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Tag: enforcement directorate

  • No investigation by ED: Paytm

    No investigation by ED: Paytm

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    One97 Communications, the parent company of Paytm, on Sunday clarified that there has been no investigation by the Enforcement Directorate on the company, its associates and/or its founder and CEO for anti-money laundering activities.

    “Neither the company nor its founder and CEO are being investigated by the Enforcement Directorate regarding inter alia money laundering. In the past, certain merchants/users on our platforms have been subject to enquiries and on those occasions, we have always cooperated with the authorities. During any such investigations by the authorities on any set of merchants/users in the past, we have cooperated with them on these investigations. This has been previously disclosed to the stock exchanges,” One97 said in a stock exchange filing.

    “We would like to set the record straight and deny any involvement in anti-money laundering activities. We have and continue to abide by Indian laws and take regulatory orders with utmost seriousness,” it added.

    The clarification comes amid media reports that claimed that the recent action by the RBI was linked to investigations by the ED.



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  • ED arrests Deccan Chronicle’s T Venkattram Reddy, PK Iyer for bank fraud

    ED arrests Deccan Chronicle’s T Venkattram Reddy, PK Iyer for bank fraud

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    The Enforcement Directorate (ED) has arrested T Venkattram Reddy and PK Iyer, promoters and ex-directors of Deccan Chronicle Holdings Ltd (DCHL), and their auditor Mani Oommen on charges of siphoning off funds to the tune of ₹9,805 crore sought under the pretext of business expansion.

    Funds were diverted to invest in the now defunct Deccan Chargers franchise of the Indian Premier League (IPL), for purchase of a private aircraft by Reddy and a fleet of high-end cars worth more than ₹30 crore by Iyer, the ED alleged.

    Investigation revealed that Reddy, Chairman of DCHL, along with the other promoters/directors, and in connivance with the statutory auditor, defrauded the banks and NBFCs. “DCHL availed 111 credit facilities from 16 public sector and private banks to the tune of ₹9,805 crore on the pretext of working capital/business expansion requirements. However, these loans were taken by DCHL on the basis of fabricated books of accounts and the company did not disclose its correct loan liabilities to the banks,” the ED alleged.

    DCHL and its promoters and directors understated the financial charges and overstated advertising revenues to consistently defraud the banks for obtaining new loans, the probe agency said.

    “In complete violation of the loan terms & conditions, DCHL utilised 73 per cent of the loan amounts only for the cyclical repayment of existing loans. Eventually, the loans turned into non-performing assets and DCHL defaulted on principal loans of around ₹3,000 crore and caused a total loss of ₹8,180 crore to the banks and other financial creditors, the ED alleged.

    The bank money was also paid to charitable trusts, withdrawn and illegally returned to Deccan Chronicle promoters in cash. The company is accused of declaring and distributing dividends by showing fictitious profits and through that illegal route the promoters, two-third shareholders, pocketed around ₹143 crore among themselves.

    They also allegedly rinsed “₹253 crore for buy-back of shares with an intent to bolster the stock prices and to project a financially rosy picture”. Earlier, the ED had attached movable and immovable properties of DCHL and its promoters and directors amounting to ₹386.17 crore in this case.

    Shakti Bhog Foods case

    In another case, the ED has provisionally attached 59 immovable and movable properties including 53 plots, commercial shops, industrial plots, agricultural land located at Delhi, Noida, Sonepat (Haryana), Jalandhar (Punjab), Hyderabad. Cash in bank accounts of ₹28.67 crore belonging to Sunil Dhupar, former CA and statutory auditor of Shakti Bhog Foods Ltd (SBFL), and his family members/companies, Indeep Singh Arora and his family members and accommodation entry operator Devender Kumar have also been attached under the Prevention of Money Laundering Act (PMLA), 2002, the ED. said

    The ED initiated probe on the basis of an FIR registered by the CBI against Shakti Bhog Foods Ltd and others, for criminal conspiracy, cheating and criminal misconduct resulting in bank fraud of ₹3269.42 crore.

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  • New CCTV clip from Tihar Jail shows AAP minister meeting jail chief, guests

    New CCTV clip from Tihar Jail shows AAP minister meeting jail chief, guests

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    Bharatiya Janata Party has again released a CCTV video of jailed Aam Aadmi Party minister Satyendar Jain where he can be seen hosting guests, including the now-suspended Tihar Jail superintendent. In the 10-minute video, Jain can be seen interacting with three people while resting on his bed. A few minutes later, Ajit Kumar, superintendent of jail number seven at that time, walks in and interacts with Jain. The video was recorded on September 12 around 8 pm.  

    BJP leaders shared the purported video of Jain meeting the jail superintendent on social media accounts just ahead of the civic elections in Delhi, and state polls in Gujarat.

    “Have this new video of honest minister Jain. Jail superintendent’s attendance in the court of jail minister at 8 pm,” Delhi BJP media cell head Harish Khurana tweeted and shared the CCTV camera footage.

    Last week, the Delhi unit of BJP released another video where he was seen getting massages done and enjoying other special facilities in the jail. On Tuesday, Jain moved a special court seeking restrain on CCTV footage or details of Tihar Jail.

    Reacting to the video, AAP leaders have said BJP has been trying to defame Delhi CM Arvind Kejriwal ever since AAP launched its campaign in Delhi ahead of the civic polls.

    AAP Convenor and Delhi Chief Minister Arvind Kejriwal have accused the ruling party of misusing central agencies for its benefit and going after its leaders to harm them in polls.

    Jain, 58, was arrested on May 30 by the Enforcement Directorate, which had initiated the money-laundering investigation in the case based on an FIR filed by the CBI on August 24, 2017. Last week, AAP leader Satyendar Jain’s bail request was rejected by a Delhi court in the alleged money laundering case. This is for the second time Jain’s bail plea was rejected by the court. In May this year, his bail plea was rejected citing that the allegations are serious.

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  • ‘Even Ajmal Kasab got…’: Satyendar Jain defends viral massage video, says no rules violated

    ‘Even Ajmal Kasab got…’: Satyendar Jain defends viral massage video, says no rules violated

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    Delhi Minister Satyendar Jain, who is currently in jail on charges of money laundering, on Tuesday told a trial court that he has not been getting proper food and medical check-up in Tihar Jail and has lost around 28 kg weight in custody. 

    He also alleged that the Enforcement Directorate (ED), which is investigating the minister, is leaking sensitive information to the media despite the order of the court and undertaking given in this court.

    Jain was referring to a video in which he is seen taking massage from a person inside the jail.   

    “I am defamed every single minute by their act,” Jain submitted to the court through his counsel Rahul Mehra.

    Mehra also denied the claims that Jain was getting privileged treatment in Tihar Jail. 

    “I have lost 28 kg in jail. Is this what a privileged person in jail gets? I’m not even getting proper food. What privilege are they talking about? No prison rules are violated if an undertrial is pressing his hand or feet,” Jain was quoted as saying by the news agency ANI.

    Mehra also submitted that the probe agencies have already put Jain on the gallows. He said even Ajmal Kasab got a free and fair trial and Jain was surely not worse than him. 

    “Even Ajmal Kasab got a free and fair trial. I am surely not worse than that. All I seek is a fair and free trial. Please look at the kind of media reports that are running against him and that is in their interest,” Mehra submitted to the court.

    Last week, Jain moved the special court with an application seeking contempt action against the ED. He alleged that the central agency has leaked the CCTV videos despite the undertaking given in the court. 

    Today, ED’s advocate Zohaib Hossain denied the leak allegations and said that the agency will see that guilty are brought to justice. He said presuming a leak on the agency’s behalf is preposterous. He said there has been no leak and there will be no leak by the agency.

    With inputs from ANI

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  • AAP minister Satyendar Jain gets massage in jail; BJP leaders tweet CCTV video

    AAP minister Satyendar Jain gets massage in jail; BJP leaders tweet CCTV video

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    The ruling Bharatiya Janata Party (BJP) has accused Aam Aadmi Party leader Satyendar Jain, who has been in Delhi’s Tihar Jail since May this year, of enjoying a luxurious life inside the jail. On Saturday morning, several BJP leaders shared a video which shows Delhi Minister Satyendar Jain enjoying a foot massage inside the Tihar jail.  

    The CCTV footage captures the minister lying on his bed and reading something from a piece of white paper while a man sitting next to him can be seen giving him a foot massage. The video has gone viral. 

    Earlier this week, the Superintendent of Delhi’s Tihar Jail was suspended for alleged VIP treatment of the minister. Jain is imprisoned in a money laundering case. 

    The action was taken after the Lieutenant Governor of Delhi constituted an inquiry committee to look into the matter. Jailed conman Sukesh Chandrashekhar accused the Superintendent of jail of extending undue favours to the minister.

    Commenting on Jain’s luxurious life inside the prison, BJP spokesperson Shehzad Poonawalla said: “So instead of Sazaa – Satyendra Jain was getting full VVIP Mazaa? Massage inside Tihar Jail? 

    In a video message, Poonawalla said: “All the jail manual rules are thrown in the dustbin as VVIP treatment is given to Satyendar Jain. Head massage, foot massage, on multiple days and VVIP facilities like allowed to lounge, read paper and also gets mineral water inside jail. This is not given to any other prisoner but this person who has not got bail for the last five months is being given this kind of treatment (sic).” 

    On Friday, AAP leader Satyendar Jain’s bail request was rejected by a Delhi court in the alleged money laundering case. This is for the second time Jain’s bail plea was rejected by the court. In May this year, his bail plea was rejected citing the allegations are serious. 

    The Delhi minister, 58, was arrested on May 30 by the Enforcement Directorate, which had initiated money-laundering investigation in the case on the basis of an FIR filed by the CBI on August 24, 2017. 

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  • ED Director Sanjay K Mishra gets another one-year extension

    ED Director Sanjay K Mishra gets another one-year extension

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    The Union government on Thursday extended by one year the tenure of ED Director Sanjay Kumar Mishra, according to an official order. The order issued by the Personnel Ministry said the 1984-batch Indian Revenue Service (IRS) officer has been given an extension till November 18, 2023.  

    Mishra, 62, was appointed director of the Enforcement Directorate (ED) for a period of two years by an order on November 19, 2018. Later, by an order of November 13, 2020, the appointment letter was modified retrospectively by the Central government, and his term of two years was replaced by three years.

    The government last year brought an ordinance allowing the tenure of the directors of the ED and the Central Bureau of Investigation (CBI) can be extended by up to three years after the mandated term of two years.  

    Mishra was subsequently given a one-year extension and then, his second. “The Appointments Committee of the Cabinet has approved an extension in tenure of Shri Sanjay Kumar Mishra, IRS (IT:84006) as Director of Enforcement in the Enforcement Directorate for a period of one year beyond 18.11.2022, ie upto 18.11.2023 or untill further orders, whichever is earlier,” the Thursday order said.

    The ED functions under the Union Finance Ministry and it enforces the criminal provisions of the Prevention of Money Laundering Act (PMLA), the Fugitive Economic Offenders Act that was brought by the Modi government in 2018, and the civil sections of the Foreign Exchange Management Act (FEMA). 

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