The agency, which placed the senior Nationalist Congress Party leader under arrest last night after a marathon grilling session on Monday, will seek his custody for further interrogation.
The 82-year-old former Jammu and Kashmir chief minister received the ED summons a day after the formation of the People's Alliance led by him was announced on October 15.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
'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.
A day after NCP leader Samir Bhujbal was arrested by the ED, party chief Sharad Pawar said he has not seen such "blatant misuse of power" in last 40 years.
Former telecom minister A Raja, Dravida Munnetra Kazhagam MP Kanimozhi and 17 others were on Friday chargesheeted by the Enforcement Directorate in a special court in connection with a money-laundering case relating to the 2G spectrum allocation scam in which the party-run Kalaignar TV was allegedly paid Rs 200 crore by the promoters of Swan Telecom.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
'Individuals have been found providing money to major terrorist groups, Hurriyat leaders, separatists and stone-pelters in Jammu and Kashmir.'
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL. FRL contended before a bench of Chief Justice D N Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it's more than 25,000 employees would be without any livelihood. Senior advocate Harish Salve, appearing for FRL, told the court that the US-based e-commerce giant was only concerned that the Mukesh Ambani group company should not get the shops as they are a competitor of Amazon.
A local Mumbai court on Tuesday remanded the senior Nationalist Congress Party leader and former Maharashtra Public Works Department Minister Chhagan Bhujbal in the custody of Enforcement Directorate till March 17, a day after he was arrested in a money laundering case in connection with the Maharashtra Sadan scam.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
ED lawyer Hiten Venegaonkar contended that huge amount of money was laundered and Shah's acts constituted a very serious economic offence
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. "As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt," Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the high court. "I have to decide if there is a real prospect of payment of petition debt in full within a reasonable period of time... there is insufficient evidence that [Mallya's asset realisations in India] will pay the debt in full within a reasonable period of time," Judge Briggs noted, in reference to defence arguments pointing to a restoration process in India following a Prevention of Money Laundering Act (PMLA) court order for the attachment of Mallya's assets.
The Enforcement Directorate on Friday slapped a money laundering case against former Indian Air Force chief SP Tyagi and 20 others in the Rs 3,600-crore AgustaWestland VVIP chopper deal to probe alleged kickbacks of Rs.360 crore.
Shortly after arrest, BJP state headquarters in Kolkata was attacked allegedly by members of TMC student wing.
'Information trickled in that these phone numbers were switched off when there were blasts in Jaipur, Ahmedabad, and at the time of the Delhi blasts.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
In the matter pertaining to acquisition of AgustaWestland helicopters, the undisputed central issue that stands out is corruption, especially bribery, the statement said.
Finance Minister Piyush Goyal said the instances of people running away and evading the legal process was increasing and this needed to be stopped, as the current laws do not allow fully dealing with the severity of the problem.
The street-fighter attitude is what keeps Rane going even at 69. The expectation is -- at least in the BJP camp -- that he will be itching for a battle royale with the Shiv Sena in its bastions.
The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Such measures are expected to further enhance the protection of investors in the securities market
A group of four-five 'Nihangs' (Sikhs armed with traditional weapons and dressed in loose blue top) were travelling in a vehicle and they were asked to stop at a vegetable market by the Mandi board officials at around 6.15 am, police said.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
The 'Indian story' will be badly damaged if the Modi government is not re-elected, argues investment banker Christopher Wood.
At present, Sebi norms bar wilful defaulters from issuing convertible debt instruments.
Analysts say the Sun Network's fundamentals may be sound but the troubles faced by Maran have caused a lot of volatility.
The Tamil chief minister suffered a heart attack on Sunday evening.
'We have to rise over our divisions.' 'Divisions within us allow unscrupulous politicians to divert attention from issues like corruption and governance.'
In a strongly worded legal notice to FabIndia Chief Executive Officer Viney Singh, KVIC's director (legal affairs), noted that the organisation was continuing to sell its garments in the name and style of Khadi despite earlier warnings by KVIC and assurances by FabIndia that it will not continue do so.
Altaf Ahmed Lal, country head of the US Food and Drug Administration (US FDA) in India, has quit and so have a few other key officials at the American drug regulator's India office.
With the home ministry rejecting the renewal of broadcast licences to Sun group, is it end of the road for Maran brothers? R Ramasubramanian reports from Chennai.
The agency has registered a case against Roy, his wife Radhika and RRPR Holdings for allegedly causing losses of Rs 48 crore to ICICI Bank, CBI sources said.
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
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