Fugitive diamond merchant Nirav Modi’s sister Purvi Modi helped the Enforcement Directorate (ED) to recover Rs 17.25 crore in a money laundering case they are investigating against her brother. Purvi had an account associated with her in the UK with $2,316,889 (Rs 17.25 crore) balance and transferred the money into the bank account of the … Continue reading Nirav Modi’s sister helps ED to recover over Rs 17 crore
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The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking “necessary action” against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation … Continue reading ED initiates FEMA probe against Amazon
In a significant fallout of diamantaire Nirav Modi’s sister Purvi and her husband Maiank Mehta turning approvers, the Enforcement Directorate (ED) will be able to recover Rs 580 crore through auction of their attached properties and money lying in their bank accounts without any legal hassle, sources said. The duo turning witnesses against Nirav bolsters … Continue reading Nirav Modi’s sister may help ED recover Rs 580cr
The Bombay high court on Wednesday heard Rohin Modi, son of Nirav Modi, on his challenge to confiscation of the south Mumbai triplex penthouse at Samudra Mahal, by ED, without giving him a chance to be heard as its beneficial owner. His counsel Abhimanyu Bhandari said Rohin, now an adult, was the beneficiary of the … Continue reading Nirav Modi’s son in HC against seizure of penthouse
The Enforcement Directorate (ED) has attached properties worth Rs 4,109 crore spread across various states in a money-laundering case linked to an alleged Ponzi scheme, the agency said on Thursday. The case pertains to the Agri Gold Group of Companies. Three promoters of the group were arrested by the central agency on Tuesday.
Bombay high court on Monday rejected a plea made by Enforcement Directorate (ED) to challenge an order of the sessions court that was in favour of Jet Airways. Sessions Judge had in October rejected the ED’s application to intervene in closure of a case of alleged cheating and criminal breach of trust registered against Jet … Continue reading Bombay HC rejects ED plea in Jet Airways case
The Enforcement Directorate (ED) on Friday seized Vijay Mallya’s assets worth €1.6 million (approximately Rs 14 crore) in France, under the anti-money laundering law. On request of ED, French authorities have seized Mallya’s property located at 32 Avenue FOCH.
The Enforcement Directorate (ED) Friday assured the Supreme Court that it would not take any coercive action against former ICICI Bank CEO and MD Chanda Kochhar in a money laundering case. A bench headed by Justice S K Kaul was informed by Solicitor General Tushar Mehta that the agency would not take any coercive step … Continue reading ED assures SC of no coercive action against Kochhar
The Enforcement Directorate (ED) has filed its first chargesheet against former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot on money laundering charges, official sources said on Wednesday.
Deepak Kochhar was arrested bythe ED in September under the Prevention of Money Laundering Act (PMLA) in the ICICI Bank-Videocon money laundering case.
Rose Valley, which is under the concurrent probe of the CBI and ED for allegedly defrauding investors, has already returned around Rs 10,500 crore out of Rs 17,520 crore raised from them, an official said on Monday. He said the ED had also attached properties worth Rs 4,500 crore and filed two prosecution complaints with … Continue reading Rose Valley returned Rs 10,500cr to investors: ED
There is no ED investigation against Amnesty International India Foundation, which on Tuesday declared halting its operations in the country, but against a private company linked to the NGO that allegedly received dubious export proceeds worth over Rs 51 crore, government sources said.
The ED has claimed that it is investigating major beneficiaries of the payouts from Paytm and HSBC Bank accounts of illegal betting transactions worth Rs 1,000 cr run by Chinese nationals using banned apps. The payment gateways were allegedly used for overseas transactions. On Tuesday, a Hyderabad court sent a Chinese national and two others … Continue reading Chinese betting apps: ED lens on Rs 1k cr payouts
Former ICICI Bank MD and CEO Chanda Kochhar’s husband Deepak Kochhar has been remanded in Enforcement Directorate (ED) custody till September 19 in connection with the ICICI Bank-Videocon case.
The ED has arrested Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, in connection with a money laundering case, officials said on Monday. They said Deepak Kochhar was arrested by the agency in Mumbai under sections of the PMLA. The couple has been questioned by the ED in a case of alleged irregularities … Continue reading ED arrests ex-ICICI MD Chanda Kochar’s husband
The ED on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders law. The businessman and his uncle Mehul Choksi among others are being probed by the ED on money laundering charges in connection with an over $2 billion alleged bank fraud at a … Continue reading ED confiscates over Rs 329cr assets of Nirav Modi
The Enforcement Directorate (ED) registered a money laundering case on Tuesday against GVK Group promoters along with others in connection with fraudulent transaction between Mumbai International Airport Ltd (MIAL) and other companies for the development of Mumbai airport. The ED will investigate the financial transaction between MIAL and other companies.
The Enforcement Directorate (ED) has slapped its biggest ever FEMA show cause notice of Rs 7,220 crore on a Kolkata-based jewellery house for allegedly indulging in illegal foreign exchange abroad, official sources said on Monday.
The ED brought back over 2,300 kg of polished diamonds and pearls worth Rs 1,350 crore of firms belonging to Nirav Modi and Mehul Choksi from Hong Kong. Out of the 108 consignments that landed at Mumbai, 32 belong to overseas entities “controlled” by Nirav while the rest are of Mehul Choksi firms.
The Enforcement Directorate on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court. Kapoor, the former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans … Continue reading Yes Bank: ED files charge sheet against Kapoor
The Enforcement Directorate (ED) on Friday issued seizure orders for five luxury vehicles used by DHFL promoters Kapil and Dheeraj Wadhawan to travel to their farmhouse in Maharashtra’s Mahabaleshwar during the coronavirus lockdown. Officials said the agency has sent an official order, issued under the PMLA to the Satara Superintendent of Police for execution.
The former managing director and CEO of the private lender was arrested by the ED here on March 8 under provisions of the PMLA (Prevention of Money Laundering Act) as he was allegedly not cooperating in the probe related to the crisis at Yes Bank which has been placed under moratorium by the RBI.
Reliance Group chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.
A special court on Wednesday extended till March 16 the Enforcement Directorate (ED) custody of Yes Bank founder Rana Kapoor, arrested on money laundering charges. During the hearing, the ED told the special Prevention of Money Laundering Act (PMLA) court that Kapoor had sanctioned loans worth Rs 30,000 crore to different entities during his tenure.
The Enforcement Directorate (ED) is looking into more multi-crore rupees loans issued by Yes Bank to corporate houses that turned NPAs as part of its money-laundering investigation against its arrested promoter Rana Kapoor, said officials. ED has widened its probe in the case beyond the loan to DHFL and is now looking for more evidence … Continue reading Big loans issued by Yes Bank under ED scanner
Rana Kapoor’s secretary had coordinated with officials of the scam-tainted DHFL for a Rs 600-crore loan, believed to be a kickback, as per ED. The kickback was in lieu of a Rs 4,450-crore debenture investment and loan sanctioned by Yes Bank to DHFL group companies.
The Enforcement Directorate on Friday conducted raids at Yes Bank founder Rana Kapoor’s flat at Samudra Mahal in Worli, in connection with transactions with Dewan Housing Finance Corporation Ltd or DHFL.
Crisis-hit Yes Bank’s founder Rana Kapoor was brought to the Enforcement Directorate’s (ED) office in Mumbai for questioning in connection with a money-laundering case against him. The ED is probing Kapoor’s role in connection with the disbursal of a loan to a corporate entity and the subsequent alleged kickbacks reportedly received in his wife’s accounts.
During its recent raids on the premises of Dewan Housing Finance Corporation (DHFL), the enforcement directorate (ED) recovered a customized software which was allegedly used to create around one lakh fictitious accounts.