ED attaches ₹293-cr assets of Tamilnad Mercantile Bank's ex-chairman

The Enforcement Directorate on Tuesday said it has seized shares worth ₹293.91 crore belonging to Tamilnad Mercantile Bank's (TMB) former chairman Nesamanimaran Muthu under the FEMA law. According to ED, the shareholdings seized were of four Indian companies, of which three are unlisted entities. The investment was made without RBI's permission and non-disclosure to Indian regulators, ED added.