Enforcement Directorate has attached foreign assets worth of seven crore rupees 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. <br/><br/>The agency said, it is the first instance of seizure of foreign assets after the Foreign Exchange Management Act was amended recently and the ED was empowered to take action in cases where illegal assets are stashed abroad.<br/><br/>The Panama Papers, that was brought to the fore by the International Consortium of Investigative Journalists a few years ago, had about 500 Indian names. They were alleged to have stashed assets abroad illegally.
News On AIR | June 15, 2017 9:59 PM
Panama leaks: ED seizes foreign assets worth Rs 7 cr of Delhi jeweller