Page 78 - Enforcement Directorate

SC to hear plea challenging remission of convicts in Bilkis case on May 9

From deferring to hearing a plea in connection with the remission of 11 convicts in the Bilkis Bano gangrape case to The Kerala Story controversy, here's a look at important cases heard in SC today

ED raid likely to hit edtech giant Byju's $700-million fundraising plan

The Bengaluru-based firm, which achieved a valuation of $22 billion in a funding round in March last year, is in the process of raising $700 million from investors, according to the sources

Delhi excise case: Raghav Chadha, Sanjay Singh named in ED charge sheet

According to the charge sheet, Chadha was part of a meeting which was held at Manish Sisodia's residence in connection with the liquor policy case

Over Rs 192 cr crime proceeds generated in Delhi excise policy 'scam': ED

Referring to accused Arun Pillai, the ED alleged that he actively participated in the generation of the PoC

EdTech startup Byju's seeks to reassure workers after office raid

More than 70 investors have invested in Byju's and they have conducted thorough due diligence, he said. "We are confident that the authorities will also come to the same conclusion," he added

ED searches: Byju's CEO says brought more FDI to India than any other firm

After financial crime-fighting agency ED searched Byju's premises, the education platform's CEO Byju Raveendran wrote to employees saying the company brought more FDI to India than any other startup and that the firm fully complies with all applicable foreign exchange laws. India's most valuable startup, Byju's was once valued at USD 22 billion and has attracted global investors such as General Atlantic, BlackRock and Sequoia Capital. "As we are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all FEMA (Foreign Exchange Management Act) compliance, we are confident that the authorities will also come to the same conclusion," Raveendran said in the memo sent late on Saturday, which was seen by PTI. ED had on Saturday searched three premises in Bengaluru linked to the company over alleged foreign exchange law violations. Searches at 'Think & Learn Private Limited' (Byju's online learning platform) yielded "various incriminating ...

ED raids BYJU's under FEMA, yet to submit financial results since FY21

The latest funding round news appeared as the company is aiming to repay a huge $1.2 billion term loan B it had secured in November 2021

ED searches Byju Ravindran's offices, residential premises in Bengaluru

The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU's CEO Raveendran Bjyu and seized "incriminating" documents and digital data as part of a foreign exchange violation probe. A total of three premises, two business and one residential, were raided recently under the provisions of the Foreign Exchange Management Act (FEMA), it said in a statement. The agency said it has seized various incriminating documents and digital data. It said the action was taken on the basis of "various complaints" received by private people and alleged that Raveendran Bjyu was issued "several" summons but he remained "evasive and never appeared" before the ED. The searches found that his company, Think & Learn Pvt. Ltd., received foreign direct investment (FDI) to the tune of about Rs 28,000 crore during 2011-2023. "The company also remitted about Rs 9,754 crore to various foreign jurisdictions during the same period in ..

ED seizes Rs 3.44-cr in money laundering case against online betting

The Enforcement Directorate Friday said it has frozen 93 bank accounts and seized Rs 3.44 crore as part of a money laundering investigation linked to an illegal online betting case in Gujarat. The action was taken under the criminal sections of the Prevention of Money Laundering Act (PMLA) after the federal agency on Thursday searched five accounts held at an IDFC First Bank branch in Surat. The case pertains to alleged betting activities carried out through "fake and dummy" bank accounts by Harish alias Kamlesh Jariwala and others. The bets were being placed on mobile apps called CBTF247.com and T20 EXCHANGE.com, the ED said in a statement. Following the search in the bank, Rs 3.44 crore deposited in five accounts held by Mitalia Enterprise, R M Enterprise, D M Enterprises, Vishwakarma Traders and XBT Labs Pvt. Ltd. with IDFC First Bank has been frozen under the provisions of the PMLA, it said. Further, 93 bank accounts, including the five bank accounts, "related and involved in .

ED attaches assets worth Rs 54 cr in 2014 Rose Valley money laundering case

The total value of assets attached in the 2014 money laundering case linked with the Rose Valley Group has risen to more than Rs 1,171 crore with the Enforcement Directorate Friday saying it has seized properties worth Rs 54 crore in the case. The attached properties comprise insurance policies in the name of Rose Valley Group chairman Gautam Kundu and his wife, buildings and plots of land in West Bengal, Maharashtra, Madhya Pradesh and Bihar, which were found to have been acquired by the companies of the group from the funds collected from the gullible investors, the probe agency said. Gautam Kundu, who was arrested by the ED in March 2015, continues to be in judicial custody. "The Rose Valley Group collected funds from the common gullible public by floating fake and fictitious schemes and defaulted on the re-payments," the agency said. The total value of assets attached in this case to date is Rs 1,171.71 crore, including fresh properties worth Rs 54 crore seized provisionally un

Excise 'scam': Delhi court denies bail to Sisodia in money laundering case

A Delhi court on Friday dismissed the bail application of AAP leader Manish Sisodia in a money laundering case related to the alleged excise policy scam. Special Judge M K Nagpal denied the relief to Sisodia, saying the stage was not fit to grant him bail. The judge had reserved the order after hearing arguments on Sisodia's plea seeking relief claiming that his custody was no longer required for investigation. The Enforcement Directorate (ED) had opposed the application, asserting the investigation was at a "crucial" stage and claiming the senior AAP leader had planted fabricated e-mails to show there was public approval for the policy. The federal agency also said it had found fresh evidence of his complicity in the alleged crime. The court had on March 31 dismissed Sisodia's bail application in a corruption case, being probed by the Central Bureau of Investigation (CBI), saying he was "prima facie the architect" in the criminal conspiracy behind alleged payment of advance kickb

Delhi excise scam: ED files supplementary charge sheet before Delhi court

The Enforcement Directorate on Thursday filed a supplementary charge sheet against businessmen Arun Ramchandra Pillai and Amandeep Singh Dhall in a money laundering case related to the alleged excise policy scam. The supplementary charge sheet, third in the case, is likely to come up for consideration before Special Judge M K Nagpal on Friday. The ED did not name former Delhi deputy chief minister Manish Sisodia, who is currently in judicial custody in connection with the case, in the latest charge sheet. The agency said that the investigation against Sisodia is underway and a final report will be filed on him later. According to the latest charge sheet, ED has charged that Hyderabad-based businessman Pillai was a close associate of Bharat Rashtra Samithi MLC K Kavitha and he is required to be confronted with other accused in the case. Dhall was the executive director of Brindco Sales Private Limited, which was a major importer and distributor of a variety of liquor brands and rel

Excise scam: Court reserves order on cognisance point on ED's charge sheet

A Delhi court on Monday reserved its order on whether to take cognisance of the Enforcement Directorate's supplementary charge sheet filed in a money laundering case related to the alleged Delhi excise policy scam. Special Judge MK Nagpal fixed May 1 for pronouncing the order on ED's second supplementary prosecution complaint (ED's equivalent of a charge sheet) in the case naming three individuals -- Raghav Magunta, Rajesh Joshi and Gautam Malhotra -- and five related companies. The judge reserved the order after hearing arguments by ED's Special Public Prosecutor N K Matta, who said there was enough evidence to prosecute the accused named in the documents for the offence of money laundering. The ED also said further investigation was underway against the accused named in the case as well as other individuals and companies. The court has reserved order on the bail application Joshi and Malhotra for April 28. The ED's money laundering case stems from a CBI FIR.

Bengal municipalities recruitment scam estimated at Rs 200 crore: ED

The ED has maintained that during the course of raid and search operations at the residence of private real estate promoter Ayan Shil in connection with the multi- crore teachers' recruitment scam

ED seizes crypto currencies, assets of Rs 34.75 cr in illegal forex trading

The ED investigation has revealed that the online trading app and website are operating in India in association with India based entity OctaFx India Pvt. Ltd

SC adjourns hearing plea against decision to extend ED director's tenure

The Supreme Court adjourned the hearing on the petitions challenging the Centre decision dated November 17, 2022, whereby the govt has extended the 3rd tenure of director of Enforcement Directorate

SC adjourns hearing on pleas challenging tenure extension of ED director

The Supreme Court on Thursday adjourned till May 3 the hearing on pleas challenging the amended law allowing extension of up to five years for the director of the Enforcement Directorate (ED). A three-judge bench of Justices B R Gavai, Vikram Nath and Sanjay Karol deferred the matter after Solicitor General Tushar Mehta sought adjournment on grounds that he was busy in the constitution bench hearing on the issue of legalisation of same-sex marriage. "Mr Solicitor, you make some alternative arrangements. We can't keep the matter adjourning like this. Make some arrangements. We don't want any impression to be carried that the government is unnecessarily delaying," the bench said. Mehta submitted that nobody anticipated that constitution bench matters would commence when this date was fixed. On Solicitor General's request, the bench posted the matter for hearing on May 3. The top court had earlier disagreed with the Centre's submission that petitions challenging the amended law allow

ED attaches Karti Chidambaram's properties worth Rs 11.04 cr in INX case

The Enforcement Directorate (ED) on Tuesday said it has attached properties to the tune of Rs 11.04 crore belonging to Congress MP Karti Chidambaram in the INX Media money laundering case, an official statement said here. Out of four attached properties, one is an immovable asset located in Coorg district of Karnataka, the federal agency said in a statement. The ED issued a provisional order, under the Prevention of Money Laundering Act (PMLA), for attaching the assets worth Rs 11.04 crore. Karti Chidambaram, 51, is the son of former Union minister and senior Congress leader P Chidambaram and is a sitting Congress MP from Sivaganga Lok Sabha seat in Tamil Nadu. He was arrested in the INX case by the ED as well as the Central Bureau of Investigation (CBI). The ED had filed a criminal case under the PMLA in 2017 to probe alleged irregularities in the grant of FIPB approval to INX Media group. INX Media got its FIPB (foreign investment promotion board) approvals in 2007-08 when P ..

ED arrests ex-sepoy for conducting raids posing as investigating officer

The Enforcement Directorate (ED) has arrested its former sepoy for conducting a fake raid at a shop in Kolkata impersonating as the investigating officer and issuing "forged" summons to an accused to extort money, the agency said Tuesday. Sukumar Kamaliya, holding the rank of a head constable in the paramilitary force SSB, worked with the ED at its Kolkata office on deputation between 2019-2020, the agency said in a statement. He was taken into custody on April 16 and later produced before a special Prevention of Money Laundering Act (PMLA) court in Kolkata. The court sent him to ED custody till April 29, the agency said. He was found to be involved in conducting unauthorised search operation (by way of impersonation) in Kolkata and also issuing forged/fraudulent summons to one of the persons under investigation by impersonating the investigating officer," the ED alleged. The sepoy, in one case, obtained information about the investigation being conducted against a person in an ...

Excise Case: Delhi HC seeks ED's response on Amandeep Singh Dhall bail plea

Amandeep Singh Dhall is presently confined in Tihar Jail in Judicial Custody in connection with a money maundering case, which is tied to excise case