Tag: money laundering case

Latest StoriesRegulatory

SC to Hear ED’s Plea on Illegal Arrest of Vasai-Virar Chief

NEW DELHI: The Supreme Court has agreed to hear a petition from the Enforcement Directorate (ED) challenging a Bombay High Court ruling that deemed the arrest of former Vasai-Virar civic body chief Anil Pawar in a money laundering case as “illegal”. The ED arrested Pawar on August 13 in connection with the case. According to the ED, illegal constructions were made, involving the development of 41 buildings between 2008 and 2010 by the accused builders and developers in collusion with City and Industrial Development Corporation of Maharashtra officials. The ED’s appeal against the high court’s order from October 15 was…

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ED Seizes Luxury Cars in Goa ‘Illegal’ Land Grab Case

NEW DELHI: The Enforcement Directorate (ED) has confiscated seven luxury vehicles including brands such as Porsche, Mercedes, and Audi, following raids in a money laundering investigation tied to an alleged ₹1,200 crore land grabbing case in Goa. This case involves an individual named Yeshwant Sawant and several others. The operation began on Tuesday and concluded on Wednesday. According to the ED, 13 residential and commercial properties in Goa and Hyderabad were examined under the Prevention of Money Laundering Act (PMLA) due to the “illegal” seizure of Communidade lands in Goa, as stated in the agency’s announcement. The ED’s case is…

Latest StoriesRegulatory

ED Raids Raheja Developers Over Homebuyer Fraud Case

NEW DELHI: On Tuesday, the Enforcement Directorate reported the seizure of “incriminating” documents and asset details during searches of real estate firm Raheja Developers Ltd. and its directors, as part of a money laundering investigation linked to alleged fraud against homebuyers. The raids occurred on June 27 in Delhi-NCR and Mohali, Punjab. The ED’s money laundering case arises from several FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja, and others. The agency stated that the FIRs claim “substantial” sums were fraudulently collected from investors and homebuyers with…