A Delhi businessman, M M Sehgal, was arrested by the Enforcement Directorate late on Thursday night on charges of having acquired $31,000 in the United States in violation of the Foreign Exchange Regulations Act (Fera).
He has also been charged with dealing in illegal acquisition and transaction of foreign exchange.
Sehgal was arrested after being interrogated by the Delhi unit of the directorate and was produced before the duty magistrate, Ravinder Dudeja, at his residence.
The duty magistrate remanded Sehgal to judicial custody till April 11. The counsel for the Enforcement Directorate, M L Chugh, told the magistrate that the alleged Fera violation by Sehgal was detected during investigations in January this year.
Sehgal has been charged with dealing in illegal acquisition and transaction of foreign exchange.
In another case, controversial godman Chandraswami was remanded to judicial custody till April 10 on charges of Fera violations worth over Rs 9 crore. Chandraswami had been arrested by the Enforcement Directorate late on Thursday after he was called for interrogation regarding the donations received by Vishwa Dharmayatan Trust, of which he is the promoter trustee.
