The Enforcement Directorate (ED) on Thursday said it had provisionally attached immovable and movable properties worth Rs 28.19 crore under the Prevention of Money Laundering Act, 2002, (PMLA) in an ongoing investigation against M Thiagarajan and Paramount Airways, Madurai.
The attached immovable properties include the factory premises of Paramount Mills, a company belonging to M Thiagarajan, stated ED. Thiagarajan currently runs and controls Paramount Mills in the name of Briar Knoll Mills.
The shares held by Thiagarajan in Paramount Textile Mills have also been attached. Thiagarajan was the promoter and managing director of Paramount Airways, a commercial airline company, which till 2010 was operating in the domestic sector.
