Latest news with #ShravanGupta
Time of India
3 days ago
- Business
- Time of India
AgustaWestland: Delhi high court rejects plea by Emmar-MGF promoter for adjournment
Representative image NEW DELHI: In the politically significant AgustaWestland VVIP chopper scam case, Delhi HC on Wednesday rejected a plea from fugitive Shravan Gupta, promoter of Emaar-MGF who fled to London in 2019, seeking further adjournment of his case relating to non-bailable warrant against him and that he be allowed to appear before ED through video conferencing in view of his inability to return to India. Pulling up his counsel for misleading the court repeatedly, the court refused to grant any further adjournment while reserving its order on the plea of quashing the non-bailable warrant. ED argued before Justice Neena Bansal that Gupta had failed to appear for questioning despite nine summonses issued to him since 2019. Two days after he wrote to ED (on Nov 24, 2019) seeking "some time to join the investigation" on grounds of ill health, with a doctor's prescription advising six days rest to him, Gupta had fled to London and not returned since then, sources said. Rejecting Gupta's adjournment request, Justice Bansal said the matter had already been argued by both sides on two previous occasions, and on each date after the arguments, senior counsel (for Gupta) Vikas Pahwa had sought time to get instructions from his client regarding his return to India to join the investigation. Such conduct is "unbecoming of a senior advocate", the judge said while pointing out that the counsel had been seeking repeated adjournments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giá vàng đang tăng mạnh trong năm 2025 — Các nhà giao dịch thông minh đã tham gia IC Markets Tìm hiểu thêm Undo Gupta is accused of receiving kickbacks from AgustaWestland intermediaries for influencing the VVIP chopper deal worth Rs 3,600 crore, sealed during the UPA regime. "Shravan Gupta received proceeds of crime in Natille Overseas Inc, Switzerland; Timekeeper Ltd, British Virgin Islands; Hall Park Holdings Ltd, UK, etc which are beneficially owned by him," the ED had said earlier, and has filed 12 chargesheets in the case, including against Gupta in 2022. Probe found that a Mauritius-based shell firm received bribes in the deal signed with Agusta SPA, Italy. Bribes were laundered to India allegedly through Gupta's shell entities and shared with IAF officials, bureaucrats and politically exposed persons through a complex web of transactions.
News18
3 days ago
- Business
- News18
Delhi HC Slams Shravan Gupta's Delay Tactics In AgustaWestland Chopper Scam Case
Last Updated: Gupta, a key accused in the case, sought to join the investigation via videoconferencing, citing his absence from India since 2019 The Delhi High Court has reserved its judgment on Shravan Gupta's plea to quash non-bailable warrants (NBWs) issued against him in connection with the Rs 3,600 crore AgustaWestland VVIP chopper scam. Gupta, a key accused in the case, sought to join the investigation via videoconferencing, citing his absence from India since 2019. Court's Observations The court was unimpressed with Gupta's tactics, noting that his senior advocate's conduct was 'unbecoming" and that the strategy of securing repeated adjournments was intended to stall proceedings. Justice Neena Bansal observed that both parties had already argued the matter on two previous occasions, and Gupta's legal team had sought more time to 'take instructions". Allegations Against Gupta The Enforcement Directorate (ED) alleges that Gupta played a pivotal role in designing and operating a sophisticated web of offshore companies to move illicit funds linked to the chopper deal. Gupta, former managing director and executive vice chairman of Emaar MGF Land Limited, allegedly used shell companies to launder Rs 28.7 crore in proceeds of crime. Investigation and Attachment of Assets The ED's investigation has revealed that Gupta established offshore shell companies in tax havens, through which proceeds of crime were routed. The agency has attached properties worth Rs 21 crore belonging to Gupta and is focusing on the final destination and use of the laundered money. The Delhi High Court's judgment is expected to pave the way for further action against Gupta, who has been evading the law since 2019. The ED's efforts to bring Gupta to justice may gain momentum, and the agency may pursue extradition efforts to secure his return to India. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
3 days ago
- Business
- Time of India
VVIP chopper case: Delhi HC reserves order on MGF chief Shravan Gupta's plea against non-bailable warrants
The Delhi High Court on Wednesday reserved its order on a plea filed by Shravan Gupta , chairman of Delhi-based real estate developer MGF Group and a co-accused in the Rs 3,600 crore AgustaWestland VVIP chopper case, seeking quashing of non-bailable warrants (NBW) issued against him for not joining a money laundering investigation being carried out by the ED in the said case. Gupta's counsel informed the Delhi High Court that his client, who is currently in the UK, will not be able to join the investigation physically owing to his ill health. He said that Gupta can, however, join the ED investigation via video conferencing. Explore courses from Top Institutes in Select a Course Category Project Management Finance Healthcare CXO Digital Marketing Artificial Intelligence Technology Others Operations Management Leadership Degree MBA Design Thinking healthcare Data Analytics Public Policy PGDM Cybersecurity Data Science others Product Management Management Data Science MCA Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details The ED told the court that Gupta failed to join the investigation despite issuance of nine summons by the agency in 2019-2020. The federal agency submitted that Gupta is willfully evading investigation and issuance of non-bailable warrants against him since he is required for "further investigation" in the AgustaWestland scandal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Only Classless Women Wear these Over a Certain Age Learn More Undo It might be mentioned here that a special court here in August 2020 had issued NBW against Gupta which was later stayed by the Delhi High Court on Gupta's plea. Since then the stay on NBW is prevailing. The ED has alleged that offshore entities beneficially owned and controlled by Gupta received proceeds of crime to the tune of Euro 1,912,000 and $3,457,180 (Rs 28,69,94,650) in the VVIP chopper scandal. Live Events
News18
3 days ago
- Business
- News18
AgustaWestland VVIP Chopper Scam: ED Eyes 'Kingpin' Shravan Gupta As Court Slams His Evasion Tactics
Last Updated: Gupta's alleged role as a financial conduit in the scam has been a central point in the case, which once rocked India's defence procurement establishment The Enforcement Directorate (ED) has upped the pressure on Shravan Gupta, one of the key accused in the AgustaWestland VVIP chopper scam case, after the Delhi High Court refused to quash a non-bailable warrant against him. Gupta, who was once at the helm of affairs at Emaar MGF Land Limited as managing director and executive vice chairman, has been accused of laundering over Rs 28.6 crore in kickbacks routed through a complex offshore network. Gupta's alleged role as a financial conduit in the scam has been a central point in the case, which once rocked India's defence procurement establishment. The ED's case now hinges on Gupta's close association with co-accused Gautam Khaitan and Guido Haschke, who orchestrated the bribery trail in the AgustaWestland chopper deal. According to the agency, Gupta helped channel illicit funds. 'Offshore entities beneficially owned and controlled by Shravan Gupta have received proceeds of crime to the tune of Euro 1,912,000 and USD 3,457,180 (Rs. 28,69,94,650-) in the Agusta Westland VVIP Chopper Scam," ED said in a statement. The directorate added that Shravan Gupta had left the country in 2019 when asked to join the investigation by the directorate on the pretext of medical issues and has since been in London despite multiple summonses and warrants. 'Open ended non-bailable warrant was issued against Shravan Gupta by the special court in August, 2020. Red Corner Notice (RCN) has also been issued against Shravan Gupta in 2023," added ED. Through his shell firms abroad, Gupta allegedly acted as a financial bridge between middlemen and beneficiaries. Despite being summoned multiple times, Gupta chose to stay in London from 2019, citing medical grounds. On July 16, Gupta's counsel sought another adjournment, proposing a virtual appearance. But Justice Neena Bansal of the Delhi High Court expressed sharp disapproval, calling the repeated delays and evasion tactics 'unbecoming of a senior advocate" and reserved the matter for judgment. The ED has already attached Gupta's properties worth Rs 21 crore under the Prevention of Money Laundering Act (PMLA), and investigations into the end use of the illicit money are still underway. Gupta was formally made an accused in a supplementary prosecution complaint filed in February 2022, and cognisance was taken by the PMLA court in March 2022. Significantly, ED's pursuit of Gupta marks a renewed push in the long-drawn AgustaWestland case. With the financial trail now being meticulously mapped and the net tightening around fugitives abroad, the ED appears to be driving the case to its logical conclusion. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
&w=3840&q=100)
Business Standard
3 days ago
- Business
- Business Standard
AgustaWestland case: HC reserves order on accused Gupta's plea to quash NBW
The Delhi High Court on Wednesday reserved its verdict on a plea filed by businessman and AgustaWestland case accused Shravan Gupta who sought quashing of a non-bailable warrant in a money laundering case probed by the ED, officials said. A Prevention of Money Laundering Act (PMLA) court had issued an "open ended" NBW against him in August 2020. Gupta is alleged to have left for the UK (London) in 2019 after the federal probe agency summoned him for questioning. An Interpol Red Notice was issued against him in August 2023. The ED filed a supplementary chargesheet in February 2022 naming Gupta as an accused in the VVIP chopper case. It has attached assets worth Rs 21 crore in the probe as part of two money laundering investigations against Gupta, director of real estate company MGF Developments. The second PMLA case against is over Rs 180 crore. According to officials, Justice Neena Bansal Krishna on Wednesday heard Gupta's plea of quashing the NBW issued against him. The judge rejected the request of Gupta's counsel for adjourning the case and reserved the matter for judgment, they claimed. Gupta's legal team informed the court that their client is ready to join the investigation via a video conference link and they have also moved a fresh application seeking the court's permission for allowing the same, they said. The court observed the counsel for the petitioners have been seeking repeated adjournments in the matter and such a conduct was not expected from them, the officials claimed. Senior advocate Vikas Pahwa, representing Gupta, argued in court that his client was unable to come to India "at this stage" owing to certain medical conditions and he was ready to join the investigation via video conferencing which is permissible in law. He said the court reserved its verdict on the applications including the one for attending the probe virtually. The ED has alleged that offshore entities "beneficially owned and controlled" by Gupta received "proceeds of crime" worth more than Rs 28.69 crore (Euro 1,912,000 and USD 3,457,180) in the Rs 3,600 crore AgustaWestland VVIP Choppers "scam". In a statement issued in January, the ED had said it was "pertinent to mention that Shravan Gupta is also an accused in the ED case of AgustaWestland helicopter scandal and has fled the country." Gupta was the managing director and executive vice chairman of Emaar MGF Land Limited between 2005-2016. It is alleged by the ED that during this time, Gupta came into contact with another accused in the case Gautam Khaitan, who later introduced him to Guido Haschke (an alleged middleman and an accused in the same case). Gupta, as per ED's case, created offshore corporate structures to "launder" proceeds of crime generated by Khaitan and Haschke as "kickbacks" from the VVIP choppers deal. On January 1, 2014, India scrapped the contract with Finmeccanica's British subsidiary AgustaWestland for supplying 12 AW-101 VVIP choppers to the IAF over alleged breach of contractual obligations and charges of kickbacks to the tune of Rs 423 crore paid by the firm for securing the deal.
