Page 6 - Money Laundering

President Murmu approves ED's request to prosecute AAP's Satyendar Jain

Delhi Excise policy case: The approval comes after the Ministry of Home Affairs sought the President's sanction for initiating legal action against Jain last week

Former Mauritian PM Jugnauth arrested in money laundering investigation

Jugnauth denies the allegation, lawyer Raouf Gulbul said in an interview posted on defimedia.info's Facebook page

Wadhwan brothers secure bail in 2020 YES Bank money laundering case

The Bombay High Court granted bail to DHFL promoters Dheeraj and Kapil Wadhwan in connection with the 2020 Yes Bank money laundering case, citing their long incarceration and the unlikelihood of the trial starting soon. A single bench of Justice Milind Jadhav on Wednesday granted bail to the brothers on a bond of Rs 1 lakh each. The bench said the Dewan Housing Finance Limited (DHFL) promoters have been in custody for four years and nine months and there was no possibility of the trial commencing in the near future. Detaining an undertrial prisoner for such an extended period further violates his fundamental right to speedy trial flowing from Article 21 of the Constitution, HC said. In my opinion, further incarceration of the applicants (Wadhwans) is not required and they are entitled to bail without entering into the merits of the case at this stage, the court said. Considering the present status of the trial and the unlikelihood of it being concluded in the foreseeable future ..

ED freezes 30 bank accounts in money laundering case linking QFX Trade Ltd

ED initiated investigation on the basis of multiple FIRs registered by Himachal Police against QFX company

US Supreme Court allows small business registration rule to take effect

The Supreme Court has revived a requirement that owners of millions of small businesses register with an arm of the Treasury Department charged with fighting money laundering and other financial crimes. The justices granted an emergency plea made by the Justice Department in the waning days of the Biden administration to allow enforcement of the Corporate Transparency Act, enacted in 2021 to crack down on the illicit use of anonymous shell companies. Owners and part-owners of an estimated 32.6 million small businesses must register personal information with Treasury's Financial Crimes Enforcement Network, or FinCEN. The information includes photo IDs and home addresses. It's unclear whether the Trump administration will devote much effort to enforcing the registration requirement, which has been opposed by Republican-led states and lawmakers, as well as conservative and business interest groups. The registration requirement was blocked by a federal judge in Texas, who ruled that ..

Money laundering case: SC junks ED plea against bail to NCP leader Bhujbal

In a relief to senior NCP leader Chhagan Bhujbal, the Supreme Court on Tuesday dismissed the plea of the Enforcement Directorate challenging the bail granted to him in a money laundering case. A bench of Justices Abhay S Oka and Ujjal Bhuyan however rejected Bhujbal's plea challenging his arrest in the matter saying the petitioner was released on bail in 2018, and it was not necessary to go into the question of illegality of his arrest at the present stage. "Impugned orders granting bail have been passed way back in the year 2018. Therefore no case for interference is made out at this stage under Article 136 of the Constitution. The SLPs are dismissed," it held. The Bombay High Court on May 4, 2018, granted bail to Bhujbal in the money laundering case. The former Maharashtra deputy chief minister was arrested after an ED inquiry revealed he and his associates had allegedly misused their office and caused financial loss to the government. According to the ED, Bhujbal awarded contra

Delhi HC to hear ED plea against Arvind Kejriwal's bail on March 21

The Delhi High Court on Friday set March 21 to hear the enforcement directorate's plea against the bail granted to former chief minister Arvind Kejriwal in the excise policy-linked money laundering case. Justice Vikas Mahajan adjourned Friday's hearing on the request of the enforcement directorate's (ED) counsel. The senior counsel representing Kejriwal opposed the request for adjournment saying ED repeatedly took dates in the past several months. He urged the court to hear the matter and grant bail to Kejriwal saying other accused were granted bail in the money laundering case. "There is an impending election. Why should this sword be hanging over him? If bail is well given to all 15 accused, why should it be kept pending for him?" asked Kejriwal's counsel. The ED counsel said no prejudice was caused to Kejriwal on account of the adjournments as he was already on interim bail granted by the Supreme Court in the matter. "I will set it down for hearing.. No prejudice is caused to

Supreme Court denies bail to ex-PFI chairman Abubacker in UAPA case

The Supreme Court on Friday refused to grant bail on medical grounds to former chairman of the outlawed Popular Front of India (PFI) E Abubacker in a case registered against him under anti-terror law UAPA. Abubacker, who was arrested by the National Investigation Agency (NIA) during a massive crackdown on the organisation in 2022, had approached the high court after the trial court rejected his bail application. A bench of Justices MM Sundresh and Rajesh Bindal said it was not inclined to release Abubacker at this stage after looking at the medical report. According to the central anti-terror agency, the PFI, its office bearers and members hatched a criminal conspiracy to raise funds for committing acts of terror in various parts of the country and were organising camps to indoctrinate and train their cadre for this purpose. In his plea, Abubacker claimed he is in his 70s, has Parkinson's disease, and had also undergone surgery for treatment of cancer. He contended that on merits a

SC criticises ED over bail conditions for women in money laundering cases

The Supreme Court has strongly criticised the Enforcement Directorate for submitting that rigorous bail conditions in money laundering cases will apply to women despite a statutory exception explicitly provided under the law. A bench comprising Justices Abhay S Oka and Augustine George Masih, while hearing the bail plea of Shashi Bala, a government school teacher accused in a money laundering scam involving the Shine City Group of Companies, called the ED's submissions "contrary to statute" and emphasised that such arguments would not be tolerated. "We will not tolerate conduct... to make submissions contrary to statute," the bench said and granted bail to Bala in the case, saying she had been in custody since November 2023 and there was little likelihood of her trial concluding anytime soon. "If people who appear for the Union of India do not know basic provisions of law, why should they appear in the matter," the bench said on Wednesday. The ED argued that the stringent bail ...

Silver Notice 'more effective' for info on illicit wealth: CBI director

Terming the recently introduced Interpol 'Silver Notice' a "more effective" tool than the Mutual Legal Assistance Treaties (MLATs) for gathering information on illicit assets parked offshore, CBI Director Praveen Sood has said it was Prime Minister Narendra Modi's idea, which has now been realised. In an exclusive interaction with PTI, he said Prime Minister Modi had proposed in 2015 a system under the Interpol to trace money laundered offshore, and it has now taken shape as the Silver Notice. The Notice, aimed at locating illicit assets laundered across borders, is the newest addition to the Interpol's suite of eight colour-coded Notices and Diffusions, which enable countries to share alerts and requests for information worldwide. Conventionally, the information on illicit assets is gathered through MLATs which are treaties between two countries whereby they cooperate to provide and obtain formal assistance in the prevention, suppression, investigation, and prosecution of ...

Interpol introduces Silver Notice: A new alert to track laundered assets

India is a participant in the pilot run of the Silver Notice which is expected to run till November 2025

ED raids RJD MLA, others in Bihar cooperative bank 'fraud' PMLA case

The Enforcement Directorate Friday conducted searches in multiple states, including in Bihar on premises liked to an RJD MLA, as part of a money laundering investigation linked to an alleged funds embezzlement at a state cooperative bank, official sources said. About 18 premises in Bihar, West Bengal (Kolkata), Uttar Pradesh and Delhi are being searched, they said. These include premises linked to RJD MLA and former Bihar minister Alok Kumar Mehta (58) who is the promoter of the Bihar-based Vaishali Shahri Vikas (VSV) Cooperative Bank apart from some other linked entities, the sources said. The money laundering investigation stems from some state police FIRs filed against the bank and its office-bearers for alleged embezzlement of funds worth about Rs 85 crore, they said. The RBI had carried out a verification of the bank and identified the alleged diversion of the bank funds, the sources said. Mehta is an MLA from the Ujiarpur seat of Bihar and is a senior politician of the Lalu

Kejriwal's arrest, excise policy cases dominated Delhi courts in 2024

Arvind Kejriwal's arrest, excise policy hearings, hogged limelight in Delhi courts in 2024

ED raids Chhattisgarh Cong MLA Kawasi Lakhma, son in money laundering case

The Enforcement Directorate on Saturday conducted raids at the premises of Chhattisgarh Congress MLA and former excise minister Kawasi Lakhma, his son and some others as part of a money laundering investigation linked to an alleged liquor scam in the state, official sources said. They said a total of seven premises -- including Lakhma's residence in Raipur and his son Harish Lakhma's premises in Sukma district apart from that of some linked persons -- are being searched under the provisions of the Prevention of Money Laundering Act (PMLA). The Chhattisgarh Congress alleged the raids were part of a conspiracy by the BJP to harass the opposition party's leaders ahead of urban body and panchayat polls. Lakhma, 71, is a six-time MLA from Konta assembly seat and served as excise minister in the previous Congress government. Harish Lakhma is stated to be a panchayat president in his district. The ED sources said they are investigating allegations made by some "key accused" that Lakhma wa

'Coal-scam: Acquiring proceeds of crime can't be termed money laundering'

A Delhi court has refused to take cognisance of a chargesheet against Adhunik Corporation Limited and its two directors in a coal scam case lodged by the ED, saying an attempt to acquire proceeds of crime or anticipating undue benefits cannot be termed money laundering. In his December 23 order, Special Judge Arun Bhardwaj granted relief to Adhunik Corporation Ltd (ACL) and its then directors Mahesh Kumar Agarwal and Nirmal Kumar Agarwal in the case related to the New Patra Para coal block in Odisha. According to the Enforcement Directorate (ED), the family members and Group companies of the accused infused funds amounting to Rs 50.37 crore in the garb of share capital in ACL in anticipation of "undue benefit to be derived or obtained" by ACL as a result of, or consequence to, criminal activity relating to a scheduled offence (lodged by the CBI), resulting into allotment of coal block. The judge noted that according to the ED, the infusion of capital/ investment through the holding

Excise policy case: BJP Delhi chief accuses Kejriwal of being 'kingpin'

Sachdeva's statement comes after Delhi Lieutenant Governor (LG) VK Saxena granted the Enforcement Directorate (ED) permission to prosecute Kejriwal

Delhi LG gives nod to ED to prosecute Arvind Kejriwal in excise policy case

On December 5, the Enforcement Directorate sought permission for sanction of prosecution against Arvind Kejriwal

How has Indian govt taken double of the debt: Vijay Mallya hits back

Fugitive liquor baron Vijay Mallya questions excess recovery claims, seeks relief from authorities

Canada deploys aerial task force to boost border security to appease Trump

The Royal Canadian Mounted Police will operate the task force, made up of helicopters, drones and mobile surveillance towers

ED cannot direct prosecutors on court conduct in money laundering cases: SC

The Supreme Court has said the Enforcement Directorate and its director may provide instructions related to the facts of a money laundering case but they cannot direct their prosecutors on how to conduct themselves in court. The top court ruling underscored the independence of public prosecutors as officers of the court and limits the influence of investigative agencies in judicial proceedings. The observations were made in an order by a bench of Justices Abhay Oka and Augustine George Masih on Wednesday while granting bail to Zeeshan Haider and Daud Nasir, who were arrested in connection with the Delhi Waqf Board money laundering case. The bench took note of their prolonged incarceration and believed that the trial would not begin in the near future. The bench clarified the limits of the ED's authority over public prosecutors while addressing a trial court's directive that the director of the anti-money laundering probe agency issue instructions to prosecutors not to oppose bail .