Kanpur: Bank of India (BOI) has seized the house of Rotomac company owner Vikram Kothari for non-repayment of 900 crore loan. Kothari has taken a loan from four bank accounts but failed to pay back, now bank will recover its amount by selling the house. Earlier Central Bureau of Investigation[Read More…]
Tag: PMLA
Man gets 5-year jail in Bihar’s first money laundering conviction
Patna: A special court here on Thursday sentenced a man to five-year imprisonment, including rigorous imprisonment for one year, in a money laundering case, said to be first such conviction in the state. An Enforcement Directorate statement said that Mohammad Naushad was also ordered to pay a fine of Rs[Read More…]
Chhattisgarh: ED attaches Rs 36 crore assets of suspended principal secretary
Assets worth Rs 36 crore of suspended Chhattisgarh IAS official BL Agrawal was attached by the Enforcement Directorate (ED) on Tuesday. Agrawal was earlier detained by the CBI. “ED has attached assets worth Rs 36.09 crore under PMLA (Prevention of Money Laundering Act),” an official from the agency said as[Read More…]
An Ordinary Person’s Guide to PMLA
On the evening of 8th November, when the PM announced demonetization of the currency notes of 500 and 1000 denomenations, amongst several arguments on why of this news, was an intention to shock black money hoarders. I innocently assumed then that for the benefit of poor Jan Dhan Yojna account[Read More…]
P Chidambaram says summon against his son is vague
Speaking about the ongoing probe against Karti Chidambaram’s ‘alleged’ financial irregularities in Aircel-Maxis scam, P Chidambaram has said that the recent “summon against his son Karti Chidambaram is vague and unclear.” He said, “A canard is being spread that my son, Mr Karti Chidambaram, has refused to appear before the[Read More…]
Himachal CM will not resign over ‘false allegations’: Congress
The Congress accused the BJP of trying to malign the Himachal CM Virbhadra Singh’s by imposing false allegations on him. Congress leader Anirudh Singh added that the Chief Minister will not resign over false allegations by BJP government. This announcement by the party comes a day after the arrest of[Read More…]
More trouble for Virbhadra Singh, ED arrests LIC agent in money laundering case
The Enforcement Directorate (ED) arrested an LIC agent Anand Chauhan in connection with the money-laundering probe against Himachal CM Virbhadra Singh on Sunday. Chauhan was instrumental in investing Rs 5 crore in LIC polices in the name of CM’s family members including his wife and children. He was arrested[Read More…]