Regulations
Samir Bhujbal sent to ED custody till February 8
Mumbai : A special court here on Tuesday sent Nationalist Congress Party leader Samir Bhujbal to the custody of Enforcement Directorate till February 8.
 
The ED had arrested Samir - the nephew of former deputy chief minister Chhagan Bhujbal - late on Monday on various charges under the Prevention of Money Laundering Act.
 
Special Judge P.R. Bhavke sent him to six days ED custody after the agency said that he had failed to appear despite three summons served on him.
 
The ED further said that it had scrutinized various records, bank documents and learnt about certain hawala transactions involving certain officials of the Mumbai Education Trust, controlled by the Bhujbals.
 
Earlier on Tuesday, NCP president Sharad Pawar sharply criticized the state government for what he termed "targetting" of the NCP leaders, specifically the Bhujbal family.
 
Samir's arrest followed a day of searches at nine premises owned by the Bhujbals in Mumbai, following complaints by BJP MP Kirit Somaiya who has been actively seeking to expose their alleged corrupt activities.
 
Last month, the ED had attached two properties worth Rs.1.10 billion in the Mumbai suburbs, preceded by two cases filed under Economic Case Information Reports against Chhagan Bhujbal, son Pankaj and nephew Samir, last June.
 
Besides, the Anti-Corruption Bureau has lodged three FIRs against the Bhujbals and other officials in the Maharashtra Sadan (New Delhi) building scam and a plot of land in Kalina, western suburbs of Mumbai, by a SIT under the orders of the Bombay High Court.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Panel under ex-CJI to sell PACL assets to refund investors: SC
New Delhi : The Supreme Court on Tuesday set-up a committee headed by its former chief justice R.M.Lodha to sell the assets of the PACL Ltd to refund the investors Rs.49,000 crore collected through collective investment scheme held illegal by market regulator SEBI.
 
Having set up the committee, a bench of Justice Anil. R. Dave and Justice Adarsh Kumar Goel directed the Central Bureau of Investigation (CBI) to hand over the title deeds of PACL properties to the Securities and Exchange Board of India (SEBI).
 
Indicating that the sale of PACL assets could be through auction route, the bench, however, said that Justice Lodha Committee would take a call on the modalities of sale of assets. The refund of money involves more than five crore investors.
 
Directing that no court in the country would entertain any plea in respect of the sale of PACL assets, the bench also restrained the PACL from going for any more investments from the public.
 
The court directed the committee to appoint experts to assists in the sale of land and directed the SEBI to appoint a nodal officer to for investor grievances.
 
The money to be refunded to the investors was allegedly collected by PACL and Pearls Golden Forest Limited - two companies belonging to Nirmal Singh Bhangoo-managed group - in the name of sale and development of agricultural land. 
 
The Pearls Group chairman-cum-managing and its three directors were arrested on January 8, following an apex court ordered probe in connection with the alleged cheating of Rs.45,000 crore.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

COMMENTS

peter v fernandes

7 months ago

i am an invester of this company, how to apply for the refund.

Vaibhav Dhoka

10 months ago

It must be time bound process,say 6 months to a year max then only it will have deterrent effect on scammers.Failing which investors ordeal will not end as in CRB scam.

Punjab police probes 'sexual exploitation' against hockey skipper Sardar Singh
Ludhiana : The Punjab Police is investigating a complaint from a British national who has alleged that she was "sexually exploited" by her fiance and Indian hockey team captain Sardar Singh, police said on Wednesday.
 
The complaint has been made by the woman who hails from Leeds in England and was the first Sikh player in the Britain under-19 women's hockey team , said the police in Ludhiana.
 
Investigation of the case has been marked to the Koom Kalan police station in Ludhiana district. Police station in-charge S. S. Nagra confirmed that the matter was being probed following a complaint.
 
The woman had complained to Ludhiana Police Commissioner P. S. Umranangal who marked the enquiry into it.
 
The woman alleged that Sardar Singh had got engaged to her in 2014 and she became pregnant recently after both had a physical relationship. She said the hockey skipper forced her to go for abortion and after that he started avoiding her.
 
The complainant said that she met Sardar in 2012 after becoming friends through a social networking site.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)