Tiger Logistics (India) standalone net profit rises 1.73% in the June 2025 quarter
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India Today
26 minutes ago
- India Today
ED raids 17 locations, seizes Rs 110 crore in Rs 3,000 crore money laundering case
The Enforcement Directorate (ED) conducted raids across 17 locations throughout the country in connection with a money laundering probe. The raids were conducted in Mumbai, Delhi, Noida, Jaipur, Surat, Madurai, Kanpur and Hyderabad as part of an ongoing probe in the case of Cyprus-based illegal online betting platform Parimatch. During the raid, bank accounts with funds totalling to nearly Rs 110 crore were seized by the officials and frozen. Further, various incriminating documents and digital devices have been found and seized during the raids. advertisementThe ED initiated the investigation on the basis of an FIR registered by the Cyber PS, Mumbai against for duping users through online betting platform Parimatch. As per the investigation, the investors were duped of Rs 3,000 crore in a year. During the raids, it was revealed that Parimatch routed users' funds through mule accounts using different strategies across the country. In one case, funds deposited by users into mule accounts were withdrawn in cash in a specific locality in Tamil Nadu. This cash was handed over to hawala operators, who used it to recharge virtual wallets of a UK-based company. These wallets were then used to buy USDT cryptocurrency in the name of mule crypto accounts, which were actually operated by Parimatch agents. In Western India, Parimatch engaged the services of domestic money transfer (DMT) collected in mule accounts and controlled by these DMT agents were sent to PariMatch agents through payments made by mule Credit Cards. A total of more than 1,200 such credit cards were found and seized from a single premise. The ED investigation also uncovered that payment companies whose applications for Payment Aggregator licences were rejected by the RBI, offered their services to Parimatch in the garb of technology service providers (TSPs) and offered their API (Application Programming Interface) to facilitate user fund collections. These TSPs offered the APIs to Parimatch agents who onboarded mule accounts opened in the name of e-commerce companies and payment solution provider companies for collection of funds from users. The money so collected through UPI transfers was layered and transferred out in the garb of e-commerce refunds, chargebacks, vendor payments, etc. effectively concealing the actual flow and purpose of funds. Parimatch gained visibility through aggressive marketing, including sponsorship of sports tournaments and partnerships with well-known celebrities. They also set up Indian entities to run surrogate advertisements under the names 'Parimatch Sports' and 'Parimatch News.' Payments to these agencies were made via foreign inward remittances. Further investigation is under progress.- EndsMust Watch
Time of India
32 minutes ago
- Time of India
Four Hinjewadi IT firm employees booked for stealing data
Pune: The Pimpri Chinchwad cyber police on Wednesday registered a case of cheating against four employees of an IT company in Hinjewadi for stealing the firm's confidential data and causing it a loss of Rs 82 crore. The fraud occurred between April 2024 and Aug this year. An official from the IT firm lodged a complaint with the Pimpri Chinchwad cyber police on Wednesday. Assistant inspector Pravin Swami of the cyber police told TOI that the complainant stated that the four employees, including a woman, stole the company's source codes and software solutions and formed a new firm. "By using the codes and software solutions, these employees developed over 100 websites and generated revenue illegally," Swami said. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune | Gold Rates Today in Pune | Silver Rates Today in Pune The officer said the complainant stated that this act caused a loss of Rs 82 crore to the company. A case was registered under sections 316 (criminal breach of trust) and 318 (cheating) of the Bharatiya Nyaya Sanhita (BNS) and the Information and Technology Act. "Our investigations are on," the officer said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Independence Day wishes , messages , and quotes !
Time of India
an hour ago
- Time of India
Chitrakoot link e-way gets govt nod for land acquisition
Lucknow: Clearing another hurdle to expedite development work in Bundelkhand region, state govt gave its go-ahead to UP Expressways Industrial Development Authority (UPEIDA) to spend Rs 188.6 crore on acquiring land required for construction of Chitrakoot Link Expressway. A total of 9.52 hectares private land needs to be aggregated in the Karvi sub-division. On Jul 22, Yogi Adityanath govt cleared a budget of Rs 940 crore for the 15-km long expressway, out of which Rs 188.6 crore will be utilised to acquire last few land parcels before starting civil work. Though the 296-km long Bundelkhand Expressway already connects Etawah to Chitrakoot via Banda, Mahoba, Hamirpur, Jalaun and Auraiya, another spur route is being provided in the district to attract investors interested in setting up a unit under the defence corridor or under the integrated manufacturing and logistics cluster, the two flagship schemes floated by UPEIDA for industrial development. Moreover, the link route would also bring down commute time to Karwi, the district headquarters. The authority has surveyed Ranipur Bhatt, Gonda and Ahmadganj villages to scout for the remaining land and put up a proposal before the state to take over the required land parcels. Officials said the spur route would result in increasing vehicular movement on Bundelkhand Expressway as an increased number of motorists from Madhya Pradesh would ply via the 296-km long high-speed corridor to travel within UP and to Delhi and the National Capital Region. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Independence Day wishes , messages , and quotes !
