ED attaches Rs216 crore assets of Southern Agrifurane Industries, MGM Maran

The Enforcement Directorate (ED), on Thursday said it has attached properties worth Rs 216.40 crore of a Chennai-based firm -- Southern Agrifurane Industries Pvt Ltd (SAIPL) and its promoter, director MGM Maran (former chairman of Tamilnad Mercantile Bank Limited), and his associate MGM Anand, for violating the Foreign Exchange Management Act (FEMA).

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