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GDR fraud case: ED seizes Rs 8 cr worth assets of software development company
Updated On: 20 July, 2023 07:47 PM IST | New Delhi | PTI
The seized assets include 12 immovable properties, the ED said in a statement
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ED logo. File Pic
The Enforcement Directorate on Thursday said it has seized assets worth about Rs 8 crore of a software development company and its directors as part of a foreign exchange violation probe linked to issuance of allegedly fraudulent global depository receipts (GDR).
A GDR is defined as a negotiable financial instrument issued by a depository bank and it enables a company to reach investors in capital markets abroad.
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