Archive · 24 Jul 2026
ED Seizes ₹3.67 Crore Property in Jabalpur Under FEMA
The Directorate of Enforcement (ED) in Bhopal has seized a property worth ₹3.67 crore in Jabalpur.
This action was taken because Priyank Mehta allegedly sent USD 548,000 to the US under a special scheme for investment.
However, the ED says that USD 502,954 of this money was not used for the intended purpose and was instead sent to Portugal to buy property there.
The ED claims this violates Indian foreign exchange laws, so they seized the property in Jabalpur that matches the value of the money allegedly held in Portugal.
The ED seized a property worth ₹3.67 crore in Jabalpur under FEMA.
Priyank Mehta allegedly remitted USD 548,000 under the Liberalised Remittance Scheme (LRS) for investment in the EB-5 Visa Programme in the US.
USD 502,954 was not used for the stated purpose and was transferred to Portugal.
The amount was used to acquire an immovable property in Portugal and the balance was retained in a Portuguese bank account.
The ED seized the property in Jabalpur equivalent to the value of the foreign exchange allegedly held outside India.
- Who
- Priyank Mehta
- What
- Seizure of property worth ₹3.67 crore under FEMA
- When
- Not specified
- Where
- Jabalpur, Madhya Pradesh
- Why
- Alleged violations of FEMA involving foreign exchange remitted for investment in the US
ED's Action
Priyank Mehta's Alleged Violations
Property Seizure
ED's Action
The ED seized a property worth ₹3.67 crore in Jabalpur under FEMA for alleged foreign exchange violations.
Priyank Mehta's Alleged Violations
Priyank Mehta allegedly remitted USD 548,000 under the Liberalised Remittance Scheme (LRS) for investment in the EB-5 Visa Programme in the US.
Foreign Exchange Utilization
ED's Action
The ED claims that USD 502,954 was not used for the stated purpose and was transferred to Portugal instead of being repatriated to India.
Priyank Mehta's Alleged Violations
Priyank Mehta allegedly used the amount to acquire an immovable property in Portugal and retained the balance in a Portuguese bank account.
- Property Value
- ₹3.67 crore
- Foreign Exchange Remitted
- USD 548,000
- Unutilized Amount
- USD 502,954
- Location of Seized Property
- Jabalpur
- Alleged Violation
- Foreign Exchange Management Act (FEMA)
- Investigation Agency
- Directorate of Enforcement (ED), Bhopal
- Investment Programme
- EB-5 Visa Programme in the United States
- Destination of Unutilized Funds
- Portugal