Tag: Enforcement Directorate (ED)

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HC Calls Ex-Civic Chief’s Arrest in Money Laundering ‘Illegal’

MUMBAI: The Bombay High Court deemed the arrest of Anil Pawar, former chief of the Vasai-Virar civic body near Mumbai, by the Enforcement Directorate (ED) as “illegal” in a money laundering matter, ordering his immediate release. A bench comprising Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad stated that the ED lacked “tangible material” necessary for his arrest. “We find that on August 13, 2025, the arresting officer had no material as stipulated under section 19 of the Prevention of Money Laundering Act, which indicates a belief that the person is guilty of the offence,” the HC stated. “There is…

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Lodha Developers to Pay ₹520 Crore in V Hotels Legal Dispute

AI generated image. NEW DELHI: Lodha Developers Ltd has been instructed to deposit ₹520.80 crore as security related to an ongoing Supreme Court case against V Hotels Ltd, which the company acquired last year through insolvency proceedings. In a regulatory filing on Wednesday, Lodha revealed that this issue concerns proceedings initiated by the Enforcement Directorate (ED) against the former promoter of V Hotels Ltd (VHL) regarding a transaction of ₹520.80 crore, allegedly funneled through VHL before the onset of the insolvency process. Lodha anticipates that the Supreme Court will expedite the hearing in this matter, leading to the release of…