ED seizes Rs 22 crore assets of Congress MLA Rana Gurjit Singh
Babushahi Bureau
Kapurthala (Punjab), April 4, 2025: In a major development, the Enforcement Directorate (ED) has seized assets worth ₹22 crore belonging to Congress MLA Rana Gurjit Singh from Punjab's Kapurthala constituency.
The action was taken under the provisions of the Foreign Exchange Management Act (FEMA).According to sources, the seized assets include a sugar mill and other properties linked to Singh, located at multiple locations across the state.
The investigation dates back to financial transactions carried out between 2005 and 2007, during which loans amounting to nearly ₹100 crore (approximately $18 million) were obtained from foreign banks through shareholders—allegedly without proper disclosures to regulatory bodies like SEBI and the RBI.
The case also involves Rana Gurjit’s son, Rana Inder Pratap Singh, who was questioned by the ED in 2018 in connection with the same matter.Authorities have noted that Global Depository Receipts (GDRs) were used in a manner that bypassed standard regulatory approvals.