Enforcement Directorate (ED) Seizes Property of 103 Persons Worth Rs. 2406.28 Lacs under FEMA in Last Two Years

Press Information Bureau

Government of India

Ministry of Finance

29-November-2012 17:58 IST

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, 20102 (PMLA) and during investigation property of 58 persons valued at Rs. 56965.32 lacs was attached in the same period.

In the interest of investigation under the provisions of FEMA/PMLA, the names/details of individuals can not be disclosed by the Enforcement Directorate.

This was stated by the Minister of State for Finance, Shri S.S. Palanimanickam in a written reply to a question in the Rajya Sabha today.

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