Panama leaks: Enforcement Directorate seizes foreign assets worth Rs 7 crore of Delhi jeweller

ED said it was the first instance of seizure of foreign assets after the FEMA was amended recently and the ED was empowered to take action in cases where illegal assets were stashed abroad

By: PTI | New Delhi | Updated: June 15, 2017 9:25 pm
panama leaks, enforcement directorate, panama papers, ed delhi seizure, delhi news, india news, latest news, indian express The business entity was identified by the Enforcement Directorate as Mehrasons Jewellers.

The Enforcement Directorate has attached foreign assets worth Rs 7 crore of a Delhi-based jeweller in connection with its probe into foreign exchange violation in the Panama Papers leak case.

The business entity was identified by the ED as Mehrasons Jewellers.

The agency said it was the first instance of seizure of foreign assets after the Foreign Exchange Management Act (FEMA) was amended recently and the ED was empowered to take action in cases where illegal assets were stashed abroad.

The amendment was made by the government in Section 37A of the FEMA.

The Panama Papers, that was brought to the fore by the International Consortium of Investigative Journalists (ICIJ) a few years ago, had about 500 Indian names in it. They were alleged to have stashed assets abroad illegally.

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  1. R
    Ravindra Sharma
    Jun 16, 2017 at 8:44 am
    All these are farce and eyewash just only to fool the country only otherwise if govt has the will power then why not attaching the properties of infamous industrialists , politicians and others ?
    Reply
    1. M
      Murthy
      Jun 16, 2017 at 12:54 am
      No raid on Aishwarya Rai even though she is involved in PANAMA PAPERS, because she paid back Bharat Mata in kind as she was asked by Modi to MEET Francois Hollande that night and CLINCHED THE RAFAEL DEAL AND SAVED 1 BILLION FOR BHARATIANS. Modi added one more feather to his cap-MAMA-PIMP, and all those who advised him too!!!
      Reply
      1. A
        arc
        Jun 16, 2017 at 12:10 am
        7 crore? That's all? Who pocketed the rest? ED, Jaitley and BJP? And what about Modi's pals the diamond smugglers of Gujarat? All above board? No raids on them?
        Reply
        1. S
          SHEKAR
          Jun 15, 2017 at 10:56 pm
          What about other people i.e. 499 or whatever the actual figure. Why The Government is keeping quiet. PM PROMISED TO TRANSFER MONEY TO POOR MIDDLE CLASS PEOPLE AFTER RECOVERING MONEY FROM UNSCRUPULOUS ELEMENTS. FM HAS NO INTENTION. HIS INTENTION IS TOTALLY DIFFERNET. HE MAY SUPPORT BNIG BUSINESSMEN AND NOT POOR PEOPLE. HOW POLITICAL PARTIES ARE FOOLING PEOPLE? GOD IS SEEING. DON'T THINK YOU WILL BE ESCAPED AFTER CHEATING PEOPLE. JANARDHAN VASUDEV PUNISH POLITICIANS WHO GAVE FALSE PROMISE AND HELPED ONLY RICH PEOPLE. ACTION AGAINST AJIT PAWAR IS STOPPED ABRUPTLY. HE HAS GOT GREAT POLITICAL INFLUANCE.
          Reply
          1. H
            Harish Nayak
            Jun 15, 2017 at 11:08 pm
            GH NTA TRANSFER. No body told like that. Still you are dreaming that go to CONgress office.
            Reply
            1. T
              Tushar
              Jun 16, 2017 at 5:56 am
              No body wants such money dude atleast bring back India s money as he promised .... Wo bhi promise nahi kiye te ? 😛😛😛
              1. A
                Avinash
                Jun 16, 2017 at 6:14 am
                Choos le pura...
            2. T
              Truth
              Jun 15, 2017 at 10:53 pm
              ED, CBI, IT, etc., should not turn a blind-eye to BJP supporters for all kinds of offense committed by them........Unfortunately, we haven't seen that happen at all !
              Reply
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