ED attaches more properties worth Rs 48 cr of Naidu under PMLA

23 August, New Delhi

In a case of Bank fraud of about Rs 136 crores Cheating of students to the tune of Rs 16 crores, the Enforcement Directorate (ED) Wednesday attached further properties worth RS 48 Crores of T D Naidu, Chairman of Deen Dayal Medical and Educational Trust at Tiruvallur under the provisions of Prevention of Money Laundering Act,(PMLA) 2002.

Among the properties attached including 17.33 acres and 2.46 acresof agricultural lands, 48,000 sqft residential plot and 35.17 acres ofvacant land. In release, ED, Chennai Joint Director KSVV Prasad said Tamil Nadu Police registered several cases against Naidu based on various complaints from students/parents, alleging cheating to the tune of over Rs 16 crores for medical admissions.

Basic allegations are that he has taken huge amounts from them for medical admission in the Deen Dayal Medical College without having necessary permission from Medical Council of India and refused to pay back the same and threatened those who sought refund. Accordingly, investigations under PMLA were initiated.