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Even though Tamil Nadu is ruled by her staunch loyalist Chief Minister Edappadi K Palaniswami, the state government has instructed the Directorate of Vigilance and Anti-Corruption (DVAC), which is the prosecuting agency, to initiate steps to confiscate the properties.
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Updated : May 31, 2017, 07:39 AM IST
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After the Supreme Court upheld the trial court's order in the disproportionate assets case in February this year, the Tamil Nadu government has commenced the process of confiscating properties belonging to former chief minister J Jayalalithaa, her aide VK Sasikala and others.
Even though Tamil Nadu is ruled by her staunch loyalist Chief Minister Edappadi K Palaniswami, the state government has instructed the Directorate of Vigilance and Anti-Corruption (DVAC), which is the prosecuting agency, to initiate steps to confiscate the properties.
Following the instruction, DVAC wrote to the Collectors of six districts including Chennai, Kancheepuram and Tiruvallur to take possession of 68 properties owned by the firms in the name of late Jayalalithaa and her aide Sasikala, J Elavarasi and VN Sudhakaran who are undergoing four-year sentence in the DA case.
The trial court in Bengaluru, which held the value of the disproportionate assets to be Rs 53.60 crore, convicted all the accused to four-year imprisonment and imposed a fine of Rs 100 crore on Jayalalithaa and Rs 10 crore each on Ms Sasikala, Mr Sudhakaran and Ms Elavarasi.
The court ordered all the immovable properties registered in the names of Lex Property Developments Pvt Ltd, Meadow Agro Farms Pvt Ltd, Ramaraj Agro Mills Pvt Ltd, Signora Business Enterprises (P) Ltd, Riverway Agro Products (P) Ltd, and Indo Doha Chemicals and Pharmaceuticals Ltd to be confiscated. Even though as many as 128 properties were actually attached in the case, the trial court ordered confiscation of only 68.
According to sources, the present market value of the properties will be thousands of crores as they are located in prime areas. Of all the properties to be confiscated, the Kodanad Tea Estate in the Nilgiri, which spread over 940 acres of tea plantation and a huge bungalow, was used as a summer retreat by Jayalalithaa. Presently the estate is valued at over Rs 1,100 crore.
The Tamil Nadu government which will become the owner of the properties can either use the properties or auction them and deposit the proceedings in the treasury.
