Villas Land in Munnar taken in custody by ED in PFI money laundering case

Four homes and 6.75 acres of land in Kerala’s Munnar area have been taken into custody by the Enforcement Directorate as part of a money laundering inquiry into the outlawed Popular Front of India.The assets, which are the property of Munnar Villa Vista Pvt Ltd, are valued at a total of Rs 2.53 crore (book value).

They were tentatively attached by the federal investigation agency on January 7, and the Prevention of Money Laundering Act (PMLA) adjudicating authority confirmed it on June 30, according to an ED statement on Saturday. The agency was able to take ownership of the land and the four villas thanks to the adjudicating authority’s order, it claimed.

Due to its alleged connections to terrorist operations, the Popular Front of India (PFI) was outlawed in September of last year in accordance with the terms of the Unlawful operations Prevention Act (UAPA).The Munnar Villa Vista Project (MVVP) was being developed by a company called Munnar Villa Vista Pvt Ltd (MVVPL), according to the Enforcement Directorate (ED).

The goal of the initiative, which was created by PFI leaders and members connected to international organisations, was to launder cash obtained both domestically and abroad in order to finance PFI’s extreme operations.The investigation, according to the agency, turned up infusion of a large volume of unaccounted cash in the project, subscription of MVVPL shares in cash in the name of ghost shareholders, transfer of MVVPL shares without consideration, and bogus transfers made to other companies without any supply of goods or services.

A National Investigation Agency (NIA) FIR that claimed a group of PFI/SDPI (Socialist Democratic Party of India) activists engaged in a criminal conspiracy to train their cadres in the use of explosives and weapons and set up a “terrorist camp” at Narath in Kannur gave rise to the money laundering case.The PFI was established in Kerala in 2006 and had its main office there.