JP Morgan's Rs 187 Crore-Assets Attached, Firm Denies Wrongdoing

The Enforcement Directorate on Wednesday informed the Supreme Court that it has attached the assets worth Rs 187 crore of multi-national firm JP Morgan alleged to have been involved in syphoning of Amrapali Group home buyers money.

The firm, JP Morgan India on other hand denied any wrong doing and said that attachment of properties by the Enforcement Directorate is blatantly illegal as it was not part of any kind of financial dealing with Amrapali Group and it was JP Morgan Singapore and Mauritius which had allegedly invested in the real estate group.

A bench of Justices Arun Mishra and UU Lalit asked the Enforcement Directorate to file a short reply on the grievance raised by the JP Morgan India.