New Delhi, 17 June (Hindustan Times). The Enforcement Directorate (ED) has attached assets worth Rs 30.60 crore in the Pandora Papers leak case. The probe agency has attached investments in securities belonging to Vikram Swaroop and Gaurav Swaroop in violation of Foreign Exchange Management (FEMA) provisions.
The Enforcement Directorate gave this information in a statement released on Saturday. Investments in securities worth Rs 30.60 crore have been seized in the alleged FEMA violation case against two brothers, Vikram Swaroop and Gaurav Swaroop, whose names surfaced during the global financial data leak called Pandora Papers, the agency said. .
According to the probe agency, Indian businessmen Vikram Swaroop and Gaurav Swaroop were the beneficiaries in the bank accounts of ‘Epsilon Enterprises Limited’ in the Pandora Papers case. These accounts were in Standard Chartered Bank, Jersey and Bank J Safra Saracin, Switzerland. The ED said the investigation found that the Swaroop brothers had assets in the form of foreign currency in these accounts, which is in violation of section 4 of the Foreign Exchange Management Act (FEMA) 1999. It has been seized under section 37A of FEMA. Further investigation is going on in this matter.
