Page 10 - Enforcement Directorate

ED flags ₹131 crore sand mining scam to Bihar govt, seeks fresh FIR

The Enforcement Directorate has written to the Bihar government flagging an alleged over Rs 131 crore worth sand mining scam in Banka district of the state that has potential links to certain politicians and their associates, official sources said. The federal probe agency's communication was sent a few weeks back and it came in the backdrop of a 2023 'Lok Adalat' (alternate dispute redressal platform) proceeding during which the alleged criminal offence was "compounded" and the accused were let off with a monetary penalty, the sources told PTI. The case began with the Banka police filing as many as seven criminal FIRs between 2017 and 2018 against a company named Mahadev Enclave and its promoters to probe the alleged illegal sand mining in the district. The police had pressed multiple IPC sections related to cheating, forgery and theft apart from sections of the Mines and Minerals Development and Regulation Act, Bihar Minerals (Concession, Prevention of Illegal Mining, Transportati

Vedanta refunded ₹1,030 cr brand fee to unit after ED scrutiny: Viceroy

Viceroy Research alleges Vedanta Resources refunded ₹1,030 crore to Vedanta Ltd after ED scrutiny, raising questions over intercompany brand fee payments and governance

Actor Prakash Raj appears before ED in online betting linked to PMLA case

Actor Prakash Raj on Wednesday appeared before the ED officials here for questioning in a money laundering case linked to illegal online betting and gambling by certain platforms. The actor, mainly popular in Telugu, Kannada and other South Indian films, appeared before the officials of the probe agency at its zonal office here. Besides Raj, the ED had also summoned actors Rana Daggubati, Vijay Deverakonda and Lakshmi Manchu for questioning in the case. The agency asked Daggubati (40) to appear before the zonal office here on July 23, Raj (60) on July 30, Deverakonda (36) on August 6 and Lakshmi (47) on August 13. The actors had "endorsed" online betting apps allegedly involved in generating "illicit" funds, official sources had said. However, the ED gave a fresh date of August 11 to actor Daggubati after he failed to appear on July 23, seeking deferment of the summons. During their appearance, the agency is expected to record the statements of the actors under the provisions of

ED raids 18 places in Chhattisgarh in ₹500 crore medical supply scam probe

The ED is investigating suspected violations under the Prevention of Money Laundering Act

Google officials depose before ED in online betting linked PMLA case

Representatives of Google on Monday deposed before the Enforcement Directorate (ED) as part of a money laundering probe linked to the promotion of "illegal" online betting and gambling platforms, official sources said. Executives from Meta did not depose, they said. The ED had called the officials of the two tech giants, first on July 21 and later extended their deposition to July 28 as they sought more time to appear. The agency may also record the statement of a designated "compliance officer" of Google under the Prevention of Money Laundering Act (PMLA) apart from obtaining some documents from the company on Monday, the sources said. A Google spokesperson had last week told PTI in a statement that the company was "committed to keeping our platforms safe and secure, prohibiting the promotion of illegal gambling ads." "We are extending our full support and cooperation to investigating agencies to hold bad actors responsible and keep users safe," the spokesperson had said. There

SC stays PMLA trial as chargesheet in predicate case pending for 7 yrs

The Supreme Court stayed a money laundering trial against four women as no chargesheet has been filed in the predicate offence registered by CBI on Indian Bank's complaint for over seven years

ED actions concluded at all locations, say Reliance Infra, Reliance Power

Reliance Infrastructure and Reliance Power clarify that Enforcement Directorate's actions have concluded at all locations, with no impact on business operations, financial performance, or stakeholders

ED raids on Anil Ambani Group firms enter day 3 in loan fraud probe

Enforcement Directorate searches against the companies of Reliance Group chairman Anil Ambani in Mumbai continued for the third day on Saturday with the agency recovering a number of documents and computer peripherals from multiple locations, official sources said. The raids were launched on July 24 by the federal probe agency as part of an alleged Rs 3,000 crore worth bank loan fraud-linked money laundering case apart from multiple other allegations of financial irregularities with crores of rupees by certain companies. The searches, being conducted under the Prevention of Money Laundering Act (PMLA), are continuing at some locations out of the more than 35 premises that were covered in Mumbai since Thursday, the sources said. These premises belong to 50 companies and 25 people including a number of executives of the Anil Ambani Group companies. ED sources had said the investigation primarily pertains to allegations of illegal loan diversion of around Rs 3,000 crore, given by the

ED attaches ₹106.36 cr assets of ex-UCO Bank CMD in bank fraud case

Subodh Kumar Goel faces charges of sanctioning loans that later became NPAs, with investigations linking his actions to a large-scale money laundering scheme

ED raids 35 premises, searches 50 companies linked to Anil Ambani

Probe relates to alleged illegal diversion of loans worth Rs 3,000 crore from Yes Bank

ED raids call centres in Chandigarh Tricity running tech support scam

The Enforcement Directorate raids illegal call centres in Chandigarh Tricity involved in fraudulent tech support services targeting foreign nationals, with multiple entities uncovered

ED raids Chandigarh call centres duping foreigners with tech support scam

The Enforcement Directorate raided some call centres located in and around Chandigarh which were allegedly cheating foreigners in the guise of providing technical support services and were laundering funds worth crores of rupees, official sources said on Thursday. The searches were launched on the intervening night of Wednesday and Thursday in Chandigarh and adjoining cities of Mohali in Punjab and Panchkula in Haryana under the provisions of the Prevention of Money Laundering Act (PMLA), they said. These call centres were allegedly cheating foreigners in the guise of providing non-existent tech support services. It was found that the companies operating these call centres had counterpart companies abroad to receive "fraudulent" funds through various payment gateways, which were then remitted to India through banking channels as well as hawala, the sources said. According to the websites of these companies, they provide software support services like web designing and fixed wireless

ADAG stocks, Reliance Infra, Reliance Power hit lower circuits; here's why

The Enforcement Directorate (ED) on Thursday raided several locations connected to Anil Ambani as part of its ongoing investigation into the Yes Bank loan fraud case.

ED raids premises linked to Anil Ambani in Yes Bank loan fraud probe

The ED is currently examining over 50 companies and 25 individuals in connection to the alleged Yes Bank loan fraud case

ED conducts searches at 6 locations in Hyderabad in bank-fraud case

The Enforcement Directorate (ED) has conducted searches at six locations in Hyderabad in connection with a bank-fraud case against the promoters and directors of a company and its associate entities. The ED initiated its investigation on the basis of an FIR registered by the Anti-Corruption Bureau of the CBI in Hyderabad against SEW LSY Highways Limited and others under various sections of the Indian Penal Code and the Prevention of Corruption Act for allegedly siphoning off and diverting loan funds, cheating and criminal misconduct, resulting in the loss of public money, the agency said in a statement. The federal agency's Hyderabad zonal office conducted search operations on Tuesday at six locations in Hyderabad under the provisions of the Prevention of Money Laundering Act (PMLA) in connection with a bank-fraud case against SEW Infrastructure Limited (SIL), Prasad and Company (Project Works) Private Limited (PSPWPL), group companies and their promoters and directors, the statement

ED files plaint against fintech firm SIMPL for FDI policy violation

The ED accused Buy Now Pay Later app SIMPL of breaching FDI norms by issuing convertible notes and receiving foreign investment under automatic route without approval

ED files Fema complaint against Myntra over ₹1,654 crore FDI violation

ED's investigation allegedly found that Myntra received FDI equivalent of Rs 1654.35 crore and that it sold the majority of its goods to Vector E-Commerce

Delhi HC grants bail to NewsClick founder in ED, EOW foreign funding case

The Delhi HC granted anticipatory bail to NewsClick founder Prabir Purkayastha and director Pranjal Pandey in ED and EOW cases over alleged FDI rule violations and foreign funding

HC seeks ED reply on Aslam Wani's plea to quash money laundering case

The Delhi High Court on Wednesday sought Enforcement Directorate's (ED) response on a plea of Mohammad Aslam Wani, an alleged hawala dealer, seeking quashing of a money laundering case against him. Justice Sanjeev Narula issued notice to the ED for its response and posted the hearing on September 26. Wani sought quashing of the PMLA case arguing a 2010 trial court judgement clearing him of terror funding charges in a 2005 case, based on which the money laundering case was lodged in 2007. He said the verdict was upheld by the Delhi High Court in October 2017. Advocate M S Khan said his client Wani was cleared of all offences except under the Arms Act for possessing arms. "Consequently, the allegations by the prosecution regarding the generation of proceeds of crime from criminal activities related to the scheduled offence do not hold water. This perfectly aligns with the legal principle that if the underlying scheduled offence does not stand, the related proceedings under the ...

ED files Fema case against Myntra over ₹1,654-crore FDI policy breach

The ED files Fema case against Myntra for ₹1,654 crore FDI violation, alleges it routed retail sales via group firm Vector while posing as wholesale; complaint filed under Section 16(3)