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Time of India
11-08-2025
- Time of India
PMLA court takes cognisance of ED case against Lucent Drugs for illegal Tramadol exports to Pak
1 2 3 Hyderabad: The special court for PMLA cases in Hyderabad has taken cognisance of a prosecution complaint filed by the Enforcement Directorate against Lucent Drugs Private Limited and its top executives for allegedly exporting large consignments of the psychotropic drug Tramadol to Pakistan via Denmark and Malaysia, in violation of Indian export regulations. On Aug 6, the court admitted the complaint after the ED's probe revealed that the company routed 13,800 kg of Tramadol, valued at ₹4.1 crore, to Pakistan through Denmark-based CHR Olesen Pharmaceuticals, and another 5,000 kg, worth ₹1.3 crore, through Malaysia-based SM Biomed. The agency has attached immovable properties worth ₹5.4 crore belonging to the company. Tramadol, often referred to as the 'ISIS drug' due to its widespread misuse by ISIS fighters and for treating war injuries, is a controlled psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act. The ED's investigation began following a complaint from the Narcotics Control Bureau's Bengaluru zonal unit. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad According to the ED, Lucent Drugs and its officials, including managing director Vinod Jain, associate vice-president Devarasetty Sai Vikas, and logistics and sales executive Gangula Eswara Rao, forged records and export authorisations to carry out the shipments. While the company initially obtained a no-objection certificate from the Central Bureau of Narcotics for export to Pakistan, the approval was later withdrawn. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn 57+ Languages Easily with AI [Join] Talkpal AI Sign Up Undo To circumvent the ban, the accused allegedly used intermediaries in Denmark and Malaysia to disguise the final destination. The ED contends that the illegal exports generated ₹5.4 crore in proceeds of crime, which were channelled into Lucent Drugs' regular business accounts and projected as legitimate sales from other countries. These funds, the agency alleges, were deliberately layered to conceal their illicit origin. 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.
The Hindu
11-08-2025
- The Hindu
ED charges Hyderabad firm in case of illegal Tramadol export to Pakistan
The Enforcement Directorate's (ED) Hyderabad Zonal Office has filed a prosecution complaint against Lucent Drugs Pvt. Ltd. and its key executives in connection with the illegal export of the psychotropic substance Tramadol — a synthetic opioid — to Pakistan, in violation of the NDPS Act. The Special PMLA Court in Hyderabad took cognisance of the case on August 6. The investigation began following a Narcotics Control Bureau (NCB) complaint alleging illegal exports, contravention of NDPS Act orders, and forgery of records linked to export authorisations. Those named in the complaint include the company's managing director Vinod Jain, associate vice-president Devarasetty Sai Vikas, logistics and sales executive Gangula Eswara Rao, and others. According to the ED, the Lucent Drugs had been manufacturing and exporting Tramadol to various overseas clients, including those in Pakistan. While the company initially obtained clearance from the Central Bureau of Narcotics for exports to Pakistan, later approvals were denied. 'To bypass the ban, the accused allegedly re-exported 13,800 kg of Tramadol worth about ₹4.12 crore to Pakistan through a Denmark-based company, CHR Olesen Pharmaceuticals, and 5,000 kg worth about ₹1.34 crore via Malaysia-based SM Biomed,' an officer from ED said. The ED said that the illegal shipments generated proceeds of crime totalling ₹5.46 crore, which were routed into the company's bank accounts and later mixed with legitimate business revenues to disguise their origin. Earlier, the agency had attached the company's immovable properties, including a building and factory premises, valued at ₹5.46 crore.
Yahoo
28-05-2025
- Business
- Yahoo
NICE Actimize Empowers SURVEIL-X with Generative AI, Launching a New Era in Market Abuse and Conduct Risk Detection
Actimize's powerful AI capabilities contribute to a reduction in false positives by as much as 85 percent while detecting up to four times more true misconduct risk HOBOKEN, N.J., May 28, 2025--(BUSINESS WIRE)--NICE Actimize, a NICE (NASDAQ: NICE) business, today announced that its market-leading SURVEIL-X Holistic Conduct Surveillance solution is now integrated with Actimize Intelligence, powerful Generative AI capabilities designed to ensure accurate and timely detection of market abuse and conduct risks across every type of regulated employee communication, from emails and chats to traditional voice calls. Created to address the growing complexities of financial crime and conduct surveillance, Actimize Intelligence Generative AI leverages large language models (LLMs) in order to understand the true context of communications, going beyond keywords and rules-based detection to differentiate between suspicious and non-suspicious communications, factoring in jargon, tone, sentiment and intent. Chris Wooten, EVP, Vertical Markets, NICE said, "The integration of Actimize Intelligence and its generative AI capabilities into SURVEIL-X marks a significant leap forward in conduct risk detection and surveillance. Our proven AI technology and trusted SURVEIL-X surveillance solution empower compliance professionals to identify true risks with unprecedented accuracy and efficiency, while dramatically reducing the workload associated with false positives. With more than two decades of experience in financial services and a vast knowledge base, we are taking communications surveillance to the next level and delivering on the promise of AI." Additionally, financial services firms will be able to leverage Actimize Intelligence to: Eliminate false positives and detect true risks. Actimize Intelligence may reduce false positives by as much as 85 percent and detect up to four times more true misconduct risk than traditional rule-based surveillance systems. Expand global reach with multi-language surveillance. Actimize Intelligence's multi-lingual AI understands and analyzes communications in 150-plus languages, and presents simple, easy-to-understand results summaries. Receive intelligent alerts with clear explanations. Actimize Intelligence does not just alert to suspicious communications, it explains what it found (e.g., insider dealing, market manipulation, collusion, aggression, or other types of misconduct), with precise explanations showing where and why the communications were identified as suspicious. "Integrating AI-driven communication surveillance with trade and transaction monitoring is more than just an efficiency boost—it's a game-changer for compliance. By seamlessly analyzing contextual patterns, AI unlocks deeper insights without adding operational overhead, transforming surveillance from reactive oversight into proactive risk management," noted Vinod Jain, Strategic Advisor, Capital Markets, Datos Insights. "Surveillance is only as strong as the data it relies on. To bridge the gap between fragmented communications and trading oversight, firms must embrace holistic platforms that unify structured and unstructured data. Clean data isn't just an advantage—it's a necessity. AI is key to making it work." SURVEIL-X, holistic conduct surveillance suite offers unparalleled risk coverage for buy- and sell-side firms, insurance companies, crypto exchanges, regulators and more, by enabling accurate detection and rapid, thorough investigation of market abuse, inappropriate sales practices, and conduct risk. SURVEIL-X also features the industry's leading case management solution which provides the added benefits of built-in workflows to accelerate investigations, and automated trade reconstruction. NICE Actimize SURVEIL-X is part of the Compliancentral platform which unifies communications and trading activity capture, archiving and surveillance in a holistic AI compliance platform for financial markets. To learn more about Actimize Intelligence, SURVEIL-X, or other Compliancentral solutions, please visit our website here. About NICE Actimize As a global leader in artificial intelligence, platform services, and cloud solutions, NICE Actimize excels in preventing fraud, detecting financial crime, and supporting regulatory compliance. Over 1,000 organizations across more than 70 countries trust NICE Actimize to protect their institutions and safeguard assets throughout the entire customer lifecycle. With NICE Actimize, customers gain deeper insights and mitigate risks. Learn more at About NICE With NICE (Nasdaq: NICE), it's never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world's #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Wooten, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the "Company"). In some cases, such forward-looking statements can be identified by terms such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," "estimate," or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, such as the impact of conflicts in the Middle East that may disrupt our business and the global economy; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law. View source version on Contacts Corporate Media Contact Cindy Morgan-Olson, +1 646 408 5896, media@ ETInvestors Marty Cohen, +1 551 256 5354, ir@ ETOmri Arens, +972 3 763 0127, ir@ CET Sign in to access your portfolio
