Page 59 - Enforcement Directorate

Renowned magician PC Sorcar questioned by ED in chit fund case

Renowned magician PC Sorcar (Junior) was on Friday questioned by the Enforcement Directorate (ED) in connection with its ongoing investigation into alleged chit fund fraud in which investors were duped of more than Rs 790 crore, an officer said. Soon after Sorcar reached the ED office in Salt Lake on Friday afternoon the ED officers started questioning him in connection with the scam allegedly involving two companies identified by the central agencies as Pincon Group and Tower Infotech Ltd, he said. "We are questioning Mr Sorcar in connection with the chit fund case. We have to find out whether he was involved in any way or not," the ED officer told PTI. A few days ago the ED took into custody a senior official of the Tower Group and during grilling him Sorcar's name had surfaced, the official said. In 2021 the CBI had searched the magician's Ballygunge residence in connection with the same case.

Delhi excise 'scam' case: Court rejects AAP MP Sanjay Singh's bail plea

A Delhi court on Friday dismissed the bail application of AAP leader Sanjay Singh in a money laundering case related to the alleged Delhi excise policy scam. Special Judge M K Nagpal rejected the bail plea of Singh, a Rajya Sabha MP. A detailed order from the court is awaited. Earlier on Thursday, the court had adjourned its proceedings and said it will pronounce the verdict on Singh's bail application on December 22. During the arguments on Singh's bail application, his counsel had said there were contradictions in the statements of accused-turned-approver Dinesh Arora and other witnesses about paying bribes to Singh. The ED had opposed Singh's application, asserting the probe was still underway and, if released on bail, he could hamper the investigation, tamper with evidence, and influence the witnesses. The anti-money laundering agency had arrested Singh on October 4. The ED has alleged that Singh played a key role in the formulation and implementation of the now-scrapped 2021

Delhi excise policy case: ED to supply case-related docs to Sanjay Singh

AAP MP Sanjay Singh has been arrested and charge-sheeted in the Delhi Excise policy money laundering case

Yes Bank co-founder Rana Kapoor gets bail in ED case related to loan fraud

A special court here on Thursday granted bail to Yes Bank cofounder Rana Kapoor in a money-laundering case linked to alleged financial irregularities at the bank. He, however, would not walk out of jail at present as he has not been granted bail in a related case registered by the Central Bureau of Investigation. Kapoor, 65, former MD and CEO of the private bank, was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) in March 2020. Special judge for PMLA court M G Deshpande granted Kapoor bail on Thursday. The trial in the case cannot begin and conclude in view of the expectations and guidelines laid down by the Supreme Court (in a different case), therefore he was entitled to relief under section 436-A of the Code of Criminal Procedure and deserves to be released on bail, the judge said. As per the section 436A, an under-trial prisoner has the right to seek bail on serving more than half of the maximum possible sentence prescribed for

Kejriwal replies to ED, says summons politically motivated, illegal

Delhi Chief Minister Arvind Kejriwal has sent his reply to the ED summons, calling them illegal and politically motivated, AAP sources said on Thursday. Kejriwal was summoned by the Enforcement Directorate for questioning in the excise policy-linked money laundering case on Thursday. However, he left for an undisclosed location for a 10-day Vipassana meditation course on Wednesday. "Kejriwal called the fresh summons politically motivated and illegal. In his reply, he said that he has lived his life through transparency and honesty and has nothing to hide. He said he is ready to accept any legal summons," sources said, citing his reply. Kejriwal was scheduled to leave for the Vipassana course on Tuesday but could not do so as he was busy with the INDIA bloc meeting. He left at around 1.30 pm on Wednesday for the pre-scheduled meditation course, officials said. The Aam Aadmi Party on Tuesday questioned the timing of the summons, saying the party's lawyers are studying the notice and

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Vivo case: Delhi court takes cognisance of ED's chargesheet in PMLA probe

A Delhi court on Wednesday took cognisance of the charge sheet filed by the Enforcement Directorate against Chinese smartphone maker Vivo-India and others in a money laundering case. Four individuals -- the MD of Lava International mobile company, Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik - have been named as accused in the prosecution complaint (ED's equivalent of a chargesheet). Special Judge Kiran Gupta summoned the accused, who are in judicial custody, on February 19. The chargesheet was filed earlier this month under criminal sections of the Prevention of Money Laundering Act. The ED claimed the alleged activities of the four accused enabled Vivo-India to make wrongful gains that were detrimental to the economic sovereignty of the country. The anti-money laundering agency had raided Vivo-India and persons linked to it in July last year and claimed to have busted a major money laundering racket involving Chi

ED summons Tejashwi, Lalu Prasad for questioning in money laundering case

The Enforcement Directorate has summoned Bihar deputy chief minister Tejashwi Yadav and his father and RJD chief Lalu Prasad for questioning in the railways land-for-jobs money laundering case probe, official sources said on Wednesday. While Tejashwi has been asked to depose on December 22, Prasad has been asked to appear on December 27 to record their statements under the Prevention of Money Laundering Act (PMLA). The alleged scam pertains to the period when Prasad was the railway minister in the UPA-1 government. It is alleged that from 2004 to 2009, several people were appointed to Group "D" positions in various zones of the Indian Railways and in lieu, these people transferred their land to the family members of the then railway minister Prasad and a linked company A K Infosystems Private Limited.

Kejriwal leaves for 10-day Vipassana session; to skip ED questioning

Delhi Chief Minister Arvind Kejriwal, summoned by the ED for questioning on December 21, left for an undisclosed location for a 10-day Vipassana meditation course on Wednesday, officials said. The Enforcement Directorate on Monday issued fresh summons to the Delhi chief minister for questioning in the excise policy-linked money laundering case. Kejriwal was scheduled to leave for the Vipassana course on Tuesday but could not do so as he was busy with the INDIA bloc meeting, officials said. He left at around 1.30 pm on Wednesday for the pre-scheduled meditation course, they added. The Aam Aadmi Party on Tuesday questioned the timing of the summons, saying the party's lawyers are studying the notice and "legally correct" steps will be taken. They said Kejriwal's Vipassana session was "pre-scheduled" and the information was in the public domain. "Everyone knows the chief minister is leaving for Vipassana on December 19. He regularly goes for this meditation course. It's a pre-schedu

We'll not be scared by threats.: Atishi on ED's fresh summon to CM Kejriwal

Hitting out at the BJP, Atishi said that the party fears Arvind Kejriwal's model of governance that's the reason why the leaders of the Aam Aadmi Party are being sent to jail

Excise policy case fake, bogus: AAP after ED summons Arvind Kejriwal

The Aam Aadmi Party Monday dubbed the excise policy case fake and bogus after Chief Minister Arvind Kejriwal was summoned by the Enforcement Directorate for questioning on December 21 in a related money laundering case. Talking to reporters, AAP Rajya Sabha MP Sandeep Pathak said their lawyers are studying the notice. "Anybody who questions Prime Minister Narendra Modi gets suspended or arrested. Modi fears and hates Arvind Kejriwal. Modiji is most scared by Kejriwal's politics and his Delhi model of governance. This is a bogus and fake case," he told reporters. Kejriwal is scheduled to go to an undisclosed place to attend a 10-day Vipassana meditation course from Tuesday. "Our lawyers are studying the notice and we will see what has to be done," he added.

Arvind Kejriwal issued fresh summons by ED in Delhi excise policy case

The Enforcement Directorate has issued a fresh summons to Delhi Chief Minister Arvind Kejriwal for questioning on December 21 in the excise policy-linked money laundering case, officials said Monday. He was first called by the federal agency to appear on November 2, but he did not depose alleging that the notice was "vague, motivated and unsustainable in law". The summons to Kejriwal, the national convenor of AAP, pertain to questioning in the alleged Delhi excise policy case and for recording his statement under the Prevention of Money Laundering Act (PMLA), the officials said. It is alleged that the Delhi government's excise policy for 2021-22 to grant licences to liquor traders allowed cartelisation and favoured certain dealers who had allegedly paid bribes for it, a charge repeatedly refuted by the Aam Aadmi Party (AAP). The policy was subsequently scrapped and the Delhi lieutenant governor recommended a CBI probe, following which the ED registered a case under the PMLA. Delhi

ED attaches immovable properties worth over Rs 200 cr across Tamil Nadu

As per officials, the crackdown was taken under the provisions of the Prevention of Money Laundering Act, (PMLA) 2002

ED attaches Madurai firm's assets worth Rs 207 cr in money laundering probe

The Enforcement Directorate on Sunday said it has attached immovable properties worth Rs 207 crore located in Tamil Nadu as part of a money laundering probe linked to an alleged fraud perpetrated by a Madurai-based group. The ED investigation stems from an FIR registered by Tamil Nadu Police's Economic Offences Wing (EOW). The police FIR was registered following complaints lodged by investors against Neomax Properties Pvt. Ltd. and its group companies that allegedly "cheated several investors into depositing lakhs of money in various projects (plot development) by promising high returns with 12-30 per cent interest", the ED said in a statement. The company and its promoters "failed" to fulfil their promise, it claimed. Neomax group of companies collected funds from the public running into hundreds of crores and cheated them by "diverting" these funds to shell entities, group companies and other entities (outside the group), the ED said. The group "manipulated" its books of account

Chinese visa case: Karti Chidambaram calls ED probe 'fishing' inquiry

Congress MP Karti Chidambaram has sought exemption from appearing before the ED on Saturday, on fresh summons issued to him in a money laundering case linked to issuance of visa to some Chinese nationals in 2011, stating that the probe was a "fishing and roving" inquiry and that he required time to collect documents. The federal agency had first asked the 52-year-old legislator from Sivaganga constituency in Tamil Nadu to depose before the investigating officer of the case on December 12 in Delhi. After the MP cited his engagement in the ongoing Parliament session, the Enforcement Directorate (ED) asked him to appear on December 16. The 2022 ED case pertains to allegations of Rs 50 lakh being paid as kickbacks to Karti and his close associate S Bhaskararaman by a top executive of Vedanta group company Talwandi Sabo Power Ltd. (TSPL), which was setting up a power plant in Punjab, according to the Central Bureau of Investigation (CBI) FIR. The money laundering case stems from the CBI

ED attaches land worth over Rs 193 cr in Srinagar in JKSCB loan fraud case

A land in Srinagar worth more than Rs 193 crore has been attached by the Enforcement Directorate under the anti-money laundering law as part of an investigation into a loan fraud involving the Jammu and Kashmir State Cooperative Bank (JKSCB). A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to freeze the asset, which measures 257.19 kanal and is located in the Shivpora area of Srinagar, the federal agency said in a statement. The value of the property is Rs 193.46 crore, it said. The agency, earlier this month, had arrested former JKSCB chairman Mohammad Shafi Dar and Mohammad Hilal A Mir, the chairman of the River Jhelum Cooperative House Building Society, a "fictitious firm", as part of the investigation. They are in judicial custody till December 20. The PMLA case pertains to an alleged fraud in sanctioning of a loan to the tune of Rs 250 crore (disbursement amount Rs 223 crore) in 2019 to the River Jehlum Co-operative House Building Societ

ED searches in Delhi-NCR, Punjab against Chandigarh-based Parabolic Drugs

The Enforcement Directorate on Friday conducted fresh searches at about a dozen locations in the Delhi-NCR and Punjab as part of a money laundering investigation against a Chandigarh-based pharmaceutical company and its promoters linked to an alleged bank fraud, official sources said. The first round of searches in this case against the company -- Parabolic Drugs-- were carried out in October. The central agency had earlier arrested Parabolic Drugs promoters Vineet Gupta (54) and Pranav Gupta (56), who are also the co-founders of the Sonepat-based Ashoka University, and CA Surjeet Kumar Bansal (74) under the provisions of the Prevention of Money Laundering Act (PMLA). The Guptas stepped down from their posts at Ashoka University in 2022 after the Central Bureau of Investigation (CBI) registered a case against them and the company in 2021 for their alleged involvement in a bank loan fraud of Rs 1,626 crore. The ED filed a money laundering case against them in January last year. The

Mahadev app case: Actor Sahil Khan, 3 others summoned for questioning today

In the Mahadev betting app case, there are allegations of fraud of 15,000 crore rupees along with match-fixing, illegal hawala, and cryptocurrency transactions

ED attaches assets worth Rs 6.79 cr in case involving cheating in 4 states

The assets were attached under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, which include bank balances worth Rs 0.75 crore and immovable assets worth Rs 6.04 crore

Mahadev betting app case: Everything known about the Rs 6k cr scam so far

Authorities in Dubai have detained one of the masterminds behind the scam, Ravi Uppal and will be deported to India soon