Tenure of ED special director who led Nirav, Choksi probes curtailed
The Appointments Committee of Cabinet (ACC) has curtailed the tenure of the Enforcement Directorate (ED) special director, Satyabrata Kumar, who for the past 10 years led several high profile money laundering probes including against Nirav Modi, Vijay Mallya, Mehul Choksi, former Yes Bank founder Rana Kapoor and Mahadev Online Book app swindle, according to an order issued last week but made public on Monday.
A 2004-batch officer of the Indian Revenue Service (customs and indirect taxes), currently posted as the special director of enforcement (SDE) of the federal agency's eastern region headquartered in Kolkata.
'The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Revenue for curtailment of deputation tenure of Satyabrata Kumar, IRS(C&IT:2004), Special Director of Enforcement, Directorate of Enforcement and his consequent repatriation to his parent cadre with immediate effect,' the ACC order, issued on May 30 stated.
Kumar had joined the ED in 2013 as its joint director in Mumbai and handled high profile cases while heading the Mumbai's units. He was given an extension in 2022 to serve in the agency till October 2026.
While the exact reason for curtailment of his tenure was not disclosed, officials hinted that Kumar may be given another important assignment at the Centre considering his investigation skills and track-record in handling complex economic offences.
Some of the high profile cases investigated by ED under his command include ₹12,500-crore Punjab National Bank (PNB) scam involving accused fugitive diamantaires Nirav Modi and Mehul Choksi; the alleged ₹9,200 -crore bank loan cases involving fugitive liquor baron Vijay Mallya's defunct airline firm, Kingfisher Airlines Limited; ED's alleged money laundering and terror financing cases against the deceased narcotics trafficker, Memon Iqbal Mohammed or Iqbal Mirchi; ED's PMLA case against Yes Bank founder Rana Kapoor, who is an accused in the Yes Bank-Dewan Housing Finance Corporation Limited (DHFL) transactions; and the agency's PMLA probe related to the USD 1 million-plus Mahadev Online Book (MOB) illegal online betting/gaming cases.
Kumar's team had tracked Nirav Modi in London, long before a UK daily caught up with the absconding diamond trader during a stroll there.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
Curb cybercrime in N Chotanagpur: IG
1 2 Bokaro: The inspector general (IG) of North Chotanagpur zone, Kranti Kumar, on Thursday directed the police officials from six districts — Bokaro, Dhanbad, Hazaribag, Chatra, Koderma, and Ramgarh — to formulate a comprehensive strategy to tackle organised crime, cybercrime, drug trafficking , and Maoist activities. IG Kumar said, "Police personnel will receive advanced hi-tech training to deal with complex digital fraud and cyber frauds." He stressed upon the need for a strong surveillance mechanism against drug mafias and human trafficking networks and crack downs. "Intensify combing and intelligence operations to restore civilians' confidence in the forces and ensure people's safety in Naxal-hit areas," he urged the personnel, emphasising the importance of people friendly policing and community trust.
The Hindu
an hour ago
- The Hindu
Old careers continue to remain relevant, say experts
At the webinar on 'Emerging Careers 2030: Why Humanities and Sciences Hold the Key', organised jointly by SRM Institute of Science and Technology and The Hindu, experts emphasised that relatively old careers continue to remain relevant. Pro Vice-Chancellor at SRM Institute of Science and Technology Vinay Kumar and Founder and CEO, Inomi Learning, Gurugram, Richa Dwivedi Saklani spoke of the several emerging career opportunities for students studying sciences or humanities. Mr. Kumar said that while AI, green economy and sustainability, logistics and e-commerce, and healthcare and life sciences were emerging fields, as mentioned in the World Economic Forum's Future of Jobs Report 2025, existing careers would not change much in the future. He said jobs such as journalism, Human Resources, and corporate communications would remain important. Responding to his observation that India had specific problems such as growing urban development and an ageing society, which required tailored solutions, Ms. Saklani said people who would mull such solutions would require skills in technology, entrepreneurship, and the humanities. Both speakers stressed the importance of acquiring inter-disciplinary skills. Ms. Saklani said that while people in the sciences need to learn how to handle people effectively and identify talent, those in the humanities need to be more open to using technology, new software, and AI. Mr. Kumar emphasised writing persuasively, critical thinking, and empathy as important skills of the present and future. 'When people get trained in multiple disciplines, their thinking changes in a fundamental way,' he said, adding that the National Education Policy stressed on multi-disciplinary education. The speakers also said internships were important in expanding CVs. Mr. Kumar said several companies now request universities to send students to work with them. He said SRM had even reduced course work so that students could take up internships. 'But companies need to work with universities to make these internships meaningful,' he stressed. Ms. Saklani said Inomi encouraged students to get internships as it helped them 'build skills in a live environment with the support of mentors.' Internships, she said, helped students to 'hit the ground running' when they enter the job market. The discussion was moderated by Radhika Santhanam. This webinar can be viewed at
The Hindu
3 hours ago
- The Hindu
ED initiates action against RR Industries under FEMA
The Chennai Zonal Office of the Directorate of Enforcement (ED) has issued seizure order of Rs.16.19 crore of immovable property belonging to RR Industries. The order was issued under Section 37A of FEMA, 1999. In a press release, the ED said it had initiated investigation on the private company under the provisions of Foreign Exchange Management Act, 1999, on the basis of preliminary investigations conducted by this office into RR Group Companies wherein it was observed that outward remittance to the tune of Rs.16.19 crore was made by Hanudev Investment Private Limited (HIPL) as overseas direct investments into RR Industries Singapore, a Singapore registered company. As the investments did not comply with the RBI Guidelines and FEMA Regulations, the ED investigation revealed that HIPL established a company named RR Industries Singapore (RRISPL) and invested Rs. 16.19 crore under the pretext of engaging in mineral trading, particularly coal in Indonesia and surrounding regions. However, investigation revealed that no actual assets were created through this investment, and there were no genuine efforts made by HIPL or its group companies to repatriate the funds back to India. The investment was directed into an Indonesian company Novem Coal Resources (NCR), managed by Ramnath, a cousin of R. Ravi of HIPL. When questioned, Ravi failed to provide any credible documentation or explanation regarding the operations or returns from NCR over the past 14 years. The investment was eventually written off in the books of HIPL without any justification, and Ravi's explanation that it was done based on advice due to uncertainty over mine ownership was deemed unconvincing. These actions suggest a deliberate attempt by Ravi, HIPL, and their associates to park funds overseas for personal gain while evading regulatory scrutiny. Additionally, statements from Build India Capital Advisors LLP support the claim that this was a clear case of fund diversion to a foreign entity controlled by the accused individuals.
