ED seizes posh Mumbai properties worth Rs 32 cr

New Delhi, April 11

The ED today said it had seized two prime properties worth over Rs 32 crore in connection with a Foreign Exchange Management Act (FEMA) case against a Mumbai-based woman for allegedly holding undisclosed assets abroad.

The FEMA probe revealed that Jaya Patel, daughter of late Parmanand Tulsidas Patel, had “illegally amassed” properties in foreign countries like the USA and the UK, it said. “Searches were conducted at the residential and office premises of Jaya Patel and her associate, which resulted in the seizure of incriminating documents about the illegal acquisition of undisclosed foreign assets,” the ED said in the statement.

Jaya, it said, is the beneficial owner of a flat at Chelsea Embankment, London, valued at 15,25,000 pound and another in Central Park, New York, valued at $25,60,000. — TNS