A special court in Mumbai on Wednesday refused bail to former Maharashtra minister Nawab Malik in an alleged money laundering case linked to a land deal in which fugitive gangster Dawood Ibrahim and his aides were involved.
The Securities and Exchange Board of India (Sebi) has notified stricter timelines of just seven working days for foreign portfolio investors (FPIs) to disclose vital information. This could include informing their custodians about any false or misleading information about the fund or disclosing any change in structure or common ownership, or control of the investor group. The new changes have been brought into effect from March 14 through a notification amending the Sebi (FPIs) Regulations.
'He was the best court craftsman that I have ever seen who could modulate his arguments in accordance with the judge and the mood.'
Kavitha Kalvakuntla, 44, a Bharat Rashtra Samiti MLC, declared this in a late-night post on her official Twitter handle.
The Enforcement Directorate has alleged that this is a bigger bank scam in volume than that of the Punjab National Bank fraud by fugitive diamantaires Nirav Modi and Mehul Choksi, as it involves fraud to the tune of about Rs 16,000 crore.
Amid a political crisis in Jharkhand, Jharkhand Mukti Morcha legislative party leader Champai Soren on Wednesday called on Governor C P Radhakrishnan and urged him to accept his claim to form the government at the earliest.
Jharkhand Mukti Morcha leader Hemant Soren, who had to step down as Jharkhand chief minister in the face of his imminent arrest, on Thursday accused the Enforcement Directorate of arresting him as part of a 'well-orchestrated conspiracy' by the Centre ahead of the Lok Sabha elections due months from now.
Jharkhand Chief Minister Hemant Soren on Thursday said he will attend the inauguration of the Ram temple at Ayodhya in January if he is invited to the programme.
In a massive setback to Delhi Chief Minister Arvind Kejriwal, the Delhi high court on Tuesday dismissed his petition challenging his arrest in a money laundering case stemming from the alleged excise scam, saying there was no contravention of legal provisions.
He was first called by the federal agency to appear on November 2, but he did not depose alleging that the notice was "vague, motivated and unsustainable in law".
The Supreme Court on Monday refused to interfere with the Delhi high court verdict granting bail to former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping of National Stock Exchange (NSE) employees.
The Congress leader is also being probed by ED in two separate money-laundering cases of Aircel-Maxis and INX Media.
The 61-year-old MLA from Islampur seat of Maharashtra was issued the first summons for appearance on May 12 but he had sought deferment for about 10 days citing some personal and official engagements.
The legislator was taken into custody under provisions of the Prevention of Money Laundering Act after he was detained by agency officials from a public meeting he was holding in Malerkotla, they said.
The court also rebuked the prosecuting agency, Enforcement Directorate (ED), for not taking Malik to the doctor who has been treating his condition since the beginning.
The Enforcement Directorate (ED) on Wednesday produced WhatsApp chat records between former Jharkhand chief minister Hemant Soren and a close associate where information related to transfer and posting of state government officials involving 'huge amount of money' is alleged to have been discussed.
A special court in Mumbai has said that Shiv Sena MP Sanjay Raut dealt with some "unaccounted money" for purchasing plots at Kihim near Alibag in Raigad district, but the same cannot be "thrown in the stock of proceeds of crime (POC) under the provisions of the Prevention of Money Laundering Act (PMLA)".
The Enforcement Directorate (ED) on Wednesday challenged the anticipatory bail granted to Robert Vadra, the son-in-law of former Congress president Sonia Gandhi, in a money laundering case, claiming non-compliance with bail conditions.
The agency wants to question and record his statement under the Prevention of Money Laundering Act.
Kalpana said her husband is not with the family on their wedding anniversary but she will not be emotional as he will "defeat conspiracy and emerge as a winner".
Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
The Supreme Court on Wednesday asked the Enforcement Directorate (ED) to explain why the political party (Aam Aadmi Party) which was allegedly the beneficiary of the Delhi Excise Policy 'scam', has not been made an accused in the money laundering case.
A dozen land parcels in Ranchi measuring about 8.5 acres in total are in 'illegal possession, occupation and use' of arrested former Jharkhand chief minister Hemant Soren and are proceeds of crime under the anti-money laundering law, the Enforcement Directorate has claimed.
The agency had in October arrested Sameer Vishnoi, an IAS officer of the state, and two others, after conducting several raids in the case.
The Supreme Court on Monday agreed to list a plea seeking review of its order upholding the Enforcement Directorate's powers related to arrest, attachment of property involved in money laundering, search and seizure under the Prevention of Money Laundering Act.
Grover had said a summons was issued by the special court in Ghaziabad against Ayyub for January 27 and therefore the matter be listed urgently.
The Supreme Court on Wednesday agreed to hear on March 24 a plea by K Kavitha, Bharat Rashtra Samithi leader and daughter of Telangana Chief Minister K Chandrasekhar Rao, seeking protection from arrest and challenging the summons by the Enforcement Directorate in a money laundering case arising out of the alleged Delhi excise policy scam.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
The Enforcement Directorate (ED)'s plea seeking cancellation of bail granted to Shiv Sena (Uddhav Balasaheb Thackeray) MP Sanjay Raut by a special court in a money laundering case could not be heard by the Bombay high court on Thursday due to paucity of time.
The ED said Das stated that his first statement given to the agency on November 3 last year in which he cited Baghel's name was "true and correct".
Kejriwal (55) has been issued the summons under the Prevention of Money Laundering Act and according to the sources, the agency will record his statement once he deposes before the investigating officer of the case in Delhi.
Seventy-seven MLAs were present in the assembly during the voting.
The Delhi Police, in a first information report (FIR) filed under anti-terror law Unlawful Activities (Prevention) Act (UAPA) following allegations against news portal NewsClick, has alleged that a large amount of funds came from China in order to disrupt India's sovereignty and cause disaffection against the country.
The Enforcement Directorate on Wednesday morning raided the premises of Aam Aadmi Party MP Sanjay Singh in connection with the Delhi excise policy-linked money laundering case, officials said.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
The agency seized a Haryana-registered BMW car from Soren's residence apart from some documents recovered by them during the search conducted at the house, sources said.
Speaking two days after his release on bail in a case under the Prevention of Money Laundering Act, he also said a joint parliamentary committee should look into all such cases.
A bench headed by Chief Justice N V Ramana took note of the submissions of senior lawyer Kapil Sibal, appearing for the NCP leader, and asked him to provide documents to the bench.
The court passed the order after taking cognisance of a charge sheet filed by the Enforcement Directorate (ED) under Prevention of Money Laundering Act (PMLA).
Raghav Magunta was taken into custody under the Prevention of Money Laundering Act (PMLA) on Friday evening, they said.
