Tag Archives: Enforcement Directorate

Fugitive businessman Vijay Mallya has ignited a fresh controversy with his claims that the Indian banks have recovered more than double the amount of his debt. In a recent series of posts on X (formerly Twitter), Mallya argued that while the Debt Recovery Tribunal had adjudicated his Kingfisher Airlines (KFA) debt at ₹6,203 crore, including ₹1,200 crore in interest, banks had recovered ₹14,131.60 crore from him through the Enforcement Directorate (ED) and other agencies.

In a significant development, the Enforcement Directorate (ED) carried out raids on 15-16 locations linked to vendors selling on major e-commerce platforms such as Amazon and Flipkart. The action is part of an ongoing investigation under the Foreign Exchange Management Act (FEMA), sources confirmed on Thursday.

Cricketer-turned-politician Mohammad Azharuddin has been summoned by the Enforcement Directorate (ED) in connection with a money laundering case linked to the Hyderabad Cricket Association (HCA). Azharuddin, who previously served as the HCA president, is accused of misappropriating funds during his tenure, particularly relating to a sum of ₹20 crore allocated for essential infrastructure at the Rajiv Gandhi Cricket Stadium in Uppal, Hyderabad.

The Enforcement Directorate (ED) has imposed a significant penalty of ₹908 crore on DMK MP S Jagathrakshakan and his family in connection with a case under the Foreign Exchange Management Act (FEMA). In addition to the fine, assets worth ₹89 crore have been confiscated by the agency

Finance Minister Nirmala Sitharaman emphasized on Friday that there has been “no leniency” in recovering bad loans from large defaulters, with the Enforcement Directorate (ED) attaching properties worth ₹64,920 crore from 1,105 such defaulters under investigation. Sitharaman's remarks came amidst opposition claims of loan waivers for industrialists during the Modi government, which she refuted in a series of posts on X, the social media platform formerly known as Twitter.

In a groundbreaking move, the Enforcement Directorate (ED) arrested Hemant Soren, former Jharkhand Chief Minister, under the Prevention of Money Laundering Act (PMLA). This arrest follows a complex operation by the federal agency, attempting to apprehend the Jharkhand Mukti Morcha (JMM) leader in Delhi. Despite teams being deployed at his residence and the airport, Soren managed to evade authorities and reach Ranchi by road on Tuesday. The ED alleges that Soren is a key beneficiary in an alleged land scam in Ranchi, where a network of brokers and businessmen falsified records in registrar offices to create fake deeds of landed parcels, subsequently selling them.

In a significant development in the ongoing investigation into the alleged ₹25,000-crore Maharashtra State Cooperative Bank scam, the Enforcement Directorate conducted raids on several premises linked to Baramati Agro, owned by Rohit Pawar, the grand-nephew of Nationalist Congress Party (NCP) chief Sharad Pawar.

In an intensifying money laundering case involving Vivo-India, the Enforcement Directorate (ED) has taken three individuals into custody under the Prevention of Money Laundering Act (PMLA), adding to the mounting woes for the Chinese smartphone maker.

The Enforcement Directorate (ED) conducted searches in Hyderabad at the residences of Brightcom Group's CEO and CFO, and the premises of the company's auditor, resulting in the seizure of cash, gold, and bullion. The company has been facing regulatory scrutiny, including fines by SEBI and recent actions against its executives.