ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
A day after Nationalist Congress Party leader Samir Bhujbal was arrested by the Enforcement Directorate in a money laundering case, the former member of Parliament was on Tuesday sent to the agency's custody until February 8 by a special PMLA court in Mumbai.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
A special court on Tuesday issued an order allowing the Enforcement Directorate (ED) to begin extradition proceedings against former IPL chairman Lalit Modi in connection with its money laundering probe against him and others.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
The court asked the jail authorities to give proper medical help to Bhujbal in jail and take him to nearest government hospital whenever he requires attention.
They added that Vadra was expected to join the probe again on Friday.
Money laundering is punishable under the provisions of PMLA.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
During the arguments on the bail pleas, ED had argued that the accused had committed the offence of money laundering punishable under provisions of PMLA.
The agency said that since all the applicants, except one, were public banks, the money sought to be recovered was public money, restoration of assets in their favour was in public interest.
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.
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
Shivakumar's lawyers Abhishek Manu Singhvi and Dayan Krishnan opposed the ED's plea for custodial interrogation saying that he had joined the probe and never absconded.
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
Ratul Puri, already under probe scanner of the agency in the AgustaWestland VVIP chopper case, has been arrested by the Enforcement Directorate in connection with a Rs 354 crore bank loan fraud case.
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
The MHA said all the "glossy statements" about humanitarian work and speaking truth to power are nothing but a "ploy to divert attention" from their activities which were in clear contravention of laid down Indian laws.
Enforcement Directorate on Friday recorded the statement of jailed YSR Congress chief Jaganmohan Reddy in Chanchalguda prison, where he is lodged currently.
Banks will also have to seek borrower's status report from Central Economic Intelligence Bureau on the account turning NPA
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
"You cannot play hide and seek with the court," Justice Suresh Kait said.
The disclosures will enjoy immunity from wealth tax, civil and other taxation laws but there will be no immunity from FEMA, PMLA, narcotics and black money laws.
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.
Official is accused of taking a bribe of Rs 2 cr to issue order in an appeal favouring Balaji Trust
The ED had filed the first chargesheet in the case against Chidambaram's son Karti; later, a supplementary chargesheet was also filed against him.
According to an ED official, the arrest of the former Public Works Department minister was affected under the provisions of the Prevention of Money Laundering Act after he allegedly refused to cooperate during the questioning.
The Enforcement Directorate on Saturday questioned Kalaignar TV MD Sharad Kumar in connection with its probe into his role in the alleged financial irregularities in the 2G spectrum allocation case.
The businessman has been grilled in this case four times in the past, the last being February 20.
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
The chargesheet said according to the 'budget sheet, 30 million were paid to Air Force officers.
The NSEL scam, involving Rs 5,600 crore, came to light after the now defunct exchange, promoted by Financial Technologies, failed to pay its investors.
It is understood that Vijay Mallya left the country for UK on March 2 using a diplomatic passport issued to him by virtue of him being a sitting Rajya Sabha Member of Parliament.
According to a complaint from Bank of Baroda, the conspirators allegedly cheated a consortium of bank loans of Rs 3,695 crore. The scam was earlier estimated at around Rs 800 crore.
In the first such case, four traders engaged in business across the Line of Control in Jammu and Kashmir have been booked by Enforcement Directorate in connection with alleged hawala racket for Lashkar-e-Tayiba terror outfit.
The government has initiated the process to safeguard buyers from online frauds.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
The ED had conducted searches on at least nine premises, including properties and offices, belonging to the senior Bhujbal, Pankaj, nephew Samir and few others.
The Directorate, which is probing charges of huge illegal investments and hawala transactions against Koda and his associates, got an approval order from the adjudicating authority under the Prevention of Money Laundering (PMLA) Act in New Delhi.
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