Page 5 - Pmla Case

ED issues fresh summons to Delhi CM Kejriwal, asked to appear on March 21

The Enforcement Directorate has issued fresh summons to Delhi Chief Minister Arvind Kejriwal for questioning on March 21 in the excise policy linked money laundering case, official sources said Sunday. The 55-year-old national convenor of the Aam Aadmi Party (AAP) has been asked to depose at the central agency's office in central Delhi. The ninth summons have been issued so that Kejriwal's statement can be recorded under the Prevention of Money Laundering Act (PMLA), the sources said. The CM has repeatedly refused to appear in response to these summons, calling them illegal. A Delhi court on Saturday had granted bail to Kejriwal on two complaints filed by the agency against him for skipping six of the previous eight summons in this case. The agency arrested BRS leader K Kavitha in this case two days back.

ED attaches assets worth Rs 367 crore in Bhushan Steel 'bank fraud' case

The Enforcement Directorate (ED) on Friday said it has attached immovable assets worth Rs 367 crore in Delhi, Mumbai, Kolkata and some cities in Odisha as part of a money-laundering probe linked to an alleged bank-loan fraud against Bhushan Steel Limited (BSL). A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the assets that were held "in the name of benamidars/shell entities through dummy directors so as to conceal them and to ensure that they are out of the reach of law enforcement agencies", the ED has said in a statement. After completing the corporate insolvency resolution process (CIRP), BSL was taken over by Tata Steel Limited in 2018. The ED has accused BSL, its managing director Neeraj Singal and associates of forming "several shell companies". "They rotated funds from one company to another through a chain of multiple entities. The funds were circulated to infuse capital, buy property and for other personal purposes not ...

Paytm PB failed to use mechanism for detecting suspicious transactions: FIU

Paytm Payments Bank failed to put in place an internal mechanism to "detect and report" suspicious transactions as stipulated under the anti-money laundering law and was unsuccessful in conducting due diligence of its payout service, the FIU said in its order that imposed a fine of Rs 5.49 crore on the digital entity. The federal financial intelligence gathering and dissemination agency said in its March 1 order that these charges against the bank, a registered reporting entity with the FIU under the PMLA, were "substantiated" after more than four years of investigation and a show cause notice that was issued against it on February 14, 2022. After the Union finance ministry issued a press statement on the FIU action, a Paytm Payments Bank spokesperson had said that the penalty pertains to issues within a business segment that was discontinued two years ago. "Following that period, we have enhanced our monitoring systems and reporting mechanisms to the Financial Intelligence Unit ...

FIU imposes Rs 5.49 cr penalty on Paytm Payments Bank for PMLA violations

After scrutiny of documents, FIU had issued a compliance Show Cause Notice to the bank for its violations of PML rules, including Know Your Customer

PMLA court remands ex-CM Soren to judicial custody in money laundering case

A special PMLA court on Thursday remanded former Jharkhand chief minister Hemant Soren to judicial custody in connection with a money laundering case linked to an alleged land scam. The ruling Jharkhand Mukti Morcha executive president was in the ED custody. "Hemant Soren was produced before the special PMLA court today and he was remanded to judicial custody till February 22. We will file a bail application for him," said Advocate General Rajeev Ranjan, who appeared for the former chief minister. Soren was taken to Birsa Munda Central Jail at Hotwar in Ranchi from the court. He was arrested on January 31 by the ED. On February 2, the court granted five days of ED custody to Soren and extended it twice for seven days in total.

PMLA court extends ED custody of former CM Hemant Soren by 5 days

A special PMLA court on Wednesday extended the Enforcement Directorate (ED) remand of former chief minister Hemant Soren by five days in a money laundering case linked to an alleged land scam, lawyers said. Soren, JMM executive president, on February 2 was remanded to five days' ED custody by the special PMLA (The Prevention of Money Laundering Act) court which ended on Wednesday. "The ED had prayed for seven days of remand which we objected saying no further remand is required because he has already been interrogated for eight hours on January 20 and another eight hours on January 31," Advocate General Rajeev Ranjan, who appeared for Soren, told reporters. Apart from that, he has already been interrogated for 120 hours in five days. "So, there is no need for any further remand. But they have tried to expand this scope of investigation beyond the predicate offence matter. We have been saying that they (ED) have no power and jurisdiction to investigate anything beyond the predicate

ED raids Jharkhand CM Soren's associates in alleged money laundering case

The agency, since 2022, has been probing a trail of Rs 100 crore of "proceeds of crime" generated from illegal mining operations in the state

Vivo PMLA case: ED moves Delhi HC against release of three employees

The trial court last week allowed the plea moved by Hong Xuquan, Harinder Dahiya and Hemant Munjal to challenge their arrest and subsequent custody in a PMLA case and directed their immediate release

Delhi court grants bail to 3 vivo-India executives, ED to challenge order

The ED had raided vivo-India and its linked persons in July last year and claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies

Congress leader Priyanka Gandhi named in ED's PMLA case charge sheet

ED has named Robert Vadra in its earlier charge sheet related to the case as an alleged close aide of Thampi

Mahadev app owner detained in Dubai; ED may file fresh charge sheet

Sourabh Chandrakar, one of the promoters of the Mahadev online betting app, has been put under "house detention" in Dubai while Indian probe agencies, including ED, have been "alerted" and are working through diplomatic channels to get him deported, official sources said on Wednesday. The Enforcement Directorate may also file a fresh charge sheet in this multi-crore money laundering case soon, they said. The development comes weeks after Ravi Uppal, another promoter of the betting and gaming app, was detained by local authorities in Dubai on a red notice (RN) issued by Interpol at the behest of the ED. The sources said Chandrakar's location in Dubai has been intimated to the federal agency and he has been put under "house detention". Indian agencies are working, through diplomatic channels, to secure the deportation or extradition of the two who are vital to the money laundering and police investigation into the alleged illegal activities of the 'Mahadev Book Online' app that also

ED files PC against Premia Projects, Solitaire Infomedia under PMLA act

During the ED investigation, movable or immovable property worth Rs. 24.17 crore was provisionally attached

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

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

Smartphone maker Vivo India reports net profit of Rs 211 crore in FY23

Vivo India has reported profits at a time when the overall smartphone industry has seen a 10% decline in shipments

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

Vivo case: Notice to Tihar officials on Lava MD's plea against jail shift

ED recently arrested Chinese national Guangwen Kuang, Lava International's MD Hariom Rai Nitin Garg and Rajan Malik under a different section of the Money Laundering Act

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 summons Karti Chidambaram in PMLA probe; MP calls it 'most bogus' case

Congress MP Karti Chidambaram has not deposed before the ED for questioning in a money laundering probe linked to alleged irregularities in the issuance of visas to 263 Chinese nationals in 2011 and dubbed the case "most bogus". The 52-year-old legislator from the Sivaganga Lok Sabha seat in Tamil Nadu was summoned by the central agency to appear this week at its office here and record his statement in the case being probed under the Prevention of Money Laundering Act (PMLA). The MP is understood to have informed the ED that he was occupied with the ongoing Parliament session. 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 complaint. Karti told PTI that the case was "most bogus