DMK MP Jagathrakshakan, son Sundeep Anand of TVK move Madras High Court over ₹161.12-crore FEMA case

CHENNAI DMK Lok Sabha member S. Jagathrakshakan, his son J. Sundeep Anand of the TVK, and his daughter J. Sri Nisha have approached the Madras High Court against the seizure of properties worth ₹45.34 crore by the Directorate of Enforcement (ED) for an alleged contravention to the tune of ₹161.12 crore under the Foreign Exchange Management Act (FEMA) of 1999. The First Division Bench of Chief Justice Sushrut Arvind Dharmadhikari and Justice G.

Arul Murugan admitted the individual civil appeals filed by the three family members and ordered notice to the ED. The appellants had challenged an order passed by a FEMA appellate tribunal, located in New Delhi, on May 21, 2026, partly confirming a seizure order issued by the central agency. What is the case about? The issue dates back to the incorporation of Silver Park International Pte. Limited in Singapore on June 15, 2017.

The Memorandum of Articles disclosed that Mr. Jagathrakshakan held 70 lakh equity shares, his son Mr. Anand held 20 lakh shares, and another individual named V.T.