ED attaches Saradha Group properties worth Rs 100 crore

The Enforcement Directorate (ED), probing the multi-crore Saradha scam, today attached properties of the Saradha Group worth around Rs 100 crore, a top source in the directorate said. "Today, we have attached several properties of the Saradha Group located in South 24-Parganas district which included a resort, a huge tract of land and apartments," the source told PTI. He said that the ED was also in the process of identifying other properties as well after which those would also be attached.

"The estimated value of the attached properties is around Rs 100 crore," he said. Some of the properties were in the name of Saradha Group chief Sudipto Sen, while most of them were `benami' because of the Land Ceiling Act which prevented him from transferring them in his name, the source said.

He alleged the properties were bought by Sen "out of the crime proceeds". The attached properties, he said, would now be kept under the control of ED till the court gives its orders on what to do with them.
"The idea behind attaching the properties is to recover the crime proceeds", he said.