Chandigarh: The Enforcement Directorate (ED) has seized immovable properties worth over Rs 22.02 crore belonging to Rana Sugars, owned by Kapurthala Congress MLA Rana Gurjit Singh and his son Inder Partap Singh, an independent MLA from Sultanpur Lodhi, for alleged violation of the Foreign Exchange Management Act (FEMA).
Rana Inder Partap Singh is MD of the company named above.
It may be recalled that the ED had been pursuing the FEMA case against the Rana Sugars Ltd, its promoters, directors and others in connection with issuance of global depository receipts (GDR) and non-utilisation of the entire GDR proceeds, since the past few years. The ED had also summoned Rana Inder Partap in 2018.
The Income Tax department had also conducted raids at more than 30 premises linked with Rana about two months ago.
