Businessman Raj Kundra and his actor-wife Shilpa Shetty, already facing a Mumbai police probe in a Rs 60-crore criminal breach of trust case, have now been charged with cheating. The Economic Offences Wing (EOW) has invoked the cheating charge against the couple in addition to criminal breach of trust, following a complaint by a businessman who alleges he was duped in a loan-cum-investment deal.
Private-sector lender IndusInd Bank had said the Serious Fraud Investigation Office (SFIO) interacted with its officials this week and would send a written communication seeking specific details related to the accounting discrepancies identified at the bank.
The Lookout Circular was issued by the city police's economic offences wing as the couple makes frequent international trips
Maharashtra Minister Ashish Shelar has accused the Shiv Sena (UBT) of mismanaging the Brihanmumbai Municipal Corporation (BMC), alleging that the opposition party and contractors misappropriated funds for the BRIMSTOWAD drainage system and Mithi River cleaning. Shelar claimed that the Sena (UBT) and BMC contractors looted Mumbai and did not complete the BRIMSTOWAD project work in 25 years, which could have saved Mumbai from flooding. He also alleged that Rs 1,000 crores were spent by the BMC on bogus Mithi River cleaning. Shelar's accusations come amidst heavy rainfall in Mumbai, which has exacerbated the city's monsoon woes. The incomplete BRIMSTOWAD project and inadequate desilting of nullahs have drawn criticism for the city's unpreparedness.
The couple last month filed a petition in HC seeking suspension of the Look Out Circular (LOC) issued against them by police in the case, so that they can travel for their professional commitments and leisure trips abroad.
This is the second time in the last three days that the actor was called for questioning, a police official said.
The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incident took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.
The EOW had registered a case against Pednekar and two senior officials of the Brihanmumbai Municipal Corporation (BMC) under various Indian Penal Code sections including 420 (cheating) and 120 (B) (criminal conspiracy), based on a complaint filed by BJP leader Kirit Somaiya.
Rakesh Wadhawan and his son Sarang Wadhawan, accused of loan default, have been arrested by the Economic Offences Wing.
The Enforcement Directorate has said it seized cash of Rs 1.70 crore and documents related to immovable assets during searches conducted against Jaypee Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL) and other entities in an alleged homebuyers' fraud case linked money laundering investigation. The raids were carried out at 15 premises in Delhi, Noida, Ghaziabad and Mumbai on May 23 under the Prevention of Money Laundering Act (PMLA).
The fraud is alleged to have caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC).
The co-operative banking sector is well regulated, and a few cases of restrictions being imposed by the Reserve Bank of India (RBI) should not paint a negative picture of the entire sector, said Department of Economic Affairs (DEA) secretary Ajay Seth on Monday. "Co-operative banks in the country are generally quite robust, and the RBI takes regulatory action whenever issues arise.
The Enforcement Directorate said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged Rs 4,500 crore (Rs 45 billion) fraud by Pancard Clubs Limited and others, in which more than 5 million investors have been duped.
Vaibhav Pandya has been charged with cheating and forgery.
The Lilavati Kirtilal Mehta Medical Trust (LKMMT), which runs Mumbai's Lilavati Hospital, has accused its former trustees and related individuals of misappropriating over Rs 1,500 crore. The trust has filed complaints with the Enforcement Directorate (ED) and the Bandra Police Station, alleging that the misappropriation, uncovered during a forensic audit, has impacted the trust's operations and healthcare services. The trust has also claimed that black magic was performed in the hospital premises by former trustees and related individuals. The Bandra Magistrate Court has ordered an inquiry against these individuals. The current trustees have identified large-scale irregularities in the hospital management body's affairs and appointed forensic auditors who found that over Rs 1,500 crore has been siphoned and misappropriated by the former trustees. The Mumbai police's Economic Offences Wing (EOW) has initiated a probe into an alleged cheating case of Rs 85 crore registered against three former trustees of the hospital.
The complaint in this regard was filed by Kirit Somaiya in July, the police official added.
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
Vaibhav, 37, was arrested on April 8 on the charges of criminal breach of trust, criminal intimidation, criminal conspiracy, forgery and other relevant sections of the Indian Penal Code for allegedly cheating the cricketer brothers to the tune of more than Rs 4 crore.
'I don't know when I will be able to access those funds.'
12 properties of former Mumbai city Congress chief Kripashankar Singh and his family were on Friday attached by the Mumbai police, three days after lodging an FIR against them for possessing assets disproportionate to their known sources of income.
Are the silenced guns of the Mumbai police causing the Mumbai underworld to rear its head? Is there a connection with the fewer number of gangsters killed in alleged encounters by the Mumbai police in recent time and the underworld being again in the spotlight? Investigates N Ganesh.
Bajpai, who is the most prominent face of the online survey company's India operations, was arrested under Indian Penal Code for cheating and conspiracy.
The Economic Offences Wing of Mumbai Police on arrested former managing director and chief executive of the beleaguered National Spot Exchange (NSEL) Anjani Sinha.
Sebi filed a criminal complaint against the brokers with the economic offences wing, which on Friday registered a case under the Forward Contract Regulation Act 1952.
The former BCCI chief appeared before the Economic Offences Wing of the Mumbai police
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
The Supreme Court on Friday stayed the Bombay high court order directing sale of bankrupt Housing Development and Infrastructure Ltd (HDIL) to ensure the repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay high court order.
NCP MP Supriya Sule and other party leaders accompanied the 38-year-old legislator till the entrance of the probe agency's office.
A local court in Mumbai has refused to close a cheating case against Bharatiya Janata Party leader Kirit Somaiya and his son, noting further probe was necessary as police have not investigated what was done with funds collected by them to save the decommissioned naval aircraft carried Vikrant.
The Economic Offences Wing (EOW) of Mumbai police has registered a case against Shiv Sena (UBT) legislator Ravindra Waikar and five others in connection with the construction of a luxury hotel in a western suburb, an official said on Friday.
The court will now decide whether to accept the report or direct the agency to continue the investigation and file a chargesheet.
The case is linked to an alleged fraud of over Rs 512 crore in a Panvel-based cooperative bank.
The EOW stated in its closure report that it did not see any criminality or wrongdoing in the matter, adding that the bank in question did not suffer any losses in the process of sanctioning loans or selling the Jarandeshwar Sugar Mill.
The Mumbai police have registered an FIR against former city Bharatiya Janata Party youth wing president Mohit Kamboj and two others on charges of cheating, an official said on Wednesday.
Shah and Javalgekar were arrested on May 7.
Court cases, investigations, dwindling sales and fall in market capitalisation could make recovery a tough challenge.
Sandeep Raut has been asked to depose before the central agency at its office in Mumbai next week, they said, adding his statement will be recorded under the Prevention of Money Laundering Act.
A key accused in the infamous PMC bank scam of Maharashtra was caught in Bihar while trying to sneak into Nepal, an immigration official said here on Thursday.
A total of 161.30 acres of land, plant, machinery and building of the Kannad Sahakari Sakhar Karkhana Limited (Kannad SSK) located in Kannad village of Aurangabad district has been provisionally attached under the Prevention of Money Laundering Act (PMLA), the ED said in a statement.
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