ED attaches property worth over Rs 25 lakh of former Kerala Minister K Babu
The officials of the Enforcement Directorate have attached one immovable property worth Rs 25.82 lakhs belonging to former Kerala Minister K Babu in a disproportionate assets case.
ANI
Jan 31, 2024 21:45 IST
New Delhi [India], January 31 (ANI): The officials of the Enforcement Directorate said on Wednesday they have attached one immovable property worth Rs 25.82 lakhs belonging to former Kerala Minister K Babu.
ED has provisionally attached one immovable property worth Rs. 25.82 Lakhs under the provisions of PMLA, 2002 belonging to K Babu, former Minister for Excise, Fisheries and Ports, Government of Kerala on 25/01/2024 for amassing of disproportionate assets during the period…
— ED (@dir_ed) January 31, 2024
The property was attached under the provisions of Prevention of Money Laundering
Act (PMLA), 2002, for the amassing of disproportionate assets during the period July 1, 2007 to May 31, 2016, a statement issued by the agency said.
The ED initiated an investigation on the basis of a first information report registered by the Anti-Corruption Bureau, special cell, Ernakulam, against Babu and others on August 31, 2016 and a final report dated March 23, 2018.
Its investigation revealed that K Babu, being a public servant during the said period, acquired assets worth Rs 25.82 lakh, which was disproportionate to his known sources of income, and thereby committed the offence under Section 13(1)(e) of the Prevention of Corruption Act, 1988 and punishable under Section 13(2) of the Act. K Babu had derived /obtained the proceeds of crime in the form of movable and immovable properties, said the statement. (ANI)
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