The Enforcement Directorate (ED) has provisionally attached immovable properties which were worth ₹22 crore when the same amount was siphoned off from various housing co-operative societies located in Madhya Pradesh’s Indore. Their present value is close to ₹500 crore.
The ED investigation is based on several FIRs (First Information Report) lodged by the Indore police alleging the illegal sale and alienation of the lands of housing co-operative societies by accused Dilip Sisodiya, alias Deepak Jain Madda, in connivance with others.
According to the agency, the land parcels were initially acquired by housing cooperative societies from the State government to allot housing plots to their members. However, they were fraudulently sold to various accused persons, causing considerable losses to the societies and depriving their members of their rightful ownership of plots.
Several instances of defrauding societies by siphoning off movable assets such as bank accounts have also come to the attention of the ED. The agency arrested Dilip Sisodiya on June 3 and later filed a prosecution complaint (chargesheet) against him. He is currently in judicial custody.
