ED Seized Assets Worth 294 Crore Of Ex-chairman Of TNM Bank
ED seized assets Worth 294 crore of ex-chairman of TNM Bank. 294 crore shares of ex-chairman of Tamil Nadu Mercantile Bank seized.
The Enforcement Directorate (ED) has attached shares worth over Rs 293.91 crore of Nesmanimaran Muthu, former chairman of Tamil Nadu Mercantile Bank Ltd.
The seized assets are in the form of shares of Muthu alias MGM Maran in four Indian companies Southern Agrifuran Industries Pvt Ltd, Anand Transport Pvt Ltd, MGM Entertainment Pvt Ltd, and MGM Beach Resort Pvt Ltd.
The Central Investigation Agency ED seized assets Worth 294 crore –
The central probe agency has said that Muthu formed two companies in Singapore during the financial years 2005-06 and 2006-07 and invested Rs 293.1 crore.
The ED said, “The investment was made without taking approval from RBI. Also did not tell the Indian regulators the source of such huge investment abroad.
Under Section 37A(1) of the Foreign Exchange Management Act (FEMA), the ED has been empowered to confiscate domestic properties of a person who, being a resident of India, acquired properties in any other country without prior approval from the Reserve Bank of India or invested outside India.
The central probe agency said, “As the foreign investment amount is 529 million Singapore dollars, an equivalent amount of Rs 291.31 crore have been attached.”
Andhra Pradesh: BJP leader’s strange promise, ‘Vote for BJP, will give liquor for 50 rupees-
In Andhra Pradesh, the state president of BJP has given a strange statement.
The BJP leader said that if BJP comes to power in the 2024 assembly elections, they will provide liquor at Rs 50 per bottle. BJP leaders’ speech has become a topic of discussion.
Addressing a public meeting in Vijayawada on Tuesday, BJP state president Somu Veeraraju said, “I am telling you that one crore people are drinking alcohol in the state.
Vote for BJP, we will give you cheap liquor for Rs 75. If the revenue is more than Rs 50 per bottle will give good liquor. During his speech, the BJP leader hit out at the high prices of liquor in the state.
Referring to some of the direct benefit transfer schemes of the state government, he said, “On an average, a person consumes liquor around Rs 12,000 per month.
Jagan Mohan Reddy is collecting all that amount and giving it back in the name of a scheme.
Will make Amaravati the capital.
Veeraraju stressed that we are committed to making Amaravati the capital if we come to power in Andhra Pradesh.
Amaravati will be developed in just three years. He said that the Left parties have ruined the country.
Many big leaders were involved in the meeting.
Let us inform you that former Union Minister Prakash Javadekar, MP YS Chaudhary, MC Ramesh were also present in this meeting.
