ED has arrested Balvinder Singh s/o Late Huzur Singh, Promoter – Director of M/s PCH Corporation Ltd and other PCH group companies under PMLA, 2002 in a case relating to defrauding banks to the tune of Rs 370 Crore (Press release 10 Feb 2022)
Category: PMLA
ED has provisionally attached assets having guidance value of Rs. 6.5 Crore of Anitha R Radhakrishnan, Minister for Fisheries-Fishermen Welfare and Animal Husbandry, Govt. of Tamil Nadu and his family members under PMLA, 2002 in a disproportionate asset case (Press Release 02 Feb 2022).
ED has provisionally attached immovable properties having total value of Rs. 9.08 Crore belonging to the Directors of M/s Cethar Ltd, Trichy and their family members under PMLA, 2002 in a bank fraud case (Press Release 03 Feb 2022)
ED has provisionally attached assets worth Rs.268.66 Crore of M/s. Agnite Education Limited (earlier Teledata Informatics Limited) & others under PMLA, 2002 in a bank fraud case (Press Release 03 Feb 2022)
ED has seized assets worth Rs 3.19 Crore of Karusala Venkat Subba Rao, Tejesh K. Kodali and Kadiyala Venkateswara Rao of M/s 3K Technologies Limited, Hyderabad, under FEMA, 1999.
ED has provisionally attached assets worth Rs. 43.25 Crore of M/s Sheetal Refineries Limited & its promoter, Jitender Kumar Agarwal under PMLA, 2002 in bank fraud case.
ED has arrested C Parthasarathy, Chairman & MD, and G Hari Krishna, CFO, of the Karvy Group in the Rs 2000 Crore Security Scam. Court has given 4 days of ED Custody of the arrested accused.
ED has filed Prosecution Complaint against Lalit Goyal, Vice-chairman cum Managing Director of IREO Group and others under PMLA, 2002 in a case related to multi-crore real estate scam. Hon’ble Special Court, Panchkula has taken cognizance of the present complaint on 21.01.2022.
Judicial updates-19th Jan 2022
Judicial updates-19th Jan 2022
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NCLT/NCLAT should not pass ad hoc orders regarding fee and expenses payable to Resolution Professionals
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In Re Cognizance For Extension of Limitation (Supreme Court of India) dated 10/01/2022
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Asst. Director Enforcement Directorate Vs Dr. V.C. Mohan (Supreme Court of India) dated 04/01/2022
Builder obliged to provide occupancy certificate to flat owners & Failure amount to deficiency in service
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Comments made during Mediation or Settlement Proceedings cannot be relied by Courts
Arjab Jena@ Arjab Kumar Jena Vs. Utsa Jena @ Pattnaik (Supreme Court of India) dated 05/01/2022
Nobody has a fundamental right to a public holiday
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God cannot be summoned by Court for inspection or verification
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Employees refusing regular promotion offer disentitled to financial upgradation benefits
Union of India Vs Manju Arora (Supreme Court of India) dated 03/01/2022
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ED has attached assets worth Rs. 410 Crore of M/s Omkar Group and Sachin Joshi under PMLA, 2002 in a loan fraud case (Press Release dated 15th Jan 2022)
Enforcement Directorate has attached flats worth Rs. 330 Crore approximately in Tower C of sale building namely Omkar 1973, Worli of M/s Omkar Group and an open land situated at Viram, Pune worth Rs. 80 Crore approximately of a company belonging to Sachin Joshi under Prevention of Money Laundering Act (PMLA), 2002.
ED initiated money laundering investigation on the basis of FIR No. 109 of 2020 filed by City Chowk Police Station, Aurangabad.
ED had conducted a search last year on 25.01.2021 to 27.01.2021 and arrested Babulal Varma, Managing Director of M/s ORDPL, Kamal kishore, Chairman of M/s ORDPL and later on Sachin Joshi. The ED had earlier filed Prosecution Complaint on 26.03.2021 before the Session Court, Bombay.
ED during investigation found that loan amount Rs. 410 Crore was fraudulently acquired by M/s Surana Developers Wadala, LLP, a sister concern of M/s ORDPL through falsely increased slum dwellers numbers and FSI. Out of Rs. 410 Crore, an amount of Rs. 330 Crore was laundered into the sale building of Omkar Group and an amount of Rs. 80 Crore approximately was laundered through Sachin Joshi and his Viiking Group of companies under the guise of services and investment.
Further investigation is in progress.
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