Enforcement Directorate (ED) Seizes Property of 103 Persons Worth Rs. 2406.28 Lacs under FEMA in Last Two Years
ENFORCEMENT Directorate of the Ministry of Finance has registered 1993 cases under the provisions of Foreign Exchange Management Act, 1999 (FEMA) in the last two years and property of 103 persons valued at Rs. 2406.28 lacs was seized, during investigation.
Similarly, Enforcement Directorate has registered 396 cases under the Prevention of Money Laundering Act, 2002 (PMLA) and during investigation, property of 58 persons valued at Rs. 56965.32 lacs was attached in the same period.
This was stated by the Minister of State for Finance, S.S. Palanimanickam in a written reply to a question in the Rajya Sabha yesterday. The Minister also said that the names/details of individuals cannot be disclosed by the Enforcement Directorate.