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

ANI | Updated: Dec 03, 2021 21:18 IST


New Delhi [India], December 3 (ANI): 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. (ANI)

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