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Actor <keyword id="19915080" type="General" weightage="100" keywordseo="Shilpa-Shetty" source="keywords">Shilpa Shetty</keyword> and her businessman husband <keyword id="19895826" type="General" weightage="20" keywordseo="Raj-Kundra" source="keywords">Raj Kundra</keyword> have moved the <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Bombay High Court" meta.hostid="153" meta.entityid="Bombay High Court">Bombay High Court</keyword> challenging ED's notices directing them to vacate their house in Mumbai's <keyword id="19933318" type="General" weightage="20" keywordseo="Juhu" source="keywords">Juhu</keyword> area and a farmhouse in Pune in connection with a money-laundering case. The pleas came up for hearing on Wednesday before a division bench of Justices Revati Mohite Dere and Prithviraj Chavan. The court issued notice to the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="153" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> (ED) and posted the matter for hearing on Thursday. Their petitions challenge ED notices dated September 27 issued to Shetty and Kundra directing them to evict their residential premises here and a farmhouse in Pune within ten days in connection with a money-laundering case linked to an alleged <keyword id="23486542" type="General" weightage="20" keywordseo="Bitcoin-fraud" source="keywords">Bitcoin fraud</keyword>. The couple's advocate Prashant Patil said that Shetty and Kundra received the <keyword id="20675198" type="General" weightage="20" keywordseo="eviction-notices" source="keywords">eviction notices</keyword> only on October 3. He termed the notices arbitrary and illegal and sought them to be quashed. According to the pleas, there is no grave urgency for the petitioners to vacate their premises and that the issuance of such eviction notices was uncalled for. "The petitioners are also seeking relief on humanitarian grounds as the premise in question is their residential premise in which they have been staying with their family of six members for almost two decades," the petitions said. The pleas also sought HC to stay the effect of the eviction notices. As per the pleas, the ED had in 2018 lodged a complaint against one <keyword id="21346793" type="General" weightage="20" keywordseo="amit-bhardwaj" source="keywords">Amit Bhardwaj</keyword> and others for an alleged Bitcoin fraud and on charges of <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword>. Both Shetty and her husband have not been named as accused in the case. The ED, during its probe, had summoned Kundra for questioning on several occasions. Kundra had appeared before the agency after each summons, the pleas said. In April 2024, Shetty and Kundra received a notice based on an order passed by the ED provisionally attaching their assets including their residential premise in Juhu that had been purchased by Kundra's father in 2009. Both Shetty and Kundra submitted their response to the notice. "However, in contravention to the provisions of law, the adjudicating authority confirmed the provisional attachment order on September 18, 2024. This order clearly states that the attachment is confirmed only till the conclusion of trial and is subject to its outcome," the pleas said. "The petitioners (Shetty and Kundra) on October 3 received two notices dated September 27, 2024, directing them to vacate their residential premises and the farmhouse," the petitions said. The petitions said no eviction order/notice can be issued prior to conviction. The pleas added that their residential premise has no connection with the scheduled offence or any proceeds of crime. The petitions further claimed that Kundra had absolutely no connection with the alleged fraud.

Shilpa Shetty and Raj Kundra's money laundering case takes new turn as they challenge the ED's eviction notices

New Delhi [India], February 22 (ANI): The Directorate of Enforcement (ED) has asked the Bureau of Immigration to issue a look out notice against <keyword id="19901244" type="General" weightage="20" keywordseo="byju-raveendran" source="keywords">Byju Raveendran</keyword>, the founder of the in-crisis edtech company <keyword id="20683048" type="General" weightage="20" keywordseo="bjyu" source="keywords">Bjyu</keyword>'s, according to sources. The aim is to prevent <keyword id="20167845" type="General" weightage="20" keywordseo="raveendran" source="keywords">Raveendran</keyword> from leaving the country. Reportedly, this development comes ahead of a high-stakes Extraordinary General Meeting (<keyword id="19966733" type="General" weightage="20" keywordseo="egm" source="keywords">EGM</keyword>) scheduled for this Friday, where it was reported that certain investors were seeking to oust Raveendran from his position. On Wednesday, the Karnataka High Court had passed an order asking Byju's shareholders not to bring in effect any resolutions during the EGM until the final hearing. The order was on a petition filed by Byjus asking the court to restrain shareholders from holding the EGM. While the court has not stayed the EGM it has kept any resolutions in abeyance till the final hearing. The court will next hear the matter on March 13. Among the issues facing Byju's is the allegation of foreign exchange violations, which has likely prompted the central agency to push for the LOC against Raveendran The Enforcement Directorate had in November 2023 issued show cause notices to Byjus for violations under the Foreign Exchange Management Act (FEMA) violations amounting to Rs 9362.35 crores. ED had initiated the investigation on the basis of various complaints regarding the foreign investment received by the company Think and Learn Private Limited and the business conduct of the company. The company was also stated to have made significant foreign remittances outside India and investments abroad which were allegedly in contravention of provisions of FEMA, 1999 and caused loss of revenue to the Government of India, ED had earlier stated. "On conclusion of the investigation, it was found that Think &amp; Learn Private Limited &amp; Byju Raveendran have contravened the provisions of FEMA by failing to submit documents of imports against advance remittances made outside India, by failing to realize proceeds of exports made outside India, by delayed filing of documents against the Foreign Direct Investment (FDI) received into the company, by failing to file documents against the remittances made by the company outside India and by failing to allot shares against FDI received into the company," the ED had earlier stated. (ANI)

ED issues look out notice against Byju Raveendran: Sources

New Delhi: The <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> on Wednesday said it will hear on September 17 the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="nclat" source="keywords">NCLAT</keyword>, which had stayed insolvency proceedings against ed-tech firm BYJU's and approved its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="bcci" source="keywords">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by a battery of lawyers that the plea be heard urgently keeping in mind the subsequent developments in the case. The plea was mentioned by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. The submission was supported by Solicitor General Tushar Mehta, appearing for the <keyword id="19901245" type="General" weightage="20" keywordseo="bcci" source="keywords">BCCI</keyword>, and senior lawyer Abhishek Singhvi, also appearing for the ed-tech firm. Kaul said another plea in the case has also been filed and that is listed for hearing on September 17 and hence, the present plea be either heard on that day or the hearings in both the cases be advanced to this Friday. "We will hear both the pleas on September 17," the CJI said. Senior advocate Shayam Divan, appearing for the US-based creditor, said let the matters be heard together on September 17. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal <keyword id="19916400" type="General" weightage="20" keywordseo="nclat" source="keywords">NCLAT</keyword>. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the <keyword id="19902197" type="General" weightage="20" keywordseo="national-company-law-tribunal" source="keywords">National Company Law Tribunal</keyword> (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's.

SC to hear plea related to insolvency proceedings against ed-tech firm Byju's on Sept 17

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="NCLAT" source="keywords">NCLAT</keyword>, which had stayed <keyword id="19965539" type="General" weightage="20" keywordseo="insolvency-proceedings" source="keywords">insolvency proceedings</keyword> against ed-tech firm <keyword id="19958178" type="General" weightage="20" keywordseo="Byjus" source="keywords">BYJU's</keyword> and approving its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="153" meta.entityid="BCCI">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. Kaul said, "The only funding was done by the promoters and today no one has brought any external borrowing. We have to show today how malafide the petition (of US firm) is." "I will get it listed as early as possible," the CJI, who was indisposed and in quarantine for the last few days, said. Senior advocate Kapil Sibal, appearing for the US-based creditor, said it also wanted an early hearing. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal NCLAT. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the National Company Law Tribunal (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a>

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

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

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, The <keyword id="19914482" type="General" weightage="20" keywordseo="aap" source="keywords">AAP</keyword> on Friday claimed the CBI is planning to arrest Delhi Chief Minister Arvind <keyword id="19895701" type="General" weightage="20" keywordseo="kejriwal" source="keywords">Kejriwal</keyword> in the next few days and will serve him a notice by the evening. While the party did not say in which case Kejriwal is likely to be arrested, it said that this was being done to prevent the AAP from stitching an alliance with the Congress for the upcoming Lok Sabha elections as the <keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword> is scared of the two parties coming together. While there was no immediate response from the Central Bureau of Investigation (CBI) to the AAP's claims, the BJP said AAP leaders are trying to create confusion and generate sympathy for Kejriwal. The Congress and the AAP are likely to have a seat-sharing pact in Delhi, Gujarat and Haryana for the Lok Sabha polls and the talks between the two sides are in the final stages, sources said on Thursday. Addressing a press conference here, Delhi cabinet minister and senior AAP leader <keyword id="19945966" type="General" weightage="20" keywordseo="saurabh-bharadwaj" source="keywords">Saurabh Bharadwaj</keyword> said as soon as reports of finalisation of seat-sharing talks between the Congress and the AAP started coming in, the ED sent a seventh summons to Kejriwal in the excise policy case. "We have learnt from reliable sources that the CBI is planning to arrest Kejriwal. The CBI will also serve a notice to Kejriwal either this afternoon or by the evening," Bharadwaj said. Kejriwal will be arrested in the next two to three days, he said. "We are getting messages that if the AAP-Congress alliance is formed, Arvind Kejriwal will be arrested. The BJP is scared of the AAP-Congress alliance. You can arrest Kejriwal if you want, but the alliance will be forged," he said. The Enforcement Directorate has issued a fresh summons to Kejriwal asking him to appear before it for questioning in the Delhi excise policy-linked money laundering case on February 26, sources said on Thursday. This is the seventh summons issued by the ED to the chief minister, who skipped the previous six. AAP Rajya Sabha MP Sandeep Pathak said people will take to the streets if Kejriwal is arrested. "There will be a tsunami. Their (BJP) political calculations will go wrong. We are not scared of being arrested. We are forging this alliance for the country," he said. Delhi BJP president <keyword id="20040814" type="General" weightage="20" keywordseo="virendra-sachdeva" source="keywords">Virendra Sachdeva</keyword> said Kejriwal knows that the talks on the AAP's alliance with the Congress are failing but AAP leaders have been spreading rumours since Thursday and are trying to generate sympathy for the chief minister. "Kejriwal may delay his punishment with the help of lawyers but ultimately, the people of Delhi will punish him harshly in the coming elections," the BJP leader said. The AAP and Kejriwal should remember that Congress leader Ajay Maken had submitted the first written complaint to the lieutenant governor regarding the liquor "scam" under his government, Sachdeva said. The BJP won all the seven seats in Delhi with 51 per cent votes in the 2014 Lok Sabha polls and 59 per cent in 2019. In the 2024 Lok Sabha elections, the people of Delhi will give 70 per cent votes to the BJP, he asserted.

CBI to arrest Kejriwal in few days, will serve him notice by evening: AAP

<keyword id="6354742" type="General" weightage="20" keywordseo="Flipkart" source="Orion">Flipkart</keyword> co-founder <keyword id="225032" type="General" weightage="20" keywordseo="Sachin-Bansal" source="Orion">Sachin Bansal</keyword> has moved the Madras High Court challenging a show cause notice (SCN) dated July 1 this year issued by the Enforcement Directorate (ED), which held that he and another individual were personally responsible for the alleged violation of FDI policy involving a staggering amount of approximately ₹23,000 crore. Justice R Mahadevan, before whom the writ petition from Bansal came up for hearing on Friday, pulled up the authorities for the delay of 12 years in issuing the notice and adjourned the matter by three weeks, after directing the ED and its officials to file the counters. The petition sought to quash the notice as illegal and arbitrary, insofar as he is concerned. The interim prayer is to stay its operation. The SCN was issued on the basis of a complaint filed by the Deputy Director of Enforcement in Bengaluru, for instituting adjudication proceedings under Sec.16 of the Foreign Exchange Maintenance Act (FEMA) against the petitioner, another co-founder Binny Bansal of the e-commerce giant, Accel, Tiger Global, Subrata Mitra (nominee director of Accel) and Lee Fixel (nominee director of Tiger Global) on the alleged contravention of the various provisions of the FEMA. The notice was issued pursuant to an alleged non-compliance with a condition prescribed vide the Consolidated Foreign Direct Investment Policy of 2010 dated April 1, 2010 in respect of issuance of shares of certain Flipkart group companies to foreign investors during 2009-14. According to Bansal, he ceased to have any association with Flipkart and its group of companies, pursuant to his unanticipated exit following the acquisition of Flipkart by Wal-mart International Holding, Inc. on August 17, 2018. Among other things, he contended that issuance of the SCN was arbitrary, unreasonable and patently a perverse one, as it was issued after 12 years. The complaint followed an investigation by the Directorate of Enforcement in New Delhi, which commenced in 2012, i.e. 9 years ago. He had proactively participated and cooperated in the investigation undertaken by the ED. Given the substantial lapse of time following the inquiry, the petitioner has conducted himself under the bonafide belief that after due study of the materials obtained during the course of the probe, the ED had concluded that no action was warranted in the matter. And, he had effected bonafide transfers to third parties in the intervening period and had completely exited from the Flipkart group in August 2018. However, to the utter shock and dismay, the ED issued the notices, he contended. Specifically, there is no statutory period prescribed under FEMA within which the authorities concerned were required to file the complaint for initiating the adjudication proceedings. In the absence of any period of limitation under the statute, it has been settled by the <keyword id="6354977" type="General" weightage="20" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> in various judgments that the Constitution requires every authority, including the ED, to exercise its power to file a complaint within a reasonable time, failing which the actions taken by the statutory authority will be amenable to the writ jurisdiction of constitutional courts, petitioner said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mukesh-ambanis-reliance-acquires-majority-stake-in-strand-life-sciences-for-393-crore-/articleshow/85900998.cms">Mukesh Ambani's Reliance acquires majority stake in Strand Life Sciences for ₹393 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/doge-meme-nft-increases-55-times-in-value-to-220-billion/articleshow/85899796.cms">Doge meme NFT's value flies from $4 million to $220 million overnight after getting split into 17 billion pieces</a>

Flipkart's Sachin Bansal  moves Madras High Court challenging ED notice

<ul class="summary-list"><li>Sheeran was always the movie's surprise cameo, <keyword id="12521693" type="UNKNOWN" weightage="60" keywordseo="rawson-marshall-thurber" source="Orion">Rawson Marshall Thurber</keyword> told Insider.</li><li>"His name was in my notebook when I was scratching out all the ideas for '<keyword id="12011678" type="UNKNOWN" weightage="60" keywordseo="red-notice" source="Orion">Red Notice</keyword>,'" he said.</li></ul>At the end of "Red Notice," <keyword id="11892922" type="UNKNOWN" weightage="60" keywordseo="netflix" source="Orion">Netflix</keyword>'s buddy comedy/heist movie starring Dwayne Johnson, Ryan Reynolds, and Gal Gadot, the movie's star power levels up even more when <keyword id="12095724" type="UNKNOWN" weightage="60" keywordseo="ed-sheeran" source="Orion">Ed Sheeran</keyword> appears out of nowhere.Sheeran begins to perform his hit song "Perfect" at the fancy wedding where Johnson and Gadot's con artist characters provide stolen jeweled eggs to the bride's family. When the authorities show up to claim the eggs, all the guests, including Sheeran, are taken away.Sheeran does not go away quietly. He yells at the authorities while being pulled away: "Don't you know who I am? I was in 'Game of Thrones,' I'm Ed Sheeran, bitch!" <div type="image" title="Ed Sheeran in a suit and tie being dragged away by police" height="1200" width="2101" msid="87724141" hostid="261"></div>Director Rawson Marshall Thurber <a href="https://www.insider.com/red-notice-details-explained-vin-diesel-joke-cameo-sequel-idea-2021-11">told Insider</a> that Sheeran being the movie's surprise cameo was always his plan."It was so much Ed that his name was in my notebook when I was scratching out all the ideas for 'Red Notice,'" Thurber said."I was put in touch with Ed by a mutual friend and I emailed him and asked if he would do this," he continued. "I sent him a picture of my notebook with his name in it. He's the most delightful human being on the planet and he said he was in. 'The weirder the better,' he told me. And I said, 'That's my guy.'"But it was a logistical nightmare to shoot Sheeran for the movie, Thurber said, because of rules around live performances in the middle of the pandemic."His scene was the very last thing we shot for the movie," said Thurber, who flew to London for one day to shoot the cameo."Because he sings in the scene, we had to be a certain distance away, so we had to have a remote-operated camera shoot him," he said. "It made everything incredibly tricky to achieve. But he was a real trooper. It is one of my favorite moments in the film.""Red Notice" is available now on Netflix.

'Red Notice' director explains how the Ed Sheeran cameo was pulled off

A few firms, including <keyword id="10587326" type="General" weightage="100" keywordseo="coinswitch" source="Orion">CoinSwitch</keyword> and <keyword id="6416838" type="General" weightage="20" keywordseo="coindcx" source="Orion">CoinDCX</keyword> dealing in cryptocurrency have been asked by the <keyword id="6357808" type="General" weightage="20" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) to submit some documents in connection with an ongoing case of the <keyword id="88944" type="General" weightage="50" keywordseo="foreign-exchange-management-act" source="Orion">Foreign Exchange Management Act</keyword> (FEMA). The ED is trying to ascertain whether these firms were involved in foreign exchange violations or not. According to sources, the ED sent notices to CoinSwitch and CoinDCX, both firms deal into cryptocurrency exchange. Earlier, <keyword id="208535" type="General" weightage="50" keywordseo="sumit-gupta" source="Orion">Sumit Gupta</keyword> the founder of CoinDCX was questioned at ED's Bengaluru office. He was summoned following which he had recorded his statements. People working as executives and looking after the work in cryptocurrency exchanges firms were also served notices to record their statements. ED sources said they will scan the transactions of the last three years done by these two firms and their Chartered Accountants (CA) will also be questioned. CoinDCX said in a statement that as per their understanding, "the ED has sent notices to major exchanges in India seeking information and data on how platforms work. As required, we have shared all necessary information to the satisfaction of the department and no subsequent action is pending at our end". CoinSwitch also confirmed that they were sent notices by the ED and they were willing to comply. "We receive queries from various government agencies. Our approach has always been one of transparency. <keyword id="2721952" type="General" weightage="80" keywordseo="crypto" source="Orion">Crypto</keyword> is an early-stage industry with a lot of potential and we continuously engage with all stakeholders," a CoinSwitch spokesperson said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/flexibility-is-passe-companies-are-ready-to-re-design-jobs-to-retain-talent/articleshow/92696760.cms">Flexibility is passe, companies are ready to re-design jobs to retain talent</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/specialty-chemical-sector-is-the-new-investor-darling-thanks-to-a-weak-rupee-global-demand/articleshow/92696554.cms">Specialty chemical sector is the new investor darling thanks to a weak rupee &amp; global demand</a>

ED send notices to crypto firms — CoinSwitch, CoinDCX to probe any foreign exchange violations

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

Mumbai, The <keyword id="6357808" type="General" weightage="20" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> is conducting searches at some places linked to <keyword id="16811721" type="General" weightage="20" keywordseo="asset-manager-franklin-templeton" source="Orion">asset manager Franklin Templeton</keyword> and its former and current executives in Mumbai and Chennai as part of a money laundering investigation, officials said. The federal agency is looking to gather more evidence as part of its investigation against the company and its promoters under the Prevention of Money Laundering Act (PMLA), they said. In November 2020, capital markets regulator Sebi issued a show-cause notice to the company following its April 2020 decision to wind up six debt schemes having Rs 25,000 crore of assets under management (AUM) from 3 lakh investors, citing liquidity challenges because of the pandemic. Eventually, the company was asked to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and was banned from launching new debt schemes for alleged irregularities in running the six debt schemes. The Chennai police economic offences wing (EOW) subsequently registered an FIR to probe these alleged irregularities. The ED case of money laundering stems from this complaint. In 2021, Sebi restricted the heads of the asset manager - Vivek Kudva and Roopa Kudva - from accessing the securities market and from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of one year.

Enforcement Directorate conducts searches against Franklin Templeton in Mumbai, Chennai

<ul><li><keyword id="6371973" type="General" weightage="50" keywordseo="karnataka-high-court" source="Orion">Karnataka High Court</keyword> has rejected Chinese firm <keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword>'s plea against the seizure of Rs 5,551.27 crore.</li><li>A single-judge bench of Justice M. Nagaprasanna, on Friday, though dismissed the petition, upheld its maintainability.</li></ul><keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, Karnataka High Court has rejected Chinese firm Xiaomi's plea against the seizure of Rs 5,551.27 crore from its bank accounts by the Enforcement Directorate (ED). A single-judge bench of Justice M. Nagaprasanna, on Friday, though dismissed the petition, upheld its maintainability. The Chinese technology company is facing charges of violations of the provisions of the Foreign Exchange Management Act (FEMA). The bench observed that challenge to the Constitutional validity of Section 37A of the Act by the petitioner is held to be maintainable, on the fulcrum of the allegation that it is violative of Article 14 of the Constitution. As Article 14 is person centric whereas Fundamental Rights under Article 19 are citizen centric. Appearing for the central government and the ED, Additional Solicitor General M.B. Nargund Amaintained that Xiaomi is a foreign entity and can not maintain writ petition. Earlier, counsels for <keyword id="2210169" type="General" weightage="50" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword> had argued that the firm was being targetted as it is a Chinese company and other companies are allowed to make payments of technology royalty. They have also brought to the notice of the court that banks are not allowing Xiaomi to make remittances in foreign exchange for imports. They argued that the company is required to make payments for foreign companies in connection with manufacturing and marketing smartphones. Contesting this Additional Solicitor General Nargund had explained that the authorities had no complaints if Xiaomi is agreeable to keep the seized amount in the bank and use remaining amount. He brought to the notice of the court that on April 24 and 29, before the ED passed the order to seize Xiaomi's bank accounts, there was a transfer of around Rs 1,500 crore from the company's bank accounts as per the available information. However, <keyword id="2402890" type="General" weightage="50" keywordseo="xiomi" source="Orion">Xiomi</keyword> is maintaining that royalty payments made to three companies abroad would not violate the FEMA Act. The company further maintained that the IT department itself had allowed it as a value added activity. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/bard-to-magi-googles-latest-weapon-in-the-battle-for-search-supremacy/articleshow/99576251.cms">From Bard to Magi: Google's latest weapon in the battle for search supremacy</a> <a href="https://www.businessinsider.in/tech/news/ai-generated-images-and-videos-a-game-changer-or-a-threat-to-authenticity/articleshow/99560443.cms">AI-generated images and videos: A game-changer or a threat to authenticity?</a>

You Searched For "ED notice" and got 13 results

Shilpa Shetty and Raj Kundra's money laundering case takes new turn as they challenge the ED's eviction notices

PTI

ED issues look out notice against Byju Raveendran: Sources

ANI

SC to hear plea related to insolvency proceedings against ed-tech firm Byju's on Sept 17

PTI

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

PTI

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

PTI

Fresh summons issued to Singham in NewsClick money laundering case

PTI

CBI to arrest Kejriwal in few days, will serve him notice by evening: AAP

PTI

Flipkart's Sachin Bansal moves Madras High Court challenging ED notice

PTI

'Red Notice' director explains how the Ed Sheeran cameo was pulled off

Jason Guerrasio

ED send notices to crypto firms — CoinSwitch, CoinDCX to probe any foreign exchange violations

IANS

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

PTI

Enforcement Directorate conducts searches against Franklin Templeton in Mumbai, Chennai

PTI

K'taka HC rejects plea by Chinese firm Xiaomi challenging ED

IANS

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