held by Sh. Kalanithi Maran – Rs. 139 Crores. Shareholding pattern ED says that the investigation under PMLA has revealed that promoters of the SDTPL are Kalanithi Maran and Kaveri Kalanithi. These two persons are holding 80% shares of SDTPL. The shareholders of SAFL are M/s Sun TV Network Limited (60%) and 20% each are M/s A.H. Multisoft Pvt Ltd. and M/s South Asia Multimedia Technologies Ltd., Mauritius. Kalanithi Maran is also holding 75% share of M/s Sun TV Network Limited. Kalanithi Maran and Kaveri Kalanithi are having 90% and 10% shareholding respectively in a company M/s Kal Comm Pvt. Ltd. Tweet Follow @thenewsminute

Show us some love! Support our journalism by becoming a TNM Member - Click here.