associate sponsors

Llyod
HDFC

Panama Papers leak: ED seizes foreign assets worth Rs 7 crore of Delhi jeweller

New Delhi: 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.

Representational image. AFP

Representational image. AFP

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

The agency said it was the first instance of the 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.


Updated Date: Jun 15, 2017 21:13 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See



{if $hideJSforEU != 'yes'} {/if}