Nov 13, 01:46 PM

ED Attaches Rs. 3.72 Crore in Allahabad, Seizes Rs. 8.38 Crore from OPG Group; Rs. 22.86 Crore in Mumbai, 20 Accused

The Enforcement Directorate (ED) has taken significant actions against various entities for violations of financial regulations in India. In Allahabad, the ED provisionally attached properties worth Rs. 3.72 crore, which includes a bank balance of Rs. 3.12 crore and a residential flat valued at approximately Rs. 60 lakh, beneficially owned by an individual named Ravi. Concurrently, the ED's Chennai Zonal Office conducted search operations on November 11 and 12, 2024, against the OPG Group for breaches of the Foreign Exchange Management Act (FEMA), 1999, and Foreign Direct Investment (FDI) regulations. Approximately Rs. 8.38 crore in Indian currency was seized from the OPG Group's office and the residences of its directors. Additionally, the ED in Mumbai provisionally attached assets valued at Rs. 22.86 crore on November 8, 2024, in a case involving Amber Dalal and others, which includes various immovable properties. Furthermore, a Prosecution Complaint was filed by the ED in Chennai on September 10, 2024, in a separate case involving Jaffer Sadiq and others, where 20 individuals have been accused.