![ED seizes ₹30.60 cr investments in Pandora Papers leak case against businessmen brothers](https://th-i.thgim.com/public/incoming/69ywb0/article66979317.ece/alternates/LANDSCAPE_1200/IMG_DK_Shivakumar_at_ED__2_1_K3B402HT.jpg)
ED seizes ₹30.60 cr investments in Pandora Papers leak case against businessmen brothers
The Hindu
Investments in securities worth ₹30.60 crore have been seized in connection with an alleged foreign exchange violation case against Vikram Swarup and Gaurav Swarup whose names figured in global financial data leaks called ‘Pandora Papers’
Investments in securities worth ₹30.60 crore have been seized in connection with an alleged foreign exchange violation case against Vikram Swarup and Gaurav Swarup whose names figured in global financial data leaks called 'Pandora Papers', the Enforcement Directorate (ED) said on June 17.
The Pandora leaks stated the Indian businessmen brothers were "beneficial owners" in a company, Epsilon Enterprises Ltd, incorporated in British Virgin Islands, the agency said in a statement.
The 'Pandora Papers' global leaks surfaced in 2021 after the International Consortium of Investigative Journalists (ICIJ) came out with 2.94 terabyte of data trove that exposed the offshore secrets of wealthy elites from more than 200 countries and territories including India.
The investigation was stated to be based on a leak of confidential records of 14 offshore service providers that give professional services to wealthy individuals and corporations seeking to incorporate shell companies, trusts, foundations and other entities in low or no-tax jurisdictions.
"Vikram Swarup and Gaurav Swarup were the beneficiaries in bank accounts of Epsilon Enterprises Ltd. maintained with Standard Chartered Bank, Jersey and the Bank J. Safra Sarasin, Switzerland."
"Investigation found that the Swarup brothers were holding assets in the form of foreign exchange in these accounts in contravention of Section 4 of the Foreign Exchange Management Act, 1999," the ED said.
Assets totalling ₹30.60 crore in the form of investments in securities were identified and seized under section 37A of FEMA and further investigation is under progress, it said.
![](/newspic/picid-1269750-20240610171750.jpg)
“We are judges and therefore, cannot act like Mughals of a bygone era ... the writ courts in the guise of doing justice cannot transcend the barriers of law,” the High Court of Karnataka observed while setting aside an order of a single judge, who in 2016 had extended the lease of a public premises allotted to a physically challenged person to 20 years contrary to 12-year period stipulated in the law.
![](/newspic/picid-1269750-20240610165159.jpg)
The High Court of Karnataka on Monday declined to interfere, at present, in the investigation against a Bharatiya Janata Party worker, who is among the accused persons facing charges of circulating obscene clips, related to “morphed” images and videos clips related to Prajwal Revanna, former Hassan MP, in public domain through pen drives and other modes.
![](/newspic/picid-1269750-20240610163823.jpg)
The 16th edition of Bhoomi Habba was held on June 8, at the Visthar campus. The festival drew a vibrant crowd who came together to celebrate eco-consciousness through a variety of engaging activities, creative workshops, panel discussions, interactive exhibits and performances, all centered around this year’s theme: “Save Water, Save Lives.”