ENFORCEMENT & INVESTIGATION


Moneylife Digital Team 18 April 2024
The Mumbai zonal office of the directorate of enforcement (ED) has provisionally attached immovable and movable properties worth Rs97.79 crore belonging to Ripu Sudan Kundra, aka Raj Kundra, under the provisions of the Prevention of Money Laundering Act (PMLA). The attached properties include a...

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Moneylife Digital Team 05 April 2024
Citing the lengthy incarceration and delay in trial, the Bombay high court (HC) on Friday granted bail to Rakesh and Sarang Wadhawan, promoters of Housing Development & Infrastructure Ltd (HDIL) in the multi-crore Punjab and Maharashtra Co-operative (PMC) Bank fraud case. The directorate of...

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The Enforcement Directorate (ED) has issued a 'provisional attachment order' under the Prevention of Money Laundering Act (PMLA), 2002, attaching assets valued at Rs 40.37 crore belonging to Vikram Homes Pvt. Ltd as part of a bank fraud case linked to Rakesh Wadhawan and Sarang Wadhawan, the...

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The enforcement directorate (ED) has provisionally attached movable properties in the form of crypto currencies, gold, and cash valued at over Rs430 crore in a money laundering case against accused Divyesh Darji and others.   According to officials, the financial probe agency had...

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Cracking down on the part-time job scamsters, the Enforcement Directorate (ED) on Thursday attached over Rs 32 crore lying as a balance in over 500 bank accounts in Hyderabad and adjoining areas.   The scam came to light after the Cyber crime department of Hyderabad Police lodged...

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Sam Bankman-Fried, the co-founder and CEO of collapsed crypto exchange FTX, was on Thursday sentenced to 25 years in prison in the US for seven counts of conspiracy and fraud charges.   Judge Lewis Kaplan ordered a 240-month sentence and a 60-month sentence to be served consecutively,...

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The Enforcement Directorate (ED) has attached immovable properties worth Rs124.57 crore belonging to RS Infrastructure Private Ltd, M/s Kenwood Mercantile Private Ltd, M/s Goodfaith Builders Private Ltd and other suspects involved in money laundering in connection with the case of M/s...

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Moneylife Digital Team 22 March 2024
The public disclosure of subscription to electoral bonds, mandated by the Supreme Court, has revealed several questionable practices that demand further scrutiny. Reports indicate that some companies have spent multiples of their annual profits to donate to political parties through electoral...

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Delhi Chief Minister Arvind Kejriwal was arrested on Thursday night by the Enforcement Directorate (ED) in the liquor policy case after being questioned at his official residence for over two hours, and taken to the agency's office.   The ED team, which included a Joint Director of the...

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Moneylife Digital Team 21 March 2024
The directorate of enforcement (ED) has provisionally attached movable and immovable assets located in Nashik, Thane, Sindurgarh and Pali districts, among other areas across Maharashtra and Rajasthan, worth Rs84.24 crore belonging to the promoters of multilevel marketing (MLM) KBC Multitrade...

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The enforcement directorate (ED) has filed a charge-sheet before the special PMLA (Prevention of Money Laundering Act) court in Delhi against Karti P Chidambaram and his former chartered accountant S Bhaskararaman in the Chinese visa scam case.   The agency stated on Thursday that the court...

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Moneylife Digital Team 19 March 2024
The Bombay High Court (HC), on Tuesday, sentenced Mumbai's former encounter specialist police officer Pradeep Sharma to life imprisonment in the case of the fake encounter killing of Lakhan Bhaiya in 2006. The HC also upheld life imprisonment awarded to 13 others, including 12 police personnel,...

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Moneylife Digital Team 15 March 2024
Shares of several companies, in which Dubai-based hawala operator Hari Shankar Tibrewala (sometimes mentioned as Tibrewal) owns a stake through the foreign portfolio investor (FPI) route, continue to fall on Indian stock exchanges. Cellecor Gadgets Ltd, in which Tano Investments Opportunities...

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Moneylife Digital Team 01 March 2024
Confirming its interim directions against 20 entities in the Brightcom Group Ltd (BGL) matter, the Securities and Exchange Board of India (SEBI) suggested an examination and action if required by the directorate of enforcement (ED) in the settlement of loans advanced to M Suresh Kumar Reddy,...

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Moneylife Digital Team 29 February 2024
Zambia-based advocacy group Advocates for National Development and Democracy (ANDD) has expressed concern that contractors owed by the Konkola Copper Mine (KCM) of Vedanta Resources have reportedly not yet been paid, says a report.   A report from ZambiaMonitor.com says ANDD executive...

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IANS 28 February 2024
Actor and former MP Jaya Prada has been declared to be "absconding" by a special court in UP's Rampur after she failed to appear for hearings for two cases against her.   The cases pertains to the violation of the election code of conduct during the 2019 Lok Sabha elections, where she...

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Moneylife Digital Team 26 February 2024
Passenger vehicle (PV) volume will ascend to a new peak for the third straight time next fiscal, growing 5%-7% on a high base of 6%-8% estimated for the current fiscal, as sport utility vehicles (SUVs) race ahead even as demand for cars and exports remains muted, says a research...

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Moneylife Digital Team 23 February 2024
The directorate of enforcement (ED) has provisionally attached immovable properties totalling Rs13.20 crore in the form of shops in SGS Mall at Pune held by SGS group under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). The case is related to Rs6,117.93 crore fraud in...

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IANS 22 February 2024
The enforcement directorate (ED) carried out raids at multiple offices of the realty major Hiranandani group, for alleged violations of FEMA (Foreign Exchange Management Act) rules, official sources said here on Thursday.   The raids and searches were going on at the Hiranandani group...

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IANS 20 February 2024
A forger here fell into the hands of a vigilant officer who detected a spelling mistake on the passport.   The accused was identified as Darshan Kaur (54), an Indian National, and a resident of Barnala in Punjab. She had arrived at the Delhi Airport by Batik Air flight from Malaysia...

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