Page 6 - Pmla Case

ED attaches Rs 24.95 cr worth properties of Hero MotoCorp's Pawan Munjal

The Enforcement Directorate on Friday said it has attached assets worth Rs 24.95 crore of Hero MotoCorp executive chairperson Pawan Kant Munjal as part of a money laundering investigation against him. Three immovable properties of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement. Munjal, it said, is the CMD and Chairman of Hero MotoCorp Ltd and the assets are worth about Rs 24.95 crore. The ED had carried out raids against Munjal and his companies in August after filing a PMLA case against him that was filed after taking cognisance of a Directorate of Revenue Intelligence (DRI) charge sheet that accused him of taking foreign exchange/currency out of India illegally. "The prosecution complaint alleges that foreign currency/foreign exchange equivalent to Rs 54 crore was illegally taken out of India," the ED said.

Vivo PMLA case: Court extends judicial custody of 4 accused till Nov 23

A court here on Thursday extended the judicial custody of four accused, including the managing director of Lava International mobile company and a Chinese national, till November 23 in a money laundering case against Chinese smartphone maker Vivo. Additional Sessions Judge Devender Kumar Jangala passed the order on an application moved the Enforcement Directorate. The four arrested are: Hari Om Rai, the MD of Lava International, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik. Defence advocate Nitesh Rana opposed the ED's application for extension of their judicial custody, saying it cannot be done "mechanically and automatically. There must be application of mind," Rana told the court. The anti-money laundering agency had raided the company and people linked to it in July last year and claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. The ED had then alleged a whopp

PMLA case: We will go into 'legal issues' only, says Supreme Court

The Supreme Court, which has decided to examine whether its 2022 judgement upholding the Enforcement Directorate's (ED) powers to arrest and attach property involved in money laundering under PMLA required any reconsideration, said on Friday it will deal only with the "legal issues" and not go into individual matters. The three-judge special bench headed by Justice Sanjay Kishan Kaul said this while hearing an interlocutory application filed by a man who has been summoned by the ED in a money laundering case related to alleged extortion of illegal levy on coal transportation and production of steel and iron pellets etc. "When the matter was taken up (on October 18), we had said we will go into the legal issues only and not individual issues," Justice Kaul said. The bench, also comprising Justices Sanjiv Khanna and Bela M Trivedi, said "We are dealing with larger issue which is apparent from the order passed on October 18. It is not possible for the special bench to deal with all ...

ED power to issue summons under Section 50 PMLA does not include arrest

To be sure, the power to arrest is conspicuously absent in Section 50 of the PMLA, said Delhi High Court

Vivo PMLA case: Court sends Lava MD, Chinese national to judicial custody

A court here on Wednesday sent Lava International MD Hari Om Rai and Chinese national Guangwen Kuang to judicial custody till October 30 in a money laundering case against Chinese smartphone maker Vivo. Additional Sessions Judge Devender Kumar Jangala, however, extended by two days the custodial interrogation of co-accused Nitin Garg. The court passed the order on an application moved by the Enforcement Directorate. The three accused were produced before the court on completion of their ED custody granted earlier. They were arrested under the provisions of the Prevention of Money Laundering Act (PMLA). The smartphone company has denied the allegations. Vivo has constantly denied the allegations. We will pursue necessary and appropriate legal recourse, a company representative said in a statement. The ED had raided the Chinese company and individuals linked to it in July last year, claiming to have busted a major money laundering racket involving Chinese nationals and multiple Ind

Making AAP accused in Delhi excise policy case not political vendetta: BJP

"The AAP altered the structure of the liquor policy to facilitate 'corruption'. If the party had not engaged in 'theft,' why would the investigative agencies be pursuing it?" he pointed out

Vivo PMLA case: Delhi court extends ED custody of accused by two days

A court here on Monday extended by two days the ED custody of three people, including Lava International MD Hari Om Rai, arrested in a money laundering case against Chinese smartphone maker Vivo. Additional Sessions Judge Devender Kumar Jangala extended the custody of Lava mobile company's managing director Rai, Nitin Garg and Chinese national Guangwen Kuang till October 18, saying the Enforcement Directorate (ED) was able to make out the case for grant of further custody remand. The accused were produced before the court on completion of their ED custody granted earlier. There appears to be continuity in the stand taken by Enforcement Directorate with regard to extraction of digital data and the accused persons to be confronted with the same. Therefore, considering the settled principles of law and Delhi High Court Rules, I am of the considered opinion that the Enforcement Directorate is able to make out the case for grant of further custody remand, the judge said. The court direc

ED attaches assets over Rs 57 cr in Karuvannur bank money laundering case

A total of 117 immovable properties located in three southern states, deposits in 92 banks and vehicles worth over Rs 57 crore have been attached in a money laundering probe linked to the Karuvannur Service Cooperative Bank of Kerala, the ED said on Friday. The Enforcement Directorate issued a provisional order under the Prevention of Money Laundering Act (PMLA) to attach the assets. The total value of these properties is Rs 57.75 crore. The attached assets include 117 immovable properties consisting of land and buildings in Kerala, Karnataka and Tamil Nadu; movable properties including 11 vehicles, fixed deposits and credit balances in 92 bank accounts of individuals found actively involved in the offence of money laundering, the federal agency said in a statement. The probe found loans were "illegally" sanctioned and disbursed to these persons and their benamis from the Karuvannur Service Cooperative Bank Ltd. in cash without sufficient collateral as part of a systematic conspirac

Enforcement Directorate arrests Lava MD, 3 others under PMLA in Vivo probe

Says their acts detrimental to India's economic sovereignty

ED attaches FDs of Sree Venkateshwara Industries under PMLA violations

The Enforcement Directorate on Thursday said it has attached fixed deposits worth Rs 90 lakh of a Hyderabad-based company in a money laundering case against it linked to alleged dumping of hazardous waste in violation of anti-pollution laws. The action has been taken against the company, Sree Venkateshwara Industries, under various sections of the Prevention of Money Laundering Act (PMLA), it said in a statement. The money laundering case of the ED stems from a complaint filed by the Telangana State Pollution Control Board (TSPCB) before the court of Metropolitan Magistrate, Cyberabad at Medchal. It was alleged by the board that the company was disposing "hazardous waste material without proper treatment in violation of the prescribed rules and regulations stipulated by the TSPCB under various sections of the Water (Prevention and Control of Pollution) Act, 1974 and the Air (Prevention and Control of Pollution) Act." Sree Venkateshwara Industries and its partners "did not" comply

Soren unlikely to appear before ED for questioning in money laundering case

Jharkhand Chief Minister Hemant Soren is unlikely to appear before the Enforcement Directorate (ED) here on Monday in connection with a money laundering case, a source said. The ED had on August 8 summoned Soren to depose on August 14 at the federal agency's office here and record his statement under the Prevention of Money Laundering Act. "The chief minister is unlikely to appear before the ED today in view of his busy schedule. He may request for another date from the agency," the source said. Soren was to be questioned in an alleged defence land scam case. The 48-year-old Jharkhand Mukti Morcha leader was interrogated for over nine hours by the ED on November 18 last year in another money laundering case linked to alleged illegal mining in the state. The central probe agency is investigating more than a dozen land deals, including one related to defence land, wherein a group of land mafia, middlemen and bureaucrats allegedly connived to forge deeds and documents of as long back

ED raids Hero MotoCorp Chairman Munjal's residence; PMLA case registered

The DRI had recently apprehended a close aide of Pawan Munjal in possession of undeclared foreign currency

PMLA case: SC seeks ED's reply on plea by Senthil Balaji against HC order

The Supreme Court on Friday sought response from the Enforcement Directorate (ED) on the pleas of Tamil Nadu Minister V Senthil Balaji and his wife Megala challenging the July 14 order of the Madras High Court upholding his arrest by the probe agency in a money laundering case. A bench of Justices A S Bopanna and M M Sundresh issued notice to the ED on the pleas and posted the matter for hearing on July 26. The minister and his wife have filed two separate petitions in the top court challenging the high court order. Besides upholding the arrest of the minister, the high court had also held as valid his subsequent remand in judicial custody by a sessions court in the money laundering case arising out of the alleged cash-for-jobs scam in the state's transport department when he was the transport minister. He continues to be a minister without portfolio in the Tamil Nadu cabinet. Justice C V Karthikeyan, who was named as a third judge by the high court to hear the habeas corpus petit

ED arrests TN Minister Senthil Balaji under anti-money laundering act

The Enforcement Directorate (ED) on Wednesday arrested Tamil Nadu Electricity Minister V Senthil Balaji under the Prevention of Money Laundering Act (PMLA), official sources said. He was arrested after a long session of questioning, they said, even as the minister was admitted to a city government hospital after he complained of uneasiness. He is likely to produced before a special court later where the agency will seek his custody. The agency had launched multi-city searches in the state on Tuesday at the premises linked to the DMK's Karur strongman as part of the probe into money laundering. The action came months after the Supreme Court allowed a police and ED probe into an alleged cash for jobs scam against him. Earlier, he was hospitalised after he complained of uneasiness, DMK leaders said. State Minister P K Sekar Babu claimed there were 'symptoms' that Balaji has been 'tortured.' TV visuals showed Balaji being uneasy while being brought to the Government Medical College,

ED arrests M3M director Roop Kumar Bansal in connection with PMLA case

The Enforcement Directorate (ED) has arrested M3M Promoter Roop Kumar Bansal in connection with a Prevention of Money Laundering case, said sources on Friday

ED chargesheets former Punjab SSP Surjit Singh Grewal in PMLA case

The ED said that the PMLA court in Punjab has taken cognizance of the complaint and have issued summons to the accused for July 28

Supreme Court makes a key clarification on grounds for bail under PMLA

The top court made these observations while considering an appeal by the Enforcement Directorate against the Telangana High Court orders

ED attaches immovable properties worth Rs 20.16 crore in PMLA case

The ED said that the accused acquired proceeds of crime and layered the same in the form of various immovable properties

ED attaches assets worth Rs 47.1 cr under PMLA in Cosmos bank loan fraud

The ED said that they also conducted a fund trail investigation and found that Vinay Aranha diverted the loans and got crores of rupees in cash

ED's power confined to probe money laundering offence, says Delhi HC

The Delhi High Court has held that the Enforcement Directorate (ED) has the power to investigate and inquire into an offence of money laundering under the Prevention of Money Laundering Act (PMLA) only and it cannot assume that a predicate offence has been committed. The high court said the predicate offence has to be necessarily investigated and tried by the authorities empowered by law in that regard and the ED cannot possibly arrogate unto itself the power to investigate into the alleged commission of those offences. What needs to be emphasised is that the PMLA empowers the ED to investigate Section 3 offences only. Its power to investigate and enquire stands confined to the offence of money laundering as defined in that section. However, the same cannot be read as enabling it to assume from the material, that it may gather in the course of that investigation, that a predicate offence stands committed. "The predicate offence has to be necessarily investigated and tried by the ...