Court Orders Seizure of ₹128 Crore in Uttar Pradesh’s 1st FEOA Case
Representative Image LUCKNOW: On Thursday, a special court ordered the confiscation of assets valued at approximately Rs 128 crore in connection with the fugitive economic offender proceedings initiated by the Enforcement Directorate (ED) against the Shine City Group based in Uttar Pradesh, along with its fugitive promoter, Rashid Naseem, accused of deceiving investors. Officials noted that this decision was made under the Fugitive Economic Offenders Act (FEOA) of 2018, marking the first case of asset confiscation via this mechanism in Uttar Pradesh. The ED will confiscate movable and immovable assets worth Rs 127.98 crore, which had been previously attached under…