ED seized assets linked to former IPL chairman

New Delhi, December 10: The Enforcement Directorate (ED) on Saturday said it has seized mutual funds valued at Rs 10.35 crore under the FEMA law of a company "controlled" by businessman and former Indian Premier Leauge Chairman Chirayu Amin in the Panama Papers case.

The central probe agency said it seized mutual funds of Whitefield Chemtech Private Limited, "which is controlled by Amin and his family", under section 37A of the Foreign Exchange Management Act (FEMA), reports said.

The amount, equivalent to $1.6 million, has been attached under Section 37A of the Foreign Exchange Management Act (FEMA).

"The name of Mr. Amin and his family members had figured in the Panama Papers case with respect to their stakes or interests in Whitefield Global Investments Limited, in the British Virgin Islands," said the agency.