Pandora paper leaks, American journalist

New Delhi [India], June 17 : Directorate of Enforcement (ED) has seized total assets worth of Rs 30.60 Crore in the form of investments in securities related to Vikram Swarup and Gaurav Swarup under the provisions of the Foreign Exchange Management Act, 1999 in the case of Pandora Paper Leaks, an official statement said on Friday.According to ED, it was revealed in the Pandora Leaks that Vikram Swarup and Gaurav Swarup were beneficial owners in a company Epsilon Enterprises Ltd. incorporated in British Virgin Island.Further investigations also revealed that Vikram Swarup and Gaurav Swarup were the beneficiaries in bank accounts of Epsilon Enterprises Ltd. maintained with Standard Chartered Bank, Jersey and the Bank J. Safra Sarasin, Switzerland.The investigation conducted under FEMA, 1999 revealed that the Swarup brothers were holding assets in the form of "foreign exchange" in the accounts maintained with Standard Chartered Bank, Jersey and the Bank J. Safra Sarasin, Switzerland in the name of said Epsilon Enterprises Ltd. in contravention of Section 4 of FEMA, 1999.During investigation, assets totaling Rs 30.60 Crore in the form of investments in securities were identified and seized under Section 37A of FEMA, 1999.Further investigation in the matter is under progress under FEMA, 1999.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Pandora Paper LeaksFOLLOW

Pandora paper leaks, Latest News

National :ED seizes Rs 31 cr worth assets of Swarups in Pandora Papers leaks case

New Delhi [India], June 17 : Directorate of Enforcement (ED) has seized total assets worth of Rs 30.60 Crore ... ...