The accused, Tapas Ghosh, 49, was arrested on Tuesday night. A Special Investigation Team (SIT) is looking into the matter under the supervision of DCP Vinita Sahu, said Nagpur commissioner of police (CP) Amitesh Kumar.
Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.
Does a woman forfeit her right to her parent's property because she converted from Hinduism to Islam?
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
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.
The next hearing on ED's application before the special court, seeking permission to start confiscation proceedings, is scheduled for April 8.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
The entire amount is to be provided for four quarters.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
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.
The case is linked to an alleged fraud of over Rs 512 crore in a Panvel-based cooperative bank.
The findings revealed the biggest threat to firms comes from within.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. The properties attached, under the anti-money laundering law, include a flat measuring 1,460 sq feet located at O2 Tower in Goregaon area of Mumbai, gold and platinum jewellery, diamond stones, necklaces made of silver and pearls, watches and a Mercedes Benz car, the ED said in a statement. A provisional order for attachment has been issued under the Prevention of Money Laundering Act (PMLA) for the assets worth a total Rs 14.45 crore that are in the name of Gitanjali Group of companies and its director Mehul Choksi, it said.
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.
If convicted, each defendant faces a maximum penalty of 30 years.
An Indian-American doctor has been sentenced to 15 years in prison by a United States court for committing health care fraud with his wife and has been ordered to forfeit over $ 43 million (Rs 196.21 crore) in cash and property gained through the fraud.
The Uniform Civil Code of Uttarakhand, 2024 bill also says that any child born of a live-in relationship shall be considered a legitimate child.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
Days after the fraud allegedly masterminded by diamantaire Nirav Modi came to light, the prime minister asked the management of financial institutions as well as the supervisory bodies to do their job diligently to check such frauds.
Displaying a washing machine on its press conference dais, the Congress on Saturday taunted the Bharatiya Janata Party over the Central Bureau of Investigation (CBI) filing a closure report in a 2017 corruption case against Nationalist Congress Party leader Praful Patel and said the ruling party's 'fully automatic washing machine' works on the principle -- 'join BJP, case closed'.
Satyam founder Ramalinga Raju admitted to a Rs 7,800-crore (Rs 78-billion) fraud in the IT company on January 7, weeks after a bid to acquire the two Maytas firms failed. Raju said that he had been cooking the books for years and the Maytas acquisition bid was an attempt to fill fictitious assets with real ones.
Sandeep Raut has been asked to depose before the central agency at its office in Mumbai next week, they said, adding his statement will be recorded under the Prevention of Money Laundering Act.
There can't be a parallel inquiry and parallel monitoring by the courts, Attorney General K K Venugopal told the court.
Unfazed by attack from various quarters, the Congress on Sunday justified the midnight crackdown on Baba Ramdev's fast against corruption and accused him of "inciting people" despite striking a deal with the government for ending his protest.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
The Telecommunications Bill, 2023, which was passed by a voice vote after a short debate, also allows the Centre to take possession of a telecom network in case of any public emergency or in the interest of public safety.
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
An FIR has been registered against Shivraj and his parents for allegedly duping a Mumbai businessman and his wife of Rs 13 crore (Rs 130 million) while he was out on bail.
Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the over $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, including Swiss bank deposits, the agency said on Thursday. Forty-nine-year-old Nirav Modi, who is currently lodged in a London jail, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) money laundering case since 2018. The diamond merchant's younger sister Purvi Modi (47) is a Belgian national while her husband Maiank Mehta is a British citizen. They are stated to be based abroad and have never joined the probe.
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
The special court on Monday rejected Kingfisher's plea challenging ED's claim that Rs 430 crore (Rs 4.3 billion) was siphoned off and used to acquire properties abroad.
The BJP chief said the ED and the CBI have taken prompt action in the Nirav Modi case.
'In many parts of the country, the empty nest-and-empty-nest egg story is a painful boom-to-bust saga.' 'Among the old and young, it is hitting pockets hard, in a linked chain of debt-laden banks, corrupt politicians and builder mafias and disastrous government policies,' says Sunil Sethi.
The probe, being conducted under various sections of the Prevention of Money Laundering Act, is against the Kallal Group and the UK-based Lyca group and its Indian companies Lyca Productions and Lyca Hotels, it said.
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.
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