The Enforcement Directorate has provisionally attached immovable properties worth Rs 207 crore from Madurai-based Neomax Properties Pvt Ltd and group firms across Tamil Nadu. This follows investor complaints of fraud, where high returns of 12-30% on plot projects were promised but not delivered, with funds diverted to shell entities amid manipulated accounts.
The Enforcement Directorate has attached 34 properties in Mysore, valued at Rs 40.08 crore, linked to the MUDA scam. This involves illegal allotments by former commissioner GT Dinesh Kumar, with total attachments reaching Rs 440 crore.