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The <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords">Enforcement Directorate</keyword> alleged Saturday that the CPI(M) in <keyword id="19896018" type="General" weightage="20" keywordseo="Kerala" source="keywords">Kerala</keyword> was holding proceeds of <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword>, as it attached a land parcel and <keyword id="20202062" type="General" weightage="20" keywordseo="bank-deposits" source="keywords">bank deposits</keyword> worth Rs 73 lakh of the political party in a <keyword id="19913348" type="General" weightage="20" keywordseo="probe" source="keywords">probe</keyword> linked to the Karuvannur Service Cooperative Bank "scam". Assets worth Rs 28.65 crore of various individuals and entities linked to the case have also been attached by the federal agency after a provisional order under the <keyword id="19912399" type="General" weightage="20" keywordseo="prevention-of-money-laundering-act" source="keywords">Prevention of Money Laundering Act</keyword> (PMLA) was issued. Official sources said the party may be nam<keyword id="19956083" type="General" weightage="20" keywordseo="ED" source="keywords">ed</keyword> as an accused in the next supplementary chargesheet to be filed in this case. If so, it will be the second political party to be arraigned as accused in a money laundering investigation after the Aam Aadmi Party. AAP has recently been named by the ED in the Delhi excise policy case. The CPI(M) vehemently denied the charges of wrongdoing and money laundering. The attached assets include 18 immovable properties, valued at Rs 28.65 crore, consisting of lands and buildings in Kerala of the beneficiaries of the "scam", including an immovable property worth Rs 10 lakh registered in the name of a district secretary of the Communist Party of India (Marxist) for a party office, the ED said in a statement. The attachment also includes eight movable properties, including a credit balance of Rs 63.62 lakh in eight "undisclosed" bank accounts of the CPI(M) local area committees in Thrissur, it added. The agency claimed that the CPI(M) received these funds from the beneficiaries as donations through the governing body and the party is "in possession of proceeds of crime" which has been invested in the purchase of immovable properties and credited to its five bank accounts in the Karuvannur Service Cooperative Bank Ltd. The bank is promoted by the party. The CPI(M) rejected the ED charges, saying it would legally and politically fight any move by the agency to arraign it in the case linked to the alleged multi-crore Karuvannur bank scam. Party state secretary M V Govindan alleged that the ED was trying to make opposition parties and their leaders accused in various cases due to political reasons. He also accused the central agency of attempting to create a smokescreen as it had failed to collect any evidence against the party. The ED believes that the land parcel attached by it was meant for the CPI(M) party office and was purchased using alleged kickbacks from the loanees or beneficiaries of the loans sanctioned by the Karuvannur Service Cooperative Bank. The agency has relied on the "confessional" statements of at least two accused in this case who claimed in their statements recorded before a judicial magistrate that the purported irregularities in the bank were orchestrated at the behest of CPI(M) Thrissur district committee leaders. The ED alleged that "bogus loans" were sanctioned by the Karuvannur Service Cooperative Bank on the same property multiple times without the knowledge of members of the society. "Investigation found benami loans were sanctioned to non-members against inflated property valuations in the names of other members and such loan funds were siphoned off and laundered by the accused beneficiaries," it said, adding that the loan amounts were disbursed in cash to avoid a money trail. "Such benami and illegal loans were sanctioned at the behest of the secretary and the governing body of the society in connivance with the then-bank manager, at the behest of the Thrissur district committee, CPI(M). "In return, the Thrissur district committee, CPI(M), collected money in the form of donations and salary cut from the beneficiaries and society committee members into their undisclosed and illegally opened bank accounts in the same society," the agency said. These funds, according to the ED, were utilised for the purchase of land worth Rs 10 lakh by the secretary of the Thrissur district committee of the CPI(M) for the construction of the party office, which has now been attached as proceeds of crime. Govindan said it has been a decades-long practice of registering the office and other assets of party units in the name of the respective district committees. What role does the party have in the office constructed by one of its local committees, he asked. But the ED is now trying to tarnish the image of the CPI(M) in the name of the assets of one such party unit, Govindan claimed. "We will fight it legally and politically. We haven't got any notice in this regard so far," he told reporters. The ED filed a chargesheet in this case against 55 accused entities in November last year. The money laundering case stems from 16 FIRs registered by the <keyword id="20086884" type="General" weightage="20" keywordseo="kerala-police" source="keywords">Kerala Police</keyword> (<keyword id="20146853" type="General" weightage="20" keywordseo="crime-branch" source="keywords">Crime Branch</keyword>) in Thrissur in 2010. Four people have been arrested by the ED in this case so far.

After AAP, ED attaches land, bank deposits of CPI(M); says party holding proceeds of money laundering

CBI files chargesheet against Rana Kapoor — The rise and fall of Yes Bank’s former co-founder and CEO

The <keyword id="6357808" type="General" weightage="50" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> Friday said it has attached a multi-storeyed commercial complex, worth more than Rs 252 crore, located in Delhi's <keyword id="138738" type="General" weightage="100" keywordseo="shalimar-bagh" source="Orion">Shalimar Bagh</keyword> area in connection with a money laundering investigation linked to an alleged bank fraud case against the <keyword id="692589" type="General" weightage="80" keywordseo="ambience-group" source="Orion">Ambience Group</keyword>. The immovable property is named <keyword id="16931757" type="General" weightage="80" keywordseo="ambience-tower" source="Orion">Ambience Tower</keyword> and it belongs to a company called Ambience Towers Pvt Ltd, a firm of the Ambience Group promoted by Raj Singh Gehlot, the agency said in a statement. A provisional order, under the Prevention of Money Laundering Act (PMLA), was issued by the ED to attach the commercial building worth a total Rs 252.17 crore. The money laundering case stems from an FIR and chargesheets filed by the Jammu and Kashmir anti-corruption bureau that found that a company named Aman Hospitality Pvt. Ltd, through its promoter director Gehlot, was sanctioned a term loan facility of Rs 810 crore by a consortium of banks led by J&amp;K Bank to part finance its hotel project in Shahdara, Delhi. "The loan amount later turned into an NPA. During the investigation, it was revealed that Gehlot had diverted loan funds and layered the same through a web of bank accounts belonging to his relatives and Ambience Group companies," the ED said. Apart from the diversion of funds, it was also found that Gehlot "diverted" materials to the other project sites of the Ambience Group, it said. Gehlot was arrested by the ED in September 2021 in this case. His wife Sheela Gehlot and other directors of the Ambience Group such as Amit Gehlot, Shamsher Singh and Pawan Singh were also named as accused in the chargesheets filed by the ED earlier. The agency earlier attached assets worth Rs 20.20 crore belonging to Raj Singh Gehlot, his family members and the Ambience Group companies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/github-launches-ai-powered-copilot-x-adopts-openais-gpt-4-model/articleshow/98970047.cms">GitHub launches AI-powered Copilot X, adopts OpenAI's GPT-4 model</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/layoffs-coming-to-the-indian-it-sector-analysts-say-accentures-jobs-cuts-offers-a-blueprint/articleshow/98970175.cms">Layoffs coming to the Indian IT sector? Analysts say Accenture’s jobs cuts offers a ‘blueprint’</a>

Bank fraud: ED attaches ₹252 crore worth 'Ambience Tower' in Delhi's Shalimar Bagh

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

ED arrests Wadhawan brothers in Yes Bank case

<ul><li><keyword id="8883506" type="UNKNOWN" weightage="20" keywordseo="yes-bank-founder-rana-kapoor">Yes Bank founder Rana Kapoor</keyword> was arrested by the Enforcement Directorate (ED) early today, March 8.</li><li>He has been arrested under the provision of the <keyword id="6355007" type="UNKNOWN" weightage="20" keywordseo="Prevention-of-Money-Laundering-Act">Prevention of Money Laundering Act</keyword> (PMLA).</li><li>Authorities claim he was not cooperating with the probe.</li></ul> The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money laundering charges here in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said. Kapoor's arrest at the ED office in Ballard Estate followed over 20 hours of questioning by the central agency after it raided his residence on Friday night. The arrest comes after charges of alleged financial irregularities and mismanagement in the operations of the private bank surfaced and the RBI and Union government initiated action to control its affairs. Officials said Kapoor, 62, will be produced before a local court during the day to obtain custody. The investigating officer of the case had recorded Kapoor's statement under the PMLA when he was first interrogated on Friday night at his upscale residence in 'Samudra Mahal' complex in Worli area here. He was brought to the ED office on Saturday noon for a fresh round of questioning. On Saturday, the agency widened its probe in the case as the premises of Kapoor's three daughters in Delhi and Mumbai were searched to gather more information and evidence. According to officials, Kapoor's wife Bindu and daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor -- are allegedly linked to some companies to which the suspected "proceeds of crime" have been traced. The case against Kapoor is linked to the scam-hit DHFL as the loans lent by the bank to the company allegedly turned NPAs, they said. A Rs 600 crore worth loan extended by the DHFL to an entity is also at the centre of the ED probe, officials said. The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts. Other alleged irregularities are also under the agency's scanner including the one related to the alleged PF fraud in the Uttar Pradesh power corporation, they added. The CBI has recently taken over investigation into the Rs 2,267-crore Employees' Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in Dewan Housing Finance Corporation (DHFL). The ED action came after the Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect. Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment. As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. PTI NES AD 03080721 NNNN

Yes Bank founder Rana Kapoor arrested by ED on charges of money laundering

<ul><li>Indiabulls chairman <keyword id="220157" type="PERSON" weightage="20" keywordseo="Sameer-Gehlaut">Sameer Gehlaut</keyword> and <keyword id="6423706" type="DOMAIN" weightage="20" keywordseo="dewan-housing-finance">Dewan Housing Finance</keyword> Corporation’s (DHFL) Dheeraj Wadhawan and <keyword id="152129" type="COMPANY" weightage="20" keywordseo="Kapil-Wadhawan">Kapil Wadhawan</keyword> have refused to appear before the ED citing <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword>. </li><li>They were being investigated for their connection with Yes Bank co-founder Rana Kapoor. </li><li>Wadhawan said that “in today’s circumstances, health is a priority”. </li><li>Meanwhile, Anil Ambani is likely to appear before ED today.</li></ul>The spread of coronavirus has landed people across the globe in a mayhem. But, the adversity has turned out to be an advantage for some. For instance, those summoned in connection with the investigation into loans and kickbacks by Yes Bank are having a field day. Indiabulls chairman Sameer Gehlaut and Dewan Housing Finance Corporation’s (DHFL) Dheeraj Wadhawan and Kapil Wadhawan — who are being investigated <a href="https://www.indiatoday.in/business/story/health-is-priority-yes-bank-investigation-hits-coronavirus-roadblock-1657220-2020-03-19">refused to appear before the ED citing coronavirus outbreak</a>. This is a part of an investigation into the bank’s founder Rana Kapoor, who is already in custody. 
 
 <div type="image" title="rana corona" msid="74706429" hostid="261"></div>





 The law enforcement agency was probing if Gehlaut paid ₹685 crore to Kapoor as a trade off for Yes Bank loan. However, Gehlaut said that he had left for the UK even before the orders to appear before ED were given. Given the current situation — the health emergency due to the pandemic — he conveyed that he will not be able to be a part of it. Wadhawan says that he is at high risk to get infected due to age and health Wadhawans, on the other hand, too managed to escape ED’s radar. It is alleged that the Yes Bank invested ₹3,700 crore in DHFL. In return, Kapil Wadhavan of DHFL gave ₹600 crore fund as loan to DoIT Urban Ventures, a company held by Kapoor’s daughters. Kapil Wadhawan has been untraceable since March 9, when CBI raided his place. And now says that he won’t appear for the investigation due to the pandemic. "In the current environment of the Coronavirus, it is a government directive to curtail travel,” he said. “Considering the COVID-19 pandemic, and with my already-compromised health and age, I am at high risk, and consequently, for my own health and safety, it is difficult for me to travel to Mumbai. I would request you to appreciate that in today's circumstances in the country, health is a priority,” Dheeraj Wadhawan <a href="https://www.businesstoday.in/current/economy-politics/yes-bank-case-dhfl-promoters-refuse-to-appear-for-questioning-cite-coronavirus/story/398518.html">said</a>. This is despite the fact that they have been summoned thrice to appear before ED. Dheeraj and Kapil Wadhawan were<a href="https://theprint.in/india/health-is-priority-dhfl-promoters-cite-coronavirus-to-avoid-facing-ed-in-yes-bank-case/382956/"> first issued summons on March 10</a> by the ED to appear on March 13. But, they did not appear — after which the summons were issued again on March 16. “They have been issued summons, but they are not cooperating and did not appear before the ED. Efforts are being made to locate them,” TOI reported citing sources. Meanwhile, Anil Ambani is likely to appear before the ED official today. In all, the ED has issued 18 summons to corporate houses so far — including the key investors in Yes Bank. See also: <a href="https://www.businessinsider.in/science/environment/news/dolphins-return-to-italy-venice-canal-shines-chinas-air-clears-up-the-impact-of-coronavirus-isolation-says-we-need-to-rethink-our-ways/articleshow/74705435.cms">Dolphins return to Italy, Venice canal shines, China’s air clears up – the impact of Coronavirus isolation says we need to rethink our ways</a> <a href="https://www.businessinsider.in/india/news/a-timeline-of-troubles-at-yes-bank/articleshow/74510279.cms">A timeline of troubles at YES Bank</a>

Coronavirus outbreak hampers Yes Bank investigation — DHFL’s Wadhawans and Indiabulls’ Gehlaut refuse to appear before ED

<ul><li>The <keyword id="6357808" type="DEFINITION" weightage="20" keywordseo="enforcement-directorate">Enforcement Directorate</keyword> (<keyword id="12163" type="COMPANY" weightage="20" keywordseo="Ed">ED</keyword>) filed a money laundering case and carried out searches at the residence of the bank's founder <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword>.</li><li>The central financial probe agency also issued a look out circular against Kapoor, so that he does not leave the country.</li><li>The ED's action comes a day after the RBI superseded the <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month.</li></ul>The Enforcement Directorate (ED) filed a money laundering case and carried out searches at the residence of the bank's founder Rana Kapoor, officials said. The central financial probe agency also issued a look out circular against Kapoor, so that he does not leaves the country. A senior ED official told IANS, "Yes, the agency registered a case of money laundering in the Yes Bank matter." Confirming the searches carried out at Kapoor's residence in Mumbai by the central financial probe agency, the official said, "Yes, the searches started late in the evening at his residence." Another ED official, also related to the probe said the agency has issued LOC against Kapoor, so that the does not leaves the country. The copy of the LOC has been sent to the airport's with details of his passport. The ED's action comes a day after the RBI superseded the Yes Bank board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month. The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank". Former SBI CFO Prashant Kumar was appointed as administrator of Yes Bank. Yes Bank has over 1,000 branches and 1,800-plus ATMs across the country which are under severe stress after the crisis erupted last night. Earlier in the day, Union Finance Minister Nirmala Sitharaman said that the bank was put under watch since 2017 and developments relating to it were being monitored on a day-to-day basis. "Since 2017, the central bank noticed governance issues and weak regulatory compliance at Yes Bank, besides wrong asset classification and risky credit decisions," the Finance Minister said. The bank took many risky credit decisions, and the RBI had advised change in management, she said, adding such decisions were taken in the interest of the bank's health. A new CEO was appointed in September 2018 and clean up of the bank started and the investigative agencies too found irregularities, she said. Sitharaman said the RBI has been asked to assess the causes of problems and identify the role played by individuals. The restructuring scheme will be fully effective within 30 days, she said, adding that the State Bank of India has expressed willingness to invest in Yes Bank. Kapoor was present at his Samudramahal residence when the searches were conducted, the official said. ED officials also questioned Kapoor about financial dealings and properties. Kapoor's role in the disbursal of loan to a corporate entity and kickbacks allegedly received in her wife's bank account are also being probed.

YES Bank founder Rana Kapoor questioned on money laundering case, house raided by ED

<ul><li><keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s <keyword id="54268" type="COMPANY" weightage="20" keywordseo="Reliance-Group">Reliance Group</keyword> borrowed over ₹1400 crore from <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">YES Bank</keyword>, making it one of the biggest borrowers.</li><li>Ambani’s RCom which declared bankruptcy in 2019, has a massive ₹46,000 crore in debt. </li><li>YES Bank founder Rana Kapoor was questioned by the ED and subsequently was taken under custody on charges of alleged financial irregularities and mismanagement in the operations of the bank.</li></ul>Reliance Group chairman Anil Ambani was summoned by the Enforcement Directorate regarding the <keyword id="8873513" type="UNKNOWN" weightage="20" keywordseo="yes-bank-crisis">YES Bank crisis</keyword>. According to a <a href="https://www.business-standard.com/article/companies/ed-summons-anil-ambani-in-connection-with-probe-against-rana-kapoor-120031500864_1.html">Business Standard report</a>, an ED official confirmed that Ambani was called in as all the big and troubled loans given out during Rana Kapoor’s leadership were being questioned. The group borrowed over ₹1400 crore from YES Bank, making it one of the biggest borrowers. Ambani who has three companies reeling under default and bankruptcy zone – Reliance Communications, Reliance Home Finance and Reliance Naval – has a massive ₹46,000 crore in debt, the report said. However, Ambani <a href="https://www.thehindubusinessline.com/companies/reliance-group-has-no-exposure-in-yes-bank-anil-ambani/article31042284.ece">had said</a> that his company has no direct or indirect exposure to YES Bank. The company said that its entire exposure to YES Bank is fully secured and transacted in ordinary course of business. “Reliance Group is committed to honour repayments of all its borrowings from YES Bank through its various asset monetisation programmes which are all at advanced stages,” it had said earlier in the statement. YES Bank founder Rana Kapoor was questioned by the ED last week and subsequently was taken under custody on charges of alleged financial irregularities and mismanagement in the bank’s operations. Kapoor will be kept under custody until today (March 16). Given the bank’s rising troubles, India’s central bank the Reserve Bank of India capped the withdrawals from YES Bank at ₹50,000 on March 5 – which resulted in chaos. However, this would be lifted on March 18, after three top - SBI, ICICI and HDFC said that they will take equity in it. See Also: <a href="https://www.businessinsider.in/thelife/news/yes-bank-founder-rana-kapoor-money-laundering-charges-international-hotels-and-bungalows-in-delhi/articleshow/74644767.cms">Buying international hotels, bungalows in Delhi and expensive paintings — everything that Yes Bank founder Rana Kapoor did with kickbacks for giving out bad loans</a> <a href="https://www.businessinsider.in/india/news/yes-bank-withdrawal-limit-to-be-lifted-in-three-working-days/articleshow/74624128.cms">Yes Bank withdrawal limit to be lifted in three working days</a>

Anil Ambani questioned by ED for his loans from troubled YES Bank

Mumbai, Mar 19 () Reliance Group Chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said.The agency is expected to record the statement of the 60-year-old Ambani under the Prevention of Money Laundering Act (PMLA).Ambani's nine group companies are stated to have taken loans of about Rs 12,800 crore from the bank that reportedly were under "stress". NES ABHABH

Yes Bank: Anil Ambani appears before ED in Mumbai

Mumbai, Mar 7 () The Enforcement Directorate on Saturday continued questioning Yes Bank founder Rana Kapoor in connection with a money laundering probe against him and others, officials said. They said Kapoor was brought to the agency's office in the Ballard Estate area Saturday afternoon. The ED had searched Rana's residence in the upscale 'Samudra Mahal' complex in the Worli area on Friday night and had grilled him there too. The questioning of Kapoor is continuing, they said. The case against Kapoor is linked to the scam-hit DHFL as the loans lent by the bank to the company allegedly turned non-performing assets (NPAs), they said. Action against Kapoor is being conducted under the Prevention of Money Laundering Act (PMLA) by the ED. The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts. Other alleged irregularities are also under the agency's scanner, including the one related to the alleged PF fraud in the Uttar Pradesh power corporation, they added. The CBI has recently taken over investigation into the Rs 2,267-crore Employees' Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in Dewan Housing Finance Corporation (DHFL). The ED action came after the Reserve Bank on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account and superseded the board of the private sector lender with immediate effect. Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment. As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. NES SMNSMN

ED continues questioning Yes Bank founder Rana Kapoor

Mumbai, <keyword id="40530" type="General" weightage="20" keywordseo="tina-ambani" source="Orion">Tina Ambani</keyword>, the wife of Reliance ADA Group Chairman <keyword id="9171" type="General" weightage="20" keywordseo="anil-ambani" source="Orion">Anil Ambani</keyword>, on Tuesday appeared before the Enforcement Directorate (ED) here for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the federal agency again later this week for completion of the exercise. The investigation against the couple pertains to the possession of certain alleged undisclosed assets abroad and linked movement of funds, the sources said. Anil Ambani's alleged links to some offshore companies based in Jersey, British Virgin Islands and Cyprus are under the probe scanner of the ED. He had been questioned by the agency in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others. In August last year, the income-tax department issued a notice to Anil Ambani under the anti-black money law for allegedly evading Rs 420 crore in taxes on undisclosed funds of more than Rs 814 crore held in two Swiss bank accounts. The Bombay High Court in March ordered an interim stay on this I-T show-cause notice and penalty demand.

Anil Ambani's wife Tina Ambani appears before ED in FEMA case

New Delhi, Jun 16 () Beleaguered tours and travel services firm Cox &amp; Kings on Tuesday said its official premises were not raided by the Enforcement Directorate (ED). The company was replying in a clarification sought by the BSE, on the media reports about the raids on premises of the company in the Yes Bank case on June 8. "We can confirm that the official premises of the Cox &amp; Kings Ltd were not raided by the ED. Therefore there is no written communication received from the ED to the company," Resolution Professional of Cox &amp; Kings Ashutosh Agarwala said in a letter to the BSE. As per the available information, few raids were carried out by the ED at the residential premises of the suspended directors of the company and erstwhile key managerial personnel (KMP) who all have resigned from the company, it added. These raids were carried out by the ED in the matter of loan availed by the company from Yes Bank under the tenure of the board of directors which are now suspended due to commencement of corporate insolvency resolution process, the reply said. Cox &amp; Kings Ltd is undergoing corporate insolvency resolution process vide NCLT order dated October 22, 2019. Agarwala was appointed as resolution professional of the company vide NCLT order dated January 10, 2020. The ED had searched the premises of the company promoter Ajay Ajit Peter (Peter Kerkar), Directors Pesi Patel and Abhishek Goenka, former chief financial officer Anil Khandelwal and internal auditor Naresh Jain in Mumbai on June 8. The action was carried out under the Prevention of Money Laundering Act (PMLA) and was in connection with the Yes Bank money laundering case being investigated by the central agency where it has also arrested the bank's co-founder Rana Kapoor. The agency, in a statement, had said the group and its companies have outstanding loans amounting to Rs 3,642 crore. AKT NES MKJ

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After AAP, ED attaches land, bank deposits of CPI(M); says party holding proceeds of money laundering

PTI

CBI files chargesheet against Rana Kapoor — The rise and fall of Yes Bank’s former co-founder and CEO

Vaamanaa Sethi

Bank fraud: ED attaches ₹252 crore worth 'Ambience Tower' in Delhi's Shalimar Bagh

PTI

ED arrests Wadhawan brothers in Yes Bank case

PTI

Yes Bank founder Rana Kapoor arrested by ED on charges of money laundering

PTI

Coronavirus outbreak hampers Yes Bank investigation — DHFL’s Wadhawans and Indiabulls’ Gehlaut refuse to appear before ED

Prerna Sindwani

YES Bank founder Rana Kapoor questioned on money laundering case, house raided by ED

IANS

Anil Ambani questioned by ED for his loans from troubled YES Bank

Sanchita Dash

Yes Bank: Anil Ambani appears before ED in Mumbai

PTI

ED continues questioning Yes Bank founder Rana Kapoor

PTI

Anil Ambani's wife Tina Ambani appears before ED in FEMA case

PTI

Yes Bank case: Cox & Kings says official premises not raided by ED

PTI

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