Page 2 - Enforcement Directorate

ED attaches nine UAE luxury properties in ₹1,266 cr SBI fraud case

The attached properties are in the form of apartments and commercial spaces, worth Rs 51.70 crore. These properties were attached on November 17

ED arrests Al Falah group chairman in Red Fort blast-linked probe

The Enforcement Directorate on Tuesday arrested Jawad Ahmed Siddiqui, chairman of the Al Falah group, after it conducted simultaneous searches in Delhi-NCR against the trustees and promoters of Faridabad-based Al Falah University, which has been at the centre of the probe into the Red Fort area car blast case, officials said. Siddiqui has been taken into custody under the criminal provisions of the Prevention of Money Laundering Act (PMLA) and is being produced before a competent court for remand, they said. The agency has also seized Rs 48 lakh in cash during the searches that began around 5:15 am, according to sources. Multiple teams of the federal probe agency raided at least 25 premises of the Al Falah Trust and the university establishment. Officials of the agency also raided an office in Delhi's Okhla area, with a security cordon being provided by the police and paramilitary forces. Fifteen persons were killed in the blast that took place on November 10 near the iconic monum

Court frames charges against Nawab Malik in PMLA case linked to Dawood

The Enforcement Directorate registered the case in 2022 and arrested Malik in February that year. He is currently out on medical bail granted by the Supreme Court

SC issues notices to Centre, CBI, ED, and Anil Ambani on PIL alleging fraud

The Supreme Court on Tuesday issued notices to the Centre, CBI, ED, Anil Ambani and others on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving Reliance Communications (RCOM), its group companies and their promoter. A bench comprising Chief Justice B R Gavai and Justice K Vinod Chandran took note of the submissions of lawyer Prashant Bhushan, appearing for PIL petitioner and former Union secretary E A S Sarma, and sought the replies within three weeks. The bench has now posted the PIL for further hearing after three weeks. Bhushan alleged that the probe agencies are not investigating the alleged complicity of banks and their officials in the huge banking fraud. He sought a direction to the CBI and the ED to file respective status reports with regard to the probe against banks and their officials in the case. Issue notice returnable in three weeks. Let them file their replies, the CJI said. The PIL alleged systematic diversion of publi

ED raids Al Falah University, linked persons in Delhi Red Fort blast case

The Enforcement Directorate on Tuesday launched searches against the Al Falah University of Faridabad and its promoters and linked persons as part of its investigation related to the Red Fort area terrorist blast case, sources said. Teams of the federal probe agency have been searching multiple locations in the Delhi-NCR since early morning, sources said. It is understood that the ED is taking action under the anti-money laundering law following cognisance of the first information reports filed by the NIA and the Delhi Police in the case. The agency is investigating finances and purported terror financing links in the matter. Sources said the searches began around 5 am, and the trustees of the University are also being raided. Till now, the NIA has arrested two persons, allegedly close aides of "suicide bomber" Dr Umar Nabi. The Al Falah varsity is located in the Dhouj area of Faridabad district in Haryana near Delhi, and it is a medical college-cum-hospital.

'No ex parte order': Court denies Anil Ambani's plea to halt media coverage

A Delhi court refused Anil Ambani's request to stop media reports on alleged ₹41,000-crore fraud, saying it will hear all media organisations first before deciding on any interim order

Anil Ambani skips ED summons in Fema case, says ready to depose virtually

Reliance Group Chairman Anil Ambani refused to appear before the Enforcement Directorate in a Foreign Exchange Management Act (FEMA) case for the second time on Monday. The businessman said he was ready to depose before the federal probe agency via "virtual appearance/recorded video", a statement he made when he skipped the summons the first time on November 14. The ED had rejected Ambani's offer and issued him a fresh summons for Monday. It was not clear if the agency would issue a third summons now. Proceedings under the FEMA are civil in nature, as against the criminal processes under the anti-money laundering law. In a statement, a spokesperson of the 66-year-old businessman said, "Mr Anil D. Ambani has offered to make himself available for the recording of his statement, at any date and time suitable to ED, via virtual appearance/recorded video." According to sources, the agency had asked Ambani to appear before it in person on Friday and record his statement under the FEMA.

ED freezes over 100 mule accounts, seizes ₹70 lakh in Delhi cocaine case

The Enforcement Directorate has frozen 110 "mule" bank accounts, seized Rs 70 lakh in cash and found usage of Dubai-based cryptocurrency wallets during searches in a money laundering case linked to alleged drug trafficking in Delhi, a statement said on Sunday. Mule bank accounts are used to transfer illicit funds and are opened by misusing genuine or using fake customer IDs. The raids were undertaken on November 14 after the federal probe agency took cognisance of a Narcotics Control Bureau (NCB) complaint of November 2024 related to the seizure of 82.53 kg of "high-grade" cocaine. The ED covered five premises in Delhi-NCR and Jaipur during the searches. The seized party drug was estimated to be worth Rs 900 crore by the NCB and five persons were arrested by the central anti-narcotics agency. "The searches indicated an online betting and gambling network being operated through mobile-based applications. "The operation resulted in the freezing of 110 mule bank accounts, including

Anil Ambani offers to appear via 'virtual means' before ED in Fema case

Reliance Group chairman Anil Ambani has offered to appear before the Enforcement Directorate through "virtual means" following summons issued to him under the FEMA for Friday. A statement issued by a spokesperson of the 66-year-old businessman said he has written to the federal probe agency assuring "fully cooperation" in the probe being conducted under the Foreign Exchange Management Act (FEMA). The agency, according to sources, had asked Ambani to appear in person on Friday and get recorded his statement under the FEMA. The investigation pertains to the Jaipur-Reengus Highway Project where the ED suspects that funds worth about Rs 100 crore were sent abroad via the hawala route. The ED has recorded the statement of various persons, including some alleged hawala dealers, following which they decided to summon Ambani, the sources said. Hawala denotes illegal movement of funds, largely in cash. The businessman has once been questioned by the ED in a money laundering case linked to

Why former Jaypee Infratech MD was arrested in money laundering case

Manoj Gaur, who was accused of cheating multiple home buyers, was arrested under the Prevention of Money Laundering Act

ED arrests Jaypee Infratech MD Manoj Gaur in money laundering case

The Enforcement Directorate has arrested Manoj Gaur, MD of realty company Jaypee Infratech Ltd, in a money laundering case probe linked to alleged fraud with home buyers, official sources said on Thursday. The businessman was taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), they said. The investigation against him pertains to a case of alleged cheating of home buyers, the officials said.

ED makes third arrest in Reliance Power fake bank guarantee PMLA probe

The Enforcement Directorate on Friday said it has made a fresh and the third arrest in connection with a money laundering probe against businessman Anil Ambani's group company Reliance Power linked to issuance of an alleged fake bank guarantee of Rs 68 crore. Amar Nath Dutta, a resident of Kolkata, was taken into custody on Thursday under the provisions of the Prevention of Money Laundering Act (PMLA). A special court sent him to ED custody till November 10, it said in a statement. The federal probe agency has arrested former Reliance Power CFO Ashok Kumar Pal and a private person Partha Sarathi Biswal, MD of an Odisha-based company named Biswal Tradelink, sometime back as part of this investigation. "He (Dutta) claims to provide consultancy services in Trade Financing. Dutta played an active role along with Ashok Pal and Partha Sarathi Biswal, for providing fake bank guarantees," the agency said. The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy

ED makes 3rd arrest in Reliance Power fake bank guarantee linked PMLA case

The Enforcement Directorate has made a fresh and the third arrest in connection with a money laundering probe against businessman Anil Ambani's group company Reliance Power linked to issuance of an alleged fake bank guarantee of Rs 68 crore, official sources said on Friday. A person identified as Amar Nath Dutta was taken into custody on Thursday under the provisions of the Prevention of Money Laundering Act (PMLA). A special court sent him to four days of the Enforcement Directorate (ED) custody, they said. The federal probe agency has arrested former Reliance Power CFO Ashok Kumar Pal and a private person Partha Sarathi Biswal, MD of an Odisha-based company named Biswal Tradelink, as part of this investigation. The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake". The company was formerly known a

ED attaches ₹11 cr assets of Suresh Raina, Shikhar Dhawan in betting case

The ED has alleged that both players "knowingly" entered endorsement agreements with foreign entities to promote an illegal betting platform, 1xBet, and its associated platforms

ED summons Anil Ambani for questioning on Nov 14 in money laundering case

The Enforcement Directorate has summoned Reliance Group chairman Anil Ambani again for questioning on November 14, days after attaching assets worth over ₹7,500 crore in a money laundering probe

FATF hails India's asset recovery model, cites ED as global benchmark

FATF highlights India's Enforcement Directorate for its effective coordination, citing ED's cases as examples of global best practice in tracing and seizing illicit assets

ED, IBBI set new rules to ensure cheated homebuyers, banks get assets back

Assets of bankrupt companies and their promoters attached by the ED, under the anti-money laundering law, will now be restored to the affected parties, such as banks or home buyers, following the finalisation of a new standard operating procedure, the federal probe agency said on Wednesday. The Insolvency and Bankruptcy Board of India (IBBI) issued a circular in this context on November 4, following "multiple rounds" of coordination meetings between its officials and the investigators of the Enforcement Directorate (ED). As a result of this coordinated approach, the agency said in a statement, a "standard undertaking" will be filed by Insolvency Professionals (IPs) before the special PMLA court to release the assets from ED's attachment and offer them for restitution or restoration to the creditors. Currently, in several insolvency cases, the assets of the corporate debtor were under PMLA attachment, which "restricted" their use in the resolution process. To address this issue, th

SC asks ED to trace, secure absconding Mahadev betting app accused

The Supreme Court has directed the Enforcement Directorate to trace and secure the absconding Mahadev betting app co-founder, who has fled from Dubai to an undisclosed location, saying the white-collar crime accused cannot be allowed to treat courts and probe agencies as "instruments to play around with". A bench of Justices MM Sundresh and Satish Chandra Sharma took serious note of the accused Ravi Uppal evading the law enforcement agencies and said, "This shocks our conscience and the court has to do something about it." Uppal, who is evading law enforcement agencies in India, has reportedly fled Dubai, where he was under surveillance, to an undisclosed location forcing the UAE authorities to initiate steps for closure of his extradition proceedings. "For kingpins like him, the courts and investigating agencies are mere instruments to play around with. We have to do something about it," the bench said, asking the ED to trace and secure him. "We will dismiss his petition. Find out

Reliance Group says no impact on business operations due to attachment

Anil Ambani's Reliance Group on Tuesday said there is no impact on business operations of the group's listed companies because of the ED's attachment of Rs 7,500 crore worth of properties, which is linked to a money-laundering probe. The majority of the assets attached by the Enforcement Directorate belong to Reliance Communications, which is under the control of the Resolution Professional (RP) and the committee of creditors (CoC), led by State Bank of India, the group's listed firms said in stock exchange filings. The federal probe agency issued four separate provisional orders under the Prevention of Money Laundering Act (PMLA) on October 31 for attaching 42 properties, including the 66-year-old Ambani's family home in Pali Hill, Mumbai, apart from other residential and commercial properties of his group companies. The attachment relates to cases involving Reliance Communications and its affiliates over the alleged diversion of loans taken from YES Bank between 2017 and ...

ED raids Mumbai sites linked to Varanium Cloud IPO fraud worth Rs 40 crore

The Enforcement Directorate raided multiple Mumbai locations linked to Varanium Cloud and its promoter Harshavardhan Sabale in a ₹40-crore money laundering case tied to its 2022 IPO.