ED fines DMK MP S Jagathrakshakan and family ₹908 crore in FEMA case
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Aug 28, 2024 04:11 PM IST
DMK MP S Jagathrakshakan and family fined ₹908 crore by ED in FEMA case, ₹89 crore assets seized.
The Enforcement Directorate (ED) has fined DMK MP S Jagathrakshakan and his family ₹908 crore in a Foreign Exchange Management Act (FEMA) case, with assets worth ₹89 crore confiscated, the investigating agency said on Wednesday.
DMK MP S Jagathrakshakan was a minister of state in the UPA-2 government led by Manmohan Singh. (X/Jagathofficial)
The ED in Chennai conducted an investigation under FEMA against Tamil Nadu MP and businessman Jagathrakshakan, along with his family members and associated Indian entity. Properties valued at Rs. 89.19 crore, seized under Section 37A of FEMA, were ordered for confiscation, ED said in an X post.
Additionally, a penalty of approximately ₹908 crore was levied through an Adjudication Order issued on Monday, it added.
This is a developing story. Please get back to check for updates.
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