The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
The Supreme Court has dismissed the bail plea of jailed former CMD of Amrapali Group of Companies Anil Kumar Sharma, saying he doesn't deserve "sympathy" after having siphoned off the hard-earned money and life savings of thousands of homebuyers. "You have cheated thousands of homebuyers. You siphoned off their hard-earned money and their life savings. You do not deserve any sympathy," a bench comprising Justices Ajay Rastogi and Bela M Trivedi said, and refused to issue notice to the prosecuting agency on the bail plea of Sharma who has been in jail for over four years in the case. "Yours is not a case of simple cheating. See the plight of thousands of home buyers. You cannot have our sympathy. You better enjoy being in jail... This court is very aware of what you did.
The court posted the matter for hearing on October 22.
The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case related to the alleged misappropriation of funds at Religare Finvest. A team of ED officials went to Tihar Jail and placed Singh under arrest as per the provisions of the Prevention of Money Laundering Act.
The court directed her to intimate to it as well as the Enforcement Directorate at least three days before leaving the country instead of taking prior permission.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
Sudhir Sachdeva, who runs a number of coaching institutes across Delhi, came armed with an anticipatory bail from the Orissa high court.
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.
Properties worth over Rs 150 crore of real estate firm Unitech Group have been attached in a money laundering case, the Enforcement Directorate (ED) said on Tuesday. The assets include a dozen of land pieces measuring a total of 48.56 acres in Gurgaon near Delhi.
The Supreme Court on Monday expressed unhappiness over alleged conman Sukesh Chandrashekhar repeatedly filling pleas, saying "affordability" is no reason to file multiple petitions.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
They have been booked under IPC sections 323 (punishment for voluntarily causing hurt), 341 (punishment for wrongful restraint) and 34 (acts done by several persons in furtherance of common intention), said a senior police officer.
Joint MD of the company Arun K Saha and MD of transportation network K Ramchand were arrested late evening in Mumbai under the Prevention of Money Laundering Act.
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.
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
On July 23, the apex court had cracked its whip on errant builders for breaching the trust reposed by homebuyers and ordered cancellation of the registration of Amrapali Group under the real estate law RERA, and ousted it from its prime properties in the NCR by nixing the land leases.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
The Tamil chief minister suffered a heart attack on Sunday evening.
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