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Enforcement Directorate targets Ram Charan
By: Tupaki Desk | 14 Sep 2013 8:22 AM GMT
The Enforcement Directorate attached 19 villas in Boulder Hills which include that of Ram Charan's plot spread across 1,545 square yards in connection with the Emaar-APIIC scam.
Although Charan purchased the plot and made the payment, No registration has been done in his name until now and the property still belongs to EHTPL on paper. As a result, the plot has been attached which eventually prohibits sale, mortgage, gift in any manner. From now, no one could neither receive the plot nor buy it.
All of these 19 plots have been either in the name of fictitious companies or few individuals. Even though the plots were sold at Rs 50,000 per square yard, on paper it was shown as just Rs 5,000 thus causing huge loss to the APIIC. The book value of these 19 plots would be Rs 72 crore. However, the market value of these expensive villas would be over Rs 100 crore.
Few months ago, CBI even recorded the statement of Charan regarding the purchase of the plot. The actor has been paying a huge price for pouring his hard-earned money in the villa which has connection with a multi-crore scam.
Although Charan purchased the plot and made the payment, No registration has been done in his name until now and the property still belongs to EHTPL on paper. As a result, the plot has been attached which eventually prohibits sale, mortgage, gift in any manner. From now, no one could neither receive the plot nor buy it.
All of these 19 plots have been either in the name of fictitious companies or few individuals. Even though the plots were sold at Rs 50,000 per square yard, on paper it was shown as just Rs 5,000 thus causing huge loss to the APIIC. The book value of these 19 plots would be Rs 72 crore. However, the market value of these expensive villas would be over Rs 100 crore.
Few months ago, CBI even recorded the statement of Charan regarding the purchase of the plot. The actor has been paying a huge price for pouring his hard-earned money in the villa which has connection with a multi-crore scam.
