ED confiscates agricultural land worth Rs 1.76 cr of ex-director of private company

By ANI | Published: December 3, 2021 09:18 PM2021-12-03T21:18:34+5:302021-12-03T21:30:13+5:30

Enforcement Directorate on Friday has confiscated agricultural land measuring 4.26 acres worth Rs 1.76 Crore of an NRI who is a former director of M/s Laundry Spot Private Limited for contravening the provisions of the Foreign Exchange Management Act (FEMA).

ED confiscates agricultural land worth Rs 1.76 cr of ex-director of private company | ED confiscates agricultural land worth Rs 1.76 cr of ex-director of private company

ED confiscates agricultural land worth Rs 1.76 cr of ex-director of private company

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Enforcement Directorate on Friday has confiscated agricultural land measuring 4.26 acres worth Rs 1.76 Crore of an NRI who is a former director of M/s Laundry Spot Private Limited for contravening the provisions of the Foreign Exchange Management Act (FEMA).

A penalty of Rs 21.96 lakhs has also been levied.

"ED has confiscated agricultural land measuring 4.26 acre worth Rs 1.76 Crore of an NRI, former director of M/s Laundry Spot Private Limited for contravening the provisions of FEMA, 1999. A penalty of Rs 21.96 lakhs has also been levied," tweeted ED.

( With inputs from ANI )

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