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The Enforcement Directorate has issued fresh summons to American millionaire <keyword id="271260" type="General" weightage="90" keywordseo="neville-roy-singham" source="Orion">Neville Roy Singham</keyword> for questioning in connection with a <keyword id="6355008" type="General" weightage="20" keywordseo="money-laundering" source="Orion">money laundering</keyword> investigation linked to online news portal <keyword id="10731773" type="General" weightage="70" keywordseo="newsclick" source="Orion">NewsClick</keyword>, official sources said Thursday. The businessman, who is accused of spreading Chinese propaganda in India, is stated to be currently based in Shanghai, China. The <keyword id="12163" type="General" weightage="30" keywordseo="ed" source="Orion">ED</keyword> has issued fresh summons to <keyword id="213658" type="General" weightage="100" keywordseo="singham" source="Orion">Singham</keyword> under the provisions of the Prevention of Money Laundering Act (PMLA). This is a fresh notice issued to him after the agency got issued Letters Rogatory (LR) from a local court seeking to record his statement, the sources said. The summons have been sent to Singham on his email id and through the Chinese government channels, after the ED routed them through the Ministry of External Affairs (MEA). This is understood to be second summons issued to Singham by the ED after one was issued last year after the investigation was launched in 2021. Singham's name hit the headlines again few months back in a New York Times article. The Delhi Police, following this news piece and some "evidence" shared by ED, had also filed a FIR against him and the founders of NewsClick after this news report came to light. In a statement issued to The Hindu newspaper in October, Singham had said that the language used in the FIR filed by the Special Cell of Delhi Police "strongly suggests" that the claims were "influenced by misinformation from an article published by The New York Times." "The NYT intentionally chose not to publish all the factual rebuttals that I provided to them on July 22, 2023, prior to their publication date," Singham had charged. He also rejected the allegation of fraudulent infusion of funds through a "complex web of several entities" as mentioned in the FIR and in the NYT article. The New York Times report claimed that NewsClick was part of a global network that received funding from Singham, who allegedly works closely with the Chinese government media machine. The Enforcement Directorate had first raided the premises of NewsClick in Saidulajab area of the national capital in September, 2021 on charges of money laundering. The agency has recorded the statements of more than 25 people in this case, including that of NewsClick founder and Editor-in-chief Prabir Purkayastha. It last year attached a flat in south Delhi's Saket worth Rs 4.52 crore, which is linked to Purkayastha apart from fixed deposits worth Rs 41 lakh as part of this investigation. NewsClick had said the allegations being made against it "by certain political actors and sections of the media are unfounded and without basis in fact or law".

Fresh summons issued to Singham in NewsClick money laundering case

New Delhi, <keyword id="1564214" type="COMPANY" weightage="20" keywordseo="the-Enforcement-Directorate">The Enforcement Directorate</keyword> (ED) on Wednesday said it has arrested three promoters of the <keyword id="4334121" type="PERSON" weightage="20" keywordseo="agri-gold-group">Agri Gold Group</keyword> of Companies in a Ponzi Scheme Fraud Case worth ₹6,380 crore. Those arrested have been identified as Avva Venkata Rama Rao, <keyword id="10482453" type="COMPANY" weightage="20" keywordseo="avva-venkata-seshu-narayana-rao">Avva Venkata Seshu Narayana Rao</keyword>, Avva Hema Sundara Vara Prasad, who are the main accused under the sections of the prevention of money laundering act (PMLA). The accused were produced before <keyword id="10482454" type="COMPANY" weightage="20" keywordseo="the-ed-pmla-court">the ED PMLA Court</keyword>, Hyderabad, which granted them 14-day judicial custody. The ED had filed a case on the basis of multiple FIRs lodged in the Andhra Pradesh, Telangana and Karnataka. The scam was perpetrated by Avva Venkata Rama Rao through Agri Gold Group of Companies. Avva Venkata Rama Rao had earlier worked in the Golden Forest CIS Fraud scheme. The ED claimed that having learnt the tricks of the trade in that scheme, he hatched a well-planned conspiracy and along with his seven brothers and other associates set up more than 150 companies and started collecting deposits from general public with a promise of providing developed plots/farm lands or withdrawal at a high rate of return on maturity/pre-term. It said that thousands of commission agents were engaged to lure people with various schemes for hefty commission and managed to collect ₹6,380 crore from 32,02,628 such investors. In the end, the gullible investors neither got plots nor could recover their deposits. The group collected the deposits illegally from across the country. According to ED officials, the company duped lakhs of investors from Andhra Pradesh, Telangana, Karnataka, Odisha, Tamil Nadu, Maharashtra, Chhattisgarh and Andaman and Nicobar islands. The ED claimed that the modus operandi involved encouraging the gullible investors to pay the desired deposits either directly or through the agents under the pretext of real estate deal. "These companies did not mention either the actual market value of the land or its location or its boundaries or survey numbers or the permissions required to be obtained for the layouts from the concerned authorities. "They tried to color it as a real estate business, but in reality it was an unregulated unlicensed collective investment scheme," it said. The ED further stated that the Agri Gold Group of Companies did not obtain permission from RBI to collect such deposits. Even SEBI has reported that the business of <keyword id="10482452" type="COMPANY" weightage="20" keywordseo="the-agri-gold-farm-estates">the Agri Gold Farm Estates</keyword> India Private Limited was nothing but a Collective Investment Scheme and ordered the company to stop taking further deposits and return the money to the depositors. "Instead of complying with the directions of the SEBI in letter and spirit, accused Avva Venkata Rama Rao opened new Companies and started collecting deposits in the names of new companies on the pretext of real estate business with the help of an army of commission agents, thus, turning this into a ponzi scam," the ED said. Although the accused collected deposits from 32 lakh investors, they never developed lands sufficient to give plots to all the investors. Even by their unverified claims, at the end they had only 5.5 lakh plots available with them. "Considering the huge discrepancy in the amount of land available, the group should have used all their resources in identifying, buying and developing more land parcels. Instead, Avva Venkata Rama Rao and his family went on a siphoning spree and illegally diverted the public deposits and invested in myriad verticals and in private companies which were directly owned by their family," the ED said. During probe it was revealed that the accused also set up companies abroad and diverted large amounts of funds to off-shore entities. "Their names also figured in the Paradise Leaks and they had incorporated companies with the help of the infamous Mossack Fonsenca in Cayman Islands," the ED said. Earlier, searches were conducted at the residences of Avva Venkata Rama Rao and other directors including the residences of auditors at Vijayawada and Hyderabad. Various property related documents, cash amount of ₹22 lakh, digital devices and other documents were recovered and seized. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-wipro-jubilant-foodworks-bajaj-auto-majesco-and-others/articleshow/79909712.cms">Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Three promoters of Agri Gold Group arrested for Ponzi Scheme Fraud Case worth ₹6,380

New Delhi [India], March 6 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): The Enforcement Directorate (ED) has filed a prosecution complaint against 299 accused persons and entities (including 76 Chinese-controlled entities) and two other entities controlled by other foreign nationals in an ongoing money laundering case, the agency said on Wednesday. The case is linked to the duping of gullible investors who were promised astronomical returns on investing money (claimed to be used for mining bitcoins and other crypto Currencies) for which an app-based token by the name of "<keyword id="19984854" type="General" weightage="20" keywordseo="hpz-token" source="keywords">HPZ Token</keyword>" was used. The prosecution complaint filed before a Special Prevention of Money Laundering Act (PMLA) court in Nagaland's Dimapur named 299 accused persons and 78 entities. Out of the total entities named in the prosecution complaint, 76 are Chinese-controlled entities (in which 10 directors are of Chinese origin) and two other entities are controlled by other foreign nationals. The court took cognizance of the offence of money laundering in the prosecution complaint on Tuesday after finding that a prima-facie case has been made under PMLA, 2002, against the said 299 accused persons. ED initiated an investigation based on an FIR registered by Cyber Crime Police Station, <keyword id="20214444" type="General" weightage="20" keywordseo="kohima" source="keywords">Kohima</keyword> (Nagaland) under various sections of the Indian Penal Code, 1860 and the <keyword id="20003647" type="General" weightage="20" keywordseo="information-technology-act" source="keywords">Information Technology Act</keyword>, concerning the duping of gullible investors who were promised astronomical returns on investing money [claimed to be used for mining of bitcoins and other cryptocurrencies], for which an app-based token by the name of "HPZ Token" was used. The ED investigation revealed that various bank accounts and merchant IDs were opened by various shell entities having dummy directors and proprietors only for the rotation and layering of proceeds of crime representing funds fraudulently received for illegal online gaming betting and investment in <keyword id="19899404" type="General" weightage="20" keywordseo="bitcoin" source="keywords">Bitcoin</keyword> mining. For an investment of Rs 57,000, returns of Rs 4,000 per day for three months were promised but money was paid only once and thereafter, fresh funds were sought. Earlier, ED conducted search operations at 44 locations throughout the country and an amount of Rs 176.67 crore, maintained by shell entities in various banks and virtual accounts, was frozen. Further movable and immovable properties to the extent of Rs 278.70 crore held in the name of dummy entities were attached. Total seizure and attachment stand at Rs 455.37 crore in the case so far. (ANI)

ED files prosecution complaint against 299 accused, 76 Chinese-controlled entities in a money laundering case

<ul><li>The Delhi High Court has allowed <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> to operate its bank accounts in the country.</li><li>The Enforcement Directorate had blocked Vivo’s 119 accounts as part of its investigation against Vivo.</li><li>The Delhi High Court has ordered Vivo to furnish a bank guarantee of ₹950 crore and maintain a bank balance of ₹251 crore.</li></ul>In a major relief to Chinese smartphone maker Vivo, the Delhi High Court has allowed the company to operate its bank accounts in the country. The Enforcement Directorate (ED), the country’s financial watchdog, had raided the premises of Vivo and its associates. The ED had claimed that Vivo had transferred ₹62,476 crore to its parent company in China over a five-year period to avoid paying taxes in the country. The agency had also accused the company of violating the Prevention of Money Laundering Act (PMLA). As part of its investigation, ED had <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">blocked</a> 119 accounts containing ₹465 crore. Soon after this, Vivo <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-moves-delhi-hc-challenging-freezing-of-its-bank-accounts-by-ed/articleshow/92750274.cms">approached</a> the Delhi High Court, challenging the freezing of its bank accounts under PMLA. "Monthly payments of around ₹2,826 crore have to be made towards statutory dues, salaries, rent, and monies for daily business operations. Due to the freezing of the bank accounts, the petitioner will be unable to honor its aforesaid obligations not only towards various statutory authorities but also towards its employees and customers," Vivo had said in its petition. The Delhi High Court today <a href="https://twitter.com/PTI_News/status/1547117241476710405">allowed</a> Vivo to operate its bank accounts in the country and asked the company to furnish a bank guarantee of ₹950 crore. Further, the court also ordered the company to maintain a balance of ₹251 crore. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a> <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a>

Delhi High Court allows Vivo to operate its bank accounts if it’s ready to furnish a ₹950 crore bank guarantee

Chinese mobile manufacturer <keyword id="215177" type="General" weightage="20" keywordseo="vivo" source="Orion">Vivo</keyword> on Friday mov<keyword id="12163" type="General" weightage="20" keywordseo="ed" source="Orion">ed</keyword> a plea in the Delhi High Court challenging the freezing of its various bank accounts by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), 2002. In the writ petition, Vivo said the orders against it are in stark contravention to the mandate of Section 17 of the PMLA, as the same do not entail any reasons for freezing, let alone cogent "reasons to believe" as to why the bank account should be frozen. It is a generic order passed mechanically without any application of mind. It said the total non-application of mind and arbitrariness is manifest from the fact that even the amount in question has not been quantified by the respondent and blanket orders for freezing all the bank accounts have been passed causing substantial and irreparable hardship to the petitioner and gravely impacting its business and reputation. It further said the freezed accounts are utilised for the payment of salaries and statutory dues, opening of letter of credits for the petitioner's operations and for all kinds of expenses necessary for day-to-day functioning of the petitioner. "Monthly payments of around Rs 2,826 crore have to be made towards statutory dues, salaries, rent, monies for daily business operations. Due to the freezing of the bank accounts, the petitioner will be unable to honour its aforesaid obligations not only towards various statutory authorities, but also towards its employees and customers," it said further. Vivo has told the court that the circulation of the news about the ED searches has maligned its image among its suppliers and customers, "leading to reputational and financial loss, and irreparable damage to the years of goodwill developed" by it. "The freezing of the bank accounts will not only impede the existing/prospective business operations of the petitioner conducted through the bank accounts but will bear an adverse effect on the petitioner's operations across the globe," it added. SEE ALSO: <a href="https://www.businessinsider.in/india/news/lost-a-great-friend-pm-modi-mourns-the-loss-of-former-japan-pm-shinzo-abe/slidelist/92748906.cms">Lost a great friend, PM Modi mourns the loss of former Japan PM Shinzo Abe</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo allegedly sent ₹62,476 crore to China to evade taxes in India – here’s everything you need to know</a> <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a>

Vivo moves Delhi HC challenging freezing of its bank accounts by ED

The <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> on Thursday issued a slew of directions for speedy disposal of criminal cases against Members of Parliament and Members of Legislative Assembly (MPs/MLAs) and asked High Courts to register a Suo Motu case for effective monitoring and speedy disposal of such cases. A bench of Chief Justice of India DY Chandrachud, Justices JB Pardiwala, and Manoj Misra said it was difficult for it to form a uniform guideline for trial courts across the country relating to speedy disposal of <keyword id="16453350" type="General" weightage="40" keywordseo="cases-against-mps" source="Orion">cases against MPs</keyword> and MLAs. The top court left it to the high courts to evolve such measures for effective monitoring of such cases. The bench directed that High Court Chief Justices shall register a suo motu case titled "In Re Designated Courts for MPs and MLAs" to monitor the early disposal of pending criminal cases against lawmakers. It directed that the suo motu case be heard by a special bench headed by the Chief Justice or a bench assigned by him or her. It was further directed that the Special Bench of the High Court may list the matter at regular intervals as felt necessary. The top court said the High Court may issue such orders and directions as necessary for expeditious and effective disposal of the cases. The bench further ordered that the Special Bench of the High Court may consider taking the assistance of the Advocate General or prosecutor to assist it. The apex court also directed that cases against MPs and MLAs that are punishable by death should be prioritised over other cases. Then cases punishable with imprisonment for five years or more will be given priority. It further said that the cases would not be adjourned by the trial court except for rare and compelling reasons. The top court said that the High Court may require a Principal District and Sessions judge to bear the responsibility of allocating the subject cases to such courts. The High Court may call upon the Principal District and Sessions judge to send reports on such intervals, it added. The concerned principal and session judge should ensure sufficient infrastructural facilities are available for the trial of such cases, as directed by the top court. The directions of the top court came on a PIL filed by advocate Ashwini Upadhyay seeking speedy disposal of criminal cases pending against MPs and MLAs. Earlier, the Enforcement Directorate (ED) filed a status report stating that there are 51 MPs and 71 MLAs, sitting and former, who stand accused by the agency of offence under the Prevention of Money Laundering Act (PMLA). The report did not specify exactly how many of those are sitting MPs or MLAs and how many are former MPs or MLAs. The Central Bureau of Investigation (CBI) had also submitted a similar report stating that a total of 121 cases are pending trial against sitting and former MPs and MLAs. The number of MPs involved in those cases is 51, out of which 14 are sitting, 37 are former and 5 are deceased. The report further stated that 112 MLAs are involved in CBI cases, out of which 34 are sitting, 78 are former and 9 are deceased. The number of cases pending investigation against MPs and MLAs by the CBI is 37, according to the report the CBI submitted. Senior advocate Vijay Hansari, who was assisting the apex court in the case as amicus curiae, had highlighted a "glaring case of inordinate delay" in the trial of cases against lawmakers, submitting that many cases were pending for over five years. The apex court had sought a status report from Hansaria relating to the pendency and grant of sanctions for prosecution, the expected time for completion of the investigation and reasons for delay in the same. Hansaria had sought directions to ensure that courts dealing with cases against lawmakers should exclusively try such issues. The plea sought speedy disposal of cases against them and pointed out that while judges and babus were suspended for such activities, politicians were condoned by the law. As of now, convicted politicians have been banned from the polls for six years.

SC issues directions to HCs for speedy disposal of criminal cases against MPs, MLAs

<ul><li>The <keyword id="6357808" type="General" weightage="80" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (<keyword id="12163" type="General" weightage="20" keywordseo="ed" source="Orion">ED</keyword>) has reportedly raided 44 locations across the country.</li><li>The locations reportedly belong to Chinese smartphone maker <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> and its related firms.</li><li>The financial watchdog is reportedly investigating violations of the Prevention of Money Laundering Act (PMLA).</li></ul>In a major crackdown on Chinese smartphone makers, India’s financial watchdog Enforcement Directorate (ED), has reportedly raided 44 locations across the country. The raids were conducted as part of its investigation into violations of the Prevention of Money Laundering Act (PMLA). The raids were reportedly conducted at places belonging to Chinese smartphone maker Vivo and its related firms. The raids are reportedly underway in Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, and several other states. It is unclear why the ED has raided Vivo or what evidence it has recovered so far from the raids. "Vivo is cooperating with the authorities to provide them with all required information. As a responsible corporate, we are committed to be fully compliant with laws," a Vivo spokesperson said in a statement to Business Insider India. Vivo is not the first Chinese smartphone maker under the ED’s scanner. Earlier this year, the ED had ordered a seizure of ₹5,551.27 crores from <keyword id="874458" type="General" weightage="80" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> India, claiming that the company had illegally remitted ₹5,551.27 crores in February 2022. The company had later approached the Karnataka High Court, which had reserved its verdict. Xiaomi had <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">claimed</a> that 84% of the amount mentioned above was remitted to Qualcomm as part of royalty payments. ED is not the only agency has is investigating Chinese smartphone makers. The Income Tax Department conducted <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">raids</a> across 15 locations of Xiaomi, Oppo, OnePlus, Dixon, and other companies in December 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">Income Tax department reportedly raids Xiaomi, Oppo and OnePlus offices in India</a> <a href="https://www.businessinsider.in/india/news/chinese-state-media-says-indias-seizure-of-over-5500-crore-from-xiaomi-could-be-seen-as-a-crackdown-on-chinese-companies/articleshow/91434053.cms">Chinese state media says India's seizure of over ₹5,500 crore from Xiaomi could be seen as a crackdown on Chinese companies</a>

After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner

<ul><li>The agency recently carried out search operations at two premises in <keyword id="6354925" type="General" weightage="80" keywordseo="kolkata" source="Orion">Kolkata</keyword>. </li><li>The instant case was registered on the basis of the <keyword id="6358015" type="General" weightage="50" keywordseo="fir" source="Orion">FIR</keyword> filed by the Kolkata police against Aamir <keyword id="6355601" type="General" weightage="80" keywordseo="khan" source="Orion">Khan</keyword> and others.</li><li>Khan, launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding public. </li></ul> The Enforcement Directorate (ED) has frozen <keyword id="6395759" type="General" weightage="100" keywordseo="bitcoins" source="Orion">Bitcoins</keyword> worth ₹ 7.12 crore and seized ₹ 1.65 crore in cash as part of its probe in the E-nuggets gaming app case, officials said. The agency recently carried out search operations at two premises in Kolkata, leading to seizure of ₹ 1.65 crore in cash and freezing of 44.5 Bitcoin (equivalent to ₹ 7.12 crore as per exchange rate) and other incriminating documents under the provisions of the Prevention of Money Laundering Act (PMLA). The instant case was registered on the basis of the FIR filed by the Kolkata police against Aamir Khan and others. The FIR filed was based on a complaint filed by Federal Bank authorities in a city court. Khan, launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding public. Further, after collecting handsome amount from the public, all of the sudden, the withdrawal from the said app, was stopped, on one or the other pretext. Thereafter, all data including profile information was wiped off from the app servers. It was revealed that multiple accounts (more than 300) were used to launder the money, officials said. Earlier during search operation against Khan, an amount of ₹ 17.32 crore was seized from his residence and Bitcoins worth ₹ 13.56 crore and other crypto currencies worth ₹ 47.64 lakh were traced and freezed. Apart from this, ₹ 5.47 crore found in the bank account of Khan and his accomplice was also freezed by the agency. During investigations conducted under PMLA, an amount of ₹ 51.16 crore has been seized so far in total in the case. Further investigation in the matter is on. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/spicejet-to-suspend-sikkim-operations-from-oct-30-due-to-operational-constraints/articleshow/95001946.cms">SpiceJet to suspend Sikkim operations from Oct 30 due to operational constraints</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/diwali-celebrations-begin-at-times-square-vp-kamala-harris-and-former-prez-donald-trump-to-attend/articleshow/95001470.cms">Diwali celebrations begin at Times Square: VP Kamala Harris and former Prez Donald Trump to attend</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/zerodhas-co-founders-nithin-and-nikhil-kamath-donate-100-crore-in-fy22/slidelist/94991823.cms">Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22</a>

ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets gaming app case

New Delhi, May 14 () The Enforcement Directorate (ED) on Thursday arrested DHFL promoters Kapil and Dheeraj Wadhawan in connection with its money laundering probe against Yes Bank co-founder Rana Kapoor and others, officials said.The brothers were remanded to 10-day ED custody by a special court in Mumbai, they said.The Wadhawans are presently in jail after being arrested by the Central Bureau of Investigation (CBI), which is also probing the same case.They were arrested under the provisions of the Prevention of Money Laundering Act (PMLA), the officials said.The Wadhawan brothers, also being probed by the ED in another money laundering probe linked to late gangster Iqbal Mirchi, were summoned by the agency multiple times in the Yes Bank case but they had cited the ongoing COVID-19 travel restrictions to skip the summons.Five vehicles of the Wadhawan brothers were seized by the ED in April after they and their family members were reported to have unauthorisedly travelled to Mahabaleshwar from Lonavala in Maharashtra during the nationwide coronavirus-induced lockdown.As many as 44 companies belonging to 10 large business groups, including Anil Ambani Group, Essel Group, ILFS, Dewan Housing Finance Corporation Ltd, Cox &amp; Kings, and Bharat Infra, reportedly accounted for bad loans of Rs 34,000 crore of Yes Bank.The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later allegedly turned non-performing assets (NPA).Kapoor is also in ED custody. NES DIVDIV

You Searched For "the ed pmla court" and got 9 results

Fresh summons issued to Singham in NewsClick money laundering case

PTI

Three promoters of Agri Gold Group arrested for Ponzi Scheme Fraud Case worth ₹6,380

IANS

ED files prosecution complaint against 299 accused, 76 Chinese-controlled entities in a money laundering case

ANI

Delhi High Court allows Vivo to operate its bank accounts if it’s ready to furnish a ₹950 crore bank guarantee

Sourabh Jain

Vivo moves Delhi HC challenging freezing of its bank accounts by ED

IANS

SC issues directions to HCs for speedy disposal of criminal cases against MPs, MLAs

ANI

After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner

Sourabh Jain

ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets gaming app case

IANS

ED arrests Wadhawan brothers in Yes Bank case

PTI

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