The Enforcement Directorate (ED) has earmarked assets worth about Rs 15,000 crore that will be restored to victims of real estate, Ponzi and other frauds across India during the current financial year. The agency has been "aggressively" initiating this provision for restitution since last year to ensure rightful claimants duped by financial crime get their dues. The ED has already restored Rs 31,951 crore worth of assets under this provision, including Rs 15,201.65 crore from 2019-21 in cases related to Vijay Mallya, Nirav Modi and the National Spot Exchange Limited (NSEL). The ED Director has issued directions to all regions to actively work on cases marked for restitution of assets worth Rs 15,000 crore during the financial year 2025-26.
Black money to the tune of "Rs 1.25 lakh crore" has been confiscated by the Modi government, Union Minister Ashwini Vaishnaw said on Monday and asserted transparency is a key aspect of the present dispensation's good governance model. The minister for railways said similarly, to ensure transparency, benami properties worth Rs 4,300 crore were attached and registration of 1.75 lakh companies cancelled. Talking to reporters at the Rail Bhawan, Vaishnaw said in his long public service, Prime Minister Narendra Modi has "perfected a model of good governance that started in Gujarat".
The Interpol has issued its first Silver notice, at India's request, to track the global assets of former French Embassy officer Shubham Shokeen, who is wanted in connection with a visa fraud. The Silver notice, introduced in January this year, aims to track illicit assets across the globe. India is among 51 countries participating in the pilot project for the Silver notice, which will continue until November. The Interpol has issued two Silver notices on the CBI's request - one against Shokeen for allegedly facilitating Schengen visas for illegal gratification and another against Amit Madanlal Lakhanpal, who is wanted by the Enforcement Directorate for allegedly creating a cryptocurrency without permission and defrauding investors.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
In a recent operation, Bihar Police busted a fraudulent scheme operating under the guise of 'All India Pregnant Job Service', which deceived men with promises of substantial payments for impregnating childless women.
A Dhaka court has ordered the freezing of 31 bank accounts linked to ousted prime minister Sheikh Hasina, her family members and their associates over corruption allegations. The accounts, holding a total of Tk 394.6 crore (INR 281.2 crore approximately), belong to Hasina, her son Sajeeb Wazed Joy, daughter Saima Wazed Putul, sister Sheikh Rehana, nephew Radwan Mujib Siddiq Bobby and their related organizations. The Anti-Corruption Commission (ACC) claims Hasina and others are trying to transfer the money from these accounts, prompting the court to issue the freezing order.
Armed with sticks, they set ablaze thatched structures near a fishing yard in Belmajur area of Sandeshkhali, venting their fury against the elusive TMC leader Shahjahan Sheikh and his brother Siraj. The torched structure, it was revealed, belonged to Siraj.
Judge HA Mohan presiding over the additional city civil & sessions court held that the kin, J Deepa and J Deepak, were not entitled to the properties that have been confiscated by the state.
Allowing the Centre's review of the August 23, 2022 verdict, a bench Chief Justice of India DY Chandrachud, Justices PS Narasimha and Manoj Misra recalled the judgement delivered by a three-judge bench headed by former CJI NV Ramana.
In an email sent to some journalists and two videos accessed by PTI, Pannun compared Mann with former Punjab chief minister Beant Singh, who was assassinated in a bomb blast on August 31, 1995.
In the coming days, more properties of the Sisamau MLA will be seized, they said.
'The BJP lacks a credible mass leader who matches Mamata Banerjee's popularity.' 'Given the division of votes among Opposition parties, the West Bengal government's dole-giving strategy, and the consolidation of the poor, significant sections of scheduled caste groups and Muslim minorities behind the ruling party, it will be difficult to dislodge the Trinamool from power.'
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
A Pakistani court sentenced jailed former prime minister Imran Khan and his wife Bushra Bibi to 14 and 7 years in prison respectively after finding them guilty of corruption in the 190 million pounds al-Qadir Trust case. The verdict was announced in a makeshift court set up in Adila jail where Khan is currently lodged. Khan has been convicted for "corrupt practices" and "misuse of authority", while his wife has been convicted for "involvement in illegal activities". The court also ordered the confiscation of the land of Al-Qadir University set up by them. Supporters of Khan's Pakistan Tehreek-e-Insaf (PTI) party staged a protest outside Parliament House, demanding his release. Khan claims all cases against him were politically motivated.
The confiscation of properties of JuD and FIF comes after Pakistan formally placed them in the list of banned organisations on Tuesday.
After confiscating properties of corrupt officials, Bihar government has now confiscated properties of two middlemen who indulged in misappropriation of government funds, officials on Monday said.
Samajwadi Party leader Abdullah Azam on Sunday said the property given to the Rampur Nawabs for 'being loyal to the British' should be confiscated and that a movement in this connection will be launched soon.
Occupants were served eviction orders in April this year
The department of economic affairs is said to be in discussions with various probe agencies, including the income tax department and the Enforcement Directorate, and bankers in drafting the final rules.
After confiscating the assets of corrupt government officials in Bihar, the state government has decided to confiscate their property even outside the state, officials said on Thursday.
The official liquidator said it would be in public interest that these properties are restored to him so that the interest of all creditors, including the applicant banks, can be "safeguarded".
The Karnataka government on Wednesday decided to conduct an inquiry into the violence in parts of the city on Tuesday night, in which at least three people were killed and scores of others were injured, through a district magistrate.
Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the 10 years since 2014 compared to the preceding nine-year period, according to official data.
A United States court has sentenced an Indian-American couple to prison for coercing their relative to work at their gas station and convenience store for over three years by bringing him to the United States on the pretext of helping enrol him in a school.
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
About the 34-year-old officer's alleged misuse of power, including the use of a private luxury car with a VIP number plate and red-blue beacon, during her tenure at the Pune collector's office, Dilip said she had taken permission for everything.
The ARC has recommended that the Government should enact without further delay a bill on Corrupt Public Servants (Forfeiture of Property), which has also been suggested by the Law Commission.
A new political crisis is brewing in the VK Sasikala camp in Tamil Nadu -- differences between Chief Minister Edappadi Palaniswami and party general secretary Sasikala.
The authority said in its order that it believes that the movable assets and equity shares that were attached by the ED are proceeds of crime and linked to the offence of money laundering.
The properties overseas include two luxury hotels - one in New York and one in London - two residential apartments in London valued at 15 million each, and a yacht stationed in the UK. In India, Kapoor's six bungalows in Delhi's upscale localities, including Jor Bagh, Hauz Khas, and Kautilya Marg, were also identified.
The Enforcement Directorate (ED) has attached 8.86 acres of land in Ranchi allegedly owned by former Jharkhand chief minister Hemant Soren as part of a money laundering investigation against him and his associates, the federal agency said on Thursday.
The Supreme Court of India on Wednesday upheld the validity of certain provisions of the Prevention of Money Laundering Act (PMLA) and said it is not mandatory to give an Enforcement Case Information Report (ECIR) in every case to the person concerned.
The investigators are unable to join several dots due to lack of evidence from the crime scene.
Landa currently resides in Edmonton, the capital of Alberta in Canada, and is a member of Babbar Khalsa International.
Provisions in the bill, titled Karnataka Public Examination (Measures for Prevention of Corruption and Unfair Means in Recruitment) Bill, 2023, also include confiscation of property.
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.
Individual should be extra careful when taking money from parents or relatives to buy a property
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The agency made the disclosure in a chargesheet filed by it on May 10 against former Telangana chief minister and Bharat Rashtra Samithi leader K Chandrashekar Rao's MLC daughter K Kavitha and four others.
Diamantaire Mehul Choksi, a key accused in the multi-crore PNB scam, has told a special court in Mumbai that he hasn't been able to return to India "due to reasons beyond his control" and hence cannot be declared a "fugitive economic offender". The accused has claimed that he didn't leave India to avoid criminal prosecution nor is he refusing to return to the country. He said his passport has been suspended by Indian authorities.
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