Business »  Topic »  Amrapali case: SC allows ED to attach assets of JP Morgan

Amrapali case: SC allows ED to attach assets of JP Morgan


The Supreme Court on Friday allowed the Enforcement Directorate (ED) to attach properties of Mauritius-based JP Morgan and its directors for violation of money-laundering laws in connection with the Amrapali case.

JP Morgan, which was engaged in a transaction with the now-defunct Amrapali Group, had allegedly siphoned off homebuyers’ money in violation of the Foreign Exchange Management Act and FDI norms.

The Supreme Court on Friday allowed the Enforcement Directorate (ED) to attach properties of Mauritius-based JP Morgan and its directors for violation of money-laundering laws in connection with the Amrapali case.

JP Morgan, which was engaged in a transaction ...


Read the full text financialexpress