Page 9 - Enforcement Directorate

ED attaches assets worth over Rs 205 cr of Chennai-based firm in PMLA case

The ED on Monday said it has attached assets worth more than Rs 205 crore of a Chennai-based chemicals manufacturing company and its promoters, days after the Madras High Court refused to entertain the firm's plea against the action initiated by the federal probe agency. The agency issued a provisional order under the Prevention of Money Laundering Act (PMLA) to attach the properties of MGM Maran, MGM Anand and their company Southern Agrifurane Industries Private Limited, it said in a statement. The total worth of the attached assets is Rs 205.36 crore. The probe against Maran, a former chairman of Tamilnad Mercantile Bank Limited (TMBL) during 2007, was initially launched by the Chennai Police's central crime branch following which the Enforcement Directorate (ED) registered a criminal case under sections of the PMLA. The police case was lodged on the basis of of a complaint from a private bank. Maran, along with other directors and officials of the TMBL, "facilitated a deal for t

ED seizes assets of Saravana Stores worth Rs 66 cr in money laundering case

The Enforcement Directorate said it has attached immovable properties of Saravana Stores in Chennai amounting to Rs 66.93 crore in connection with a money laundering case for defrauding Axis Bank

ED attaches Rs 55 cr worth of 'benami' land of DMK MP A Raja in Coimbatore

The Enforcement Directorate on Thursday said it has attached a "benami" asset worth Rs 55 crore of DMK MP A Raja -- 45 acres of land in Coimbatore district in Tamil Nadu -- under the anti-money laundering law. The federal agency said in a statement the land was purchased by a company allegedly linked to Raja, in lieu of granting environmental clearance to a Gurugram-based real estate company by the leader during his stint as the Union minister for environment and forests between 2004-07. The land is held in the name of a "benami" company of Raja, the Enforcement Directorate said. Benami means 'no name' or 'without name' and such properties are those in which the real beneficiary is not the one in whose name the property has been purchased. The 59-year-old Raja is currently a DMK MP from the Nilgiris Lok Sabha seat. The politician has been earlier in the cross hairs of the ED when his role was investigated and a charge sheet was filed against him by the agency in connection with it

ED seizes assets worth Rs 81 cr from Hisar-based firm in ponzi scheme case

The Enforcement Directorate (ED) said that it has attached movable and immovable properties worth Rs 81.7 crore related to Future Makers Lifecare Pvt Ltd, a Hisar-based company

Excise scam: Prominent people from south gave Rs 100 cr to AAP, says ED

Several prominent people from south-India had given kickbacks of around Rs 100 Cr to AAP government here in exchange of favours and undue benefits to them in the liquor business, the ED has alleged in its charge sheet filed before a city court in Delhi excise scam. The ED alleged in its charge sheet filed against businessman Sameer Mahendru and AAP's communication in-charge Vijay Nair had hatched a conspiracy with K Kavitha, MLC of Telangana, Magunta Srinivasulu Reddy (MSR), MP of Ongole (Andhra), his son Raghav Magunta, and Sarath Reddy, who are collectively called as South Group. Mahendru, in collusion with others, formed a cartel of retailer-wholesaler-manufacturer with Pernod Ricard, Benoy Babu, Vijay Nair, representative of AAP, Arun Pillai, K Kavitha, Magunta Srinivasulu Reddy (MSR), his son Raghav, Sarath Reddy, Abhishek Boinpally and Buchi Babu, it alleged, adding that the 'south group' was represented by Arun Pillai, Abhishek Boinpally and Buchi Babu. It added that Mahendru

Delhi loses Rs 2,873 cr, accused gains Rs 295 cr due to Liquor policy: ED

ED in its charge sheet filed in connection with the alleged Delhi excise policy scam, claimed that due to it, the government suffered a loss of Rs 2,873 crore

ED attaches Rs 213 cr worth 'proceeds of crime' related to money laundering

The Enforcement Directorate has attached Rs 212.91 crore proceeds of crime (PoC) in cases where online betting and gambling sites/apps were used for money laundering and hawala transactions, Parliament was informed on Tuesday. In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the Directorate of Enforcement is investigating several cases related to cyber crimes and crypto assets related frauds. In a few cases, it has been noticed that online betting and gambling sites/apps were used for money laundering and hawala transactions. "In these cases, as on December 16, 2022, PoC amounting to Rs 212.91 crores have been identified which stands attached / freezed / seized under the provisions of PMLA. Also, 03 Prosecution Complaints have been filed in these cases," he said. In reply to a separate question, the minister said the central government has constituted an Inter-Ministerial Task Force (IMTF) to look into all aspects of online gaming ...

Madras HC refuses to interfere with ED proceedings against agrifurane firm

A division bench of the Madras High Court has refused to interfere with the proceedings initiated by the Enforcement Directorate (ED) HERE against an agrifurane company here. The bench of Justices P N Prakash and N Anand Venkatesh upheld the proceedings on Monday while dismissing a writ petition from Southern Agrifurane Industries Private Limited, by its director Joseph Anand Muthu alias MGM Anand in Mylapore. The petition sought to restrain the ED from proceeding further in the case registered under the provisions of Prevention of Money Laundering Act (PMLA) by the agency. Petitioner contended that the registration of the case was without jurisdiction since the allegation of contravention of Foreign Exchange Management Act (FEMA) does not fall within the schedule to PML Act. Following a complaint from a private bank, a case under the FEMA was registered against the petitioner company on the allegation that it had sent foreign exchange abroad in violation of FEMA Rules and ...

BS BFSI Insight Summit 2022: RBI Deputy Guv M Rajeshwar Rao to speak

Rao looks after the Department of Regulation, the Department of Communication, the Enforcement Department, the Inspection Department, the Legal Department and the Risk Monitoring Department

ED attaches Rs 907 crore worth assets of crypto exchanges under PMLA

The Enforcement Directorate has attached proceeds of crime worth Rs 907 crore and arrested three persons in cases related to money laundering by crypto exchanges, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said Central GST officers have detected Goods and Services Tax (GST) evasion worth Rs 87.60 crore by 12 crypto exchanges. Recovery of Rs 110.97 crore, including interest and penalty, has been made. The minister said further investigation is under process in eight cases and four cases are closed on payment of tax along with interest and penalty. Further, in case of crypto exchange Zanmai Labs Pvt Ltd, known as WazirX, assets worth Rs 289.68 crore have been seized from the exchange and its Directors for violation of the provisions of the foreign exchange management act (FEMA), Chaudhary said. In a written reply to a question in the Lok Sabha, the minister said the Directorate of Enforcement is investigating several cases related to crypto .

ED, CBI, IT dept scared what order will come next from top, says Gehlot

Families below poverty line associated with the Ujjwala scheme that are not being able to afford refills would be given LPG cylinders for Rs 500 from April 1 in Rajasthan, Chief Minister Ashok Gehlot announced on Monday. Attacking the Narendra Modi government at the Centre, Gehlot alleged that democracy is being weakened in the country and institutions such as the judiciary, the Election Commission and probe agencies are working under fear. Addressing a rally during the Congress's "Bharat Jodo Yatra" here, the veteran leader said the entire country is reeling under unemployment and price rise and alleged that the economy is being destroyed and divisions are being created. "Democracy is being weakened. The judiciary, Election Commission, ED and CBI -- all are scared. No one knows in which direction the country will be taken," he said, accusing those in power of being fascists and dictatorial. Gehlot also alleged that those who criticise the Centre are being sent to jail. He said ..

Amid ED probe, Baghel says prepared for more such moves from Centre

Amid the probe by Enforcement Directorate in the alleged coal levy scam and the arrest of a few bureaucrats and businessmen, Chhattisgarh Chief Minister Bhupesh Baghel on Sunday called the action "vendetta politics" and said he was prepared for more such moves by the Centre. He also slammed the Bharatiya Janata Party-led Union government for not releasing funds to Chhattisgarh, adding he would not keep silent over such injustice to his state. In an interview to PTI, Baghel, who completed four years in office on December 17, said the schemes of his government were aimed at strengthening the rural economy and creating self employment but admitted there were several poll promises which are yet to be fulfilled. "We welcome action against corruption. But if the action is politically motivated then it is wrong. Whenever I campaigned in elections in other states, raids were conducted in Chhattisgarh by the central agencies," Baghel said. The ED has been probing a money laundering case lin

ED freezes funds worth over Rs 51 cr in mobile apps money laundering case

The Enforcement Directorate on Wednesday said it has frozen funds worth Rs 51.11 crore under the anti-money laundering law after raiding premises linked to a mobile app company that allegedly duped investors on the pretext of providing "very high" returns. The searches were carried out on December 9 at locations in Noida, Pune and Bengaluru in the case of "misuse" of Matrix Partners Fund (MPF) app and some other apps related to it. The money laundering case stems from a November 2021 FIR filed by the Meghalaya Police against entities/persons behind the MPF app. The MPF app was a "scam investment application which promised very high returns, thereby luring gullible investors throughout the country to invest their hard-earned money in false expectation of high returns", the ED said in a statement. "During investigations, it has emerged that a large number of companies were connected to this app, which ran many other apps related to investment scams, loans, games, betting, rummy ...

SC seeks Centre's response on plea against fresh extension to ED Director

The Supreme Court on Monday sought the response from the Centre and others to a plea challenging the third extension granted to Enforcement Directorate (ED) chief Sanjay Kumar Mishra. A bench of Justices B R Gavai and Vikram Nath issued notices to the Union of India, Central Vigilance Commission and the ED director on a plea filed by Congress leader Jaya Thakur. "Issue notice returnable in six weeks," the bench said. The plea accused the central government of destroying the "basic structure" of democracy by misusing the enforcement agencies against its political opponents. "The impugned extension of tenure of Respondent No.2 (Mishra) is destroying the democratic process of our country, hence the present writ petition has been filed by the petitioner which may kindly be allowed in the interest of justice," the plea, filed through advocates Varun Thakur and Shashank Ratnoo, said. The Congress leader said the top court had passed a specific order that no further extension shall be ..

C'garh bureaucrat's ED custody extended by 4 days in alleged coal levy scam

A special court in Chhattisgarh's Raipur on Saturday extended the Enforcement Directorate custody of Saumya Chaurasia, a deputy secretary posted in the office of Chief Minister Bhupesh Baghel, for four days in a money laundering case linked to an alleged coal levy scam in the state. Additional District and Sessions Judge Ajay Singh Rajput extended the ED remand of Chaurasia after she was produced before the court on expiry of her current custody, said her lawyer Faizal Rizvi. Chaurasia will be produced in the court again on December 14, he added. Chaurasia was arrested under the Prevention of Money Laundering Act (PMLA) on December 2. As per the ED, a cartel of senior bureaucrats, businessmen, politicians and middlemen were involved in illegal levy of Rs 25 per tonne of coal being transported in the state. The ED carried out raids across the state on October 11 and had arrested IAS officer Sameer Vishnoi, coal trader Suryakant Tiwari, his uncle Laxmikant Tiwari and businessman Sun

ED seizes properties worth Rs 153.31 cr of Baghel's Deputy Secy, others

Enforcement Directorate said that they have attached movable and immovable properties worth Rs 152.31 crore belonging to Chhattisgarh CM Bhupesh Baghel's Deputy Secretary, Saumya Chaurasia, and others

ED files prosecution complaint in alleged coal levy scam in Chhattisgarh

The Enforcement Directorate on Friday filed a prosecution complaint before a special court in Chhattisgarh capital Raipur in a money laundering case linked to the alleged coal levy scam, in which an Indian Administrative Service (IAS) officer and three others have been named as accused. The 'prosecution complaint' along with relied upon documents, running into 8000 pages, was filed in the court of Additional District and Sessions Judge Ajay Singh Rajput under Sections 44 and 45 of the Prevention of Money Laundering Act (PMLA), said ED's counsel Saurabh Pandey. IAS officer Sameer Vishnoi, coal trader Suryakant Tiwari, the latter's uncle Laxmikant Tiwari and businessman Sunil Agrawal have been named as accused, he added. The ED's prosecution complaint mentioned that an illegal levy of Rs 25 per tonne was being extorted for coal transported in the state by a cartel involving senior bureaucrats, businessmen, politicians and middlemen, he said. Besides, lands purchased through benami ..

ED seizes Rs 2.51 cr worth gold from Malappuram-based jewellery house owner

The ED said on Wednesday that it has seized gold worth Rs 2.51 crore from a "secret" chamber at the premises of a Malappuram-based jewellery house promoter, who is an alleged beneficiary of the Kerala 'gold smuggling through diplomatic bag' case. The federal agency said in a statement that the action has been taken against Aboobacker Pazhedath, the promoter of Malabar Jewellery and Fine Gold Jewellery, both based in Malappuram in Kerala and one of the shareholders of Atlas Gold Super Markets Pvt. Ltd., Kozhikode. The Enforcement Directorate (ED), NIA and Customs department are conducting separate investigations into the racket that was unearthed with the seizure of gold worth Rs 15 crore from the diplomatic baggage of the UAE Consulate at Thiruvananthapuram airport on July 5, 2020. Probe found, the ED said, that "Aboobaker Pazhedath of Malappuram is part of the gold smuggling syndicate headed by Sarith P S, Swapna Suresh and Sandeep Nair, under the patronage of IAS officer M ...

ED attaches Kerala cooperative bank agent's assets worth Rs 30.70 crore

The Enforcement Directorate (ED) has attached assets worth Rs 30.70 crore of a commission agent of Karuvannur Service Co-operative Bank Ltd, under the Prevention of Money Laundering Act in a cheating case. According to ED, the attached assets include 20 immovable properties consisting of land and building in Kerala, two premium cars, Rs 3,40,000 and foreign currency totalling Rs 2,08,124. The sleuths attached bank balances also in A K Bijoy's 57 accounts worth Rs 35,86 990. The central agency said he illegally sanctioned and disbursed loan to the tune of Rs 26.60 crore in cash without any collateral due to systematic conspiracy hatched and perpetuated by the secretary and committee members of the bank since 2010. "The ED initiated a money laundering investigation on the basis of the FIRs registered by the Kerala police under section 420 of the IPC. Kerala police (Crime Branch) has registered more than 16 FIRs in Thrissur District regarding fraud in Karuvannur Service Co-Operative .

Scam in cooperative bank: ED has attached assets worth Rs 30 crore

The Enforcement Directorate (ED) has attached assets worth Rs 30.70 crore of Bijoy A K, the commission agent of Karuvannur Service Co-operative Bank Ltd, under the Prevention of Money Laundering Act in fraud and cheating case. The ED said the attached assets include 20 immovable properties consisting of land and building in Kerala, two premium cars, Rs 3,40,000 and foreign currency totalling Rs 2,08,124. The sleuths attached bank balances also in Bijoy's 57 accounts worth Rs 35,86 990. The enforcement agency said he illegally sanctioned and disbursed loan to the tune of Rs 26.60 crore in cash without any collateral due to systematic conspiracy hatched and perpetuated by the secretary and committee members of the bank since 2010. "The ED initiated a money laundering investigation on the basis of the FIRs registered by the Kerala police under section 420 of the IPC. Kerala police (Crime Branch) has registered more than 16 FIRs in Thrissur District regarding fraud in Karuvannur Service