Chennai: The Enforcement Directorate (ED) has attached the assets of Udayanidhi Stalin Foundation owned by actor Udayanidhi Stalin in connection with the money laundering probe. Assets worth Rs 36.3 crore and bank deposits of Rs 34.7 lakh were attached by ED.
The action is taken by the ED in the case that Kallal Group and others defrauded the Lyca Group of Rs 300 crore. Lyca Productions, which produced the box office hit films Ponniyan Selvan 1 and 2, was founded in 2014 by Subaskaran Allirajah. The evidence found in the investigation revealed that Udayanidhi Stalin Foundation has received Rs 1 crore of this defrauded money.
The ED conducted the investigation on the basis of the case registered by the Central Crime Branch in Chennai. The probe, being conducted under various sections of Prevention of Money Laundering Act (PMLA), is against the Kallal Group and the UK-based Lyca Group and its Indian companies Lyca Productions and Lyca Hotels. The ED recently conducted raids against the two entities in April and early this month. More investigations are ongoing in the incident
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