ED imposes Rs 908 cr fine on DMK MP Jagathrkshakan

Chennai, Aug 28 The Enforcement Directorate (ED) on Wednesday imposed a fine
of Rs 908 crore under the Foreign Exchange Management Act (FEMA) on DMK MP and
former Union Minister S Jagathrakshakan.
In a social media post, the ED said ED Chennai had conducted investigation under FEMA
against Jagathrakshakan, a businessman from Tamil Nadu and Member of Parliament, his
family members and related Indian entity.
The properties worth Rs. 89.19 Crore which was seized in terms of Section 37A of FEMA
was also ordered for confiscation, and penalty of Rs.908 Crore (approx.) is levied vide
Adjudication Order passed on August 26, 2024.