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The Economic Times



INX Media PMLA case: ED questions Karti Chidambaram again

The investigating officer of the case recorded the statement of Karti, a Congress MP from Tamil Nadu''s Sivaganga, under the Prevention of Money Laundering Act (PMLA).

INX Media PMLA case: ED 'grills' Karti chidambaram again

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ED arrests NRI businessman Thampi in PMLA case linked to property deals

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  • Tony Fernandes and others stand booked by the Central Bureau of Investigation (CBI) on charges of criminal conspiracy under the Prevention of Corruption Act. The Enforcement Directorate (ED) is also probing allegations of money laundering. CBI registered the FIR on May 29, 2018 following a case registered by the ED on charges of money laundering.

    The case pertains to alleged losses suffered by Air India due to the alleged multi-crore aviation scam and irregularities in fixing air slots for international airlines.

    The company, the agency said in a statement, "had availed fund-based and non-fund based financial assistance from a consortium of 13 banks led by Canara Bank and later on defaulted in repayment of loans to the tune of Rs 2,107 crore."

    The case pertains to the accused fraudulently availing loans, in connivance with others, from a consortium of banks and subsequent default of loans to the tune of Rs 1,768 crore, ED said in a statement said. "Investigation so far has unearthed 33 shell companies and more than forty contractors in this case," the ED said.

    ED has filed an application urging the PMLA tribunal to vacate the stay clamped by the appellate authority in August 2019 on any “coercive action” by the central agency against Vadra and his company, Sky Light Hospitality Pvt Ltd, said people aware of the matter. ED had attached the house, registered in the company’s name, in February last year.

    A special purpose court dealing with money laundering offences has allowed banks that lent money to Vijay Mallya to utilise the embattled li...

    In what can be seen as another blow to former ICICI BankNSE -1.11 % MD and CEO Chanda Kochhar, the Enforcement Directorate (ED) provisionall...

    According to sources, Chanda Kochhar's flat in Mumbai, certain shares and investments have been attached by the investigating agency. Deepak Kochhar's business properties too were attached by the ED. The ED has registered a criminal case under the PMLA in 2019 against Chanda Kochhar, Deepak Kochhar, Venugopal Dhoot of Videocon Group and others.

    Government is hesitant to allow these nonbanks direct access to the UIDAI database.

    A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya also asked the ED to clarify about its role after the attachment of assets of Bhushan Power and Steel Ltd (BPSL). The NCLAT has directed to list the matter on December 12 for the next hearing. The appellate tribunal was hearing a batch of petitions, against the attachment of BPSL assets.

    The Prevention of Money Laundering Act (PMLA) court in Mumbai also said the ruling has been stayed till January 18, until which all parties affected by the order could appeal to the Bombay High Court. The seized assets mainly comprise financial securities, such as shares.

    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.

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