Page 17 - Money Laundering Case

SC criticises seeking bail under guise of challenging validity of PMLA

The Supreme Court on Tuesday deprecated the trend of the accused in money laundering cases using Article 32 petitions to challenge a summons or seek bail under the guise of calling into question the provisions of the Prevention of Money Laundering Act (PMLA). A vacation bench of Justices Bela M Trivedi and Prashant Kumar Mishra, said filing such petitions challenging an Act, and in the process seeking consequential reliefs, amounts to bypassing other available legal remedies. "The court is constrained to observe that despite the Vijay Madanlal judgment there is a trend prevailing in writ petitions filed before this Court under Article 32 challenging the constitutional validity of Sections 15 and 63 and other provisions of the PMLA, which has been decided finally, and then seek consequential relief. These reliefs are bypassing other forums which are open to the petitioners," the bench said. The apex court had in the Madanlal judgement upheld the Enforcement Directorate's powers relat

Chhattisgarh money laundering case: SC pulls ED, says don't create fear

From pulling up ED in Chhattisgarh money laundering case to questioning the source of power of Delhi-LG while nominating 10 aldermen, here are the important cases of the day

ED searches LYCA Productions in Chennai in money laundering probe: Report

Earlier ED said it had carried out search operations at 21 locations in Delhi and Gurugram in connection with Amira Pure Foods Private Limited, Karan A Chanana and others

IL&FS money laundering case: ED issues fresh summons to NCP's Jayant Patil

The Enforcement Directorate (ED) has issued fresh summons to Maharashtra NCP president and MLA Jayant Patil for questioning in a money laundering case linked to alleged financial irregularities in the now bankrupt financial services firm IL&FS, official sources said Monday The 61-year-old MLA from Islampur seat of Maharashtra was issued the first summons for appearance on May 12 but he had sought deferment for about 10 days citing some personal and official engagements. The politician has now been asked to appear on May 22, the sources said. Patil, a former minister of home and finance, is also the state president of the Nationalist Congress Party (NCP) and is a seven-term legislator. He had told reporters last week that he never had any association or financial dealing with IL&FS. Alleged payment of some "commission amount" by some accused companies to entities linked to Patil are under the scanner of the agency and it is understood he will be questioned about these ...

Three leading brokers on Sebi, RBI, Enforcement Directorate radar

Three top brokers of the country have come under the scanner of multiple regulatory and enforcement agencies, including for suspected money laundering and fraudulent trading activities amounting to several thousands of crores of rupees, senior officials said on Sunday. The officials also said that the three brokers, whom they refused to identify citing the ongoing nature of the investigations, have also been found to have been connected to PEPs (politically exposed persons) and the role of a key family member of a senior political leader in a key industrial state is also being investigated. The investigations have been underway for 4-5 years on multiple fronts against the three top brokers, who head organisations with businesses spread across multiple segments of the capital markets and the financial services sector including brokerage, investment advisory services, portfolio management, asset management fund and non-banking financial services. The agencies and regulators involved i

Court grants bail to Mirchi's aide in money laundering case, pulls up ED

A special PMLA court here on Friday granted bail to businessman Haroun Yusuf, arrested in 2019 in connection with a money laundering case also involving late gangster and drug smuggler Iqbal Mirchi, holding he had no knowledge regarding the latter's source of money. The Enforcement Directorate (ED), probing the case, has claimed Yusuf had assisted Mirchi in buying properties in India using money earned through illegal activities. However, special PMLA (Prevention of Money Laundering Act) court judge MG Deshpande, while granting the accused bail, held that except bare allegations, there was nothing to show Yusuf had any knowledge regarding Mirchi's source of money. The judge also pulled up the central agency for delaying trial in the case. Based on multiple FIRs registered under provisions of the IPC and the NDPS Act (Narcotic Drugs and Psychotropic Substances Act) against Mirchi, the ED had registered its case against him, his family members and others. Mirchi died at the age of

Delhi liquor scam: HC calls for ED's stand on bail plea of YSRC MP's son

The Delhi High Court on Thursday sought to know the Enforcement Directorate's (ED) stand on a plea moved by Raghav Magunta, the son of YSR Congress Party MP Magunta Srinivasulu Reddy, seeking interim bail in a money-laundering case related to an alleged liquor scam in the national capital. Justice Dinesh Kumar Sharma asked the ED's counsel to take instructions in the matter and listed it for further hearing on May 15. Magunta has sought interim bail on the ground of his wife's medical condition. He has challenged a trial court's May 8 order that dismissed his interim bail plea. The trial court had said it could not be ignored that the accused was being prosecuted for the offence of money laundering, a serious economic offence. It had said it was not satisfied with the history of the ailment of Magunta's wife as nothing special or serious was stated about her condition in the documents placed before it. Other family members of the accused could also take care of his wife, the cour

SC dismisses CJI's plea seeking recusal from hearing same-sex marriage case

From hearing pleas over validation in the same-sex marriage case to dismissing DY Chandrachud's application seeking recusal from hearing same-sex marriage plea, here are some of the important cases

CAs, CSes concerned about new tweaks in anti-money laundering law

A major concern for the professionals is that if their clients are up to some mischief behind their backs, they would also be charged under the PMLA

DHFL money laundering case: HC denies bail to Yes Bank founder Rana Kapoor

The Bombay High Court on Thursday refused to grant bail to Yes Bank founder Rana Kapoor in connection with the DHFL money laundering case, noting that he was one of main accused in the case and he faced a "serious charge" of having laundered public money. A single bench of Justice P D Naik in its order said Kapoor misused his official position to gain undue financial benefit for himself, his family members and associates. "He (Kapoor) is involved in bribery, corruption and money laundering activities. The proceeds of crime (POC) involved in this case are to the extent of Rs 5,333 crore. It is alleged that applicant had siphoned off huge amounts of POC out of India through his family group owned/controlled companies," the HC said. It added that around Rs 378 crore have been invested overseas and investigation in this is still on. The bench said it cannot ignore Kapoor's role in the crime, the magnitude and seriousness of the crime. "The allegations against the applicant is that the

ED freezes Rs 143-crore assets of Manappuram Finance MD & CEO after raids

The Enforcement Directorate on Thursday said it has frozen assets worth Rs 143 crore of prominent Kerala-based NBFC Manappuram Finance Ltd's MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation. A total of six premises in Thrissur, where the company is headquartered, were covered during the searches that were launched on Wednesday. The case pertains to allegations of money laundering through "illegal" collection of deposits from the public, the agency said in a statement. During the course of searches, the ED said, it was found that the proceeds of crime have been "diverted and invested" by V P Nandakumar into immovable properties in his name, in the name of his spouse and children and into the shares of Manappuram Finance Ltd. "Hence, ED has freezed the assets of V P Nandakumar under the Prevention of Money Laundering Act (PMLA), totalling Rs 143 crore," it said. The frozen assets include deposits kept in eight bank accounts, investment i

Delhi liquor policy: ED files fresh charge sheet naming Manish Sisodia

The Enforcement Directorate on Thursday field a fresh charge sheet in the Delhi excise policy linked money laundering case naming AAP leader and former Delhi deputy chief minister Manish Sisodia, sources said. Sisodia was arrested by the ED in this case on March 9 from Tihar Jail and he is currently in judicial custody. The 51-year-old Aam Aadmi Party leader was first arrested by the CBI, which is also probing this case. This is the fifth charge sheet or prosecution complaint filed in the case by the ED before a designated special Prevention of Money Laundering Act (PMLA) court in Delhi. The agency has called Sisodia a "key conspirator" in this case. The federal agency has arrested 12 people including Sisodia in this case till now, in which it has said, the probe is continuing. 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 str

CBI opposes Manish Sisodia's interim bail plea over wife's illness

The CBI Thursday opposed a plea by former deputy chief minister Manish Sisodia seeking interim bail in the Delhi excise policy case to take care of his ailing wife, claiming he suppressed the fact that she has already been discharged from hospital. The Central Bureau of Investigation (CBI) said Sisodia's wife has already been discharged from the hospital but this material fact was not mentioned in his interim bail plea. According to the discharge memo, it said, her condition has improved. However, Sisodia's counsel claimed there was no suppression of facts and the mentioning document placed before the court for urgent listing disclosed his wife has been discharged from the hospital but she needs constant care. Justice Dinesh Kumar Sharma orally said, "Every husband has a duty to take care of his wife. Senior advocate Mohit Mathur, appearing for Sisodia, hastened to add this is the vow taken at the time of solemnisation of marriage. Additional Solicitor General S V Raju, representi

Govt asks SC to not rush in granting legal validation to same-sex marriage

The apex court on Wednesday heard a plea in the same-sex marriage case and 7 women wrestler moved SC seeking permission to file an affidavit

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 .

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

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 ...

ED questions Lalu Prasad's daughter Ragini in land-for-jobs case: Report

The Enforcement Directorate (ED) on Wednesday recorded the statement of RJD chief Lalu Prasad's daughter Ragini Yadav in a money laundering case linked to the alleged land-for-jobs in railways scam, sources said. Ragini Yadav deposed before the agency for questioning and her statement was recorded under the Prevention of Money Laundering Act (PMLA). The agency had raided the premises of Ragini Yadav, her sisters Chanda Yadav and Hema Yadav, and former RJD MLA Abu Dojana in Patna, Phulwari Sharif, Delhi-NCR, Ranchi and Mumbai in March this year. The ED had on Monday questioned and recorded the statement of Ragini Yadav's brother and Bihar Deputy Chief Minister Tejashwi Yadav in this case. A third child of Lalu Prasad, RJD MP Misa Bharti, was also questioned by the ED in this case on March 25, the same day Tejashwi Yadav had deposed before the CBI. Both the central agencies recently initiated action in the case, with the CBI questioning Lalu Prasad and his wife and former Bihar chie

ED conducts searches in money laundering case against Atiq Ahmad: Report

The Enforcement Directorate (ED) on Wednesday conducted fresh searches in Uttar Pradesh as part of an ongoing money laundering investigation against gangster-turned-politician Atiq Ahmad and those linked to him, sources said. The raids are being carried out at a dozen locations, including Prayagraj and its adjoining areas, they said. Ahmad is expected to reach Prayagraj from the Sabarmati Jail in Gujarat for his production in a local court in connection with the Umesh Pal murder case. He is being brought by a Uttar Pradesh Police team by road. Pal and his two police security guards were shot dead outside his home in Prayagraj's Dhoomanganj area on February 24 this year. Based on a complaint lodged by Pal's wife, a case was registered on February 25 against Ahmad, his brother Ashraf, wife Shaista Parveen, two sons, aides Guddu Muslim and Ghulam, and nine others. The Uttar Pradesh Police had on March 26 also taken Ahmad from the Sabarmati Jail to Prayagraj to produce him in a court.

Delhi HC dismisses Satyendar Jain's bail plea in money laundering case

The Delhi High Court on Thursday dismissed the bail plea of jailed former Delhi minister Satyendar Jain in a money laundering case being probed by the Enforcement Directorate (ED). The high court, while dismissing the Aam Aadmi Party (AAP) leader's bail plea, said he is an influential person and may tamper with evidence. Jain, who was arrested on May 30 last year by the agency, is accused of having laundered money through four companies allegedly linked to him. Justice Dinesh Kumar Sharma also rejected the bail pleas of co-accused in the case -- Vaibhav Jain and Ankush Jain. The detailed order is awaited. The high court said there was no illegally or infirmity in the trial court's order by which bail pleas were dismissed. The three accused had challenged the trial court's November 17 last year order. The high court had reserved the order on the bail pleas on March 21 after hearing arguments of the counsels for the ED and the AAP leader and two others.