Tuesday, October 22

Tag: Enforcement Directorate

China to provide consular assistance to Vivo employees arrested in India
25Dec By adminNo Comments
Business

China to provide consular assistance to Vivo employees arrested in India

China will provide consular protection and assistance to two Chinese employees of smartphone maker Vivo arrested by Indian authorities and urges India not to discriminate against Chinese companies, a foreign ministry spokesperson said on Monday.   "We are closely following what you mentioned. The Chinese government firmly supports Chinese companies to safeguard their lawful rights and interests," Mao Ning told a regular press conference.   India's financial crime-fighting agency last week arrested two senior employees of Vivo's India unit, a move the company vowed to challenge legally.   The two were brought to a Delhi court on Saturday and sent to the Enforcement Directorate's custody, a person directly involved with the case told Reuters....
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FIR filed in Mahadev betting case, Dabur Group’s Burmans deny charges
14Nov By adminNo Comments
Business

FIR filed in Mahadev betting case, Dabur Group’s Burmans deny charges

The Burman family, which runs Dabur Group, has denied any involvement or role in an illegal cricket-betting app as alleged by the Mumbai police in a complaint filed last week. The family said vested interests were behind the police complaint and they wanted to scuttle their (Dabur’s) move to acquire Religare Enterprises, a financial services company. “We have not received any formal communication on any such FIR (first information report). However, we have seen the FIR, which is being circulated to media houses. The FIR is patently false and baseless. Nothing could be further from the truth than what has been wrongly stated in the FIR,” said a spokesperson for the family, referring to the police document. According to the FIR, file...
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Rs 50 crore assets of Pawan Munjal attached
10Nov By adminNo Comments
Business

Rs 50 crore assets of Pawan Munjal attached

Hero MotoCorp Executive Chairman Pawan Munjal The Enforcement Directorate (ED) has “provisionally attached” assets worth about Rs 50 crore belonging to Hero MotoCorp Executive Chairman Pawan Munjal in connection with a money-laundering investigation against him. These include three immovable properties (in the form of land) in Delhi, the central agency said in a statement on Friday. The ED alleged that Munjal misused the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS) by illegally moving foreign currency and valuable items worth Rs 54 crore abroad and later using them for his personal expenses.    “The foreign currency was drawn from authorised dealers by an event management company in the name of various employees and thereafter handed over t...
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ED Attaches Assets Worth Over Rs 53 Crore in GDR ‘Scam’
21Jul By adminNo Comments
Business

ED Attaches Assets Worth Over Rs 53 Crore in GDR ‘Scam’

The Enforcement Directorate (ED) probing the multi-crore school recruitment case in West Bengal. (File Image: News18)A GDR is defined as a negotiable financial instrument issued by a depository bank and it enables a company to reach investors in capital markets abroadThe Enforcement Directorate on Friday said it has attached assets worth more than Rs 59 crore of a Person of Indian Origin (PIO) based in London and some other entities as part of a money laundering investigation linked to an alleged global depository receipts (GDR) scam.A GDR is defined as a negotiable financial instrument issued by a depository bank and it enables a company to reach investors in capital markets abroad.The properties belong to London-based Arun Panchariya, Sanjay Aggarwal and India Focus Cardinal Fund. The a...
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ED attaches over Rs 52-cr worth assets of Sisodia, wife
7Jul By adminNo Comments
Business

ED attaches over Rs 52-cr worth assets of Sisodia, wife

The Enforcement Directorate Friday said it has attached assets worth more than Rs 52 crore of arrested AAP leader Manish Sisodia, his wife and some other accused in the Delhi excise policy-linked money laundering case. A provisional order has been issued under the Prevention of Money Laundering Act to attach among others immovable properties (worth Rs 7.29 crore) comprising two assets of Manish Sisodia and his wife Seema Sisodia, land/flat of another accused Rajesh Joshi (director of Chariot Productions Media Pvt Ltd.) and land/flat of Gautam Malhotra. The attachment also includes movable assets worth Rs 44.29 crore including bank balances of Manish Sisodia worth Rs 11.49 lakh, Brindco Sales Pvt. Ltd. (amount of Rs 16.45 crore) and others, the agency said in a stateme...
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