Latest news with #PMLA
Time of India
18 minutes ago
- Business
- Time of India
‘Substantial evidence': ED opposes bail for ex-min Mahesh Joshi in JJM scam
Jaipur: The Enforcement Directorate (ED) Tuesday opposed the bail plea of former public health engineering department (PHED) minister Mahesh Joshi, who is currently in jail in connection with the multi-crore Jal Jeevan Mission (JJM) scam. At a hearing in a special court for cases under the Prevention of Money Laundering Act (PMLA), the ED submitted that it had substantial evidence against Joshi, alleging that the proceeds of the crime were funnelled into a company owned by his son. The court will hear the matter on Thursday. On May 27, Joshi's counsel senior advocate Vivek Raj Bajwa had contended in the court that the former minister was not named in the initial FIR lodged by the anti-corruption bureau (ACB) and argued that the ED failed to trace any proceeds of the crime back to him. Bajwa had argued that Joshi was being falsely implicated due to political rivalry. In response, ED's lawyer Ajatshatru S Mina Tuesday pointed to the four FIRs filed in the case by various govt investigation agencies, including one each by the Jaipur police and the Central Bureau of Investigation (CBI), and two by the ACB. Mina told court that Joshi was named in one of these FIRs, which formed the basis of ED's enforcement case information report (ECIR). Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Provence-alpes-cote-d'azur: Voici l'astuce pour avoir des panneaux solaires sans payer l'installation ! Programme Ecologique Undo He elaborated on Joshi's alleged role in facilitating the approval of fraudulent bills for Shree Ganpati Tubewell Co and Shree Shyam Tubewell Co, and claimed he exerted undue influence on PHED officials to secure tenders based on a forged IRCON certificate. The ED further accused Joshi of directly benefiting from the scam's financial gains, which were reportedly invested in his son's company. Mina alleged that Joshi orchestrated the entire scam through an associate, Sanjay Badaya, and accused the proprietors of both tubewell firms of threatening PHED officials to ensure compliance of their demands, warning them of departmental transfers if they failed to do so. Joshi was arrested on April 24 when he appeared for questioning following a notice from the ED.
Indian Express
5 hours ago
- Business
- Indian Express
‘Loan for purchase of machinery re-routed', ED files prosecution complaint against Gujarat-based cold storage company
The Ahmedabad zonal office of the Enforcement Directorate (ED) on Tuesday said it has filed a Prosecution Complaint (PC) in the matter of M/s Avon Cold Storage Private Limited under the provisions of the Prevention of Money Laundering Act (PMLA) before the PMLA Special Court on May 31, adding the court has taken cognisance of the matter. The ED, in a statement on Tuesday, said it had initiated its investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI) and the Anti-Corruption Bureau (ACB), Gandhinagar, against M/s Avon Cold Storage Private Limited, its directors, and other private persons and public servants, alleging that the accused persons had, in criminal conspiracy, allegedly cheated the Union Bank of India (UBI) by means of falsification of records and providing false/forged documents, dishonestly availing the loan facility. The ED claimed its investigation revealed that the term loan facility was availed by M/s Avon Cold Storage Private Limited from Union Bank (earlier known as Andhra Bank) after allegedly producing bogus proforma invoices from another company. 'These credit facilities were extended for purchase of plant and machinery for setting up of a cold storage unit. However, the amount was not utilised for that purpose. The term loan was re-routed through different entities and withdrawn in cash to the tune of Rs 3.92 crore, leaving no money trail behind. The funds were further utilised for purposes other than stated in the loan agreement,' said the ED statement. The ED also said it had earlier provisionally attached movable and immovable properties valued at Rs 1.30 crore in the case, adding further investigation is under progress.
Hindustan Times
a day ago
- Business
- Hindustan Times
Centre curtails tenure of ED special director Satyabrata Kumar
NEW DELHI: The Appointments Committee of Cabinet (ACC) has curtailed the tenure of the Enforcement Directorate (ED) special director, Satyabrata Kumar and repatriated to his parent cadre, the Central Board of Indirect Taxes and Customs. Kumar, a 2004 batch officer of the Indian Revenue Service (Customs and Indirect Taxes), was shifted as Special Director of Enforcement (SDE) of ED's eastern region in Kolkata in September 2024 and was previously based in Mumbai. '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 said. Kumar joined 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 federal agency till October 2026. Officials said it was likely that Kumar was being brought back to his parent cadre for an important assignment in view of his investigation skills and track-record in handling complex economic offences. Some of the high profile cases investigated by ED under his supervision include ₹12,500-crore Punjab National Bank (PNB) case 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; alleged terror-financing cases against the deceased narcotics trafficker, Memon Iqbal Mohammed or Iqbal Mirchi; 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.
Time of India
a day ago
- Time of India
Bribery case: Won't arrest ED assistant director for now, state govt tells Kerala high court
Kochi: The state govt has submitted before HC that assistant director Sekhar Kumar of the Enforcement Directorate (ED) in Kochi, would not be arrested in the alleged bribery case till June 11. The submission was made by the additional director general of prosecution (ADGP) during the hearing of Kumar's pre-arrest bail plea, which was adjourned by the bench of Justice P G Ajith Kumar to that date after the prosecution sought more time to obtain instructions from the state. The court also recorded the assurance given by the ADGP. The case, registered by the vigilance department, alleges that Kumar demanded a bribe of Rs 2 crore from Aneesh Babu, a Kollam-based cashew businessman, through two middlemen, in exchange for halting an ED investigation against him. Earlier, a case under the Prevention of Money Laundering Act (PMLA) had been registered against Babu, based on an FIR alleging that he collected advance payments from local traders by promising to supply imported cashew nuts at prices below international rates, but failed to deliver. Subsequently, two individuals, Wilson Varghese and Mukesh Kumar, allegedly approached Babu on behalf of the ED officer and demanded Rs 2 crore to stop the investigation. Acting on Babu's complaint, vigilance officials arrested both middlemen. During interrogation, they named Sekhar Kumar, leading to his arraignment as the first accused. Sekhar Kumar, however, contends that there is no evidence linking him to the arrested individuals. He maintains that he has been falsely implicated with ulterior motives and vexatious intent.
United News of India
a day ago
- United News of India
ED raids 7 locations in 3 states in PMLA case
Chennai, June 2 (UNI) The Directorate of Enforcement (ED), Delhi Zonal Office has conducted search operations at seven locations in Delhi, Mumbai and Bengalore in an ongoing investigation under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The raids were against Bedanshu Sekhar Mishra, the then officer in the Punjab and Sind Bank, his associates and key management persons of gaming platporm As a result of the searches, ED has seized cash amount of Rs. 39 lakh along with various incriminating materials including digital evidences, multiple mobile phones and SIM cards being used for online gaming, etc, according to an official release. Further, during the search proceedings, ED has frozen total amount of Rs 1.5 crore in 48 mule accounts being used by gaming platform. The ED initiated investigation on the basis of FIR registered by CBI, ACB, New Delhi, under various sections of IPC, 1860, PC Act 1988 and IT Act, 2000 against Bedanshu Shekhar Mishra and others. Investigations revealed that Bedanshu Shekhar Mishra while being posted as officer in the Punjab and Sind Bank, Khalsa College Branch, North Campus, Delhi University has reportedly misused his official position for carrying out fraud by conducting unauthorized transactions by breaking/liquidating 46 fixed deposit accounts of several customers primarily fixed deposit accounts in the name of SGTB Khalsa College, Delhi University. Thus, he committed fraud and forgery with the bank as well as several account holders of the bank and misappropriated/siphoned public money to the tune of Rs. 52.99 crore entrusted with the bank. It is revealed during the investigation that he has transferred the Proceeds of Crime (POC) amounting to Rs. 24 crore (approx.) to online gaming platforms such as The POC was transferred by the accused to these online gaming companies through various mule accounts arranged by the online platform owners. Earlier, the ED has provisionally attached movable and immovable properties of worth Rs. 2.56 crore of Bedanshu Shekhar Mishra and others associates u/s 5 of PMLA. 2002. Further investigation is under progress UNI GV 1945
