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).
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 .
A sharp rise in rates and a steeper selloff in Indian assets isn’t inevitable, but it could become so if the crisis drags on and oil prices keep moving higher
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: Sunday, May 16, 2021, 6:20 PM IST
Cairn identifies $70 billion of Indian assets for seizing to recover $1.2 billion from government: After Air India, is Shipping Corp next?
Cairn identifies $70 billion of Indian assets for seizing to recover $1.2 billion from the government
UK s Cairn Energy has identified USD 70 billion of Indian assets overseas for potential seizure to collect USD 1.72 billion due from the government.
The assets identified range from Air India s planes to vessels belonging to the Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs, three people familiar with the matter said.
These assets are across several jurisdictions, they said without giving further details.