The Enforcement Directorate (ED) has attached Assets worth over Rs 59 crore in a money laundering investigation linked to an alleged GDR scam. The assets belong to London-based Arun Panchariya, Sanjay Aggarwal, and India Focus Cardinal Fund. The ED alleges that Panchariya and his associates designed and executed a fraudulent GDR scheme with Farmax India Limited to cheat Indian investors. GDR proceeds of USD 71.91 million were not repatriated to India, and the case stems from a Telangana Police FIR filed against the accused earlier.

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