Page 3 - Enforcement Directorate

Court reserves verdict on ED plea seeking extension of Sisodia's custody

A court here on Friday reserved its order on an Enforcement Directorate plea seeking the custody of AAP leader Manish Sisodia, who has been arrested in a money laundering case related to the Delhi excise policy, for seven more days. Sisodia was produced before special judge M K Nagpal, who will announce the order on the extension of the former Delhi deputy chief minister's custody shortly. Heavy security deployment was made inside and outside the Rouse Avenue Court premises. The ED told the court that crucial information had come up during Sisodia's custody and he had to confronted with other accused persons. It said voluminous data from Sisodia's email and mobile, etc. is also being forensically analysed. Opposing the federal probe agency's plea, Sisodia's lawyer said there is not a whisper from the agency regarding the proceeds of the crime, which is fundamental to the case. He further said there is no justification for the extension of custody and Sisodia was confronted only w

Chinese loan app case: Razorpay, fintech cos, NBFCs named in ED chargesheet

The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people. The federal probe agency said in a statement that the special Prevention of Money Laundering Act (PMLA) court based in Bengaluru has taken cognisance of the prosecution complaint (chargesheet). A total of seven entities and five individuals have been named as accused in the charge sheet. The accused entities include fintech companies Mad Elephant Network Technology Private Limited, Baryonyx Technology Private Limited and Cloud Atlas Future Technology Private Limited which are "controlled" by the Chinese nationals and three non-banking financial companies (NBFCs) registered with RBI named X10 Financial Services Private Limited, Track Fin-ed Private Limited and Jamnadas Morarjee Finance Private ...

Crypto under PMLA: CoinDCX registers itself as reporting entity with FIU

As per the Prevention of Money Laundering Act (PMLA), 2002, a reporting entity is required to conduct KYC verification of the customers and maintain their records

ED knocks at the door of Franklin Templeton execs, conducts searches

Sebi in 2021 barred firm from launching new debt schemes for violating norms in winding up of 6 debt schemes

Delhi excise policy case: BRS MLC K Kavitha to skip ED probe today

K. Kavitha, the daughter of Telangana CM K. Chandrasekhar Rao, who was all set to join the investigation of ED in connection with Delhi excise policy scam case, is likely to skip the summon

Money laundering: ED data shows only 2.98% cases against MPs/MLAs

The Enforcement Directorate (ED) has said that only 2.98 per cent of its overall ECIRs or complaints have been filed against serving or former MPs and MLAs even as its conviction rate under the anti-money laundering law is at a high of 96 per cent. The federal probe agency has published an updated data of its action under the three laws it implements-- the Prevention of Money Laundering Act (PMLA), the Foreign Exchange Management Act (FEMA) and the Fugitive Economic Offenders Act (FEOA)-- till January 31, 2023. The ED was entrusted with enforcing the stringent provisions of the PMLA, enacted in 2002, from July 1, 2005. The law empowers the agency to summon, arrest, attach the assets of the accused at the investigation stage and prosecute the offenders before a court of law. The data said the ED filed a total of 176 Enforcement Case Information Reports (ECIRs), equivalent to a police FIR, against existing and ex MPs, MLAs and MLCs which comes to 2.98 percentage of the total 5,906 suc

ED conducts searches at Franklin Templeton offices in Mumbai, Chennai

The Enforcement Directorate is conducting searches at some places linked to asset manager Franklin Templeton and its former and current executives in Mumbai and Chennai as part of a money laundering investigation, officials said. The federal agency is looking to gather more evidence as part of its investigation against the company and its promoters under the Prevention of Money Laundering Act (PMLA), they said. In November 2020, capital markets regulator Sebi issued a show-cause notice to the company following its April 2020 decision to wind up six debt schemes having Rs 25,000 crore of assets under management (AUM) from 3 lakh investors, citing liquidity challenges because of the pandemic. Eventually, the company was asked to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and was banned from launching new debt schemes for alleged irregularities in running the six debt schemes. The Chennai police economic offences

Delhi excise policy scam: Kavitha to appear for questioning before ED today

BRS MLC K. Kavitha is scheduled to appear before the Enforcement Directorate (ED) on Thursday in connection with the central agency's probe into the Delhi Excise Policy scam case

LS, RS face disruptions, oppn to intensify pressure over Adani, Rahul row

Opposition parties sought to build pressure on their demand and embarked on a protest march to Enforcement Directorate (ED) office

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Oppn writes to ED for probe against Adani after cops block protest march

Cops cut short protest march to ED office

Only 3% PMLA cases have been against politicians: Enforcement Directorate

Probe agency registered 5,906 cases under the criminal from 2005 till Jan 2023, its data shows

Oppn leaders stopped by Delhi Police on way to ED office over Adani issue

Delhi Police on Wednesday erected barricades and stopped leaders of several opposition parties marching towards the ED office here from Parliament House demanding a JPC probe into the Adani issue, saying prohibitory orders under Section 144 of the CrPC were in place in the area. The opposition leaders were stopped near Vijay Chowk in Lutyens' Delhi. Police made regular announcements using loudspeakers and urged the protesting MPs to vacate the area as CrPC Section 144, which prohibits the assembly of four or more people in an area, was in effect. When the leaders could not move past the barricade, they called off their march and returned to Parliament House. A senior police officer said earlier in the day that the police had made adequate security arrangements outside the ED office in view of the protest march. The leaders wanted to hand over a complaint to the Enforcement Directorate on the Adani-Hindenburg issue. Before starting their march, the leaders met in the office of Lea

Adani issue: Oppn writes to ED, says agency can't abdicate its jurisdiction

Leaders of several opposition parties on Wednesday urged the Enforcement Directorate (ED) to initiate an investigation into the Adani Group over allegations of corrupt practices, including money laundering through shell companies. In a letter emailed to the ED Director S K Mishra, the parties told the probe agency that "it cannot turn around and abdicate its jurisdiction". The letter as signed by leaders of the Congress, CPI, CPI-M, JDU, SS (UBT), RJD, DMK, JMM, AAP, IUML, VCK, Kerala Congress and others. Leaders of several opposition parties were stopped by the police at Vijay Chowk here as they took out a protest march from Parliament House to hand over a complaint to the Enforcement Directorate on the Adani issue. In their letter to the ED, the opposition leaders said, "We are acutely aware of how in the recent past, the ED has also zealously pursued cases of alleged political favouritism, including sharing concurrent jurisdiction with SEBI and CBI. We are also aware of the limi

Probe in Adani issue: Opposition stages march from Parliament to ED office

The parties, led by Congress, demanded authorities to hand over the complaint to the probe agency on the Adani issue

Delhi excise policy scam case: K Kavitha's ex-auditor joins ED probe

Buchchi Babu on Wednesday joined the Enforcement Directorate's probe

Delhi excise scam: SC to hear K Kavitha's plea on ED summons on March 24

The Supreme Court on Wednesday agreed to hear on March 24 a plea by K Kavitha, Bharat Rashtra Samithi leader and daughter of Telangana Chief Minister K Chandrasekhar Rao, seeking protection from arrest and challenging the summons by the Enforcement Directorate in a money laundering case arising out of the alleged Delhi excise policy scam. A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha took note of the submissions by Kavitha, who is also a member of legislative council (MLC), and agreed to hear the plea on March 24. On March 11, the 44-year-old BRS leader deposed before the ED to record her statement and was summoned again on March 16 for questioning. "Can a woman be called to the office of the Enforcement Directorate? her lawyer said while seeking an urgent hearing of the plea. It is "completely against the law", the lawyer said. As per official sources, Kavitha, during the nine hours she spent at the ED office last week, was confronted with the stateme

West Bengal teachers' recruitment scam: ED arrests TMC's Santanu Banerjee

Trinamool Congress (TMC) youthwing leader Santanu Banerjee was arrested by Enforcement Directorate (ED) in connection with the teachers' recruitment scam and was produced before the Special Court (PMLA) in Kolkata, which remanded him to the ED custody till March 24."Santanu Banerjee was acting as a conduit to facilitate the illegal qualification and appointments of primary teachers, Group 'C' & 'D' staff of schools of the government of West Bengal in lieu of money. Banerjee was in cahoots with (another TMC youthwing leader) Kuntal Ghosh, who is presently in judicial custody for the said illegal activities," the ED said in a statement.The ED, in an official release, said Santanu Banerjee also purchased a number of properties in the name of his family members and companies/firms with the said proceeds of crime.ED had earlier arrested Partha Chatterjee, TMC MLA and former Education minister, his aide Arpita Mukherjee, minister and TMC MLA Manik Bhattacharya, and Kuntal Ghosh in the

ED arrests four in Andhra govt's 'Siemens Project' money laundering case

The official said that all the accused were presented at a Special PMLA Court in Visakhapatnam which remanded them to seven days' custodial remand

Enforcement Directorate freezes over Rs 120cr in illegal forex trading case

The ED said that a total of 180 accounts were found involved in the layering of funds received from investors in the name of forex trading on TP Global FX platform