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”.
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.”
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.
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.
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.
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).
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.
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.
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.
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”.
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.
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.