ED has come across two immovable assets - one flat in Dubai and one land parcel in London. It is examining the valuation of both properties, estimated between Rs 150 crore and Rs 200 crore.
The Reserve Bank of India has issued several warnings that the public should not fall prey to such unscrupulous activities and verify the companies offering loans online and through apps.
The high court said the investigation has shown the crime proceeds were used for air travel and purchase of high-end branded gifts for Bollywood celebrities.
Maharashtra Deputy Chief Minister Ajit Pawar on Friday said he did not have any connection with Guru Commodity Services Pvt Ltd which is under the Enforcement Directorate's (ED) scanner, though a sugar mill owned by the company is being run by one of his relatives.
According to police, the documents recovered during the raids revealed that Singh was allegedly involved in promoting enmity and hatching a conspiracy against the established government and public representatives and was booked under sedition charges.
The Thackerays sought dismissal of the PIL on the ground that it was filed on assumptions and without any factual foundation.
ED lawyer Hiten Venegaonkar contended that huge amount of money was laundered and Shah's acts constituted a very serious economic offence
The Delhi high court on Wednesday allowed Chinese smartphone maker Vivo to operate its various bank accounts frozen by the Enforcement Directorate in connection with a money-laundering probe subject to furnishing of a bank guarantee of Rs 950 crore within a week with the agency. Justice Yashwant Varma also directed the company to give details to ED about its remittances and issued notice to the investigating agency on Vivo's plea seeking quashing of the order freezing its various bank accounts. ED contended that presently the proceeds of crime have been quantified to Rs 1200 crore.
The Delhi police on Tuesday arrested two persons including NewsClick founder Prabir Purkayastha in connection with a probe in the portal's foreign funding, officials said.
The Enforcement Directorate on Tuesday arrested Financial Technologies India Limited founder Jignesh Shah in connection with its probe into the Rs 5,600-crore National Spot Exchange Limited money laundering scam.
The agency's latest action, under Prevention of Money Laundering laws, had been taken against the borrower company and its two group companies, which owe the investors Rs 922 crore (Rs 9.22 billion), sources said.
The investigating officer of the Delhi police, in the remand application, had sought custodial interrogation of the accused saying it was required to identify the persons to whom the alleged siphoned off money was transferred and to ascertain the purpose of creating the shell companies.
The economic offence wing of Delhi police has registered an FIR against Nayati Healthcare's Niira Radia and four others for alleged embezzlement of over Rs 300 crore of bank loan, following a complaint filed by orthopaedic surgeon Rajiv Sharma from whom they had acquired two hospitals.
AAP alleged that the BJP had struck a deal with the "conman sitting in Tihar''.
In a breather to social activist Teesta Setalvad and her husband, the Bombay high court on Friday granted the duo 17-day interim relief from arrest in a Central Bureau of Investigation case alleging that her company received Rs 1.8 crore from abroad without mandatory approval from Centre.
The Ministry of Corporate Affairs ordered the inspection of the books of accounts of NSEL and Financial Technologies India Ltd to ascertain if any rules under the Companies Act were violated, a senior official said.
In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
Shah is likely to be released later on Friday evening or Saturday after completing the formalities.
The tax department surveyed the office of the news portal located at Sarvodaya Enclave in south Delhi on Friday along with that of another digital news platform Newsclick in Saidulajab area (south Delhi) on charges of alleged tax evasion.
The CBI has named Prasad, his wife Rabri Devi, and daughters Misa Bharti and Hema Yadav, in addition to 12 people who were given jobs in Railway zones of Mumbai, Jabalpur, Kolkata, Jaipur, Hajipur, the officials said.
The ED slapped criminal charges of money laundering on the basis of the Mumbai Police FIR that was filed in August this year, which itself was filed on the basis of a similar complaint by the state economic offences wing.
The ruling Aam Aadmi Party accused the central dispensation of keeping the party ministers and MLAs in controversy to ensure that the work done by the Delhi government was not highlighted among the people.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
The bench expressed displeasure over the trend of filing of sedition cases just after senior advocate F S Nariman made opening submissions on behalf of Singh, saying 'the gentleman has served as the Additional Director General of Police (ADGP) and was acting as the Director of the Police Academy and now the proceedings under section 124A (sedition) of the IPC have been initiated against him'.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
About Rs 5,600 crore (Rs 56 billion) of investments of some 13,000 investors are stuck in NSEL. Despite reports from several internal committees of regulators and investigative agencies pointing to fraudulent activities, there hasn't been any substantial enforcement action against the exchange or the officials.
The Central Bureau of Investigation has sought posting of its officers in some of the Indian missions abroad besides cutting down of red-tape involved in sending Letters Rogatory (LR) as measures to expedite cases related to black money.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
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Quoting the FIR registered on the basis of a complaint, the Economic Offences Wing of Mumbai said accused Nailesh Mehta of Dev Developers in Andheri pretended himself as the partner of Zoomi Construction Company by preparing fake documents and acquired the latter's rightful TDR from the Slum Rehabilitation Authority.
A local court remanded Indrani and her driver Shyam Rai to judicial custody for two weeks while the other accused Sanjay Khanna was taken to Kolkata for being produced in a court there.
A more informed electorate, rather than the Lokpal, can fight corruption better, argues Neeta Kolhatkar.
The SC bench directed the court-appointed forensic auditors to complete their detailed investigation on divergence of home buyers money by Amrapali group before March 22 and list the matter for hearing on March 24.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
'We were number one in commodity, currency, electricity, bonds, spot and everything. 'The purpose was to create an accident and then exploit it to eliminate the group. There were so many vested interests and therefore they did this," said Shah.
Somaiya had on Sunday claimed he was barred from entering Kolhapur with the district authorities citing law and order as well as security concerns following his allegations of corruption against Maharashtra Rural Development Minister Hasan Mushrif.
The measures needed for implementing this new system would start rolling in few weeks, the minister added.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Mumbai police, citing his suicide note, said the 1988-batch Indian Police Service officer took the extreme step 'out of frustration' due to his illness.
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