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ED: Assets worth Rs 305 crore seized from owner of Joalukkas jewelry chain, ED takes action

Pankaj Prasad
Enforcement Directorate
Enforcement Directorate

The Enforcement Directorate took major action on Friday.

The Enforcement Directorate took major action on Friday. The ED has attached assets worth over Rs 305 crore belonging to the owner of Joalukkas jewelery chain in a FEMA case related to money laundering. 

Before this fixed deposits of Rs. 16 crore seized related to Alfajio Limited. This action was taken by the Enforcement Directorate under the provisions of the Foreign Exchange Management Act (FEMA).