ENFORCEMENT & INVESTIGATION


Farouk Merwan Irani was a name to reckon with in the world of financial services for nearly four decades. He founded, in the company of Dr AC Muthiah, the first company in the domain of asset leasing in the country which was aptly christened ‘The First Leasing Company of India Ltd’...

Read More



Moneylife Digital Team 17 January 2025
The Delhi zonal office of the directorate of enforcement (ED) has attached immovable properties worth Rs442.85 crore belonging to Kwality Ltd's erstwhile promoter, chairman and managing director (CMD) Sanjay Dhingra and non-executive director Siddhant Gupta in the company's Rs1,400.62 crore...

Read More



Moneylife Digital Team 17 January 2025
Holding that prolonged restrictions on the right to travel cannot be justified in the absence of conclusive findings, the Delhi High Court (HC) suspended conditionally a lookout circular (LOC) issued against Punj Lloyd Ltd's promoter and director, Atul Punj. While permitting Mr Punj to travel...

Read More



Moneylife Digital Team 16 January 2025
The Gurugram zonal office of the directorate of enforcement (ED) has attached immovable properties worth Rs224.08 crore of Vicinity Hotels Pvt Ltd, in the case of Krrish Realtech Pvt Ltd, Amit Katyal and others.   In a release, ED says it has provisionally attached immovable properties on 15...

Read More



Moneylife Digital Team 16 January 2025
The Ahmedabad zonal office of the directorate of enforcement (ED) has frozen 37 bank accounts with a balance of Rs33.67 crore and seized two high-end Mercedees-make luxury cars in the bank fraud case against Electrotherm India Ltd and others.   In a release, ED says, "Ahmedabad zonal office...

Read More



Sofi Ahsan (Bar  and   Bench) 15 January 2025
The Supreme Court on Wednesday rebuked the Central government and the Enforcement Directorate (ED) for making arguments contrary to the provisions of Prevention of Money Laundering Act (PMLA) to oppose bail petitions of accused.   The Court said that such a stance of the government showed its...

Read More



Moneylife Digital Team 09 January 2025
The Hyderabad zonal office of the directorate of enforcement (ED) has provisionally attached 27 immovable properties having a market value of about Rs103.4 crore and a book value of Rs17.14 crore under the provisions of the Prevention of Money Laundering Act (PMLA), in a Ponzi scheme case...

Read More



Moneylife Digital Team 06 January 2025
Last week, the Bombay High Court issued a notice to the central bureau of investigation (CBI) regarding a plea to transfer the investigation of a high-profile mutual fund scam. The case involves Viresh Joshi, former chief trader and fund manager at Axis Mutual Fund, and others accused of...

Read More



Moneylife Digital Team 19 December 2024
The Kolkata zonal office of the directorate of enforcement (ED) conducted search operations at 13 places of Concast Steel and Power Group under the provisions of the Prevention of Money Laundering Act (PMLA) in a bank fraud case. Concast Steel and Power Group had availed credit facilities from...

Read More



Moneylife Digital Team 19 December 2024
The Mumbai zonal office of the directorate of enforcement (ED) on Tuesday conducted search operations at nine different locations across Mumbai and Aurangabad under the provisions of the Prevention of Money Laundering Act (PMLA) in a money laundering case involving bank fraud against Spectra...

Read More



Sahyaja MS (Bar  and   Bench) 12 December 2024
The Bombay High Court's Aurangabad bench on Wednesday refused to quash criminal proceedings initiated against Hindustan Coca-Cola Beverages over allegations that they sold adulterated units of their soft drink 'Canada Dry' in 2001 (Hindustan Coca-Cola Beverages Pvt Ltd v The State of...

Read More



Moneylife Digital Team 10 December 2024
A special Prevention of Money Laundering Act (PMLA) court in Mumbai allowed the monetisation of properties worth Rs2,565.90 crore attached or seized by the directorate of enforcement (ED) in Mehul Choksi's Punjab National Bank (PNB) fraud case.    "In pursuance to the order, the process of...

Read More



Moneylife Digital Team 06 December 2024
While barring Mishtann Foods Ltd (MFL) from raising funds for seven years, market regulator Securities and Exchange Board of India (SEBI) asked the company to retrieve nearly Rs100 crore allegedly misappropriated and diverted to group entities, promoters and directors.    In an order, Ashwani...

Read More



Praisy Thomas (Bar  and   Bench) 05 December 2024
The Kerala High Court on Wednesday ordered the Enforcement Directorate (ED) to probe allegations of fraud against the Kollam-based Edamulackal Cooperative Bank Ltd (Rajendran Unnithan v. Registrar of Cooperative Societies and ors).   The case involves allegations that funds worth Rs24.44...

Read More



Moneylife Digital Team 04 December 2024
The central bureau of investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an ongoing investigation of a transnational cyber-enabled fraud case involving large-scale financial scams.   During the searches, incriminating...

Read More



Moneylife Digital Team 02 December 2024
For committing certain fraudulent acts involving 4B Networks Pvt Ltd funds, the Bandra police have registered a first information report (FIR) against 4B Networks' Rahul Yadav, Devesh Singh, Pratik Choudhary, Sanjay Saini and others. Allcheckdeals India Pvt Ltd (AIPL), a unit of Info Edge Ltd,...

Read More



Moneylife Digital Team 28 November 2024
The Dimapur sub-zonal office of the directorate of enforcement (ED) has attached proceeds of crime (POC) in the form of movable and immovable properties in India and Dubai valued at about Rs106.20 crore belonging to various persons and shell entities, including Chinese-linked shell entities....

Read More



Moneylife Digital Team 26 November 2024
The directorate of enforcement (ED) has attached fresh assets worth about Rs219 crore in its ongoing probe in the case of Fairplay Sports LLC which is involved in online betting and illegal broadcasting of cricket and Indian Premier League (IPL) matches. The ED is investigating a money...

Read More



Debayan Roy (Bar  and   Bench) 25 November 2024
A plea has been moved before the Supreme Court seeking to place additional documents on record and highlight new facts regarding alleged malpractices by the Adani Group, following recent indictments in the United States.   The plea by advocate Vishal Tiwari has been filed in the already...

Read More



Moneylife Digital Team 14 November 2024
The Chennai zonal office of the directorate of enforcement (ED) has seized about Rs8.38 core in Indian currency from the office premises of Chenai-based OPG group and the residential premises of the company directors after search operations carried over two days. The seizure has been done for...

Read More

Free Helpline
Legal Credit
Feedback