Liquor co may start exporting directly through parent Heineken’s global distribution net. According to sources, ED is investigating at least five companies in India and overseas for their alleged association with embattled liquor baron Vijay Mallya. On July 24, the ED had raided Ultimate Branding Worldwide, run by Mallya’s former executive assistant V Shashikant.
The agency is probing alleged illegal purchases of certain properties of the Sir Mohammad Yusuf Trust at Worli, in south-central Mumbai, by Mirchi; ED believes the purchases are “proceeds of crime, and were later sold by Mirchi to two builders through agents.
According to a person in the know, the MCA’s probe has indicated a suspicious diversion of more than Rs. 2,000 crore by certain erstwhile directors and key managerial executives.
A report prepared during the time of the Devendra Fadnavis govt lists only 56 out of a total 641 cases as serious. The list does not include cases linking prominent activists to the Elgaar Parishad event.
Nirav is the second businessman after Vijay Mallya to be declared a fugitive economic offender under provisions of the new Fugitive Economic Offenders Act, which came into existence in August last year. Nirav and his uncle Mehul Choksi are the prime accused in PNB fraud case, related to alleged fraudulent issuance of LoU that caused a loss of over $2 bn to the PSB.
As per Mumbai Police, 23 PMC bankers and clients took Rs 70 crore a week before RBI's clampdown.
According to the police, Rakesh and Sarang Wadhawan of real estate firm HDIL, who are among the accused in the case, had allegedly tampered with the bank’s core banking solution to operate 44 password-protected accounts. Overdrafts disbursed by the bank to these accounts eventually made it to the accounts held by HDIL or its promoters, the police had alleged.
Investigators specifically probing the role of Goyal in alleged irregularities at what was once the country’s largest airline are looking into more than 5,000 bills raised by operation creditors, including aircraft lessors, maintenance agencies and general sales agents (GSAs). They suspect most were bogus and raised through entities related to Goyal or associates.
The tax department wants to ascertain whether the Rs 49.9 crore invested by Mauritius-based Firstland Holdings in 0.001% compulsory cumulative preference shares issued by NuPower Renewables was a genuine transaction.
Both Mumbai Police and the Enforcement Directorate (ED) are are probing allegations pertaining to loans sanctioned by MSC Bank and investigating the actions of more than 70 politicians— 50 from the Nationalist Congress Party (NCP), including its chief Sharad Pawar and his nephew Ajit Pawar, 9 from the Congress, 2 from the Shiv Sena and 1 from BJP
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