Will defend ED's property attachment order: DB Realty | delhi | Hindustan Times
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Will defend ED's property attachment order: DB Realty

delhi Updated: Aug 31, 2011 19:31 IST

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Real estate firm DB Realty has said it will take all necessary steps to get "vacated" the Enforcement Directorate's order for freezing the company's bank accounts and attachment of its properties in the 2G spectrum allocation scam.

The ED on Tuesday issued orders for attachment of properties worth Rs 223 crore of five real estate companies, including DB Realty in connection with the alleged bribe of Rs 200 crore paid to Kalaignar TV in the 2G scam.

"We would like to put it on record that we have received no such order from the Enforcement Directorate till date. Should such attachment notice be issued, it is our view that this attachment is illegal and we will defend the same and take all necessary steps to get it vacated at the earliest," a DB Realty spokesperson said.

"This in any case will not impact our normal business operations," the spokesperson said.

The value of DB Realty properties affected by the order, according to the agency, is stated to be Rs 52 crore.

The other companies that have been issued similar orders are Dynamix Realty (Rs 134 crore), Conwood Construction and Developers (Rs 22 crore), Nihar Constructions (Rs 1.10 crore) and Eversmile Construction Company (Rs 13 crore).

The agency has made the CBI chargesheet in this regard the basis for the order and the action has been done under the provisions of the Prevention of Money Laundering Act (PMLA).