Enforcement Directorate

SC asks ED, Delhi Police to give details of cases against Unitech directors

The Supreme Court on Wednesday directed the Enforcement Directorate and Delhi Police to submit details of cases against directors of ailing Unitech Ltd to ensure speedy trial and said no inconvenience should be caused to the homebuyers. A bench comprising justices JB Pardiwala and KV Viswanathan said law should take its own course but no further leeway should be given to the accused persons. "Trial must commence and must not go for an indefinite period. We will create a special court to hear these cases exclusively but no further delay should be caused," the bench remarked. The top court posted the matter for hearing on September 30. During the hearing, the court asked where the monies deposited by the homebuyers had gone. "Where has the money gone? Has it travelled beyond the country? What is the role of the investigating agency? Law should be lucid. Confusion created by law is benefitting the accused. We have skillful agencies which can find where the money has gone," the bench

Harish Rawat quits all party posts after ED recovers cash from PA's house

Former Uttarakhand chief minister Harish Rawat on Saturday announced his decision to step down from all party posts after the Enforcement Directorate recovered cash and jewellery from his personal assistant's house. A dozen luxury wristwatches and Rs 32 lakh in cash were seized from the premises of Chandan Singh Jeena during the ED raids undertaken on Thursday. Jeena is currently serving as a personal assistant (PA) to Rawat and had earlier served as officer on special duty (OSD) during the Congress leader's tenure as chief minister during 2014-17.

Mallya evading law, recovery of assets doesn't absolve him: ED to HC

Former liquor baron Vijay Mallya continues to evade the legal process in India, and the recovery of debts by the banks does not absolve him of the money laundering charges, the Enforcement Directorate (ED) has submitted to the Bombay High Court. The central agency on September 8 filed its affidavit in response to a petition filed by Mallya in 2020 seeking a closure of the criminal cases lodged against him. His dispute with the banks was settled after the debts were recovered, he had contended. The ED said movable and immovable properties worth Rs 14,131.6 crore were handed over to the SBI-led consortium, but this does not cancel or lead to the dropping of the money laundering charges against Mallya. He left India in March 2016 and did not appear before the investigating authority despite repeated summons, the agency said in its affidavit, noting that a non-bailable warrant was also issued against him. In November 2016, the high-profile businessman was declared a proclaimed ...

RBI appoints Suman Ray as executive director with effect from September 1

Ray, who was serving as regional director for Maharashtra before his elevation, will look after the DICGC and Premises Department as executive director

Chhattisgarh PSC 'scam' case: ED raids former CM Bhupesh Baghel's PA

The Enforcement Directorate on Tuesday conducted searches at multiple locations in Chhattisgarh, including at the premises of a personal assistant of former chief minister Bhupesh Baghel, in a money laundering probe linked to alleged irregularities at the state Public Service Commission, officials said. They said a total of seven locations are being raided as part of the probe initiated under the Prevention of Money Laundering Act (PMLA). The investigation pertains to alleged irregularities at the Chhhattisgarh PSC (CGPSC) and the searched premises include that of K K Chandrakar, the personal assistant of Baghel, the officials said. Further details are awaited.

ED freezes 182 bank accounts, seizes ₹1 crore in chit fund scam probe

The Enforcement Directorate (ED) has frozen 182 bank accounts and seized more than Rs 1 crore in cash and six high-end cars during a raid in connection with Rs 2,000 crore multi-state chit fund scam, officials said on Tuesday. In a post on X, the ED said its Bhubaneswar Zonal Office has conducted search operations under the Prevention of Money Laundering Act, 2002 (PMLA) on August 5 at five premises linked with Wellfare Buildings and Estates Pvt Ltd (WBEPL) and its directors at Visakhapatnam and Hyderabad in connection with the investigation in the chit fund scam. The raids were conducted on the premises of ex-Andhra Pradesh MLA Malla Vilaya Prasad, Varaha Ramakrishna Satya Sinivasa Rao Alla and others, it said. During the raid, cash in Indian currency amounting to Rs 1.01 crore along with various movable and immovable properties, incriminating materials/documents (property documents, various digital devices) related to WBEPL, its directors and related entities were recovered and ..

ED initiates investigation into Jharkhand PSC exams 'irregularities' case

The Enforcement Directorate has launched an investigation into alleged irregularities in the conduct of multiple recruitment examinations in Jharkhand particularly the JSSC-CGL examination, officials said on Monday. They said the central agency has taken cognisance of a state police CID FIR and some other complaints to initiate a probe under the Prevention of Money Laundering Act (PMLA). Students have been agitating in the state for 16 days demanding a CBI probe into alleged irregularities in recruitment examinations, particularly the JSSC-CGL (Jharkhand General Graduate Level Combined Competitive Examination). The students have refused to call off their stir and are set to march towards the state Assembly on Monday even though the government said it has accepted "98 per cent of the demands". The Jharkhand Public Service Commission (JPSC), which is at the centre of the turmoil, also saw a major shake-up on Sunday. All three JPSC members -- Ajeeta Bhattacharya, the wife of prominen

Mahadev app probe: Betting syndicates generated ₹43,000 cr in seven years

ED has estimated the proceeds of crime generated by the Mahadev Online Book network and allied betting platforms, highlighting the scale of India's illegal online betting ecosystem

CMRL ex-MD cited Veena's ties to then Kerala CM for payments: ED report

Enforcement Directorate told the Adjudicating Authority that CMRL's former MD admitted payments to Veena Vijayan were made because of her personal relationship with then Kerala CM Pinarayi Vijayan

35 years on, SC quashes FERA case against Standard Chartered Bank

The apex court held that the Enforcement Directorate failed to comply with the mandatory requirement of issuing an opportunity notice before initiating prosecution under FERA

SC cancels anticipatory bail of HGPI chairman in scholarship scam case

The Supreme Court said the High Court failed to adequately consider the gravity of the allegations and the ED's need for custodial interrogation in the money laundering case

ED attaches assets worth ₹1,000 crore in Reliance Anil Ambani Group probe

The Enforcement Directorate (ED) on Saturday said it has issued a fresh order to attach assets worth Rs 1,021 crore as part of a money laundering investigation against the Reliance Anil Ambani Group. The provisional order, issued under the Prevention of Money Laundering Act (PMLA), attaches equity shares of Reliance Power held by Reliance Infrastructure and certain loan amount receivable from Sasan Power and Reliance Power, the agency said in a statement. The investigation stems from a CBI FIR against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). According to the ED, the probe found that public funds worth Rs 15,548 crore raised by RHFL and RCFL were "systematically diverted" through a web of "shell" (dummy) and group companies controlled and managed by the Reliance Anil Ambani Group. The ED is investigating multiple cases against the Group in connection with four FIRs filed under the anti-money laundering law, and three under provisions of th

ED freezes TMC bank deposits worth ₹440 crore in money laundering probe

ED freezes TMC bank deposits worth Rs 440 crore under the PMLA after searches in an alleged funds misappropriation case involving Carewell Aviation

ED searches in Trinamool Congress' bank accounts 'suspect' funds case

The Enforcement Directorate on Tuesday conducted searches at multiple locations in Kolkata as part of an investigation linked to routing of alleged suspect funds in the bank accounts of the Trinamool Congress, officials said. They said about five premises are being covered in the capital city of West Bengal. Preliminary probe suggests that funds worth more than Rs 150 crore have been routed through aviation and travel companies, they said. Premises of Carewell Aviation and its directors and a purported electoral trust has been covered in the searches, the ED officials said.

Rajesh Exports failed to produce foreign transaction records: ED

The Enforcement Directorate on Wednesday alleged that gold refining and jewellery manufacturing company Rajesh Exports' key business indicators showed "significant" departures from normal commercial practices, in addition to the non-availability of records related to foreign transactions. The federal agency issued a statement after conducting searches against the Bengaluru-based company and persons linked to it on June 23 for suspected contravention of the Foreign Exchange Management Act (FEMA). The ED identified at least five issues against Rajesh Exports Ltd (REL) and recovered various "incriminating" documents and digital devices during the searches. The company has not yet responded to a PTI query regarding the ED action. The stock exchanges have also sought clarification from the company. Founder and Chairman of the company, Rajesh Mehta, denied any fund diversion or wrongdoing during a recent interview with PTI. He had said that the company will fully cooperate with the fresh

BSE seeks clarification from Rajesh Exports on ED searches

The Bombay Stock Exchange (BSE) on Wednesday sought a clarification from gold jewellery firm Rajesh Exports Ltd over reports of searches conducted by the Enforcement Directorate (ED) at multiple locations linked to the Bengaluru-based company. The exchange's query came a day after the central agency searched nine premises connected to the firm under the provisions of the Foreign Exchange Management Act (FEMA). "The reply is awaited," Rajesh Exports said in a regulatory filing. The development marks a fresh escalation in the legal troubles surrounding the company, which is already facing allegations of a massive financial fraud levelled by the Securities and Exchange Board of India (Sebi). Rajesh Mehta, the company's Founder and Chairman, recently denied any fund diversion or wrongdoing in an interview with PTI. He said the firm would fully cooperate with the fresh forensic audit ordered by Sebi and would not challenge the market regulator's interim order against it.

ED searches Rajesh Exports amid Sebi probe into alleged irregularities

The Enforcement Directorate on Tuesday conducted searches against Rajesh Exports which is facing scrutiny from market regulator Sebi over alleged financial irregularities, official sources said. The action is understood to have been taken under the Foreign Exchange Management Act (FEMA) at the Bengaluru-headquartered company. Premises in Bengaluru and Mumbai linked to the company are being covered, they said. Rajesh Exports Ltd allegedly inflated its consolidated revenues by more than Rs 15 lakh crore over five years by attributing massive revenues to overseas subsidiaries, particularly Switzerland-based Valcambi SA, despite the subsidiary's audited standalone financial statements showing only a fraction of those amounts, according to an interim order by Sebi. The regulator has restrained the company's Chairman and Managing Director, Rajesh Mehta, from buying, selling or dealing in securities of Rajesh Exports, either directly or indirectly, until further orders. Rajesh Exports ha

K'taka HC declares arrest of Gameskraft founders Illegal, orders release

The Karnataka High Court ruled that the ED's arrest of three Gameskraft founders was illegal and ordered their immediate release

Former Reliance Group MD Sateesh Seth remanded to ED custody for 6 days

The court said that Custodial interrogation is required to identify the beneficiaries of proceeds of crime and to unearth the entire trail of money

Ex-RCom official Gautam Doshi sent to ED custody in ₹40,000 cr PMLA case

A Delhi court on Saturday sent former Reliance Communications (RCom) senior executive Gautam Bhailal Doshi to five days of Enforcement Directorate custody in a money laundering case linked to alleged diversion of loan funds worth over Rs 40,000 crore. Special Judge Gaurav Rao was hearing the agency's plea seeking Doshi's custody for 14 days. Doshi was produced at the judge's residence at around 8:15 am after he was arrested and taken to Delhi from Bombay on transit remand. In its order, the court said, "Considering the submissions of ED, the nature of the allegations and to unearth the complete conspiracy as well as establish the complete fund trail, their recovery, role of other individuals involved, I deem it fit to grant 5 days' custody of the accused to the ED." The ED had sought 14 days' custodial interrogation of Doshi under provisions of the Prevention of Money Laundering Act (PMLA), contending that his custody was required to unearth the "complete conspiracy" behind the ...