DMK MP Jagathrakshakan, Son Sundeep Anand Move Madras High Court Over ₹161.12-Crore FEMA Case
DMK Member of Parliament S. Jagathrakshakan and his son Sundeep Anand, who is associated with Tamilaga Vettri Kazhagam (TVK), have approached the Madras High Court in connection with proceedings involving alleged violations of the Foreign Exchange Management Act (FEMA). The case concerns financial transactions and investments linked to overseas companies, with the amount involved reported at ₹161.12 crore.
The legal dispute relates to investments in Singapore-based Silver Park International Pte. Ltd. The Enforcement Directorate (ED) had alleged that foreign shares were acquired and subsequently transferred among family members without the necessary regulatory approvals from the Reserve Bank of India.
The case has a lengthy legal history. In August 2024, the ED imposed penalties amounting to approximately ₹908 crore on Jagathrakshakan and other family members and ordered the confiscation of properties valued at ₹89.19 crore. The agency’s allegations included investments in Singapore-based entities and transactions involving foreign shares. These were allegations under FEMA and were contested by the affected parties.
The matter subsequently reached the Supreme Court. On April 1, 2026, the Supreme Court set aside the earlier Madras High Court orders and the ED adjudication order imposing the penalty and ordering confiscation. The court held that the adjudication process had proceeded on an incorrect legal premise and directed that the proceedings be revived from the show-cause notice stage.
The Supreme Court also emphasised that the pending appeal concerning the original seizure order had to be decided before the FEMA adjudication proceedings could resume. This was an important development in the legal dispute involving the MP and his family.
In May 2026, the Appellate Tribunal under SAFEMA dealt with connected appeals following the Supreme Court’s ruling. The tribunal’s proceedings reflected the distinction between the seizure of assets and the separate adjudication of alleged FEMA violations.
The latest reported move before the Madras High Court, involving ₹161.12 crore, therefore comes against the backdrop of several years of litigation, multiple proceedings and challenges to the ED’s actions.
Important clarification: The precise details of the newly reported ₹161.12-crore petition, including its case number, specific prayers and the court’s response, could not be independently verified from the available court records. The ₹908-crore penalty and ₹89.19-crore confiscation figures relate to the earlier 2024 ED order, which was subsequently set aside by the Supreme Court.
