Politics · India Bureau
DMK MP, son challenge property seizure in ₹161-crore FEMA case
Jagathrakshakan and Sundeep Anand of TVK have moved the Madras High Court challenging the seizure of domestic assets worth ₹45.34 crore linked to an offshore company incorporated in Singapore.
LSN India ·
The DMK Member of Parliament and his son, who is associated with the Tamil Maanila Congress (Moopanar), have filed a legal challenge against the freezing of their Indian properties as part of a foreign exchange violation investigation.
The case centres on alleged Foreign Exchange Management Act (FEMA) violations involving a company registered in Singapore. The authorities had seized domestic properties valued at ₹45.34 crore as part of the enforcement action, according to the case details.
The petitioners contend that the property seizures are unjustified and have sought the intervention of the Madras High Court to overturn the action. The total value of assets under investigation in the case stands at ₹161.12 crore.
The matter adds to ongoing scrutiny of cross-border financial transactions and compliance with India's foreign exchange regulations. FEMA cases involving offshore entities and domestic asset transfers have drawn increased regulatory attention in recent years.