The attachment of shares worth ₹134 crore by officials from the Enforcement Directorate (ED) in the Karvy case has been challenged by businessman Adhiraj Parthasarathy. The shares were held in the name of Adhiraj Parthasarathy, the son of C. Parthasarathy, the CMD of Karvy Stock Broking Ltd (KSBL) under the Prevention of Money Laundering Act (PMLA) of 2002, said an official release from the ED.
“These shares were allotted to me and held by me in a legitimate manner. The existence of the concerned shares was disclosed to the ED in writing on the date they were issued, which was October 25, 2021. The probe by ED is arbitrary and illegal action of attachment has resulted in a situation where a genuine approved transaction has been held up for no legitimate reason, and this will be contested in the appropriate legal forums in due course,” said the businessman.
The officials from the Directorate of Enforcement (ED) provisionally attached assets worth ₹134.02 crore of KFin Technologies Ltd (KFintech). The total attachment in this case stands at ₹2,229.56 crore, said the official in a release earlier this week.
