August 28, 2024: DMK MP S Jagathratchakan on Wednesday was slapped with a penalty of Rs 908 crore in a case related to the violation of foreign exchange rules. The Enforcement Directorate statement said that properties worth Rs 89.19 crore seized in September 2020, have been confiscated following an adjudication order under the Foreign Exchange Management Act (Fema) issued on August 26.

The federal agency acted on a complaint initiated by a business man from Tamil Nadu.

The investigation led to a seizure order dated September 11, 2020, under Section 37A of Fema, for various movable and immovable properties belonging to DMK MP S Jagathratchakan and his family members. These properties are valued at Rs 89.19 crore.

The investigation, it said, resulted in the passing of seizure order, dated September 11, 2020 under section 37A of Fema for various movable and immovable properties in the name of the MP and his family members.