ENFORCEMENT & INVESTIGATION


Moneylife Digital Team 09 January 2025
The Hyderabad zonal office of the directorate of enforcement (ED) has provisionally attached 27 immovable properties having a market value of about Rs103.4 crore and a book value of Rs17.14 crore under the provisions of the Prevention of Money Laundering Act (PMLA), in a Ponzi scheme case...

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Moneylife Digital Team 06 January 2025
Last week, the Bombay High Court issued a notice to the central bureau of investigation (CBI) regarding a plea to transfer the investigation of a high-profile mutual fund scam. The case involves Viresh Joshi, former chief trader and fund manager at Axis Mutual Fund, and others accused of...

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Moneylife Digital Team 19 December 2024
The Kolkata zonal office of the directorate of enforcement (ED) conducted search operations at 13 places of Concast Steel and Power Group under the provisions of the Prevention of Money Laundering Act (PMLA) in a bank fraud case. Concast Steel and Power Group had availed credit facilities from...

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Moneylife Digital Team 19 December 2024
The Mumbai zonal office of the directorate of enforcement (ED) on Tuesday conducted search operations at nine different locations across Mumbai and Aurangabad under the provisions of the Prevention of Money Laundering Act (PMLA) in a money laundering case involving bank fraud against Spectra...

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Sahyaja MS (Bar  and   Bench) 12 December 2024
The Bombay High Court's Aurangabad bench on Wednesday refused to quash criminal proceedings initiated against Hindustan Coca-Cola Beverages over allegations that they sold adulterated units of their soft drink 'Canada Dry' in 2001 (Hindustan Coca-Cola Beverages Pvt Ltd v The State of...

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Moneylife Digital Team 10 December 2024
A special Prevention of Money Laundering Act (PMLA) court in Mumbai allowed the monetisation of properties worth Rs2,565.90 crore attached or seized by the directorate of enforcement (ED) in Mehul Choksi's Punjab National Bank (PNB) fraud case.    "In pursuance to the order, the process of...

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Moneylife Digital Team 06 December 2024
While barring Mishtann Foods Ltd (MFL) from raising funds for seven years, market regulator Securities and Exchange Board of India (SEBI) asked the company to retrieve nearly Rs100 crore allegedly misappropriated and diverted to group entities, promoters and directors.    In an order, Ashwani...

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Praisy Thomas (Bar  and   Bench) 05 December 2024
The Kerala High Court on Wednesday ordered the Enforcement Directorate (ED) to probe allegations of fraud against the Kollam-based Edamulackal Cooperative Bank Ltd (Rajendran Unnithan v. Registrar of Cooperative Societies and ors).   The case involves allegations that funds worth Rs24.44...

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Moneylife Digital Team 04 December 2024
The central bureau of investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an ongoing investigation of a transnational cyber-enabled fraud case involving large-scale financial scams.   During the searches, incriminating...

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Moneylife Digital Team 02 December 2024
For committing certain fraudulent acts involving 4B Networks Pvt Ltd funds, the Bandra police have registered a first information report (FIR) against 4B Networks' Rahul Yadav, Devesh Singh, Pratik Choudhary, Sanjay Saini and others. Allcheckdeals India Pvt Ltd (AIPL), a unit of Info Edge Ltd,...

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Moneylife Digital Team 28 November 2024
The Dimapur sub-zonal office of the directorate of enforcement (ED) has attached proceeds of crime (POC) in the form of movable and immovable properties in India and Dubai valued at about Rs106.20 crore belonging to various persons and shell entities, including Chinese-linked shell entities....

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Moneylife Digital Team 26 November 2024
The directorate of enforcement (ED) has attached fresh assets worth about Rs219 crore in its ongoing probe in the case of Fairplay Sports LLC which is involved in online betting and illegal broadcasting of cricket and Indian Premier League (IPL) matches. The ED is investigating a money...

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Debayan Roy (Bar  and   Bench) 25 November 2024
A plea has been moved before the Supreme Court seeking to place additional documents on record and highlight new facts regarding alleged malpractices by the Adani Group, following recent indictments in the United States.   The plea by advocate Vishal Tiwari has been filed in the already...

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Moneylife Digital Team 14 November 2024
The Chennai zonal office of the directorate of enforcement (ED) has seized about Rs8.38 core in Indian currency from the office premises of Chenai-based OPG group and the residential premises of the company directors after search operations carried over two days. The seizure has been done for...

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Moneylife Digital Team 14 November 2024
Following an order from the Supreme Court, the Hyderabad zonal office of the directorate of enforcement (ED) has initiated the process of restitution of properties belonging to Dr Aalima Nowhera Shaik, chairman of the controversial Heera Islamic Business Group, better known as Heera Gold to...

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Moneylife Digital Team 07 November 2024
The directorate of enforcement (ED) has been conducting searches at 19 premises belonging to main vendors of Amazon and Flipkart located in Delhi, Bengaluru, Mumbai, Hyderabad and Panchkula (Haryana), say media reports. The searches are being conducted under the alleged violation of the Foreign...

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Moneylife Digital Team 07 November 2024
In a significant setback to the directorate of enforcement (ED), the Supreme Court ruled that sanction under Section 197(1) of the Code of Criminal Procedure (CrPC) is mandatory for the trial courts to take cognisance of the prosecution complaint or charge-sheet filed by the agency against a...

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Moneylife Digital Team 07 November 2024
The Mumbai zonal office of the directorate of enforcement (ED) has provisionally attached additional assets worth around Rs333.82 crore in the case of Dnyanradha Multistate Co-operative Credit Society Ltd (DMCCSL), Suresh Kute and others under the provisions of the Prevention of Money...

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Moneylife Digital Team 28 October 2024
Investigating a bank fraud case, the Nagpur sub-zonal office of the directorate of enforcement (ED) has attached assets worth Rs503.16 crore belonging to Corporate Power Ltd, the company promoters and directors Manoj Jayaswal, Abhijeet Jayaswal, Abhishek Jayaswal and others. The case is related...

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Moneylife Digital Team 16 October 2024
Andhra Pradesh (AP) chief minister (CM) N Chandrababu Naidu received a clean chit from the directorate of enforcement (ED) in the alleged Rs 371-crore AP state skill development corporation (APSSDC) Siemens project scam that led to his arrest in 2023, says a report from Times of India (ToI)....

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