India's Elite Under Scrutiny: Hidden Dubai Assets Unveiled
The Enforcement Directorate has seized over half-a-dozen Indian assets valued at Rs 28 crore belonging to Delhi-based high-net worth individuals with undisclosed properties in Dubai. Seizure orders target individuals, including Kapil Aggarwal, Sangeeta Aggarwal, and S Bhattacharya, who allegedly acquired Dubai assets via unauthorized channels.
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The Enforcement Directorate (ED) revealed it has issued seizure orders for Indian assets worth Rs 28 crore belonging to several Delhi-based high-net worth individuals with undisclosed properties and investments in Dubai.
According to the ED, properties associated with Kapil Aggarwal and Sangeeta Aggarwal, totaling AED 1,94,03,975 or Rs 34.14 crore, were acquired without authorized remittance through banking channels or RBI approval.
The ED has also targeted S Bhattacharya, linked to NEC Energy Pvt Ltd, alleging similar violations with Dubai properties worth AED 40,07,319 or Rs 9.83 crore. These individuals are accused of utilizing hawala channels, resulting in legal action under the Foreign Exchange Management Act.
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