Tag: PMLA court

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PMLA Court Denies Jailed Director’s Request for Online Meetings

CHANDIGARH: In a significant ruling, the Special PMLA court in Gurgaon denied requests from Arvind Walia, an imprisoned director of Ramprastha Promoters and Developers Private Ltd, to conduct online meetings or manage professional responsibilities from jail. Walia is currently held in Gurugram jail after his arrest by the Enforcement Directorate (ED). Walia and fellow director Sandeep Yadav were taken into custody on July 21 last year, accused of defrauding over 2,000 homebuyers by collecting approximately ₹1,100 crore across various real estate projects, failing to deliver possession for over 14 years. Through his lawyer, Walia submitted applications to Judge Vani Gopal…

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Court Denies ARC’s Request for DSK Property Auction

MUMBAI: A special Prevention of Money Laundering Act (PMLA) court has denied a request from Encore Asset Reconstruction Company Pvt Ltd (ARC), a secured creditor, to release and auction properties tied to the Deepak Sakharam Kulkarni (DSK) group case. The judge highlighted that the properties in question were not only seized by the Enforcement Directorate (ED) under the PMLA but were also under the state’s attachment pursuant to the Maharashtra Protection of Interest of Depositors (MPID) Act. Judge R B Rote remarked, “Considering the circumstances, the applicant cannot vacate the attachment on mortgaged properties nor proceed with the auction. This…

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Court Denies HDIL Promoter Trip to Hyderabad, Allows Other Travel

MUMBAI: A special PMLA court has denied HDIL promoter Sarang Wadhawan’s request to travel to Hyderabad, where he is under investigation for allegedly facilitating threats via another individual. Wadhawan is implicated in a Rs 6,117.9 crore money laundering case. “A complaint has been filed with the ED (Enforcement Directorate) concerning threats involving the accused, and verification of the allegations is ongoing. Given the situation, allowing the applicant to visit Hyderabad is neither just nor appropriate,” stated Special Judge R B Rote. Wadhawan, who was released on bail last year after being arrested four years ago alongside his father, Rakesh Wadhawan,…