Mumbai, March 24 (IANS) Chief Minister Devendra Fadnavis on Tuesday announced in the state Assembly that the government has proposed an amendment to the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act) to ensure a faster, more punitive tool for recovering investor funds.The amendments will be pertaining to 180 days (six months) mandate as a strict statutory deadline. The Designated Court is now required to decide on making a property attachment …
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Chennai, March 5 (IANS) The Enforcement Directorate (ED) has conducted coordinated search operations at multiple locations in Mumbai and Chennai in connection with an alleged investor fraud involving M/s Atum Capital Pvt Ltd and its associated entities.The searches were carried out on February 27 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as part of an ongoing investigation into suspected financial irregularities and diversion of investor funds, the ED said in a…