ED raids in Delhi-NCR, Punjab in bank loan 'fraud' case
The money laundering case stems from a CBI FIR alleging cheating a consortium of banks led by the IDBI Bank to the tune of Rs 988 crore by the promoters of SCTL and their associates
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United News of India
33 minutes ago
- United News of India
Tripura CM reiterates a zero-tolerance stand to drug trafficking
Agartala, June 25 (UNI) Tripura Chief Minister Dr Manik Saha on Wednesday reiterated his zero-tolerance stand against drug traffickers as central and state governments took a firm stance against drugs. He said that drug seizures in Tripura have increased by 104% from 2023–24 to 2024–25, while drug destruction has seen a rise of 132%. Police, security forces, and other concerned agencies are actively working against drug trafficking. He urged cross sections of society to unite and fight against the drug menace while addressing a motorcycle rally on the occasion of the International Day against Drug Abuse and Illicit Trafficking as part of Drug-Free India campaign. The United Nations declared this day as International Day against Drug Abuse and Illicit Trafficking in 1987 to prevent drug abuse and raise awareness about illegal drugs. Tripura is geographically surrounded by international borders on three sides and shares boundaries with Assam and Mizoram, which makes the state prone to a drug smuggling network. 'Tripura's children are being targeted, and the state is being used as a corridor to traffic drugs into Bangladesh. Today's slogan—'Say No to Drugs'—is extremely important. Drug traffickers are smuggling drugs for money, and our children are falling prey to it. But it is not their fault. When it comes to Tripura, they become victims. These victims are in dire need of treatment,' he said. Dr Saha added that for this purpose, the state government decided in the last budget to open drug de-addiction centers in all eight districts. About Rs 20 crore has been allocated for each center, and an additional Rs 198 crore has been sanctioned by DoNER to set up a larger drug de-addiction center in Tripura. It has been observed that those who use injectable drugs are mostly affected by HIV/AIDS. UNI BB GNK
United News of India
35 minutes ago
- United News of India
ED confiscated properties of over Rs 636 cr in Bengal school service scam
Kolkata, June 24 (UNI) The Enforcement Directorate (ED) has confiscated movable and immovable property of Rs. 27.19 crore belonging to arrested Prasanna Kumar Roy, a middle man, allegedly involved in the West Bengal Central School Service Commission (Group C & D staff) recruitment scam of 2016, official sources said. The property was held in the name of three tea estates of Prasanna Kumar Roy. The tea estates are Samsing Organic Tea Pvt Ltd, Yangtong Organic Tea Pvt ltd and Bamandanga Tea Estate Pvt Ltd. The attached properties consist of bungalows, factories, plants & machineries and a fleet of vehicles. "These properties were acquired from the cash collected from various undeserving candidates for their illegal appointments to the post of Group-C & D staff," the ED statement said. The Supreme Court in an order on April 3 quashed the appointments of more than 25,000 teaching and non-teaching staff by the West Bengal Central SSC terming the entire selection process as vitiated and tainted. The Central investigation agency said it unearthed those confiscated properties during its probe on the basis of two FIRs registered by the CBI in the matter of illegal appointment of Group 'C' and 'D' employees to the undeserving, non-listed and below-ranked candidates and depriving the deserving and genuine candidates. The allegation includes appointment without maintaining fairness, in criminal conspiracy by various persons and by flouting the relevant Rules. The ED has earlier attached properties worth Rs 219.91 crore in this case of Group C & D staff recruitment scam and arrested Prasanna Kumar Roy (the main middleman involved in the collection of money and details from candidates) and Chandan Mondal (main agent of Prasanna Kumar Roy) and both are in judicial custody. In a related case of assistant teacher recruitment scam (SSC Asst. Teachers 9th to 12th), the ED has earlier attached properties worth Rs. 238.78 crore. In another case of primary teachers recruitment scam, the ED has already attached/seized properties worth Rs. 151 crore. The total attachment by ED Kolkata in the recruitment scam cases now stands at Rs 636.88 crore, the agency said. UNI PC PRS
Business Standard
36 minutes ago
- Business Standard
Globe Civil Projects IPO subscribed 15.26 times
The offer received bids for 17.90 crore shares as against 1.71 crore shares on offer. The initial public offer of Globe Civil Projects received bids for 17,90,07,336 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (25 June 2025). The issue was subscribed 15.26 times. The issue opened for bidding on 24 June 2025 and it will close on 26 June 2025. The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 211 equity shares and in multiples thereof. The public issue comprises entirely of a fresh issue of up to 1,67,60,560 equity shares of a face value of Rs 10 per equity share. Of the net proceeds from the fresh issue, Rs 75 crore will be used to fund working capital requirements, and Rs 14.255 crore will go towards capital expenditure on the purchase of construction equipment/machinery. The balance is for general corporate expenses. Global Civil Projects, promoted by Ved Prakash Khurana, Nipun Khurana, and Vipul Khurana, is a New Delhi-based integrated EPC company engaged in transport, social, and commercial infrastructure construction. With a strong presence in educational and railway infrastructure, it has completed 37 projects across 11 states and is currently executing 13 projects. As of March 31, 2025, its order book stood at Rs 669.10 crore. The company also operates through joint ventures and derives a major share of revenue from government clients like the CPWD. Ahead of the IPO, Globe Civil Projects on Monday, 23 June 2025, raised Rs 35.69 crore from anchor investors. The board allotted 50.28 lakh shares at Rs 71 each to 6 anchor investors. The firm reported a consolidated net profit of Rs 17.79 crore and total income of Rs 254.66 crore for the nine months ended on 31 December 2024.
