Tag: Enforcement Directorate

Enforcement Directorate arrests three vivo-India executives in money laundering probe
23Dec By adminNo Comments
Technology

Enforcement Directorate arrests three vivo-India executives in money laundering probe

[ad_1] The Enforcement Directorate has arrested three vivo-India executives in connection with its money laundering probe against the Chinese smartphone-maker and some others, official sources said on Saturday.Interim CEO of vivo-India Hong Xuquan alias Terry, Chief Financial Officer (CFO)Harinder Dahiya and consultant Hemant Munjal have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), they said. We are now on WhatsApp. Click to join. The federal agency had earlier arrested four people -- mobile company Lava International's MD Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik -- in the case. They are in judicial custody at present.The ED had filed a charge-sheet against these four...
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Historic setback for China! India orders biggest fund seizure ever- Xiaomi’s 5551 crore
1Oct By adminNo Comments
Technology

Historic setback for China! India orders biggest fund seizure ever- Xiaomi’s 5551 crore

[ad_1] The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over ₹5551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi -- the highest amount frozen till date in India -- the ED said Friday. The agency charged the popular Chinese phone maker with remitting foreign currency equivalent to ₹5,551.27 crore to three entities -- one Xiaomi Group company and two US-based unrelated entities -- in the guise of royalty. The Enforcement Directorate (ED) had first issued the order of seizure of these bank deposits on April 29 under the FEMA and later sent it for approval of the competent authority, as required under the law that regulates foreign exchange violations in the country. "The competen...
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Bank accounts frozen by ED don’t belong to Paytm, clarifies company
16Sep By adminNo Comments
Technology

Bank accounts frozen by ED don’t belong to Paytm, clarifies company

[ad_1] Fintech solutions provider One 97 Communications, which operates the popular payment platform Paytm, dismissed reports that said its bank accounts were frozen after recent raids by the ED in connection with the Chinese loan app case. Fintech solutions provider One 97 Communications, which operates the popular payment platform Paytm, dismissed reports that said its bank accounts were frozen after recent raids by the Enforcement Directorate (ED) in connection with the Chinese loan app case. "... As mentioned in our exchange filing, ED instructed us to freeze certain amount from MIDs of specific merchant entities and none of these funds belong to Paytm or our group companies," the Paytm said in a tweet. Earlier on Fr...
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Heaps Of Cash Found At Kolkata Firm In Raid, Counting Machines Busy
10Sep By adminNo Comments
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Heaps Of Cash Found At Kolkata Firm In Raid, Counting Machines Busy

[ad_1] The case stems from a first information report, or FIR, of the Kolkata Police filed against the companyKolkata: A search operation by the Enforcement Directorate (ED) has led to the recovery of at least Rs 17 crore from the premises of a businessman in Kolkata. The anti-money laundering agency has raided six locations in Kolkata including one in Garden Reach area, where the ED has brought in cash-counting machines to count the amount recovered.The search started this morning and counting of cash is still underway at the premises of Aamir Khan, who ED officials say is not cooperating with the agency. The ED had taken up the investigation of the mobile gaming app fraud based on a case registered by the Kolkata Police.Visuals of the raids show stacks of currency notes mostly in the R...
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What Centre Told Supreme Court On Extension Of Probe Agency Chief’s Term
7Sep By adminNo Comments
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What Centre Told Supreme Court On Extension Of Probe Agency Chief’s Term

[ad_1] New Delhi: The tenure of the Enforcement Directorate (ED) chief has been extended in public interest as various cases are at a crucial juncture and continuity of officers is required for their proper and expeditious disposal, the Centre has told the Supreme Court.The finance ministry has informed the top court in an affidavit that a freshly appointed person may take time to take stock and acclimatise to the working of the new organisation."Extension in the term of the director of ED beyond two years and up to a maximum of five years was necessitated from the administrative standpoint wherein continuity of the head of the organisation is required for several cases which are at a crucial juncture and require historical knowledge and background for supervision of such cases. "Continu...
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Enforcement Directorate Raids Residences Of Punjab Excise Officials
6Sep By adminNo Comments
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Enforcement Directorate Raids Residences Of Punjab Excise Officials

[ad_1] Probe agency raided the residences of the Punjab excise commissioner and a joint commissioner.Chandigarh: A team of Enforcement Directorate officials on Tuesday raided the residences of the Punjab excise commissioner and a joint commissioner, sources said.However, it could not be ascertained in connection with which cases these raids were conducted.The ED sleuths conducted searches at IAS officer and Punjab Excise Commissioner Varun Roojam's residence in Sector 20 here and that of joint commissioner (excise) Naresh Dubey in Haryana's Panchkula.Both Roojam and Dubey were said to have worked on framing Punjab's excise policy which was implemented from July. The Aam Aadmi Party formed the government in Punjab in March this year.Roojam and Dubey could not be immediately contacted.The ...
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Former NSE Chief Ravi Narain Arrested In Money Laundering Case
6Sep By adminNo Comments
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Former NSE Chief Ravi Narain Arrested In Money Laundering Case

[ad_1] New Delhi: The Enforcement Directorate on Tuesday arrested former National Stock Exchange CEO and MD Ravi Narain in a money laundering case, officials said.His role is being investigated by the federal probe agency as part of two criminal cases linked to the bourse - the alleged co-location 'scam' case and the purported illegal phone tapping of employees.Narain is understood to have been arrested in the tapping case, under the criminal sections of the Prevention of Money Laundering Act (PMLA).He was the managing director and chief executive officer of the exchange from April 1994 to March 31, 2013, and was later appointed as vice-chairman, in the non-executive category, on the National Stock Exchange (NSE) board from April 1, 2013, to June 1, 2017, when he resigned.The ED had earl...
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Enforcement Directorate Raids In Multiple States In Delhi Excise Policy Scam Case
6Sep By adminNo Comments
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Enforcement Directorate Raids In Multiple States In Delhi Excise Policy Scam Case

[ad_1] Around 30 premises in Delhi, Telangana, Maharashtra, Haryana, UP and Karnataka being searchedNew Delhi: The Enforcement Directorate today conducted searches at multiple locations spread across Delhi and five states as part of a money laundering investigation into alleged irregularities in the Delhi Excise Policy, officials said.Delhi Deputy Chief Minister Manish Sisodia and some bureaucrats have been named as accused in the alleged scam related to the Delhi excise policy, which has now been rolled back.Around 30 premises in Delhi, Telangana, Maharashtra, Haryana, Uttar Pradesh and Karnataka are being searched and private individuals named in the case are being raided, the officials said.But these do not include premises linked to Manish Sisodia or any other government servant, the...
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Paytm, Razorpay Searched In Bengaluru In Probe Into Chinese Loan App
5Sep By adminNo Comments
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Paytm, Razorpay Searched In Bengaluru In Probe Into Chinese Loan App

[ad_1] Late last month, the agency also raided premises of CoinSwitch KuberBengaluru: The Enforcement Directorate searched the premises of online payment companies including Razorpay Pvt Ltd, Cashfree Payments and Paytm Payment Services Ltd as part of a probe into a Chinese loan app.The probe agency conducted the search operations in the tech hub Bengaluru on Friday amid allegations of extortion and harassment of customers involving the Chinese app, according to an e-mailed statement from the investigation agency on Saturday."During inquiries, it has emerged that these entities are controlled/operated by Chinese persons," it said. They forged documents of Indians, making them "dummy directors" of the companies that were generating proceeds of crime through merchant accounts held with pay...
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Court Grants Relief To Tamil Nadu Minister In Job Recruitment Scam Probe
3Sep By adminNo Comments
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Court Grants Relief To Tamil Nadu Minister In Job Recruitment Scam Probe

[ad_1] The writ petition of minister sought to quash the summons dated April 29 this year. (File)Chennai: The Madras High Court has restrained the Enforcement Directorate (ED) from proceeding further against Tamil Nadu Electricity Minister V Senthil Balaji and two others in connection with an alleged job recruitment scam.A division bench of Justices T Raja and K Kumaresh Babu granted the relief while passing final orders on the writ petitions from B Shanmugam, R V Ashok Kumar and Senthil Balaji on Friday.The writ petition of Mr Balaji sought to quash the summons dated April 29 this year issued by the ED as illegal, unconstitutional, and non est in the eye of law and consequently declare the investigation in the case against him in 2021 as illegal and unconstitutional.The first petitioner...
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