SC Orders ED to Attach Properties of JP Morgan in Amrapali Case

The Supreme Court asked the Enforcement Directorate (ED) on January 13 to attach Indian properties of JP Morgan, which engaged in a transaction with the now-defunct Amrapali Group to allegedly siphon off home buyers’ money in violation of the Foreign Exchange Management Act (FEMA) and FDI norms.

The ED said it had prima facie found violations of FEMA norms by the U.S.-based JP Morgan and that a complaint in this regard was lodged.

The Supreme Court also allowed the ED to take into custody the defunct group’s CMD, Anil Kumar Sharma, and two other directors, Shiv Priya and Ajay Kumar, who are behind bars on the top court’s order, for interrogation as regards alleged money-laundering offences.