Guwahati, July 10 (IANS) The Directorate of Enforcement (ED) has provisionally attached movable and immovable assets worth around Rs 5.54 crore in connection with an alleged multi-crore Ponzi scam involving the Jeevan Suraksha Group of Companies, officials said on Friday. The attachment was made under Section 5(1) of the Prevention of Money Laundering Act (PMLA), 2002.According to the ED, the attached assets include credit balances of about Rs 1.42 crore lying in 48 bank accounts and 22 immovabl…
Latest Serious Fraud Investigation Office News & Updates
New Delhi, July 2 (IANS) The ED attached movable and immovable properties of Ritu Singal, wife of Neeraj Singal, who is the promoter of erstwhile Bhushan Steel Limited (BSL), amounting to about Rs 58.34 crore, an official said Thursday. The Directorate of Enforcement (ED), Delhi Zonal Office, has attached the assets in connection with money laundering linked to diversion of funds from erstwhile BSL in the garb of genuine transactions, causing a loss to the tune of Rs 11,446.73 crore to financial…
Kochi, June 26 (IANS) The Enforcement Directorate (ED) has widened its investigation into the alleged CMRL-Exalogic ‘masappadi’ (monthly payment) case to examine whether Cochin Minerals and Rutile Ltd. received undue favours from the erstwhile LDF government, even as it subjected T. Veena, daughter of former Chief Minister Pinarayi Vijayan, to more than 10 hours of questioning in Kochi a day earlier.The agency is learnt to be examining whether the monthly payments allegedly made by CMRL to V…
Kochi, June 25 (IANS) The political temperature surrounding former Chief Minister Pinarayi Vijayan and his daughter Veena Vijayan rose sharply on Thursday after the latter made an ‘unexpected’ appearance before Enforcement Directorate (ED) officials in Kochi for a second round of questioning this month.What has particularly raised eyebrows is the timing of her visit. Veena had reportedly been directed to appear before the Central agency on June 29.However, in a move that surprised political …
Thiruvananthapuram, June 19 (IANS) Kerala’s Leader of Opposition Pinarayi Vijayan on Friday responded sharply to media queries on the Enforcement Directorate (ED) opening and examining the bank locker of his daughter Veena Vijayan in connection with the CMRL–Exalogic financial transaction case, saying there was nothing to hide.”Yes, they did come home also recently. So you can go with your camera and see what’s there in it. Please go and check,” Vijayan told the media when asked about the ED…
New Delhi, June 19 (IANS) The Supreme Court on Friday agreed to examine a public interest litigation (PIL) seeking a court-monitored investigation by the Enforcement Directorate (ED), the Serious Fraud Investigation Office (SFIO) and the Reserve Bank of India (RBI) into an alleged banking fraud involving over Rs 1,500 crore of public sector bank funds and the role of asset reconstruction companies (ARCs) in facilitating debt settlements at a fraction of the outstanding dues. A Bench of Chief Jus…
Kochi, June 11 (IANS) Veena Thaikandi, daughter of former Chief Minister and Opposition Leader Pinarayi Vijayan, will not appear before the Enforcement Directorate (ED) on Friday for questioning in the politically explosive mineral company ‘monthly payment’ (Masappadi) case.Citing health issues, Veena informed the central agency through an email that she would be unable to appear as scheduled and sought another date for questioning.Veena also assured the ED that she was ready to provide all …
Kochi, June 8 (IANS) The Enforcement Directorate (ED) has received a major boost in the ‘Masappadi’ case, with a special PMLA Court in Kochi ordering the transfer of crucial documents related to the financial transactions between Chief Minister Pinarayi Vijayan’s daughter Veena Thaikandi and mineral company CMRL.The court directed that certified copies of 134 key documents seized by the Serious Fraud Investigation Office (SFIO) be handed over to the ED, which is probing alleged financial i…
Kochi, June 5 (IANS) The Kerala High Court has cleared the way for the Enforcement Directorate (ED) to proceed with its investigation into Cochin Minerals and Rutile Limited (CMRL), rejecting the company’s plea to quash the probe. The development comes at a crucial stage with ED Director Rahul Navin reaching Kochi and preparing to hold a high-level meeting with senior officials.A Division Bench comprising Justices Raja Vijayaraghavan V. and K.V. Jayakumar on Friday dismissed an appeal filed by…
New Delhi, June 3 (IANS) Shares of private lender IndusInd Bank fell 3 per cent on Wednesday after reports emerged of a fresh whistleblower complaint seeking an investigation into alleged insider trading, governance lapses and audit shortcomings at the bank.The stock declined as much as 3.01 per cent to hit an intraday low of Rs 884.75 apiece on the BSE as of 2:30 pm. At the last count, the banking stock was trading at Rs 895.80, down about 2 per cent.The selling pressure followed reports sugges…