ENFORCEMENT & INVESTIGATION


Dinesh Dalmia, the notorious founder of the DSQ Software group, is back to his old tricks. After spending significant time in jail for fraud, stock manipulation and other legal transgressions in India and the US, he is once again embroiled in allegations of fraud. This time, he has allegedly...

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Moneylife Digital Team 16 May 2024
In a significant judgment, the Supreme Court held that the enforcement directorate (ED) and its officers cannot arrest an accused exercising powers under Section 19 of the Prevention of Money Laundering Act (PMLA) after the special court has taken cognisance of the complaint for money...

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Debayan Roy (Bar  and   Bench) 16 May 2024
The Supreme Court on Thursday questioned the stand of the enforcement directorate (ED) about the testimony of a witness who had not incriminated Delhi chief minister (CM) Arvind Kejriwal in his earlier statement in the Delhi liquor policy case.   A bench of justice Sanjiv Khanna and justice...

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Moneylife Digital Team 13 May 2024
The Supreme Court, while hearing an application last week, has given one last opportunity to the high courts (HCs), states and Union Territories (UTs) to report compliance with the directions issued for including decisions taken in Siddharth vs State of UP (2022) and Satender Kumar Antil vs...

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Moneylife Digital Team 09 May 2024
The Bombay High Court (HC) recently granted bail on health grounds to Ramesh Bawa, former managing director and chief executive officer (MD&CEO) of IL&FS Financial Services Ltd (IFIN). As much as 90% of the loans advanced by IFIN, the lending arm of the infrastructure conglomerate...

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Moneylife Digital Team 07 May 2024
The enforcement directorate (ED)’s investigation into the multi-crore Mahadev illegal betting application scam has revealed that one of the accused firms, Ability Games Ltd, entered into a share purchase agreement with Delta Corp Ltd— a listed company engaged in the casino gaming industry in...

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Moneylife Digital Team 06 May 2024
The Bombay High Court on Monday granted two months interim medical bail to Jet Airways Ltd's founder Naresh Goyal in a money laundering case registered against him by the directorate of enforcement (ED), says a report. Mr Goyal is presently hospitalised at Sir HN Reliance Foundation Hospital...

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Moneylife Digital Team 30 April 2024
RBL Bank Ltd has filed a fraud case against the national head of its credit card department and 10 other senior officers from its Gurugram, Mumbai, Rajkot and Ahmedabad offices and their unknown associates, for allegedly defrauding the Bank of Rs12.02 crore, says a report.   According to the...

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Moneylife Digital Team 18 April 2024
The Mumbai zonal office of the directorate of enforcement (ED) has provisionally attached immovable and movable properties worth Rs97.79 crore belonging to Ripu Sudan Kundra, aka Raj Kundra, under the provisions of the Prevention of Money Laundering Act (PMLA). The attached properties include a...

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Moneylife Digital Team 05 April 2024
Citing the lengthy incarceration and delay in trial, the Bombay high court (HC) on Friday granted bail to Rakesh and Sarang Wadhawan, promoters of Housing Development & Infrastructure Ltd (HDIL) in the multi-crore Punjab and Maharashtra Co-operative (PMC) Bank fraud case. The directorate of...

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The Enforcement Directorate (ED) has issued a 'provisional attachment order' under the Prevention of Money Laundering Act (PMLA), 2002, attaching assets valued at Rs 40.37 crore belonging to Vikram Homes Pvt. Ltd as part of a bank fraud case linked to Rakesh Wadhawan and Sarang Wadhawan, the...

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The enforcement directorate (ED) has provisionally attached movable properties in the form of crypto currencies, gold, and cash valued at over Rs430 crore in a money laundering case against accused Divyesh Darji and others.   According to officials, the financial probe agency had...

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Cracking down on the part-time job scamsters, the Enforcement Directorate (ED) on Thursday attached over Rs 32 crore lying as a balance in over 500 bank accounts in Hyderabad and adjoining areas.   The scam came to light after the Cyber crime department of Hyderabad Police lodged...

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Sam Bankman-Fried, the co-founder and CEO of collapsed crypto exchange FTX, was on Thursday sentenced to 25 years in prison in the US for seven counts of conspiracy and fraud charges.   Judge Lewis Kaplan ordered a 240-month sentence and a 60-month sentence to be served consecutively,...

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The Enforcement Directorate (ED) has attached immovable properties worth Rs124.57 crore belonging to RS Infrastructure Private Ltd, M/s Kenwood Mercantile Private Ltd, M/s Goodfaith Builders Private Ltd and other suspects involved in money laundering in connection with the case of M/s...

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Moneylife Digital Team 22 March 2024
The public disclosure of subscription to electoral bonds, mandated by the Supreme Court, has revealed several questionable practices that demand further scrutiny. Reports indicate that some companies have spent multiples of their annual profits to donate to political parties through electoral...

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Delhi Chief Minister Arvind Kejriwal was arrested on Thursday night by the Enforcement Directorate (ED) in the liquor policy case after being questioned at his official residence for over two hours, and taken to the agency's office.   The ED team, which included a Joint Director of the...

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Moneylife Digital Team 21 March 2024
The directorate of enforcement (ED) has provisionally attached movable and immovable assets located in Nashik, Thane, Sindurgarh and Pali districts, among other areas across Maharashtra and Rajasthan, worth Rs84.24 crore belonging to the promoters of multilevel marketing (MLM) KBC Multitrade...

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The enforcement directorate (ED) has filed a charge-sheet before the special PMLA (Prevention of Money Laundering Act) court in Delhi against Karti P Chidambaram and his former chartered accountant S Bhaskararaman in the Chinese visa scam case.   The agency stated on Thursday that the court...

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Moneylife Digital Team 19 March 2024
The Bombay High Court (HC), on Tuesday, sentenced Mumbai's former encounter specialist police officer Pradeep Sharma to life imprisonment in the case of the fake encounter killing of Lakhan Bhaiya in 2006. The HC also upheld life imprisonment awarded to 13 others, including 12 police personnel,...

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