The court said there is nothing on record to suggest that since 2023, Purkayastha was ever called to join the investigations.
In a pump and dump operation, fraudsters artificially inflate the price of a stock by spreading misleading or false information, creating a frenzy among unsuspecting retail investors.
The co-operative banking sector is well regulated, and a few cases of restrictions being imposed by the Reserve Bank of India (RBI) should not paint a negative picture of the entire sector, said Department of Economic Affairs (DEA) secretary Ajay Seth on Monday. "Co-operative banks in the country are generally quite robust, and the RBI takes regulatory action whenever issues arise.
The Enforcement Directorate said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged Rs 4,500 crore (Rs 45 billion) fraud by Pancard Clubs Limited and others, in which more than 5 million investors have been duped.
The EOW had registered a case against Pednekar and two senior officials of the Brihanmumbai Municipal Corporation (BMC) under various Indian Penal Code sections including 420 (cheating) and 120 (B) (criminal conspiracy), based on a complaint filed by BJP leader Kirit Somaiya.
Vaibhav Pandya has been charged with cheating and forgery.
Rakesh Wadhawan and his son Sarang Wadhawan, accused of loan default, have been arrested by the Economic Offences Wing.
Following detailed questioning, journalist Mahesh Langa was arrested by the Crime Branch on Tuesday morning, Deputy Commissioner of Police (Crime) Ajit Rajian said. "The central GST had found some suspicious transactions in bogus firms floated in the name of Mahesh Langa's wife and father using forged documents. Langa has been arrested for further investigation," he said.
The Enforcement Directorate (ED) faced criticism from the Supreme Court for filing a "half-baked" reply in a bail matter related to the Chhattisgarh liquor scam. The court expressed dissatisfaction with the situation, questioning the accountability of the ED and its advocate-on-record. The ED's additional solicitor general, S.V. Raju, attributed the error to a miscommunication and assured the court that a departmental inquiry would be initiated.
Vaibhav, 37, was arrested on April 8 on the charges of criminal breach of trust, criminal intimidation, criminal conspiracy, forgery and other relevant sections of the Indian Penal Code for allegedly cheating the cricketer brothers to the tune of more than Rs 4 crore.
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
'I don't know when I will be able to access those funds.'
The Lilavati Kirtilal Mehta Medical Trust (LKMMT), which runs Mumbai's Lilavati Hospital, has accused its former trustees and related individuals of misappropriating over Rs 1,500 crore. The trust has filed complaints with the Enforcement Directorate (ED) and the Bandra Police Station, alleging that the misappropriation, uncovered during a forensic audit, has impacted the trust's operations and healthcare services. The trust has also claimed that black magic was performed in the hospital premises by former trustees and related individuals. The Bandra Magistrate Court has ordered an inquiry against these individuals. The current trustees have identified large-scale irregularities in the hospital management body's affairs and appointed forensic auditors who found that over Rs 1,500 crore has been siphoned and misappropriated by the former trustees. The Mumbai police's Economic Offences Wing (EOW) has initiated a probe into an alleged cheating case of Rs 85 crore registered against three former trustees of the hospital.
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
Former president of Atlas Cycles Salil Kapoor allegedly died by suicide at his home in Lutyens' Delhi on Tuesday. In a purported suicide note recovered from the spot, he mentioned "financial burden" on him and harassment by four people, the police said, adding said they were investigating the matter from all possible angles.
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 complaint in this regard was filed by Kirit Somaiya in July, the police official added.
Fatehi was questioned at the Mandir Marg office of the EOW for hours on Friday.
A senior official of the Reserve bank of India has joined the Central Bureau of Investigation for providing the agency with financial management tips and inputs for investigating bank frauds and other economic offences.
The Supreme Court on Friday stayed the Bombay high court order directing sale of bankrupt Housing Development and Infrastructure Ltd (HDIL) to ensure the repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay high court order.
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by two persons in 2011.
The Delhi police has prepared a list of 100 odd questions that actor Jacqueline Fernandez has been asked to answer in the alleged Rs 200 crore scam.
Delhi-based electric vehicle (EV) ride-hailing firm Evera Cabs, which grabbed headlines after acquiring 500 cars from the now-defunct cab service BluSmart, is stepping up its presence in the EV cab segment. The company is aiming for revenue of Rs 100 crore in the ongoing financial year (2025-26), up from Rs 18 crore in 2024-25.
The Central Bureau of Investigation (CBI) has arrested two persons including a key accused in the National Eligibility cum Entrance Test-Undergraduate (NEET-UG) paper leak case who allegedly stole the paper from a National Testing Agency's trunk in Hazaribagh in Jharkhand, officials said Tuesday.
Telugu Desam Party chief Chandrababu Naidu was arrested in Nandyala, Andhra Pradesh on Saturday morning in a case of alleged corruption, the Andhra Pradesh Police said.
The actor was accompanied by Pinki Irani who allegedly introduced her to Chandrashekhar, a senior police officer said.
EOW's superintendent of police Devendra Singh Rajput told PTI that Singh was produced before the court after his arrest.
He was detained on the intervening night of Thursday and Friday in Ludhiana and was formally arrested on Friday morning after he was brought to New Delhi by a team of the Economic Offences Wing, Additional Commissioner of Police (EOW) O P Mishra said.
A local court in Mumbai has refused to close a cheating case against Bharatiya Janata Party leader Kirit Somaiya and his son, noting further probe was necessary as police have not investigated what was done with funds collected by them to save the decommissioned naval aircraft carried Vikrant.
The court will now decide whether to accept the report or direct the agency to continue the investigation and file a chargesheet.
The case is linked to an alleged fraud of over Rs 512 crore in a Panvel-based cooperative bank.
NCP MP Supriya Sule and other party leaders accompanied the 38-year-old legislator till the entrance of the probe agency's office.
The court had instructed the CID officials to virtually produce Naidu before it through the 'Blue Jeans' app by 5 PM today. The TDP chief was virtually not produced before the court on Saturday.
The investigation pertains to a case against Pranav Jewellers, a partnership firm based in Tiruchirapalli, whom the ED raided on November 20 and claimed to have seized "unexplained" cash of Rs 23.70 lakh and some gold jewellery.
The EOW stated in its closure report that it did not see any criminality or wrongdoing in the matter, adding that the bank in question did not suffer any losses in the process of sanctioning loans or selling the Jarandeshwar Sugar Mill.
Goa Cricket Association president Chetan Dessai, secretary Vinod Phadke and treasurer Akbar Mulla were today arrested by police for alleged misappropriation of over Rs three crore belonging to the organisation.
Alamgir Alam had distanced himself from the activities of Lal while speaking to reporters after the ED raids, pointing out that he had earlier served with other ministers of the state government too.
Sebi filed a criminal complaint against the brokers with the economic offences wing, which on Friday registered a case under the Forward Contract Regulation Act 1952.
A total of 161.30 acres of land, plant, machinery and building of the Kannad Sahakari Sakhar Karkhana Limited (Kannad SSK) located in Kannad village of Aurangabad district has been provisionally attached under the Prevention of Money Laundering Act (PMLA), the ED said in a statement.
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