The Indian Enforcement Directorate (ED) revealed on Monday that it has seized INR 2.74 crore ($381,487) worth of assets from a Kolkata-based business family. The move comes after it reported that the family was involved in a Swiss bank account scandal linked to the Panama Papers leak. The properties seized under the Foreign Exchange Management Act (FEMA) reportedly include fixed deposits, bank balances and land in Kolkata owned by Sanjay Murarka and the now-deceased Shyama Prasad Murarka. Meanwhile, in a separate raid in Bengaluru, ED agents searched the offices of parvathi Tex and the home of Rajendra Patil after Patil’s name was allegedly found in the Panama Papers. ED agents allege Patil invested INR 66.35 crore in offshore tax havens.
ED seizes assets worth Rs 2.74 crore of Kolkata business family in Panama Papers case, conducts Bengaluru raids.
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