New Delhi, Mar 3 (IANS): The Enforcement Directorate on Thursday said that it has attached assets worth Rs 7.47 crore including Rs 4.2 crore cash and 6.636 kg of fine gold worth Rs 3.45 crore in connection with a PMLA case.

The assets belong to Rakesh Kumar Garg, the then Chief Engineer (Naval Works), Military Engineer Services (MES), Kathari Bagh Naval Base, Kochi and two others identified as Sanjeev Khanna and Sanjeev Aggarwal.

The ED initiated money laundering investigation on the basis of the FIR lodged by the CBI against Garg and others under sections 120B of the IPC read with sections 7, 8, 10 & 12 of the Prevention of Corruption Act.

It was alleged that Rakesh Kumar Garg had indulged in corrupt practices by way of demanding and collecting illegal gratification of 1 per cent of tender value from contractors for issuing various civil contracts.

The ED learnt during the investigation that Garg, Khanna and Aggarwal had obtained the proceeds of crime in the form of cash totalling to Rs 4.2 crore and 6.636 kg of fine gold valued at Rs 3.45 crore approximately.

Further investigation is the matter is underway.