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Friday, December 04, 2020

Khushboo Narayan

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Case against Topsgrup, Sena MLA: Office computer data deleted, hard disks seized from 2 staffers
Sat, Nov 28, 2020

The agency's officials apprehended the two employees at the company's office in Goregaon here and also seized their phones.

ED arrests Cox and Kings promoter Peter Kerkar in money laundering case
Thu, Nov 26, 2020

Cox and Kings owes Rs 5,500 crore to banks and financial institutions and it is one of the top borrowers of Yes Bank Ltd when co-founder Rana Kapoor was heading it.

Mumbai: DRI arrests two employees of jewellery firms for smuggling gold worth Rs 6.25 crore
Tue, Nov 24, 2020

Investigation into the alleged smuggling racket has found that the two accused were sent to Kolkata at least ten times this year to bring in smuggled gold.

SAFEMA authority forfeits three properties owned by Iqbal Mirchi’s family in south Mumbai
Thu, Nov 19, 2020

The three properties are Rabia Mansion, Mariam Lodge and Sea View. According to the order passed by the authority on November 9, “all the transfers/transactions in respect of these properties have been declared null and void”.

Iqbal Mirchi’s three south Mumbai properties, worth Rs 500 crore, forfeited  
Wed, Nov 18, 2020

The properties have been forfeited by the competent authority under Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, based on evidence collected by the ED.

Govt extends SK Mishra’s term as ED director
Mon, Nov 16, 2020

The modified appointment order of Mishra, 60, stated: “The President of India is pleased to approve the modification in the earlier order dated November 19, 2018, appointing Shri Sanjay Kumar Mishra as director of enforcement in the Enforcement Directorate.”

Assets of Deepak and Chanda Kochhar attached by ED not proceeds of crime: PMLA adjudicating authority
Sat, Nov 14, 2020

The PMLA has not confirmed the attachment of assets, worth Rs 78.15 crore, by the ED. The acting chairperson of the authority, Tushar V Shah, in a 798 page order said that the assets of Deepak Kochhar do not qualify as proceeds of crime under PMLA.

Sugar baron Ratnakar Gutte’s son arrested in fake tax invoice scam
Fri, Nov 13, 2020

The agency said it has unearthed “a large cartel of companies” in New Delhi, Hyderabad, Ludhiana, Gurugram, Meerut, Ahmedabad and Kolkata, which have indulged and participated in this fraud along with Sunil Hitech Engineers Limited.

Krunal Pandya questioned at Mumbai airport over luxury watches
Fri, Nov 13, 2020

Pandya was questioned for about three hours, after the team arrived around 4.30 pm on a chartered flight, and allowed to leave after the watches were confiscated, sources said.

ED director’s term set to end, govt looks at legal hurdles to reappointment
Thu, Nov 12, 2020

The two-year term of S K Mishra, the incumbent, will end on November 18, as per records. So far, none of the past directors have been re-appointed by any government.

Mumbai: DGGI arrests four in Rs 408 crore GST fraud
Thu, Nov 12, 2020

The DGGI arrested the director of Range Megastructures Private Ltd, the proprietor of ACS Hardware and Networking, the promoter of Keshariya Metal Pvt Ltd and the director of Shailaja Commercial Trade Frenzy Ltd.

Protein supplement importer held for evading Rs 14 crore in customs duty
Fri, Nov 06, 2020

The DRI found that Shah has imported at least 100 consignments this year and undervalued it to evade customs duty.

Videocon-ICICI case: ED chargesheets Chanda Kochhar, others, with ‘5 trunks’ of supporting documents
Thu, Nov 05, 2020

The ED's case against the Kochhar family pertains to the alleged illegal sanctioning of loans of Rs 1,875 crore by ICICI Bank, during the tenure of Chanda Kochhar, to Videocon Group.

PMC Bank seeks bidders for its reconstruction
Wed, Nov 04, 2020

PMC Bank is under regulatory restrictions after the Reserve Bank of India (RBI) found out financial irregularities in its functioning, hiding and classification of loans given to Housing Development Infrastructure Ltd (HDIL).

Former HC judge refuses to be examined again in Nirav Modi case
Mon, Nov 02, 2020

Nirav is currently lodged in a prision after the court in UK refused to grant him bail for the seventh time.

Mumbai: Music startup Blue Frog Media files for bankruptcy
Sat, Oct 31, 2020

Blue Frog Media was cofounded in 2006 by music composers Ashutosh Phatak and Dhruv Ghanekar, fund manager Simran Mulchandani, film director Mahesh Mathai and film producer Srila Chatterjee.

Explained: What is next in Future-Reliance vs Amazon?
Sat, Oct 31, 2020

Can Future Group challenge the interim award of the emergency arbitrator in India? We explain

Cox & Kings loaned out Rs 6,071 crore to at least 20 related parties sans board nod
Tue, Oct 20, 2020

The travel firm came under the lens after the ED initiated a probe into allegations of kickbacks taken by Kapoor in lieu of granting loans to several firms that have now defaulted on repayments.

Firm linked to Cox & Kings promoter under lens, got loan on security from travel co’s arm
Sat, Oct 17, 2020

In 2016, Kerkar's Castleman Management Ltd in BVI borrowed $59.6 million from Deutsche Bank AG against a security given by Cox and Kings Asia Pacific Travel Ltd, in Hong Kong, a subsidiary of the listed firm Cox & Kings.

SFIO probing ‘fraudulent deals’ by Reid and Taylor, ex-promoter
Fri, Oct 16, 2020

The probe was ordered following a directive by the National Company Law Tribunal (NCLT), after the resolution professional (RP) found multiple irregularities in the books of RTIL during its liquidation process.

Maharashtra: Wilful defaulter Winsome Diamonds to be liquidated
Wed, Oct 07, 2020

With the National Company Law Tribunal liquidation order, the creditors of Winsome, mainly banks, are likely to take a haircut of 98 per cent since the diamond firm has assets of only about Rs 200 crore in its balance sheet that can be liquidated, said sources.

Mumbai: Rs 25 lakh penalty imposed on former customs officer for smuggling red sanders worth Rs 1.2 crore in 2013
Fri, Oct 02, 2020

Subsequently Mohammad Altaf, in his statements to the DRI, admitted to the alleged smuggling but retracted his statements after a month. The CESTAT held the retraction of statements by Altaf was an “afterthought”.

FinCEN Files: Before bankruptcy and probe, Bhushan Steel hit US radar for flows from Latvia, Dubai
Thu, Sep 24, 2020

These transactions, totalling $4.39 million, figure in several Suspicious Activity Reports (SARs) sent between 2012 and 2015 to the US regulatory agency that enforces money laundering laws, the records show.

FinCEN Files — Delhi, Dubai: US bank red-flags garment export firms under DRI, ED scanner
Wed, Sep 23, 2020

A money laundering probe against Fatta is also being monitored by the Supreme Court-appointed-Special Investigation Team (SIT) investigating black money stashed abroad.

DHFL’s Wadhawan brothers gifted four properties in Dubai to Iqbal Mirchi’s son
Fri, Sep 25, 2020

Sources told The Indian Express that in 2015, Dheeraj Wadhawan and East Coast LLC transferred four commercial properties totaling over 2900 sq ft in Marsa, Dubai, to Memon without any monetary consideration.

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