ED serves notice on Ernakulam Press club
The ED, in a notice served to the secretary of the Press Club, has also sought details of the utilisation of funds received from Mavunkal, who is facing criminal charges. The agency has further asked for the expenses incurred for the family meet organised by the organisation in 2020. In addition to the event-related expenses, the ED has sought the bank account details of the Press Club. Mavunkal and others are also under investigation under the Prevention of Money Laundering Act.
Confirming the receipt of the notice, an office-bearer of the organisation said the club had not received any funds from Mavunkal. He added the Press Club would act on the notice after obtaining a legal opinion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
21 minutes ago
- Hans India
ED files FEMA complaint against SIMPL over Rs 913 crore FDI violation
Bengaluru: The Enforcement Directorate's Bengaluru Zonal Office has filed a complaint against One Sigma Technologies Pvt Ltd (SIMPL) and its Director Nitya Nand Sharma for contravention of the Foreign Exchange Management Act to the tune of Rs 913 crore (Rs 913,75,88,062), an official statement said on Wednesday. The enquiries in the matter were initiated on the basis of credible information that SIMPL has received a substantial amount of Foreign Direct Investment (FDI) from the US, allegedly in violation of the extant FDI policy, the ED statement said. The ED investigation under the provisions of the FEMA revealed that the firm runs its business through mobile application named SIMPL. It provides Buy Now Pay Later services which allowed its customer to buy now and pay later in instalments, the ED said. Further, it was learnt that One Sigma Technologies Pvt Ltd received FDI to the tune of Rs 648,87,76,480 and issued Convertible Notes to the tune of Rs 264,88,11,582 under the 100 per cent automatic route by declaring its business activity as "Benefits of Information Technology and other computer service activities", the ED said. "During the course of investigation under FEMA, 1999, the business model and revenue generation model of M/s One Sigma Technologies Pvt Ltd were examined, and the same revealed that M/s One Sigma Technologies Pvt Ltd is into the business activities which fall under financial activities." "However, as per circular, dated October 20, 2016, issued by the RBI, FDI in financial activities not regulated by any authority is to be brought under the 100 per cent approval route. Further, in activity where government approval is necessary for receiving FDI, any startup company can issue convertible notes only with the approval of the government of India. However, M/s One Sigma Technologies Pvt Ltd has issued convertible notes without obtaining any approval from the government of India," the ED said. "M/s One Sigma Technologies Pvt Ltd (SIMPL) has received FDI under automatic route and issued convertible notes under automatic route without obtaining prior approval from the government of India and thereby contravened the provisions of FEMA, 1999, collectively to the tune of Rs 913,75,88,062 and rendered itself liable to be proceeded under section 13 of FEMA, 1999." "In view of the above, a complaint under section 16 (3) of FEMA, 1999 is filed before the Adjudicating Authority under FEMA," the ED added.
NDTV
an hour ago
- NDTV
Rana Daggubati Seeks More Time From Probe Agency In Betting App Case, Gets New Date
Hyderabad: The Enforcement Directorate has given a fresh date of August 11 to actor Rana Daggubati after he failed to appear on Wednesday for questioning in a money laundering case linked to illegal online betting and gambling by certain platforms, official sources. The sources said the 40-year-old sought deferment of the summons and Daggubati has now been asked to depose on August 11, they said. The federal probe agency had last week issued summons to four actors to appear on different dates at the agency's zonal office here for questioning in the case. Apart from Daggubati, actor Prakash Raj (60) was summoned to appear on July 30, Vijay Deverakonda (36) on August 6 and Lakshmi Manchu (47) on August 13, the sources had said. A total of 28 actors, celebrities, social media influencers and the management personnel of these apps have been booked by the ED as part of this money laundering investigation. The actors are being probed for "promoting" the online betting apps that are allegedly involved in generating "illicit" funds. Once they appear, the agency will record their statements under the provisions of the Prevention of Money Laundering Act (PMLA), they said. The Enforcement Directorate (ED) has taken cognisance of as many as five Telangana police FIRs to register its case against these actors and a number of other celebrities and social media influencers. These individuals are suspected to have "endorsed" online betting apps like Junglee Rummy, JeetWin, Lotus365, etc, for celebrity or endorsement fee, according to ED sources. These platforms are alleged to have generated "illicit" funds, through illegal betting and gambling, worth crores of rupees, the sources said. Some of these "well-known" persons, the sources said, have earlier stated that they did not know the exact functioning of the apps and products dished out by them and claimed they did not associate themselves with these platforms for any wrongdoing or illegal activity like betting (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Delhi HC grants bail to NewsClick founder in ED, EOW foreign funding case
The Delhi High Court on Wednesday granted anticipatory bail to NewsClick Editor-in-Chief and founder Prabir Purkayastha in two cases — one filed by the Enforcement Directorate (ED) for alleged money laundering, and the other by Delhi Police's Economic Offences Wing (EOW) related to foreign funding, Live Law reported. Justice Neena Bansal Krishna delivered the order, closing the bail pleas filed by Purkayastha in 2021. Along with Purkayastha, the court also granted anticipatory bail to NewsClick Director Pranjal Pandey in the EOW FIR linked to the same allegations. In June 2021, Purkayastha was given interim protection from arrest in these matters. The court had extended that protection multiple times since then. Funds from China were used illegally In May last year, the Delhi Police informed a local court that Purkayastha had allegedly channelled funds from China into India to incite the 2020 Delhi riots, run a misinformation campaign during the Covid-19 pandemic, support the farmers' protest, and finance terrorism-related activities in Kashmir, news agency PTI had reported. These claims were made in a charge sheet submitted before Additional Sessions Judge Hardeep Kaur. According to the charge sheet, Purkayastha allegedly provided salaries to several individuals associated with activist Teesta Setalvad. It also mentioned that the role of activist Gautam Navlakha is currently under investigation in connection with the same matter. The final report further stated that Navlakha was a shareholder in NewsClick, and protected witnesses have testified that he acted as a conduit for funding and supplying arms and ammunition to a banned Naxalite organisation. ED raided NewsClick offices in 2021 The Enforcement Directorate had searched the offices of NewsClick and the homes of its editors in February 2021. The raids were part of its investigation into a money laundering case, where it also carried out search and seizure actions. Investigating agencies have accused PPK Newsclick Studio Pvt. Ltd of allegedly violating foreign direct investment (FDI) rules. The company is suspected of receiving FDI by inflating its share value, which helped it bypass the cap set under FDI regulations. ED launched probe after EOW FIR After taking note of the FIR filed by the Economic Offences Wing, the Enforcement Directorate started its own investigation. It followed this up with search operations in relation to the case.
