ED Fines ₹908 Crore on DMK MP Jagathratchakan for Foreign Exchange Violations
3 months, 3 weeks ago

ED Fines ₹908 Crore on DMK MP Jagathratchakan for Foreign Exchange Violations

The Hindu  

The Enforcement Directorate has imposed a red penalty of ₹908 crore on S. Jagathrakshakan, Arakkonam DMK Member of Parliament, for violations under the Foreign Exchange Management Act. The penalty order was passed by the ED on Monday based on the Seizure Order dated September 11, 2020, under Section 37A of FEMA in which various movable and immovable properties held in the name of Jagathrakshakan and his family members, totally valued at ₹89.19 crore, were seized. In a press release, the ED said the penalty was levied after the Madras High Court dismissed the writ appeals of Jagathrakshakan through order dated July 23 this year. The ED had charged Jagathrakshakan and his family members for violations of various FEMA provisions, particularly with respect to their investment to the tune of ₹42 crore into a shell company incorporated in Singapore during the year 2017 and acquisition/holding of Singapore foreign shares and its subsequent transfer amongst the family members in defiance of the provisions of FEMA.

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History of this topic

ED slaps Rs 567 crore fine on TN firm in FEMA probe
1 month, 3 weeks ago

ED slaps Rs 567 crore fine on TN firm in FEMA probe

New Indian Express  

CHENNAI: The Enforcement Directorate, Chennai, on Friday said it has slapped a penalty of Rs 566.5 crore and ordered the confiscation of properties worth Rs 195 crore of Chennai-based GI Retail Private Ltd for violation of the Foreign Exchange Management Act in a case pertaining to transfer of shares of a company owned by it to German firm Wirecard through …

ED fines DMK MP Jagathrakshakan and family ₹900 crore in FEMA case
3 months, 3 weeks ago

ED fines DMK MP Jagathrakshakan and family ₹900 crore in FEMA case

Live Mint  

The Enforcement Directorate on Wednesday said that a fine of ₹900 crore has been slapped in FEMA case against DMK MP Jagathrakshakan and family members. The Central probe agency said that assets worth ₹89 crore have been confiscated in a case related to the violation of foreign exchange rules. Issuing a statement, the ED stated that properties worth ₹89.19 crore, …

₹264 cr fraudulent TDS refunds: ED attaches assets including Malabar Hill flat, lands in Khandala and Lonavala
5 months, 1 week ago

₹264 cr fraudulent TDS refunds: ED attaches assets including Malabar Hill flat, lands in Khandala and Lonavala

Hindustan Times  

Mumbai: The Enforcement Directorate has provisionally attached movable and immovable assets worth ₹14.02 crore in its money-laundering investigation linked to an alleged fraudulent withdrawal of TDS refunds totalling ₹263.95 crore from the Income Tax department. HT Image The attached assets comprise a flat in Malabar Hill, land parcels in Lonavala and Khandala, bank balances, insurance policies, and fixed deposits, estimated …

Seizure of ₹3.99 crore | Madras High Court dismisses plea for a probe by ED under money laundering law
7 months, 4 weeks ago

Seizure of ₹3.99 crore | Madras High Court dismisses plea for a probe by ED under money laundering law

The Hindu  

The Madras High Court on Wednesday, April 24, 2024, dismissed a writ petition that sought a probe by the Enforcement Directorate with respect to the seizure of ₹3.99 crore from three train passengers at Tambaram railway station in Chennai on April 7, and another reported seizure of ₹28.5 lakh from the DMK Tirunelveli East district secretary’s office on April 4. …

FEMA violation: ED issues notice to Gangula's family members
1 year, 3 months ago

FEMA violation: ED issues notice to Gangula's family members

Deccan Chronicle  

Karimnagar: The Enforcement Directorate has issued a show-cause notice to Swetha Granites and Swetha Agencies owned by the family members of the Backward Class Welfare minister Gangula Kamalakar for violating the Foreign Exchange Management Act. The ED officials identified irregularities in exporting granite material to China by Swetha granite companies. In November last year, ED and Income Tax department officials …

ED files chargesheet against Farooq Abdullah in J&K cricket association case
2 years, 4 months ago

ED files chargesheet against Farooq Abdullah in J&K cricket association case

The Hindu  

The Enforcement Directorate has filed a supplementary chargesheet against former Jammu & Kashmir Chief Minister Farooq Abdullah and others in connection with the alleged embezzlement of the State cricket association’s funds. Among those arraigned are former J&K Cricket Association treasurer Ahsan Ahmad Mirza, and Mir Manzoor Gazanffer, who had been a member of its finance committee from 2006 to 2009. …

ED seizes ₹11.88 crore from Jharkhand CM Soren’s aide Pankaj Mishra, others
2 years, 5 months ago

ED seizes ₹11.88 crore from Jharkhand CM Soren’s aide Pankaj Mishra, others

The Hindu  

The Enforcement Directorate on Friday said it has seized ₹11.88 crore of cash kept in bank accounts of Pankaj Mishra, the political representative of Jharkhand Chief Minister Hemant Soren, and others as part of a money laundering investigation into alleged illegal mining in the State. "Cash amounting to Rs 11.88 crore lying in 37 bank accounts belonging to Pankaj Mishra, …

ED slaps penalities on Amnesty India International, Aakar Patel
2 years, 5 months ago

ED slaps penalities on Amnesty India International, Aakar Patel

The Hindu  

The Adjudicating Authority of the Enforcement Directorate has imposed a penalty of ₹51.72 crore on Amnesty India International Private Limited and ₹10 crore on its former Chief Executive Officer Aakar Patel in connection with alleged violation of Foreign Exchange Management Act in 2019. “After getting a detailed reply from the AIIPL and following the principal of natural justice, the Adjudicating …

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