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The Enforcement Directorate (ED) has imposed a Rs 908 crore penalty on DMK MP S Jagathrakshakan and his family for violations under the Foreign Exchange Management Act (FEMA). Additionally, assets worth Rs 89 crore have been seized. The investigation revealed that Jagathrakshakan, a businessman from Tamil Nadu, invested Rs 42 crore into a shell company in Singapore in 2017 and acquired Singapore Foreign Shares, which were subsequently transferred among family members. The ED's actions are part of a broader scrutiny involving multiple raids on Jagathrakshakan's properties and businesses.
The Enforcement Directorate has attached assets worth ₹834 crore in a money laundering case involving former Chief Minister Bhupinder Singh Hooda and others, including EMAAR and MGF Developments Ltd. "This is an old case. I have nothing to do with it," says Bhupinder Singh… https://t.co/ZnAuDOJkYq
ED has attached immovable properties, spanning 401.65479 acres and valued at Rs. 834.03 crore belonging to #EMAAR India Ltd and MGF Developments Ltd https://t.co/4fwpJpe4Pc
ED attaches Emaar India & MGF Developments land worth Rs 834 Cr in PMLA case READ MORE: https://t.co/aWPvahXrUz