Latest news with #Tibrewal
India Today
14-07-2025
- Business
- India Today
Mahadev betting app case: Companies owned by Vikas Garg under ED scanner
The Directorate of Enforcement (ED), investigating the Mahadev Betting app money laundering case, uncovered earlier this year how the mastermind of the betting network, Harishankar Tibrewal through Foreign Portfolio Investment (FPI) had invested in several listed Small and Medium Enterprises (SME) purpose of doing so was to manipulate stocks, artificially inflate the stock prices of SME companies in which FPI investments were made. Once the share prices rose, they were dumped and Tibrewal and his accomplices would double or sometimes triple their per sources, the acquisition of Nasdaq-listed Ebix Incorpotated, last year, by an Indian firm, Eraaya Lifespaces, which is promoted by one Vikas Garg, is now under the radar of the anti-money laundering agency. The suspicion by the agency is regarding the funds raised for the acquisition of Ebix Inc. by Eraaya Lifespaces. Ebix Inc. was acquired by Eraaya Lifespaces last year through funds raised from multiple channels and officials, as per sources, also flagged the meteoric rise in the share prices of Eraaya Lifespaces and asked Bombay Stock Exchange officials to investigate it. The suspicion is over the funds raised and later used for the are multiple such SME listed and unlisted companies, promoted and run by Vikas premises were also searched when multiple other companies and linked properties were searched on April 16 by ED of Garg's promoted companies which are under investigation are Vikas Lifecare Limited, Vikas Ecotech Limited, Advika Finvest, Advika Capital Limited and investigations revealed that Tibrewal had, through FPI, made investments in multiple firms owned by then, Garg has been issued multiple summons by ED officials to join investigations in the case. Earlier Garg's companies were under investigation by the Income Tax Investigation Wing, GST and few other other companies under investigation in the case have also been asked to join investigations, which include firms like Ease My Trip, IITL, JTL Industries, Gensol and others. The Securities and Exchange Board of India (SEBI) also has been informed by ED officials regarding manipulation of shares and artificial inflation of proximity to Tibrewal is also being probed by agency officialhttps:// Acquisition attempts for a club in the United Arab Emirates (UAE) were also under the other companies where Tibrewal had invested through FPI, the promoters of many of those companies, are known to Garg has so far carried out around 170 raids across the country and several companies, persons and entities in the Mahadev Betting app case and assets worth over rupees 3000 crores in property, cash and movable properties have been attached, including demat accounts and share holdings.- EndsTune InMust Watch
Mint
25-06-2025
- Business
- Mint
Pushpa Jewellers IPO: Here's date, price band, GMP and other details
B2B jewellery maker Pushpa Jewellers initial public offering (IPO) is all set to open for subscription on June 30. The SME segment IPO will remain open for bidding till July 2. The jewellery maker company has set price band at ₹ 143 - ₹ 147, with a face value of ₹ 10. The IPO is a book-built issue totaling ₹ 98.65 crore. It comprises a fresh issue of 53.70 lakh shares worth ₹ 78.94 crore and an offer for sale of 13.41 lakh shares amounting to ₹ 19.71 crore. The minimum lot size for an application is 1000. The minimum amount of investment required by retail investors is ₹ 1,43,000. The allotment for the Pushpa Jewellers IPO is likely to be finalized on Thursday, July 3. The IPO is set to be listed on the NSE SME platform, with a tentative listing date scheduled for Monday, July 7. The net proceeds from the IPO will be utilized to finance the establishment of the proposed new showroom, including the capital expenditure cost and inventory cost for the showroom, funding working capital requirements and general corporate purpose. The anchor portion will open on June 27, 2025 and issue will close on July 02. Affinity Global Capital Market Private Limited is the book-running lead manager of the Pushpa Jewellers IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Pushpa Jewellers IPO is Sunflower Broking Private Limited. 'Our journey began with a clear vision to craft timeless jewellery that blends tradition with elegance. Over the years, we have not only built a strong presence across India but have also taken our designs to international markets through our growing export business. Today, we are proud to be recognised for our design excellence, quality craftsmanship, and customer trust," said Anupam Tibrewal, Managing Director of Pushpa Jewellers. Tibrewal further added, " The proceeds will support the establishment of a new showroom, enabling us to strengthen our retail footprint and offer an enriched customer experience. This expansion is part of our broader plan to scale operations, explore untapped markets both domestic and overseas, and further solidify our position in the jewellery industry." The shares of Pushpa Jewellers is currently not trading in the grey market. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Pushpa Jewellers Limited is a Wholesaler jewellery maker in the B2B segment with a presence across India. The Company is one of the leading jewellery manufacturers specializing in both traditional and modern gold jewellery. It offers a wide range of gold jewellery, incorporating fine stones like Emerald, Jade, Pearl, and Meena. In FY24, the company reported a revenue of ₹ 25,534.28 lakhs, an operating EBITDA of ₹ 1,987.50 lakhs, and a profit after tax (PAT) of ₹ 1,357.70 lakhs. In FY25, the company's performance improved, with revenue rising to ₹ 28,106.07 lakhs, operating EBITDA increasing to ₹ 3,175.59 lakhs, and PAT growing to ₹ 2,228.63 lakhs.
Telegraph
26-04-2025
- Health
- Telegraph
How to look after arthritic knees
When it comes to osteoarthritis (OA), our knees are most vulnerable; the most complex joints in the body, constructed with four bones and an extensive network of ligaments and muscles, carrying our full body weight. An estimated 5.4 million people in the UK are living with knee OA, but we still don't know the cause. It's not a simple case of 'wear and tear'. Genetics play a role, as well as gender – it's more common and severe in women – and injuries, such as sports injuries earlier in life or hard physical labour. 'At its base level, OA is inflammation of a joint, a cycle of wear and failure of repair,' explains Mr Saket Tibrewal, a consultant trauma and orthopaedic surgeon at the Cromwell Hospital, who specialises in the knee. 'Any joint damage causes inflammation, then you get the release of fluid which carries enzymes which damage the cartilage itself.' Cartilage is the smooth, slippery tissue that cushions the end of our bones to allow them to move freely against each other. The more damaged it becomes, the greater the reaction to further damage – the more fluid, the more enzymes. 'Over time, these cycles get progressively worse.' How can we halt it? Anyone concerned by OA knee pain should first get a diagnosis to establish the state of the joint and, if it is OA, how much cartilage is left. When it comes to self-management, it won't be possible to reverse, but there are steps that might prevent further deterioration and certainly control symptoms. 'If you get it right, you might be able to get through all your active life with a little bit of pain but avoiding surgery,' says David Vaux, the head of therapies and exercise at Arthritis Action and author of Stronger. 'If you get it wrong, and especially if you do too much, you potentially accelerate your journey towards a knee replacement.' So what might help? The best supplements for knee pain Turmeric ' Turmeric is a natural anti-inflammatory,' says Tibrewal. 'I tell my patients to take it and for some, it really works.' Curcumin, one of its active components, has anti-inflammatory properties similar to that of non-steroidal anti-inflammatories and a BMJ review of studies of turmeric or curcumin on knee OA found that all recorded improvements in pain and function. Glucosamine 'This plays a role in building cartilage and might delay it's breakdown,' says Tibrewal. 'Again, not everybody is going to feel a benefit, but some do.' While some research has found that glucosamine reduces OA knee pain, other studies showed little improvement. Chondroitin 'This can nourish the joint and improve cartilage health,' Tibrewal explains. According to the charity Versus Arthritis, chondroitin has been tested in more than 20 randomised controlled trials and many have shown significant clinical benefits in pain reduction. Although, again, evidence is mixed. Vitamin D ' Vitamin D supplements are important for general bone health,' notes Tibrewal. It may also have anti-inflammatory effects and help maintain the immune system. Get the right footwear 'Your knee is affected by everything around it,' says Tibrewal. 'The ankles, hips, back and spine all feed into it. It's one whole chain and little imbalances anywhere can affect the knee. People who are flat-footed, or have an incorrect gait, for example will get good symptom relief by addressing that.' A doctor, occupational therapist, physiotherapist or podiatrist can all give advice here. For those with advanced knee arthritis, Nice guidelines recommend Apos, a foot worn device which looks like a trainer and redistributes pressure in order to reduce pain. (It's also available privately, often covered by medical insurance.) 'Insoles can make a big difference,' says Tibrewal. 'I also use a lot of knee bracing. For people who have a lot of wear in one part of the knee, special braces can push the leg straight and take away the pressure.' Finding the correct footwear is essential. Shoes should have thick soles, enough toe room, and good arch support. 'There should be enough cushioning to reduce the impact when you walk,' says Vaux. Listen to your knees 'Exercise is so important to strengthen the joint but if you feel pain doing something, it's a request for change,' says Vaux. 'Either you did it for too long or it's the wrong exercise for you. Anyone with OA needs to listen to their body and pace themselves far more than the person on the next treadmill or climbing the escalator in front of you who doesn't have OA. It's not fair but it's important to understand that. Exercise, like medicine, requires the correct dose and for that, you need a diagnosis first, and then a schedule where you 'train clever', not hard, doing less exercises but precise ones. We need a little bit of impact for strong bodies, but prolonged impact is detrimental.' How do you know if pain is 'healthy' post-exercise ache or a sign of damage? 'It's normal to have aches after training, but if the knee swells, if you're losing mobility, if it's pain that persists, you need to rest the knee,' Vaux continues. When it comes to training muscles around the knee, Vaux suggests twice a week is enough. 'But that's not a golden rule,' he adds. 'If you train on Monday and by Thursday, your knee is not feeling great, opt for something non-weight bearing, like cycling, or work on your core and upper body.' Lose weight 'Offloading the knee through weight reduction is first and foremost the most effective way to alleviate symptoms,' says Mr Rej Bhumbra, a consultant orthopaedic surgeon on the Knee Team at The London Orthopaedic Clinic. 'Four times our body weight goes through the knee joint, so even if a patient can lose 5kg, that means 20kg less on the knees. That slight change in weight makes a huge difference.' However, it isn't just about weight. 'It's the type of weight you have,' says Bhumbra. 'Is your body distribution more fat-based or muscle-based? Muscle bulk around the knee – good quads and hamstrings – offloads the knee.' Research by the Radiological Society of North America (RSNA) has shown that people with strong quads are less likely to need knee replacements. Sleep well and manage stress 'Sleep is when your body makes its repairs, so prioritise sleep and find ways to manage stress, whether it's breathing protocols or talking therapies or anything else,' says Vaux. Chronic stress and lack of sleep triggers inflammation and potentially exacerbates pain and the cycle of joint damage. 'If you're always in a state of arousal, our sympathetic nervous system keeps us on alert and the counterbalance, our parasympathetic nervous system, doesn't have a chance to help our body relax, recover and repair.' A review of 54 studies on the impact of chronic stress on arthritis, found that 41 showed it to be a risk factor for worsening pain and disease progression. Tailor your diet 'Eat your anti-inflammatories,' says Tibrewal. 'Get your omega-3 from oily fish.' The Mediterranean diet is anti-inflammatory while processed meats, sweets and sugary drinks are linked to higher inflammation. Protein is also important. 'As we age, our ability to absorb protein is reduced so we should be eating a little bit of protein with every meal,' says Vaux. 'The amino acids stored in our skeletal muscular tissue are the repository on which the body draws when recovering from injury and repairing. Stay flexible Synovial fluid, also known as joint fluid, is a thick, lubricating liquid found within the knee joint that reduces friction during movement and nourishes the cartilage and surrounding tissue. 'Joint health depends on a full range of motion in order to get synovial fluid feeding the surface of our articular cartilage,' says Vaux. 'If you lose 10 or 20 per cent of movement, you've lost 10 or 20 per cent of that nourishing fluid getting to those areas and that will accelerate wear and tear. Build in a simple night-time and morning stretch routine – you can do them when you're lying in bed.' These include: Knee rotations Lying on your back with your legs together and knees bent, slowly lower your knees to one side, staying within a comfortable range and not allowing your back to raise up. Bring your knees back to the middle, repeat to the opposite side. Doing so for 2 minutes, this should be slow and rhythmic. Crossover knee push Then cross your right ankle over your left knee. Using your right hand to gently press on your right knee, push your knee away from your body until you feel a slight stretch in your right hip and lower back. Then, gently pull your knee toward your belly button before pushing it away again. Continue this movement for one minute before swapping to the left side and repeat the movement. The best exercises for arthritic knees When it comes to exercise, low impact is important, such as swimming, cycling, cross-training, and rowing machines. 'If you really want to run, if you love to run, I'd recommend grass, not tarmac or treadmill and to limit it, mixing it up with other non-weight bearing cardio,' says Vaux. 'Brisk walking is excellent.' 'For strength training, you want to build all the muscles around your knees as a natural brace for that corseting effect, but you also want to strengthen the connective tissue, your ligaments, and tendons that stabilise the knee joint. Isometric exercises – which involve contracting muscles without moving the joint – are ideal for people with knee OA. They give you a really nice contraction without the impact that we want to avoid.' Static wall sit 'These are great for stabilising our knee joints,' says Vaux. 'Depending on your level, start with a slight bend in the knee leaning against the wall, then hold for 30 seconds. Over time, build up to a minute. When that becomes easier, bend your knees a further five degrees and so on. Build this habit into the dead times of your day, like waiting for the kettle or when you're on hold on your phone. Remember, if it hurts, go higher, or try another exercise.' Static hip bridge 'This is another great isometric exercise that builds tolerance in the muscle and ligaments of the knee,' says Vaux. 'It is also a good alternative if wall-sits make your knees sore.' Lie flat on the floorwith your legs bent. Drive through your heels to push your hips upwards as far as you can go. Slow motion sit down 'When you have got to sit down during the day, do it in slow motion every time to the count of 5 or 6,' says Vaux. 'This is an eccentric contraction and it's gold dust for building stability and preventing knee injuries and the kind of knee pain you experience when walking downstairs.' Alternate single leg box step-ups 'Build up to four sets of 10 on each leg and when that feels easy, put some bottled water into a pack on your back and build up to four sets of 10 again,' says Vaux. Using the staircase is also fine. Walking lunge 'Start with own body weight, building up to four lots of 10 lunges for each leg and when this is too easy, add some water bottles to your backpack and start again,' says Vaux. Single leg balance 'Balancing on one leg can be done anywhere, including waiting for a train or queuing at a check out,' says Vaux. 'Use a sink or table if you need a little more support.' Bouncing 'These are great for balance, muscle and bone health and without the knee impact of jumping,' says Vaux. Facing a desk, a table, kitchen top or sink, hold the surface in front of you with your hands shoulder width apart, bend your knees slightly, with feet shoulder width apart and gently bounce. Keep your back straight and looking up, letting your heels raise up but not letting your toes leave the floor. Start out with 20 bounces and build up to 50 bounces 3-4 times a week. Stronger:10 exercises for a longer healthier life by David Vaux is available now
Economic Times
22-04-2025
- Business
- Economic Times
ED may probe Gensol Engineering under anti-money laundering law
The Enforcement Directorate may launch an investigation into the alleged diversion of funds and financial misconduct by the promoters of Gensol Engineering Ltd, official sources said on Tuesday. The federal probe agency has also frozen a fresh few lakh shares in Gensol of a person being investigated in a separate case linked to the Mahadev betting app scam, they said. It is learnt that the ED is analysing the recent SEBI report that barred the promoter brothers of Gensol -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities market for various violations apart from accusations of siphoning off loan funds from their publicly listed company for personal use. The ED may initiate a probe under the anti-money laundering law to look into the diversion of funds and loss to investors of Gensol as stated in the SEBI report. The agency will also look for possible violations of the foreign exchange law that are investigated under the Foreign Exchange Management Act (FEMA), the sources told PTI. The Raipur office of the agency also froze, under the Prevention of Money Laundering Act (PMLA), a fresh few lakh shares in the company that are allegedly linked to some foreign portfolio investors (FPIs). The sources indicated that the shares were held by a company linked to a Dubai-based "hawala operator" being investigated in the Mahadev app case. The freezing action came after the ED carried out fresh searches in the Mahadev case on April 16 and said in a statement on Monday that it has frozen securities, bonds and demat accounts worth a total Rs 573 crore. The ED also said its probe found that the "proceeds of crime generated by the betting platform and its linked syndicates were being transferred out of India and later deployed in the Indian stock market in the name of FPIs based in Mauritius, Dubai, etc". The agency had frozen around five lakh shares of Gensol in February last year too as part of the Mahadev app probe. Gensol Engineering Ltd (GEL), in its regulatory filing for quarters ending March 2025 and December 2024, has said that the ED (Raipur office) holds a total of 5,20,063 shares which is 1.35 per cent of its shareholding. These shares were held by Zenith Multi Trading DMCC, an entity allegedly linked to Hari Shankar Tibrewal. The ED has earlier said Tibrewal is a Dubai-based "hawala operator" claiming he partnered with the promoters of Mahadev app in illegal operations for a betting website named 'skyexchange'. In March last year, the ED said that Tibrewal "used Suraj Chokhani (an accused in the case) to launder and hide proceeds of crime under the guise of share investment for Indian companies". "Searches at the premises of Chokhani in Kolkata found that the major source for these investments has been collected by way of receiving bank entries against cash in these companies and utilising the proceeds for investment in share market," it had alleged in a statement. As of February 29, 2024, the agency said the Indian companies under control of associates of Tibrewal held around securities worth Rs 580 crore in stock portfolios and the foreign entities also invested in India via the FPI route and as of the same date, they were found to be holding securities worth Rs 606 crore in stock portfolios. Tibrewal, it claimed, was also involved in "manipulation" of the stock market in collusion with the promoters of some listed companies and using his "immense" capital, he used to create temporary fluctuations in share prices, driving them upwards, and then withdraw funds once the prices reached a desirable level. The Jaggi brothers have launched two prominent ventures -- Gensol Engineering and BluSmart Mobility, BluSmart was co-founded by Anmol Singh Jaggi and it provides electric car services in Delhi-NCR, Bengaluru and Mumbai. At the heart of the ED's investigation are findings of the SEBI's interim order that said Gensol Engineering's promoters treated the listed company as a proprietary firm, diverting corporate funds to buy a high-end apartment in The Camellias, DLF Gurgaon, splurging on a luxury golf set, paying off credit cards, and transferring money to close relatives. The Securities and Exchange Board of India (SEBI) findings also said that there was a pattern of fund diversion by the Gensol promoters pointing to governance failures within the company. Alleged misutilisation of term loans availed by Gensol Engineering from IREDA and PFC were also recorded in the SEBI report. SEBI also noted that the promoters were running the company like their personal piggy bank, routing funds to related parties and spending without regard for shareholder interest. The result of these transactions would mean that these diversions would, at some time, need to be written off from the company's books, ultimately resulting in losses to the investors, SEBI has said. Listed on BSE and NSE, GEL is engaged in providing solar consulting services, Engineering, Procurement and Construction (EPC) services, leasing of electric vehicles, etc.
Time of India
22-04-2025
- Business
- Time of India
ED may probe Gensol Engineering under anti-money laundering law
The Enforcement Directorate may launch an investigation into the alleged diversion of funds and financial misconduct by the promoters of Gensol Engineering Ltd, official sources said on Tuesday. The federal probe agency has also frozen a fresh few lakh shares in Gensol of a person being investigated in a separate case linked to the Mahadev betting app scam , they said. It is learnt that the ED is analysing the recent SEBI report that barred the promoter brothers of Gensol -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities market for various violations apart from accusations of siphoning off loan funds from their publicly listed company for personal use. The ED may initiate a probe under the anti-money laundering law to look into the diversion of funds and loss to investors of Gensol as stated in the SEBI report. The agency will also look for possible violations of the foreign exchange law that are investigated under the Foreign Exchange Management Act (FEMA), the sources told PTI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Car Novels Undo The Raipur office of the agency also froze, under the Prevention of Money Laundering Act (PMLA), a fresh few lakh shares in the company that are allegedly linked to some foreign portfolio investors (FPIs). The sources indicated that the shares were held by a company linked to a Dubai-based "hawala operator" being investigated in the Mahadev app case. Live Events The freezing action came after the ED carried out fresh searches in the Mahadev case on April 16 and said in a statement on Monday that it has frozen securities, bonds and demat accounts worth a total Rs 573 crore. The ED also said its probe found that the "proceeds of crime generated by the betting platform and its linked syndicates were being transferred out of India and later deployed in the Indian stock market in the name of FPIs based in Mauritius, Dubai, etc". The agency had frozen around five lakh shares of Gensol in February last year too as part of the Mahadev app probe. Gensol Engineering Ltd (GEL), in its regulatory filing for quarters ending March 2025 and December 2024, has said that the ED (Raipur office) holds a total of 5,20,063 shares which is 1.35 per cent of its shareholding. These shares were held by Zenith Multi Trading DMCC, an entity allegedly linked to Hari Shankar Tibrewal. The ED has earlier said Tibrewal is a Dubai-based "hawala operator" claiming he partnered with the promoters of Mahadev app in illegal operations for a betting website named 'skyexchange'. In March last year, the ED said that Tibrewal "used Suraj Chokhani (an accused in the case) to launder and hide proceeds of crime under the guise of share investment for Indian companies". "Searches at the premises of Chokhani in Kolkata found that the major source for these investments has been collected by way of receiving bank entries against cash in these companies and utilising the proceeds for investment in share market," it had alleged in a statement. As of February 29, 2024, the agency said the Indian companies under control of associates of Tibrewal held around securities worth Rs 580 crore in stock portfolios and the foreign entities also invested in India via the FPI route and as of the same date, they were found to be holding securities worth Rs 606 crore in stock portfolios. Tibrewal, it claimed, was also involved in "manipulation" of the stock market in collusion with the promoters of some listed companies and using his "immense" capital, he used to create temporary fluctuations in share prices, driving them upwards, and then withdraw funds once the prices reached a desirable level. The Jaggi brothers have launched two prominent ventures -- Gensol Engineering and BluSmart Mobility, BluSmart was co-founded by Anmol Singh Jaggi and it provides electric car services in Delhi-NCR, Bengaluru and Mumbai. At the heart of the ED's investigation are findings of the SEBI's interim order that said Gensol Engineering's promoters treated the listed company as a proprietary firm, diverting corporate funds to buy a high-end apartment in The Camellias, DLF Gurgaon, splurging on a luxury golf set, paying off credit cards, and transferring money to close relatives. The Securities and Exchange Board of India (SEBI) findings also said that there was a pattern of fund diversion by the Gensol promoters pointing to governance failures within the company. Alleged misutilisation of term loans availed by Gensol Engineering from IREDA and PFC were also recorded in the SEBI report. SEBI also noted that the promoters were running the company like their personal piggy bank, routing funds to related parties and spending without regard for shareholder interest. The result of these transactions would mean that these diversions would, at some time, need to be written off from the company's books, ultimately resulting in losses to the investors, SEBI has said. Listed on BSE and NSE, GEL is engaged in providing solar consulting services, Engineering, Procurement and Construction (EPC) services, leasing of electric vehicles, etc.
