The Enforcement Directorate (ED) has seized eight immovable properties worth ₹27.83 crore for breaking the Foreign Exchange Management Act (FEMA). Using intelligence and searches, ED found some rich individuals invested abroad, especially in Dubai, using hawala money transfers. In Delhi, searches uncovered documents showing hidden foreign assets bought against FEMA rules. "Kapil Aggarwal and Ms. Sangeeta Aggarwal, both residents in India, jointly acquired and held 10 immovable properties in Dubai for AED 1,94,03,975 (about ₹34.14 crore) without any outward remittance through authorised banking channels," the ED said. They also did not provide proof of the source of overseas funds or RBI approval for the foreign property purchases. Because of this, the ED ordered the seizure of five immovable properties in India worth around ₹17.83 crore. Similarly, S. Bhattacharya, another Indian resident, bought two properties worth AED 40,07,319 (around ₹9.83 crore) in Dubai without banking remittance or RBI approvals. The ED issued orders to seize three immovable assets worth nearly ₹10 crore belonging to him. All actions are under Section 37A of FEMA. The ED continues to clamp down on illegal foreign asset acquisitions and hawala route violations. Published - February 04, 2026, 10:26 pm IST