Stay updated with the latest - Click here to follow us on Instagram
© The Indian Express Pvt Ltd
Tags:
Journalism of Courage
The Enforcement Directorate (ED) on Monday said it has seized Rs 2.74 crore worth of assets of a Kolkata-based business family which allegedly held a Swiss bank account and whose name figured in the Panama Papers leak.
“The properties, seized under the Foreign Exchange Management Act (FEMA), include fixed deposits, bank balance and land at Kolkata belonging to Shyama Prasad Murarka (deceased) and Sanjay Murarka,” an ED spokesperson said.
“Panama Leaks stated that Shyama Prasad Murarka and Sanjay Murarka were “directors and shareholders in a company called Billipack Limited that was incorporated in the British Virgin Islands,” the spokesperson said.
According to ED, the Murarkas were the beneficiaries in the bank account of Billipack Limited maintained with HSBC, Switzerland. “The investigation found that the Murarka family was holding assets in the form of foreign exchange in various accounts with HSBC Switzerland in their name and in the name of Billipack Limited in contravention of FEMA,” the spokesperson said.
Stay updated with the latest - Click here to follow us on Instagram
