The Enforcement Directorate on Friday conducted multiple raids in connection with its money laundering probe into the alleged irregularities in the National Stock Exchange (NSE) co-location case, officials said. The central probe agency is covering nine premises in Delhi and neighbouring Gurugram including those of some brokers involved in the case, they said. The raids are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA).
Former Jharkhand Chief Minister Madhu Koda, who failed to appear before the Enforcement Directorate on Thursday, has sought time for his appearance, saying his documents are not ready. Koda, along with his associates, has been accused of being involved in a Rs 2000-crore hawala scam.According to one of his advocates, Koda has sought time as some of his documents, wanted by the ED, were either with the Income Tax Department or with the State Vigilance Department.
The Income Tax department and Enforcement Directorate have been asked by the government to pull up their socks and expedite disposal of cases related to terror financing in various parts of the country.
The Enforcement Directorate has questioned Yash Birla, Chairman of Yash Birla Group, in connection with certain overseas financial transactions, officials in the central agency said on Monday.
It has also attached fresh 66 banks accounts, holding deposits of Rs 80.07 crore, of the Gitanjali group, owned by Modi's uncle Mehul Choksi.
Raj Kundra's stake in the franchise is legally questionable. The Income Tax department and Enforcement Directorate the two agencies investigating the Indian Premier League franchisees -- have come across a web of transactions that violated FIPB and RBI guidelines.
Official sources said on Wednesday, that the "source probe" commenced after a controversy broke out this week over the share holding patterns of the a consortium led by Rendezvous which bagged IPL's Kochi franchise. The probe is only to determine the source of funds though there is no specific input that fuelled suspicions, the sources said.
A team of investigators from the Income Tax Department spent Tuesday at the residence of former Jharkhand Chief Minister Madhu Koda, sifting through his papers and questioning him about an alleged Rs 2,000 crore hawala transaction case. The Enforcement Directorate has also begun action against him in New Delhi.The department has asked its officers in Ranchi to bring a list of the seizures and records of statements of his associates, which will be put across to Koda.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
The agency had in October arrested Sameer Vishnoi, an IAS officer of the state, and two others, after conducting several raids in the case.
Raninder Singh has been asked to depose at the central probe agency's office in Jalandhar on October 27, they said.
Rashtriya Janata Dal chief Lalu Prasad on Monday declined to comment on the ongoing probe into the alleged hawala transactions and investments involving former Jharkhand chief minister Madhu Koda. "I will not comment as the topmost investigating agencies, the Enforcement Directorate and the Income Tax Department, are conducting their probe. The media should not be a police officer nor is it competent (to reach conclusions)," Prasad told reporters.
Former Jharkhand Chief Minister Madhu Koda, against whom the Enforcement Directorate and the Income Tax Department are investigating money laundering charges, will not be discharged from hospital on Saturday, as he has an upset stomach. Koda got himself admitted to the hospital on complaints of stomach pain on November 3, after the launch of Income Tax raids on his residence in connection with alleged hawala transactions and illegal investments, amounting to Rs 2000 crore.
The searches, which began at 9:30 am, were carried out after the Enforcement Directorate registered a case against 38-year-old Koda for alleged money laundering and diversion of state funds.
Regulator finds broker trading through conduits; 26 entities barred from market.
Even as the Income Tax department is probing the financial dealings of the money-spinning Indian Premier League, the Enforcement Directorate (ED) will look into the alleged murky international deals of the Twenty20 tournament. Official sources said the Mumbai wing of the ED had conducted a discreet inquiry into the finances of Rajasthan Royals in 2008 and had prepared a report of alleged Foreign Exchange Management Act (FEMA) violations.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
Amid charges of black money playing a part in the IPL, Sports Ministry has asked the Finance Ministry to order an expeditious probe into it.
In two months, as many as 25 complaints have been sent to Enforcement Directorate, Competition Commission of India, Reserve Bank of India and income tax department, beside various state agencies, to thwart the deal.
It is expected that her statement will be recorded under the Prevention of Money Laundering Act and she would be confronted with documents and statements made by Shivakumar with regard to a trip to Singapore he made with his daughter in 2017.
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
Once again, tax demands on foreign investors cause worry.
The Apex Court has asked the minister and the two agencies to respond to the notice within the next ten days.
Gehlot, whose government had faced a rebellion led by his former deputy Sachin Pilot in 2020, said he has adopted the policy of "forgive and forget" and has moved on. He asserted that he has not opposed grant of any party tickets to Pilot's supporters.
A bench comprising Justices R F Nariman and S Ravindra Bhat rejected the request of the Solicitor General, appearing for the Enforcement Directorate, to issue a notice to the other side on the appeal.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
Senior advocate Prashant Bhushan, who appeared for the petitioners in the court, said at least 30 shell companies purchased electoral bonds worth over Rs 143 crore.
Karnataka Congress president D K Shivakumar on Wednesday said he has been asked by the Enforcement Directorate to appear before it on February 22, while his daughter has been served notice by the Central Bureau of Investigation.
The NCP also asked the Income Tax department and the Enforcement Directorate to find out the source of "black money" involved.
The federal probe agency has also called for documents and the recording of statements of some company executives under provisions of the FEMA, they said.
The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation.
The Income Tax Department detected bogus expenditure claims and alleged transfer of share capitals worth crores of rupees through shell companies after it recently raided some entities in Karnataka and Uttar Pradesh, including people linked to the Samajwadi Party.
ED officials said that Subhash was produced before a special PMLA court on Sunday morning and was sent to judicial custody.
The IAS officer was later taken into custody under the provisions of the Prevention of Money Laundering Act and is expected to be produced before a magistrate seeking his remand, the sources said.
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar Pradesh, Meghalaya, Maharashtra and others. The agency is conducting searches at 44 places related to Vivo and associated companies, they said.
The Income Tax department has sent a detailed questionnaire to about 50 individuals and entities figuring in the list of those allegedly holding offshore assets in tax havens.
Leaders of the Indian National Developmental Inclusive Alliance (INDIA) have decided to raise the NEET issue in both houses of Parliament on Friday and members will give notices in this regard, sources have said.
Prime Minister Narendra Modi and Rajasthan Chief Minister Ashok Gehlot on Thursday exchanged jibes over the red diary that a sacked state minister claims records financial misdeeds of the CM and his colleagues.
