Violations of the act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
The ED also alleged that Karti had 'disposed' off a property in Gurugram and had 'closed certain bank accounts.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) attaching a residential flat worth Rs 1.54 crore in Mumbai's Worli, and 25 land parcels valued at Rs 2.67 crore in Dhutum village in Raigad district.
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
The I-T dept has issued 87 notices under section 24 of the said Act
The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act, it said.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23, the next date of hearing.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
77 bank accounts of suspended Madhya Pradesh IAS couple Arvind and Tinu Joshi have been frozen and their properties attached by the Income Tax authorities which claimed that cash and investments of over Rs 360 crore have been detected.
The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have intensified their investigations against Gaurav Mehta, a suspect in a Bitcoin Ponzi scam, following allegations that politicians may have been involved in using cryptocurrency to influence Maharashtra assembly polls. The ED searched Mehta's residence in Raipur and seized computers and digital devices. The CBI summoned him to appear before investigators. The ED is probing Mehta's potential links to politicians, politically exposed persons, and bureaucrats as part of its money laundering probe. The allegations came after BJP released purported voice notes suggesting that Congress and NCP leaders were attempting to use cryptocurrency for election campaigning. Both parties denied the claims, calling the voice notes fake.
The latest attachment order was issued by the central probe agency against Ms PD Agroprocessors Pvt Ltd, one the defaulters at the bourse.
The Enforcement Directorate (ED) on Wednesday told the Delhi high court that Chief Minister Arvind Kejriwal, arrested in a money laundering case linked with the alleged excise scam, cannot claim "immunity" from arrest on the ground of upcoming elections as law is applied equally to him and an aam aadmi.
Sebi has been given direct powers to freeze bank accounts, attach properties, conduct search and seizure and initiate recovery proceedings.
The terrorist who was identified as Mohammad Hussain Khateeb is a resident of Bhaderwah in Doda.
In a letter to the Mysuru Urban Development Authority commissioner she said she was allotted the 14 alternative sites in the third and fourth phase of Vijayanagar in Mysuru against the usage of her three acres and 16 Guntas of land in Kesare village under Kasaba Hobli in Mysuru.
According to new norms made in consultation with the Ministry of Law and Justice, a competent authority in concerned department can give authorisation to the Centre to attach properties or wealth of the accused employee acquired through corrupt practises after his retirement.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
Team Anna member Arvind Kejriwal did not comply with the income tax department notice asking him to pay over Rs 9 lakh in dues, saying he needed more time to decide on the issue as he was given "very little time".
The key risk factors would be anti-incumbency, small vote share swings causing large impact on outcomes and the 2004 example.
The high court asked the defendants to file their reply within two weeks of service of notice and listed the matter for August 22 before the joint registrar.
The action is in connection with its money laundering probe in the IRCTC hotel allotment scam case involving Rashtriya Janata Dal chief Lalu Prasad and his family.
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
Malik allegedly built an "illegal" madrasa in the Banbhoolpura area of Haldwani. Its demolition led to the violence in Banbhoolpura area of Haldwani on February 8.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
Court also questioned market regulator's lack of action.
Recently, Enforcement Directorate (ED) attached assets worth Rs 757.8 crore of Amway India Enterprises in connection with an alleged marketing scam. It claimed that Amway was running a multi-level marketing scam. The ED provisionally attached immovable and movable properties worth Rs 411.83 crore and bank balances of Rs 345.94 crore from 36 different accounts belonging to Amway. Data from the Department of Economic Affairs shows that in 2021-22 (until December 2021), ED had provisionally attached Rs 8,989.3 crore worth of assets.
The central probe agency has also issued a notice asking general public 'to furnish information and particulars of properties, both movable and immovable as well as bank accounts, in the state of West Bengal and other places, if any, related to Saradha group known to them, with specific details' to it.
The Nagarjuna group incorporated NFL as an NBFI and accepted fixed deposits with a minimum amount of Rs 5,000 for periods of 12, 24, 36 and 54 months by promising an interest rate of 14, 14.25, 15.5 and 18.5 per cent respectively. It collected deposits of Rs 98.3 crore from 85,160 depositors for the year 1997-98. Deposits of 16,122 depositors amounting to Rs 23.02 crore matured on December 31, 1999. But the company defaulted on repayment of the matured deposits.
A proclamation and property attachment notice was on Monday pasted at the house of Laddan Mian, a close associate of jailed ex-Rashtriya Janata Dal MP Mohammad Shahabuddin, in connection with the murder of a journalist in Siwan earlier this month.
While the concerned property may be confiscated, a person indulging in such a transaction is liable to pay a fine up to 25 per cent of fair market value of the property
The Supreme Court on Friday set aside a part of the Allahabad high court order concerning bail conditions imposed on Samajwadi Party MLA Azam Khan by which the district magistrate of Rampur was directed to take possession of land attached to the Jauhar University campus.
According to an ED order, the agency has seized movable and immovable properties of the firm -- Ms N K Proteins -- in Mumbai, Noida, Ahmedabad and Palanpur in Gujarat under the criminal provisions of the Prevention of Money Laundering Act.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
A special Prevention of Money Laundering Act court has issued orders for attachment of properties worth Rs 143.74 crore of YSR Congress party chief Jagan Mohan Reddy and his associates in a disproportionate assets case being probed by the Enforcement Directorate.
The curfew was imposed and the administration issued shoot-at-sight orders after stone-pelting incidents, torching of vehicles and a mob surrounded the local police station following the anti-encroachment drive.
The case pertains to alleged financial irregularities in supply of high-altitude tents worth Rs 22 crore to intelligence agency Research and Analysis Wing during 2009-13.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
National Investigation Agency officials seized Mushtaq Ahmad Zargar's home in Srinagar on Thursday, March 2, 2023. On December 31, 1999, Zargar was released along with Jaish e Mohammed founder Masood Azhar and the British terrorist Omar Saeed Shaikh in exchange for the passengers and crew on board IC-814, the Indian Airlines flight hijacked from Kathmandu and flown to Kandahar in Afghanistan.
