Tag: Enforcement Directorate

Regulatory

ED attaches properties worth ₹55 lakh in Shine City case

LUCKNOW: The Lucknow zonal office of the directorate of enforcement (ED) provisionally attached properties worth Rs 55.07 lakh under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the case of Shine City Properties Ltd. The attached properties include a land in Allahabad in the name of Mohammad Javed, a resident of Allahabad. The ED also froze a bank account in his name. The ED investigation was based on 554 FIRs registered against Rasheed Naseem and Shine City group of companies. The investigation revealed that the accused, associates and promoters incorporated several companies and collected funds from…

Regulatory

ED attaches ₹44-crore Delhi house of Bhasin Infotech accused of duping homebuyers

NEW DELHI: A residential property in Delhi worth more than Rs 44 crore has been attached under the anti-money laundering law as part of an investigation against a Noida-based realty company and its promoters accused of duping homebuyers, the Enforcement Directorate said Wednesday. The case pertains to Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL) and its director Satinder Singh Bhasin. The money laundering case stems from multiple Uttar Pradesh Police (Noida) FIRs filed in 2015 against BIIPL, Grand Venice group entities, Bhasin, Quincy Bhasin and others on charges of cheating, fraud and criminal conspiracy. It was alleged in the police…

Regulatory

ED flags deep conspiracy in Bhoodan land case; top officials, bizmen under lens

HYDERABAD: In a major revelation, Enforcement Directorate (ED) has informed the Telangana high court that large-scale fraudulent transactions have taken place in the sale of Bhoodan land in Nagaram village in Rangareddy district. The central agency, in its counter-affidavit, claimed land sales registered in survey numbers 181, 182, 194, and 195, including 50 acres of Bhoodan land, were executed without valid ownership by the sellers. The buyers reportedly include senior bureaucrats and businessmen. ED has identified Mohammed Abdul Shukur as the key conspirator behind the fraudulent land deals. Shukur allegedly sold the land using forged documents and fabricated ownership claims,…

Regulatory

ED says DHFL promoters used public money for extravagant hobbies, lavish purchases

MUMBAI: DHFL promoters Kapil and Dheeraj Wadhawan allegedly utilised “public money” for their “extravagant hobbies”, purchasing 25 paintings and a sculpture worth over Rs 63 crore, claimed the Enforcement Directorate’s chargesheet in multi-crore bank loan scam case. Besides the paintings, the loan amount was used for the purchase of gemstones, properties as well as 20 per cent stake in a helicopter, the chargesheet said. The Wadhawan brothers are accused of defrauding a consortium of 17 banks led by Union Bank of India (UBI) to the tune of Rs 34,615 crore. The federal probe agency recently filed its chargesheet against 17…