The assets of Palakkad based controversial industrialist V.M.Radhakrishnan worth Rs 23 crore have been confiscated by Enforcement Directorate.The attachment of assets spread over Palakkad, Kozhikode and Wayanad districts were attached on Thursday in connection with the investigation into the Palghat Cements scam.
Five cases of corruption have been registered on the Palghat Cements scam from 2003 to 2007. Radhakrishnan known in and around Palakkad as Chakku Radhakrishnan has been chargesheeted in these corruption cases.The assets confiscated were reportedly amassed by the industrialist during the years from 2003 to 2008. Hotels and flats owned by him have been attached. The confiscation of assets followed massive raids of his house and offices.