Karnataka Chief Minister H D KumaraswamyFriday said his government would not protect anyone involved in illegal activities, as he flayed the BJP for accusing him of "adjustment" by not acting on a legislature panel report on alleged irregularities in the Bengaluru-Mysuru Infrastructure Corridor project.

"I have seen that a BJP MLA while demanding action based on House Committee on NICE, has accused me of adjustment (in the case). They (BJP) are the ones who taught me adjustment politics," Kumaraswamy told reporters here.

Kumaraswamy said during the tenure of the BJP-JD(S) coalition government in 2006 headed by him, when he brought a subject before the cabinet to scrap the project, BJP ministers had boycotted it.

"Where was their commitment then?" he asked.

State BJP general secretary and MLA C T Ravi Thursday had demanded that the coalition government implement the House committee report on alleged irregularities in the implementation of the Bangalore-Mysore Infrastructure Corridor project (BMIC) by Nandi Infrastructure Corridor Enterprises(NICE).

He had reportedly accused Kumaraswamy and his government of "adjustment" in the case.

Kumaraswamy said, his government will not protect anyone involved in illegal activity related cases.

"It has just been five-and-half months after this coalition government coming to power, give us some time. How we will work, how our programmes are...By implementing our programmes we will answer them. I need not do politics by adjustment," he said.

Asked if the government will act on the House committee report, the chief minister said, the report is yet to be accepted by the Assembly.

"There is time, we will take decision accordingly."

In its report tabled in the Assembly in December 2016, the 11-member committee, headed by the then Law ministerJayachandra to look into the alleged violations, concluded that 16 of 22 articles in the framework agreement had been violated by the private partner NICE.

It had also recommended an inquiry by CBI, Enforcement Directorate (ED), the vigilance commission or an investigative agency of equal standing.

NICE is the implementing agency of the BMIC project, which includes developing the 111-km four-lane expressway, five townships and supporting infrastructure.

Former MLA and businessman Ashok Kheny is the Managing Director of Nandi Infrastructure Corridor Enterprise Limited. He joined the Congress ahead of assembly polls in May.

While in opposition, Kumaraswamy and his party were staunch critics of the BMIC project and had demanded action based on the House panel report.

Karnataka Chief Minister H D KumaraswamyFriday said his government would not protect anyone involved in illegal activities, as he flayed the BJP for accusing him of "adjustment" by not acting on a legislature panel report on alleged irregularities in the Bengaluru-Mysuru Infrastructure Corridor project.

Karnataka Chief Minister H D KumaraswamyFriday said his government would not protect anyone involved in illegal activities, as he flayed the BJP for accusing him of "adjustment" by not acting on a legislature panel report on alleged irregularities in the Bengaluru-Mysuru Infrastructure Corridor project. "I have seen that a BJP MLA while demanding action based on House Committee on NICE, has accused me of adjustment (in the case). They (BJP) are the ones who taught me adjustment politics," Kumaraswamy told reporters here. Kumaraswamy said during the tenure of the BJP-JD(S) coalition government in 2006 headed by him, when he brought a subject before the cabinet to scrap the project, BJP ministers had boycotted it. "Where was their commitment then?" he asked. State BJP general secretary and MLA C T Ravi Thursday had demanded that the coalition government implement the House committee report on alleged irregularities in the implementation of the Bangalore-Mysore Infrastructure Corridor project (BMIC) by Nandi Infrastructure Corridor Enterprises(NICE). He had reportedly accused Kumaraswamy and his government of "adjustment" in the case. Kumaraswamy said, his government will not protect anyone involved in illegal activity related cases. "It has just been five-and-half months after this coalition government coming to power, give us some time. How we will work, how our programmes are...By implementing our programmes we will answer them. I need not do politics by adjustment," he said. Asked if the government will act on the House committee report, the chief minister said, the report is yet to be accepted by the Assembly. "There is time, we will take decision accordingly." In its report tabled in the Assembly in December 2016, the 11-member committee, headed by the then Law ministerJayachandra to look into the alleged violations, concluded that 16 of 22 articles in the framework agreement had been violated by the private partner NICE. It had also recommended an inquiry by CBI, Enforcement Directorate (ED), the vigilance commission or an investigative agency of equal standing. NICE is the implementing agency of the BMIC project, which includes developing the 111-km four-lane expressway, five townships and supporting infrastructure. Former MLA and businessman Ashok Kheny is the Managing Director of Nandi Infrastructure Corridor Enterprise Limited. He joined the Congress ahead of assembly polls in May. While in opposition, Kumaraswamy and his party were staunch critics of the BMIC project and had demanded action based on the House panel report.

None involved in illegal activities would be protected: Kumaraswamy

The Appointments&nbsp;Committee of the Cabinet (ACC) on Saturday appointed a new ED interim director Sanjay Mishra for a period of three months.

Mishra has been appointed the interim director for a period of either three months or till the appointment of a regular incumbent, whichever is earlier.&nbsp;

The ACC has forwarded the "necessary communication" in the matter to the Department of Revenue.

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The appointment has come as the current ED chief Karnal Singh is set to retire today.

Singh, a 1984-batch IPS officer of Union Territories cadre, will complete an over three-year tenure as the ED Director.

Sanjay Mishra, a 1984-batch Indian Revenue Service officer of the Income Tax cadre, has been appointed as the Principal Special Director in the agency and has been entrusted with the additional charge of ED Director for three months. 
 
Official sources said Mishra, posted as chief commissioner of Income Tax in Delhi at present, has not been empanelled as an additional secretary in the central government and hence has been given the top ED charge in an additional capacity.

He is expected to be empanelled soon and subsequently, will head the ED in a regular capacity, they said.

The ED director post is an additional secretary rank post in the Union government.

The ED enforces two major laws in the country to check black money&nbsp;the criminal Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA)

(With inputs from agencies)

The Appointments Committee of the Cabinet (ACC) on Saturday appointed a new ED interim director Sanjay Mishra for a period of three months. Mishra has been appointed the interim director for a period of either three months or till the appointment of a regular incumbent, whichever is earlier.

The Appointments Committee of the Cabinet (ACC) on Saturday appointed a new ED interim director Sanjay Mishra for a period of three months. Mishra has been appointed the interim director for a period of either three months or till the appointment of a regular incumbent, whichever is earlier. The ACC has forwarded the "necessary communication" in the matter to the Department of Revenue. Sanjay Mishra appointed interim director of Enforcement Directorate(ED) by Appointments Committee of the Cabinet (ACC), for a period of three months or till the appointment of a regular incumbent pic.twitter.com/qycVerhvN3 — ANI (@ANI) October 27, 2018 × The appointment has come as the current ED chief Karnal Singh is set to retire today. Singh, a 1984-batch IPS officer of Union Territories cadre, will complete an over three-year tenure as the ED Director. Sanjay Mishra, a 1984-batch Indian Revenue Service officer of the Income Tax cadre, has been appointed as the Principal Special Director in the agency and has been entrusted with the additional charge of ED Director for three months. Official sources said Mishra, posted as chief commissioner of Income Tax in Delhi at present, has not been empanelled as an additional secretary in the central government and hence has been given the top ED charge in an additional capacity. He is expected to be empanelled soon and subsequently, will head the ED in a regular capacity, they said. The ED director post is an additional secretary rank post in the Union government. The ED enforces two major laws in the country to check black money the criminal Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA) (With inputs from agencies)

Government appoints Sanjay Mishra as ED interim director for 3 months

The Enforcement Directorate (ED) Thursday conducted searches at two locations of human rights watchdog Amnesty International India here in connection with a foreign exchange contravention case, the agency said.

The searches, officials said, were launched late noon under the Foreign Exchange Management Act (FEMA) at the two locations of the NGO in the Karnataka capital and the sleuths of the central probe agency are looking for documents and other evidences.

The searches are in connection with alleged violation of foreign direct investment (FDI) norms that is linked to an earlier case of revocation of FCRA licence of the NGO by the Union Home Ministry in 2010, the ED said.

"After Amnesty International India Foundation Trust (AIIFT) was denied the permission/registration under FCRA (Foreign Contribution Regulation Act) by the MHA (ministry of home affairs) they resorted to bypass the FCRA by floating commercial entity in the name of Amnesty lnternational India Pvt Ltd (AIIPL).&nbsp;

"This entity has received foreign funds through commercial route to the extent of Rs 36 crore till date," the ED said in a statement.&nbsp;

Out of the total amount of Rs 36 crore, it said, Rs 10 crore was received as long term loans.&nbsp;

"This amount was immediately placed in FDs (fixed deposits) and another Indian entity-- Indians for Amnesty International Trust (IAIT) had established an over draft facility for Rs 14.25 crore keeping the said 10 crore FD as collateral which means the receipt of FDI by trust only.&nbsp;

"The remaining Rs 26 crore was received in two other bank accounts of AIIPL as consultancy services. The inwards remittances received by the AIIPL from overseas is in violation of FDI guidelines," it said.&nbsp;

In this background, searches were conducted at Bengaluru office of the NGO and further probe is in progress, it said.

The agency, sometime back, had frozen over a dozen bank accounts of environmental NGO Greenpeace and its linked entity after it conducted searches at their premises in Bengaluru on charges of alleged forex violations after taking cognisance of the FCRA action against it.

The Enforcement Directorate (ED) Thursday conducted searches at two locations of human rights watchdog Amnesty International India here in connection with a foreign exchange contravention case, the agency said.

The Enforcement Directorate (ED) Thursday conducted searches at two locations of human rights watchdog Amnesty International India here in connection with a foreign exchange contravention case, the agency said. The searches, officials said, were launched late noon under the Foreign Exchange Management Act (FEMA) at the two locations of the NGO in the Karnataka capital and the sleuths of the central probe agency are looking for documents and other evidences. The searches are in connection with alleged violation of foreign direct investment (FDI) norms that is linked to an earlier case of revocation of FCRA licence of the NGO by the Union Home Ministry in 2010, the ED said. "After Amnesty International India Foundation Trust (AIIFT) was denied the permission/registration under FCRA (Foreign Contribution Regulation Act) by the MHA (ministry of home affairs) they resorted to bypass the FCRA by floating commercial entity in the name of Amnesty lnternational India Pvt Ltd (AIIPL). "This entity has received foreign funds through commercial route to the extent of Rs 36 crore till date," the ED said in a statement. Out of the total amount of Rs 36 crore, it said, Rs 10 crore was received as long term loans. "This amount was immediately placed in FDs (fixed deposits) and another Indian entity-- Indians for Amnesty International Trust (IAIT) had established an over draft facility for Rs 14.25 crore keeping the said 10 crore FD as collateral which means the receipt of FDI by trust only. "The remaining Rs 26 crore was received in two other bank accounts of AIIPL as consultancy services. The inwards remittances received by the AIIPL from overseas is in violation of FDI guidelines," it said. In this background, searches were conducted at Bengaluru office of the NGO and further probe is in progress, it said. The agency, sometime back, had frozen over a dozen bank accounts of environmental NGO Greenpeace and its linked entity after it conducted searches at their premises in Bengaluru on charges of alleged forex violations after taking cognisance of the FCRA action against it.

Our structure compliant with Indian laws: Amnesty India

The Enforcement Directorate Friday moved a special court here to get the owners of Gujarat-based Sterling Biotech group, charged in an alleged Rs 8,100-crore bank loan fraud case, declared fugitive economic offenders under a new law, officials said.

They said the central agency has filed a plea before a special court of the Prevention of Money Laundering Act (PMLA), seeking to declare Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and Hitesh Patel fugitives under Section 4 of the Fugitive Economic Offenders Act, brought by the Modi government this year to check cases of large bank frauds and similar crimes.

"All the four are promoters of the Sterling Group and have fled the country to avoid criminal probe against them in a Rs 8,100-crore bank loan fraud involving a consortium of banks," a senior official said.

The agency has also sought confiscation of the assets worth over Rs 5,000 crore of the Vadodara-based business family as part of the action under the fugitive law.

The agency has filed a fresh chargesheet in this case, under the PMLA, early this week and had charged the Sandesaras and others with money laundering and siphoning bank loans.

While the Sandesaras are reported to be based in Nigeria, Patel is said to be in the US.

The agency will also move for their extradition soon, they said.

The ED had made similar pleas, under the new fugitive law, against Vijay Mallya and diamond jewellers Nirav Modi and Mehul Choksi in separate bank loan money laundering probes.

The Enforcement Directorate Friday moved a special court here to get the owners of Gujarat-based Sterling Biotech group, charged in an alleged Rs 8,100-crore bank loan fraud case, declared fugitive economic offenders under a new law, officials said.

The Enforcement Directorate Friday moved a special court here to get the owners of Gujarat-based Sterling Biotech group, charged in an alleged Rs 8,100-crore bank loan fraud case, declared fugitive economic offenders under a new law, officials said. They said the central agency has filed a plea before a special court of the Prevention of Money Laundering Act (PMLA), seeking to declare Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and Hitesh Patel fugitives under Section 4 of the Fugitive Economic Offenders Act, brought by the Modi government this year to check cases of large bank frauds and similar crimes. "All the four are promoters of the Sterling Group and have fled the country to avoid criminal probe against them in a Rs 8,100-crore bank loan fraud involving a consortium of banks," a senior official said. The agency has also sought confiscation of the assets worth over Rs 5,000 crore of the Vadodara-based business family as part of the action under the fugitive law. The agency has filed a fresh chargesheet in this case, under the PMLA, early this week and had charged the Sandesaras and others with money laundering and siphoning bank loans. While the Sandesaras are reported to be based in Nigeria, Patel is said to be in the US. The agency will also move for their extradition soon, they said. The ED had made similar pleas, under the new fugitive law, against Vijay Mallya and diamond jewellers Nirav Modi and Mehul Choksi in separate bank loan money laundering probes.

Rs 8,100 crore bank loan fraud: ED moves court against Sterling Biotech group promoters

The ED has registered a money laundering case in the Muzzafarpur&nbsp;shelter home matter pertaining to alleged rape of minor girls by officials of the centre, officials said Wednesday.

They said the central probe agency has filed a case under the Prevention of Money Laundering Act (PMLA) taking cognisance of a CBI FIR.

The Enforcement Directorate, they said, will soon issue summons to the accused including the centre owner Brajesh Thakur.

It will probe if illegal funds were generated and laundered by this alleged criminal activity, they said.

Over 30 girls were allegedly raped at the centre run by Thakur, chief of the state-funded NGO.

The alleged sexual exploitation of the girls was first highlighted in an audit report submitted by the Tata Institute of Social Science (TISS), Mumbai, to the state's Social Welfare Department in April.

An FIR was lodged on May 31 against 11 people, including Thakur, the owner of the NGO which ran the government-funded shelter home for destitute girls. The probe was later taken over by the CBI.

In all, sexual abuse of 34 inmates out of 42 was confirmed in their medical examination while two others who were unwell were yet to undergo medical tests.

The TISS audit report stated that many girls at the shelter home had complained of sexual abuse. A special investigation team was formed to probe the complaints.

The NGO running the shelter home in Muzaffarpur was blacklisted and the girls were shifted to shelter homes in Patna and Madhubani.

Women staff members of the shelter home and Thakur, who ran the NGO, were among those who were arrested by the local police in connection with the case.

The ED has registered a money laundering case in the Muzzafarpur shelter home matter pertaining to alleged rape of minor girls by officials of the centre, officials said Wednesday.

The ED has registered a money laundering case in the Muzzafarpur shelter home matter pertaining to alleged rape of minor girls by officials of the centre, officials said Wednesday. They said the central probe agency has filed a case under the Prevention of Money Laundering Act (PMLA) taking cognisance of a CBI FIR. The Enforcement Directorate, they said, will soon issue summons to the accused including the centre owner Brajesh Thakur. It will probe if illegal funds were generated and laundered by this alleged criminal activity, they said. Over 30 girls were allegedly raped at the centre run by Thakur, chief of the state-funded NGO. The alleged sexual exploitation of the girls was first highlighted in an audit report submitted by the Tata Institute of Social Science (TISS), Mumbai, to the state's Social Welfare Department in April. An FIR was lodged on May 31 against 11 people, including Thakur, the owner of the NGO which ran the government-funded shelter home for destitute girls. The probe was later taken over by the CBI. In all, sexual abuse of 34 inmates out of 42 was confirmed in their medical examination while two others who were unwell were yet to undergo medical tests. The TISS audit report stated that many girls at the shelter home had complained of sexual abuse. A special investigation team was formed to probe the complaints. The NGO running the shelter home in Muzaffarpur was blacklisted and the girls were shifted to shelter homes in Patna and Madhubani. Women staff members of the shelter home and Thakur, who ran the NGO, were among those who were arrested by the local police in connection with the case.

Muzaffarpur shelter battle: ED registers money laundering case

The <a href="http://www.wionews.com/india-news/pnb-fraud-ed-eyes-rs-4000-cr-foreign-assets-of-nirav-modi-for-attachment-under-pmla-166495">Enforcement Directorate</a> on Monday attached properties and bank accounts worth Rs 637 crore&nbsp;of absconding jeweller Nirav Modi and his family.

The assets have been seized in India and four other countries including UK and USA.

Also read: <a href="http://www.wionews.com/india-news/request-for-extradition-of-nirav-modi-sent-to-uk-government-mos-mea-vk-singh--156699">Request for </a><a href="http://www.wionews.com/india-news/request-for-extradition-of-nirav-modi-sent-to-uk-government-mos-mea-vk-singh--156699">extradition</a><a href="http://www.wionews.com/india-news/request-for-extradition-of-nirav-modi-sent-to-uk-government-mos-mea-vk-singh--156699"> of Nirav Modi sent to UK government: MEA VK Singh</a>

The assets seized include diamond studded jewellery worth Rs 22.69 crore which has been brought back to India from Hong Kong, a flat in South Mumbai worth Rs 19.5 crore,&nbsp;and two immovable properties having a total value of US $29.99 million (Rs 216 crores approximately).

Besides this, the ED also attached five overseas bank accounts belonging to Nirav Modi with a total balance of Rs 278 crore.&nbsp;

The ED has attached the properties and bank accounts of the fugitive diamantaire under section 5 of the Prevention of Money laundering Act.

The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act (PMLA), it said.

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The agency, a senior official said, also got issued an <a href="http://www.wionews.com/india-news/interpol-issues-red-notice-against-nirav-modis-sister-purvi--164840">Interpol Red Corner notice</a> (global arrest warrant) against Aditya Nanavati, an accused in the same case, on charges of money laundering.

There are only very few cases where Indian agencies have attached assets abroad in a criminal probe.

Nirav Modi and his uncle Mehul Choksi are the main accused in the case where it is alleged that the two diamond jewellery businessmen allegedly duped and defrauded the Brady House branch of the Punjab National Bank in Mumbai for an amount of US $2 billion (about 13,000 crore) in purported connivance with bank officials.&nbsp;

(With inputs from PTI)

The Enforcement Directorate on Monday attached properties and bank accounts worth Rs 637 crore of absconding jeweller Nirav Modi and his family. The assets have been seized in India and four other countries including UK and USA.

The Enforcement Directorate on Monday attached properties and bank accounts worth Rs 637 crore of absconding jeweller Nirav Modi and his family. The assets have been seized in India and four other countries including UK and USA. Also read: Request for extradition of Nirav Modi sent to UK government: MEA VK Singh The assets seized include diamond studded jewellery worth Rs 22.69 crore which has been brought back to India from Hong Kong, a flat in South Mumbai worth Rs 19.5 crore, and two immovable properties having a total value of US $29.99 million (Rs 216 crores approximately). Besides this, the ED also attached five overseas bank accounts belonging to Nirav Modi with a total balance of Rs 278 crore. The ED has attached the properties and bank accounts of the fugitive diamantaire under section 5 of the Prevention of Money laundering Act. The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act (PMLA), it said. Enforcement Directorate attaches attaches properties and bank accounts to the tune of Rs 637 crore in Nirav Modi case. pic.twitter.com/Gsz6MFWq4O — ANI (@ANI) October 1, 2018 × The agency, a senior official said, also got issued an Interpol Red Corner notice (global arrest warrant) against Aditya Nanavati, an accused in the same case, on charges of money laundering. There are only very few cases where Indian agencies have attached assets abroad in a criminal probe. Nirav Modi and his uncle Mehul Choksi are the main accused in the case where it is alleged that the two diamond jewellery businessmen allegedly duped and defrauded the Brady House branch of the Punjab National Bank in Mumbai for an amount of US $2 billion (about 13,000 crore) in purported connivance with bank officials. (With inputs from PTI)

PNB fraud: ED attaches Rs 637 crore assets of Nirav Modi, family in 5 countries

Recently the Supreme Court struck down a part of Section 377 of the Indian Penal Code as being “manifestly arbitrary”. Whether the State can be restrained by such principles of “manifest arbitrariness” and “disproportionality” in cases of economic offences like Prevention of Money Laundering Act (PMLA) as far as attachment of property is concerned, more so when such acts reveal noble objectives? The issue facing us, right from the time of the dismissal of the Namboodiripad government in Kerala, are the allegations that all kinds of powers — constitutional, economic, investigative etc. — are abused.

The scourge of drugs and crime directed attention towards money laundering. The United Nations Convention against Corruption adopted in October 2013 mandates “strengthening international cooperation in preventing and combating the transfer of funds of illicit origin, derived from acts of corruption, including the laundering of funds, and in returning such funds”. The stress, quite evidently, was on getting back economic gains of crime to the “common good” of the society. There existed a global consensus to go after “proceeds of crime”. The PMLA seeks to mitigate such anxieties of the community.

Acting under PMLA, the Enforcement Directorate (ED) has of late knocked on the doors of the rich and mighty, including politicians, business houses, regional leaders and bookies. But what bothers businesses is the ED’s competence to inflict on citizens a reverse burden of proof, especially in case of pre-trial attachment of property and funds just on basis of reasons to believe of the investigative authority and not concrete facts. So even without an investigation being completed, you can be charged and your property can be attached just because a complaint/investigation exists against you. The germane question is to what extent the burden of proof is placed on an individual and businesses. What happens to rule of being “presumed innocent till proven guilty”? How would it affect prosecution in money laundering and economic offences?

PMLA provides for attachment of property involved in money laundering even before the stage of trial itself, which effectively means that though a citizen is presumed not guilty, he is deprived of control over his property, when the prosecution believes that it comes from tainted money, effectively destroying lives, families, reputations and businesses, just on the basis of investigators’ reason to believe and not on evidence. The rights of the citizen without even a charge being framed ought to be protected. At this stage, what would be cardinal is to protect businesses and reputations. In Babu versus State of Kerala, the Supreme Court articulated that it is true that certain statutes “provide for a presumption of guilt if the circumstances provided in those statutes are found to be fulfilled and shift the burden of proof of innocence on the accused. However, such a presumption can also be raised only when certain foundational facts are established by the prosecution. There may be difficulty in proving a negative fact”.

The same rule would also apply to attachment proceedings if not through criminal jurisprudence, assuming that attachment proceedings are civil proceedings, then through articles 14, 19 and 21 of the Constitution which introduce the doctrines of proportionality and reasonableness. Thus implying that even where the presumption of tainted activity is provided for in law, all State action has to be based on reasonable ground and no disproportionate action is permissible.

Similar provisions exist in NDPS ACT for offences only under NDPS Act and not for any general or regular crimes outside the ambit of NDPS. PMLA allows invoking the scheduled offences clause under PMLA, wherein a citizen’s property can be confiscated for crimes like murder which are not driven by “commercial gains”. Here the economic effect can even be as low as Rs 500.

Prosecution giving effect to attachments without itself first substantiating foundational facts can fall foul of Article 14 of the Constitution, as nothing could be more excessive and disproportionate than depriving a person of his reputation and property without establishing, in fact, the presence of the “proceeds of crime” and establishing prima facie “money laundering”. Justice Nariman writing for the majority in Shayara Bano versus Union of India held “Also, when something is done which is excessive and disproportionate, such legislation would be manifestly arbitrary…”

An illustration of this would be ED attaching properties worth Rs 200 crore when it can establish foundational fact for only 100 crore. The moment foundational fact jurisprudence comes in, mere reasons to believe would not mean mere suspicion but at least a grave suspicion and reasonably speaking, some more facts than mere grave suspicion. Economic transaction in the modern world is dependent on factors like Registration Act even if money is shifted through hawala, banking transactions and other checks and control. Again, attachment or confiscation without proving foundational fact would also go contrary to the right to reputation which forms part of Article 21 of the Constitution. Supreme Court in Subramanian Swamy’s case opined in the following terms: “...We have already held that reputation is an inextricable aspect of the right to life under Article 21 of the Constitution and the State in order to sustain and protect the said reputation of an individual has kept the provision under Section 499 IPC alive as a part of the law.”

Hence any attachment under PMLA without conforming to the principle of foundational facts would be susceptible to constitutional challenge as destroying reputations and lives and the principles of reasonableness and proportionality would act as a fetter on state action.

(The authors are advocates in the Supreme Court.)

(This article was originally published on DNA. Read the <a href="https://www.dnaindia.com/analysis/column-no-place-for-arbitrary-acts-2668751">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Recently the Supreme Court struck down a part of Section 377 of the Indian Penal Code as being “manifestly arbitrary”. Whether the State can be restrained by such principles of “manifest arbitrariness” and “disproportionality” in cases of economic offences like Prevention of Money Laundering Act (PMLA) as far as attachment of property is concerned, more so when such acts reveal noble objectives?

Recently the Supreme Court struck down a part of Section 377 of the Indian Penal Code as being “manifestly arbitrary”. Whether the State can be restrained by such principles of “manifest arbitrariness” and “disproportionality” in cases of economic offences like Prevention of Money Laundering Act (PMLA) as far as attachment of property is concerned, more so when such acts reveal noble objectives? The issue facing us, right from the time of the dismissal of the Namboodiripad government in Kerala, are the allegations that all kinds of powers — constitutional, economic, investigative etc. — are abused. The scourge of drugs and crime directed attention towards money laundering. The United Nations Convention against Corruption adopted in October 2013 mandates “strengthening international cooperation in preventing and combating the transfer of funds of illicit origin, derived from acts of corruption, including the laundering of funds, and in returning such funds”. The stress, quite evidently, was on getting back economic gains of crime to the “common good” of the society. There existed a global consensus to go after “proceeds of crime”. The PMLA seeks to mitigate such anxieties of the community. Acting under PMLA, the Enforcement Directorate (ED) has of late knocked on the doors of the rich and mighty, including politicians, business houses, regional leaders and bookies. But what bothers businesses is the ED’s competence to inflict on citizens a reverse burden of proof, especially in case of pre-trial attachment of property and funds just on basis of reasons to believe of the investigative authority and not concrete facts. So even without an investigation being completed, you can be charged and your property can be attached just because a complaint/investigation exists against you. The germane question is to what extent the burden of proof is placed on an individual and businesses. What happens to rule of being “presumed innocent till proven guilty”? How would it affect prosecution in money laundering and economic offences? PMLA provides for attachment of property involved in money laundering even before the stage of trial itself, which effectively means that though a citizen is presumed not guilty, he is deprived of control over his property, when the prosecution believes that it comes from tainted money, effectively destroying lives, families, reputations and businesses, just on the basis of investigators’ reason to believe and not on evidence. The rights of the citizen without even a charge being framed ought to be protected. At this stage, what would be cardinal is to protect businesses and reputations. In Babu versus State of Kerala, the Supreme Court articulated that it is true that certain statutes “provide for a presumption of guilt if the circumstances provided in those statutes are found to be fulfilled and shift the burden of proof of innocence on the accused. However, such a presumption can also be raised only when certain foundational facts are established by the prosecution. There may be difficulty in proving a negative fact”. The same rule would also apply to attachment proceedings if not through criminal jurisprudence, assuming that attachment proceedings are civil proceedings, then through articles 14, 19 and 21 of the Constitution which introduce the doctrines of proportionality and reasonableness. Thus implying that even where the presumption of tainted activity is provided for in law, all State action has to be based on reasonable ground and no disproportionate action is permissible. Similar provisions exist in NDPS ACT for offences only under NDPS Act and not for any general or regular crimes outside the ambit of NDPS. PMLA allows invoking the scheduled offences clause under PMLA, wherein a citizen’s property can be confiscated for crimes like murder which are not driven by “commercial gains”. Here the economic effect can even be as low as Rs 500. Prosecution giving effect to attachments without itself first substantiating foundational facts can fall foul of Article 14 of the Constitution, as nothing could be more excessive and disproportionate than depriving a person of his reputation and property without establishing, in fact, the presence of the “proceeds of crime” and establishing prima facie “money laundering”. Justice Nariman writing for the majority in Shayara Bano versus Union of India held “Also, when something is done which is excessive and disproportionate, such legislation would be manifestly arbitrary…” An illustration of this would be ED attaching properties worth Rs 200 crore when it can establish foundational fact for only 100 crore. The moment foundational fact jurisprudence comes in, mere reasons to believe would not mean mere suspicion but at least a grave suspicion and reasonably speaking, some more facts than mere grave suspicion. Economic transaction in the modern world is dependent on factors like Registration Act even if money is shifted through hawala, banking transactions and other checks and control. Again, attachment or confiscation without proving foundational fact would also go contrary to the right to reputation which forms part of Article 21 of the Constitution. Supreme Court in Subramanian Swamy’s case opined in the following terms: “...We have already held that reputation is an inextricable aspect of the right to life under Article 21 of the Constitution and the State in order to sustain and protect the said reputation of an individual has kept the provision under Section 499 IPC alive as a part of the law.” Hence any attachment under PMLA without conforming to the principle of foundational facts would be susceptible to constitutional challenge as destroying reputations and lives and the principles of reasonableness and proportionality would act as a fetter on state action. (The authors are advocates in the Supreme Court.) (This article was originally published on DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

There is no place for arbitrary acts

The Enforcement Directorate (ED) is expected to file a fresh charge sheet against former finance minister P Chidambaram‘s son Karti Chidambaram in connection with the latter’s alleged involvement in the Aircel-Maxis Case.

Talking to ANI on the issue, BJP senior leader, Subramanian Swamy said that the charge sheet should have been filed much earlier, but due to some officers in the ED who were trying to help Chidambaram, the process got delayed. He said, “This should have been done much earlier but few officers of the Central Bureau of Investigation were helping Chidambaram, even a few ministers were helping him, but now the Prime Minister has stopped all these. The CBI and the ED have been asked not to entertain any interference from anyone and take their own decisions.”

“After the charge sheet will be filed against Karti, another will be issued against Chidambaram. Chidambaram will again have to appear before the ED, he keeps on lying but gets caught.” P. Chidambaram’s son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too. He allegedly took service charges for getting the FIPB clearance to INX Media for receiving funds from abroad worth Rs 305 crore in 2007 when his father was the finance minister.

The Aircel-Maxis deal case, which emerged out of 2G spectrum cases, pertains to a grant by the Foreign Investment Promotion Board (FIPB) to firm M/S Global Communication Holding Services Ltd for investment in Aircel. The ED had earlier said that the FIPB approval granted in 2006 by Chidambaram was beyond his mandate as he was only authorised to accord approval on project proposals up to Rs 600 crore.

On June 12, P Chidambaram appeared before the Enforcement Directorate for the second time for a fresh round of questioning pertaining to the alleged money laundering in the case. The former finance minister has been given protection from arrest by the ED till July 10 by the Patiala House Court.

The ED had earlier said that the FIPB approval granted in 2006 by Chidambaram was beyond his mandate as he was only authorised to accord approval on project proposals up to Rs 600 crore.

The Enforcement Directorate (ED) is expected to file a fresh charge sheet against former finance minister P Chidambaram‘s son Karti Chidambaram in connection with the latter’s alleged involvement in the Aircel-Maxis Case. Talking to ANI on the issue, BJP senior leader, Subramanian Swamy said that the charge sheet should have been filed much earlier, but due to some officers in the ED who were trying to help Chidambaram, the process got delayed. He said, “This should have been done much earlier but few officers of the Central Bureau of Investigation were helping Chidambaram, even a few ministers were helping him, but now the Prime Minister has stopped all these. The CBI and the ED have been asked not to entertain any interference from anyone and take their own decisions.” “After the charge sheet will be filed against Karti, another will be issued against Chidambaram. Chidambaram will again have to appear before the ED, he keeps on lying but gets caught.” P. Chidambaram’s son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too. He allegedly took service charges for getting the FIPB clearance to INX Media for receiving funds from abroad worth Rs 305 crore in 2007 when his father was the finance minister. The Aircel-Maxis deal case, which emerged out of 2G spectrum cases, pertains to a grant by the Foreign Investment Promotion Board (FIPB) to firm M/S Global Communication Holding Services Ltd for investment in Aircel. The ED had earlier said that the FIPB approval granted in 2006 by Chidambaram was beyond his mandate as he was only authorised to accord approval on project proposals up to Rs 600 crore. On June 12, P Chidambaram appeared before the Enforcement Directorate for the second time for a fresh round of questioning pertaining to the alleged money laundering in the case. The former finance minister has been given protection from arrest by the ED till July 10 by the Patiala House Court.

Aircel-Maxis case: ED likely to file fresh charge sheet against Karti Chidambaram

The Enforcement Directorate (ED) has filed a charge sheet against Karti Chidambaram in Aircel-Maxis Case case in Delhi's Patiala House Court. The next date of hearing is July 4, ANI reported.&nbsp;

Talking to ANI on the issue, BJP senior leader, Subramanian Swamy said that the charge sheet should have been filed much earlier, but due to some officers in the ED who were trying to help Chidambaram, the process got delayed. He said, “This should have been done much earlier but few officers of the Central Bureau of Investigation were helping Chidambaram, even a few ministers were helping him, but now the Prime Minister has stopped all these. The CBI and the ED have been asked not to entertain any interference from anyone and take their own decisions.”

“After the charge sheet will be filed against Karti, another will be issued against Chidambaram. Chidambaram will again have to appear before the ED, he keeps on lying but gets caught.” P. Chidambaram’s son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too. He allegedly took service charges for getting the FIPB clearance to INX Media for receiving funds from abroad worth Rs 305 crore in 2007 when his father was the finance minister.

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Aircel-Maxis case: ED names Ravi Viswanathan&Padma - Directors of Advantage Strategic Consultancy Ltd, Karti Chidambaram, Advantage Strategic Consultancy Pvt Ltd, Annamalai Palaniappan - Director Chess Mgmt Services Pvt Ltd&Chess Mgmt Services Pvt Ltd in charge sheet filed today.
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1006847658642759680?ref_src=twsrc%5Etfw">June 13, 2018</a></blockquote>
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On June 6, the Enforcement Directorate said it has again summoned former Union Finance Minister P Chidambaram on June 12 for questioning in the Rs 3,500 crore Aircel-Maxis case.

Chidambaram was quizzed by the ED on June 5 for over five hours and his statement recorded under the Prevention of Money Laundering Act (PMLA) in the Aircel-Maxis case.&nbsp;

The Central Bureau of Investigation (CBI) and the ED are investigating how Karti Chidambaram allegedly managed to get a clearance from the Foreign Investment Promotion Board (FIPB) in the Aircel-Maxis deal when his father was the Union Finance Minister in 2006.

The ED, in September 2017, had attached Karti's assets worth Rs 1.16 crore. Karti faces probe for allegedly receiving kickbacks in lieu of the FIPB clearance.

(With inputs from ANI)&nbsp;

Chidambaram's alleged role came under the scanner of investigating agencies in connection with the Foreign Investment Promotion Board (FIPB) clearance of Rs 305 crore

The Enforcement Directorate (ED) has filed a charge sheet against Karti Chidambaram in Aircel-Maxis Case case in Delhi's Patiala House Court. The next date of hearing is July 4, ANI reported. Talking to ANI on the issue, BJP senior leader, Subramanian Swamy said that the charge sheet should have been filed much earlier, but due to some officers in the ED who were trying to help Chidambaram, the process got delayed. He said, “This should have been done much earlier but few officers of the Central Bureau of Investigation were helping Chidambaram, even a few ministers were helping him, but now the Prime Minister has stopped all these. The CBI and the ED have been asked not to entertain any interference from anyone and take their own decisions.” “After the charge sheet will be filed against Karti, another will be issued against Chidambaram. Chidambaram will again have to appear before the ED, he keeps on lying but gets caught.” P. Chidambaram’s son Karti was arrested on February 28 at the Chennai airport upon his return from the United Kingdom, for his alleged role in the case. Currently, Karti is on bail too. He allegedly took service charges for getting the FIPB clearance to INX Media for receiving funds from abroad worth Rs 305 crore in 2007 when his father was the finance minister. Aircel-Maxis case: ED names Ravi Viswanathan&Padma - Directors of Advantage Strategic Consultancy Ltd, Karti Chidambaram, Advantage Strategic Consultancy Pvt Ltd, Annamalai Palaniappan - Director Chess Mgmt Services Pvt Ltd&Chess Mgmt Services Pvt Ltd in charge sheet filed today. — ANI (@ANI) June 13, 2018 × On June 6, the Enforcement Directorate said it has again summoned former Union Finance Minister P Chidambaram on June 12 for questioning in the Rs 3,500 crore Aircel-Maxis case. Chidambaram was quizzed by the ED on June 5 for over five hours and his statement recorded under the Prevention of Money Laundering Act (PMLA) in the Aircel-Maxis case. The Central Bureau of Investigation (CBI) and the ED are investigating how Karti Chidambaram allegedly managed to get a clearance from the Foreign Investment Promotion Board (FIPB) in the Aircel-Maxis deal when his father was the Union Finance Minister in 2006. The ED, in September 2017, had attached Karti's assets worth Rs 1.16 crore. Karti faces probe for allegedly receiving kickbacks in lieu of the FIPB clearance. (With inputs from ANI)

Aircel-Maxis case: ED files charge sheet against Karti Chidambaram

According to reports, the Enforcement Directorate (ED) will file a charge sheet against Karti Chidambaram in Aircel Maxis case on Wednesday in Delhi's Patiala House Court.

On June 6, the Enforcement Directorate said it has again summoned former Union Finance Minister P Chidambaram on June 12 for questioning in the Rs 3,500 crore Aircel-Maxis case.

Chidambaram was quizzed by the ED on June 5 for over five hours and his statement recorded under the Prevention of Money Laundering Act (PMLA) in the Aircel-Maxis case.&nbsp

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Enforcement Directorate to file a charge sheet against Karti Chidambaram in Aircel Maxis case tomorrow in Delhi's Patiala House Court.
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1006522684363059200?ref_src=twsrc%5Etfw">June 12, 2018</a></blockquote>
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Chidambaram's alleged role came under the scanner of investigating agencies in connection with the Foreign Investment Promotion Board (FIPB) clearance of Rs 305 crore.

The Central Bureau of Investigation (CBI) and the ED are investigating how Karti Chidambaram allegedly managed to get a clearance from the Foreign Investment Promotion Board (FIPB) in the Aircel-Maxis deal when his father was the Union Finance Minister in 2006.

The ED, in September 2017, had attached Karti's assets worth Rs 1.16 crore. Karti faces probe for allegedly receiving kickbacks in lieu of the FIPB clearance.

On June 6, the Enforcement Directorate said it has again summoned former Union Finance Minister P Chidambaram on June 12 for questioning

According to reports, the Enforcement Directorate (ED) will file a charge sheet against Karti Chidambaram in Aircel Maxis case on Wednesday in Delhi's Patiala House Court. On June 6, the Enforcement Directorate said it has again summoned former Union Finance Minister P Chidambaram on June 12 for questioning in the Rs 3,500 crore Aircel-Maxis case. Chidambaram was quizzed by the ED on June 5 for over five hours and his statement recorded under the Prevention of Money Laundering Act (PMLA) in the Aircel-Maxis case. Enforcement Directorate to file a charge sheet against Karti Chidambaram in Aircel Maxis case tomorrow in Delhi's Patiala House Court. — ANI (@ANI) June 12, 2018 × Chidambaram's alleged role came under the scanner of investigating agencies in connection with the Foreign Investment Promotion Board (FIPB) clearance of Rs 305 crore. The Central Bureau of Investigation (CBI) and the ED are investigating how Karti Chidambaram allegedly managed to get a clearance from the Foreign Investment Promotion Board (FIPB) in the Aircel-Maxis deal when his father was the Union Finance Minister in 2006. The ED, in September 2017, had attached Karti's assets worth Rs 1.16 crore. Karti faces probe for allegedly receiving kickbacks in lieu of the FIPB clearance.

Aircel-Maxis case: ED to file charge sheet against Karti Chidambaram tomorrow

Former Union minister&nbsp;P Chidambaram&nbsp;was on Tuesday questioned in the&nbsp;Aircel-Maxis&nbsp;case for the first time by the Enforcement Directorate, a department which was under him during his tenure in the finance ministry. 
 
The senior Congress leader, who was considered one of the most powerful ministers in the previous UPA government, was questioned by the probe agency for over six hours. 
 
The agency recorded his statement under the&nbsp;PMLA&nbsp;(Prevention of Money Laundering Act) with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board (FIPB) while giving approval to the Aircel-Maxis deal during his tenure. 
 
Chidambaram's son Karti has already been questioned by the ED twice in this case. 
 
Soon after leaving the ED office, Chidambaram tweeted to say that all the answers he gave to the probe agency were already recorded in government documents. 
 
He also said that there is no FIR, yet a probe had been initiated. 
 
"More than half the time taken up by typing the answers without errors, reading the statement and signing it!" he said in his tweet.

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More than half the time taken up by typing the answers without errors, reading the statement and signing it!
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Chidambaram arrived at the agency's headquarters annexe office here around 10:58 am accompanied by a lawyer, even as a strong contingent of police and CRPF personnel set up a security cordon at the office. 
 
He was allowed by the agency to go out for lunch around 1:30 pm after over two hours of questioning, officials said. 
 
The next round of questioning began about 3:30 pm which ended around 7 pm, they said. 
 
It is expected that the agency may call him again. 
 
The ED had issued a fresh summons to him yesterday to appear before the investigating officer of the case. 
 
Chidambaram, also a former home minister, had last week approached the court of special judge OP Saini seeking relief from arrest by the ED in the case. 
 
The same court today directed the ED not to take any coercive action or arrest him till July 10 in connection with the case. 
 
The ED had first asked him to appear before it on May 30 and on the same day, Chidambaram knocked the court's door. 
 
The court, in its order on May 30, had noted that Chidambaram has undertaken to comply with the summons issued by the ED, while saying he apprehended his arrest by the agency. 
 
The Aircel-Maxis cases pertains to grant of Foreign Investment Promotion Board clearance to firm M/S Global Communication Holding Services Ltd in 2006 for investment in Aircel. 
 
The Supreme Court had on March 12 directed investigating agencies -- the CBI and the ED -- to complete their probe into the 2G spectrum allocation cases, including the Aircel Maxis alleged money laundering case, in six months. 
 
The agency had said that the FIPB approval in the Aircel-Maxis FDI case was granted in March 2006 by Chidambaram even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA). 
 
The ED is investigating "the circumstances of the FIPB approval granted (in 2006) by the then finance minister." 
 
"In the instant case, the approval for FDI of $800 million (over Rs 3,500 crore) was sought. Hence, the CCEA was competent to grant the approval. 
 
"However, the approval was not obtained from the CCEA," the ED had alleged. 
 
The agency said its probe revealed that the case of the said FDI was "wrongly projected as an investment of Rs 180 crore so that it need not be sent to the CCEA to avoid a detailed scrutiny".&nbsp;

The senior Congress leader, who was considered one of the most powerful ministers in the previous UPA government, was questioned by the probe agency for over six hours

Former Union minister P Chidambaram was on Tuesday questioned in the Aircel-Maxis case for the first time by the Enforcement Directorate, a department which was under him during his tenure in the finance ministry. The senior Congress leader, who was considered one of the most powerful ministers in the previous UPA government, was questioned by the probe agency for over six hours. The agency recorded his statement under the PMLA (Prevention of Money Laundering Act) with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board (FIPB) while giving approval to the Aircel-Maxis deal during his tenure. Chidambaram's son Karti has already been questioned by the ED twice in this case. Soon after leaving the ED office, Chidambaram tweeted to say that all the answers he gave to the probe agency were already recorded in government documents. He also said that there is no FIR, yet a probe had been initiated. "More than half the time taken up by typing the answers without errors, reading the statement and signing it!" he said in his tweet. More than half the time taken up by typing the answers without errors, reading the statement and signing it! — P. Chidambaram (@PChidambaram_IN) June 5, 2018 × Chidambaram arrived at the agency's headquarters annexe office here around 10:58 am accompanied by a lawyer, even as a strong contingent of police and CRPF personnel set up a security cordon at the office. He was allowed by the agency to go out for lunch around 1:30 pm after over two hours of questioning, officials said. The next round of questioning began about 3:30 pm which ended around 7 pm, they said. It is expected that the agency may call him again. The ED had issued a fresh summons to him yesterday to appear before the investigating officer of the case. Chidambaram, also a former home minister, had last week approached the court of special judge OP Saini seeking relief from arrest by the ED in the case. The same court today directed the ED not to take any coercive action or arrest him till July 10 in connection with the case. The ED had first asked him to appear before it on May 30 and on the same day, Chidambaram knocked the court's door. The court, in its order on May 30, had noted that Chidambaram has undertaken to comply with the summons issued by the ED, while saying he apprehended his arrest by the agency. The Aircel-Maxis cases pertains to grant of Foreign Investment Promotion Board clearance to firm M/S Global Communication Holding Services Ltd in 2006 for investment in Aircel. The Supreme Court had on March 12 directed investigating agencies -- the CBI and the ED -- to complete their probe into the 2G spectrum allocation cases, including the Aircel Maxis alleged money laundering case, in six months. The agency had said that the FIPB approval in the Aircel-Maxis FDI case was granted in March 2006 by Chidambaram even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA). The ED is investigating "the circumstances of the FIPB approval granted (in 2006) by the then finance minister." "In the instant case, the approval for FDI of $800 million (over Rs 3,500 crore) was sought. Hence, the CCEA was competent to grant the approval. "However, the approval was not obtained from the CCEA," the ED had alleged. The agency said its probe revealed that the case of the said FDI was "wrongly projected as an investment of Rs 180 crore so that it need not be sent to the CCEA to avoid a detailed scrutiny".

Aircel-Maxis case: Chidambaram appears before ED, grilled for 6 hours

The Enforcement Directorate has issued a notice to former finance minister P Chidambaram asking him to appear for questioning tomorrow in the Aircel-Maxis case, ANI reported sources as saying.&nbsp;

The authorities began looking at the Aircel-Maxis deal after Aircel owner C Sivasankaran lodged a complaint with the Central Bureau of Investigation alleging he was pressurised to sell his stake to Maxis.

The CBI and the ED are both investigating the case.&nbsp;

In February this year, the CBI arrested Chidambaram's son Karti in connection with the case.

In September 2017, the Enforcement Directorate attached assets belonging to Karti worth Rs 1.16 crore.&nbsp;

In December, the ED searched the homes and offices of Karti's close relatives.

And in January this year, the ED searched Karti's Delhi and Chennai properties.&nbsp;

The ED has summoned the former finance minister for questioning in connection with the Aircel-Maxis case on Tuesday

The Enforcement Directorate has issued a notice to former finance minister P Chidambaram asking him to appear for questioning tomorrow in the Aircel-Maxis case, ANI reported sources as saying. The authorities began looking at the Aircel-Maxis deal after Aircel owner C Sivasankaran lodged a complaint with the Central Bureau of Investigation alleging he was pressurised to sell his stake to Maxis. The CBI and the ED are both investigating the case. In February this year, the CBI arrested Chidambaram's son Karti in connection with the case. In September 2017, the Enforcement Directorate attached assets belonging to Karti worth Rs 1.16 crore. In December, the ED searched the homes and offices of Karti's close relatives. And in January this year, the ED searched Karti's Delhi and Chennai properties.

ED issues notice summoning Chidambaram for questioning: Sources

The Enforcement Directorate (ED) on Tuesday attached assets worth Rs 177 crore owned by Kanpur-based Rotomac Global in connection with its money laundering case.&nbsp

The Rotomac Global group has been involved in an alleged bank loan fraud of Rs 3,695 crore.&nbsp

The agency said it has issued a provisional order yesterday under the Prevention of Money Laundering Act (PMLA) for attachment of properties "owned by Ms Rotomac Global Private Limited and its directors located at Kanpur (Uttar Pradesh), Dehradun (Uttarakhand), Ahmedabad and Gandhi Nagar (Gujarat) and Mumbai (Maharashtra) valuing Rs 177 crore."&nbsp

Previously on February 27, Income Tax (IT) Department filed 12 prosecution cases against Rotomac Global under various sections of the IT Act, 1961 in connection with the alleged loan default.

It alleged that these assets were the "proceeds of crime" of the illegal act of money laundering.&nbsp

The ED probe revealed, the agency said in a statement, that Ms Rotomac Global Private Limited "indulged in merchanting trade with limited number of buyers and sellers and it used to receive back the discounted LC (letters of credit) amount from the overseas beneficiary after deduction of 1.5-2 per cent commission by them either directly into the accounts of Rotomac group companies or into the accounts of overseas companies controlled by owner Vikram Kothari."&nbsp

This discounted LC amount, it said, thereafter has been used by the firm for "other business activities" such as FDR (fixed deposit receipts), iron ore purchase and investment in real estate.&nbsp

The CBI had earlier registered an FIR against Kotharis who allegedly owe Rs 754.77 crore to the Bank of India, Rs 456.63 crore to the Bank of Baroda, Rs 771.07 crore to the Indian Overseas Bank, Rs 458.95 crore to the Union Bank of India, Rs 330.68 crore to the Allahabad Bank, Rs 49.82 crore to the Bank of Maharashtra and Rs 97.47 crore to the Oriental Bank of Commerce.

The ED probe was aimed at finding out if the funds obtained through the alleged fraud were laundered and if the proceeds of the crime were subsequently used by the accused to create illegal assets and black money.&nbsp 
&nbsp

The Rotomac Global group has been involved in an alleged bank loan fraud of Rs 3,695 crore

The Enforcement Directorate (ED) on Tuesday attached assets worth Rs 177 crore owned by Kanpur-based Rotomac Global in connection with its money laundering case. The Rotomac Global group has been involved in an alleged bank loan fraud of Rs 3,695 crore. The agency said it has issued a provisional order yesterday under the Prevention of Money Laundering Act (PMLA) for attachment of properties "owned by Ms Rotomac Global Private Limited and its directors located at Kanpur (Uttar Pradesh), Dehradun (Uttarakhand), Ahmedabad and Gandhi Nagar (Gujarat) and Mumbai (Maharashtra) valuing Rs 177 crore." Previously on February 27, Income Tax (IT) Department filed 12 prosecution cases against Rotomac Global under various sections of the IT Act, 1961 in connection with the alleged loan default. It alleged that these assets were the "proceeds of crime" of the illegal act of money laundering. The ED probe revealed, the agency said in a statement, that Ms Rotomac Global Private Limited "indulged in merchanting trade with limited number of buyers and sellers and it used to receive back the discounted LC (letters of credit) amount from the overseas beneficiary after deduction of 1.5-2 per cent commission by them either directly into the accounts of Rotomac group companies or into the accounts of overseas companies controlled by owner Vikram Kothari." This discounted LC amount, it said, thereafter has been used by the firm for "other business activities" such as FDR (fixed deposit receipts), iron ore purchase and investment in real estate. The CBI had earlier registered an FIR against Kotharis who allegedly owe Rs 754.77 crore to the Bank of India, Rs 456.63 crore to the Bank of Baroda, Rs 771.07 crore to the Indian Overseas Bank, Rs 458.95 crore to the Union Bank of India, Rs 330.68 crore to the Allahabad Bank, Rs 49.82 crore to the Bank of Maharashtra and Rs 97.47 crore to the Oriental Bank of Commerce. The ED probe was aimed at finding out if the funds obtained through the alleged fraud were laundered and if the proceeds of the crime were subsequently used by the accused to create illegal assets and black money.

ED attaches Rs 177 crore assets of Rotomac global

The Enforcement Directorate on Saturday&nbspsummoned Nirav Modi's family for questioning in the PNB scam worth over $2 billion.&nbsp

The ED called the family for questioning after Nirav Modi's repeated failures in appearing before the&nbspcourt despite several summonses.&nbsp

The Enforcement Directorate has sent summons to his father Deepak Modi, brother Nishal Modi, sister Purvi Modi her husband Mayank Mehta and Mihir Bhansali, the&nbspDirector of US-based firm Firestar Diamond Inc.&nbsp

According to a media report, the summonses have been sent through emails as the family members of fugitive diamantaire Nirav Modi are not in India.

The ED had earlier sent a summon to the billionaire jeweller&nbspMehul Choksi, however, he did not appear before them.

The Central Bureau of Investigation had filed its first charge sheet in&nbspthe PNB Scam on May 14 in a special court in Mumbai.&nbsp

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ED summons Nirav Modi’s family for questioning after he failed to appear before it despite repeated summons. Summons sent to his father Deepak Modi, brother Nishal Modi, sister Purvi Mehta, her husband Mayank Mehta&Mihir Bhansali, director of US-based firm Firestar Diamond Inc.
— ANI (@ANI) <a href="https://twitter.com/ANI/status/997655173706272768?ref_src=twsrc%5Etfw">May 19, 2018</a></blockquote>
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&nbsp

The ED called the family for questioning after Nirav Modi's repeated failures in appearing before the court despite several summonses

The Enforcement Directorate on Saturday&nbspsummoned Nirav Modi's family for questioning in the PNB scam worth over $2 billion. The ED called the family for questioning after Nirav Modi's repeated failures in appearing before the&nbspcourt despite several summonses. The Enforcement Directorate has sent summons to his father Deepak Modi, brother Nishal Modi, sister Purvi Modi her husband Mayank Mehta and Mihir Bhansali, the&nbspDirector of US-based firm Firestar Diamond Inc. According to a media report, the summonses have been sent through emails as the family members of fugitive diamantaire Nirav Modi are not in India. The ED had earlier sent a summon to the billionaire jeweller&nbspMehul Choksi, however, he did not appear before them. The Central Bureau of Investigation had filed its first charge sheet in&nbspthe PNB Scam on May 14 in a special court in Mumbai. ED summons Nirav Modi’s family for questioning after he failed to appear before it despite repeated summons. Summons sent to his father Deepak Modi, brother Nishal Modi, sister Purvi Mehta, her husband Mayank Mehta&Mihir Bhansali, director of US-based firm Firestar Diamond Inc. — ANI (@ANI) May 19, 2018 ×

ED summons Nirav Modi's family for questioning in PNB Scam

The Special Investigation Team (SIT) on black money has asked probe agencies to check and curb the use of cryptocurrencies as it reviewed their operation and circulation in the country and links to shady offshore transactions.

Officials said the SIT recently held a meeting in the national capital during which it was briefed about the overall scenario of the operations of this virtual currency in the country.

The SIT, official sources said, called cryptocurrencies like bitcoins "illegal" and asked probe agencies such as the Income Tax Department, the Enforcement Directorate (ED) and the Narcotics Control Bureau (NCB) to detect and stop their usage and check transactions being done over the Internet, including those with cross-border ramifications.

The panel, they said, would also prepare a report that would be submitted to the government in some time.

"The government is the final authority to frame rules and law to regulate these virtual currencies and the SIT would provide its report to it on the subject," a senior official said.

During the meeting, the NCB informed the SIT that about four cryptocurrency-fuelled drugs smuggling transactions have been unearthed in the country in the last over two years time while the tax department informed the panel about the searches it conducted on bitcoin exchanges across the country last year.

A report prepared by the banking regulator --the Reserve Bank of India (RBI) -- was also taken up during the meeting, they said.

Finance Minister Arun Jaitley, in his speech on February 1, had said that cryptocurrencies were not legal and affirmed to eliminate their usage.

The RBI, in the past, has come out with three specific warnings to discourage the public from investing in the virtual currencies.

A government-appointed panel constituted to study the subject and suggest measures to tackle it had submitted its report to the Union Finance Ministry early this year.

The Supreme Court-appointed SIT on black money was notified by the government in 2014 and is headed by Justice (retd) M B Shah and has multiple central probe, enforcement and regulatory agencies as its member.

The SIT called cryptocurrencies 'illegal' & asked probe agencies such as the I-T department, the ED, and the NCB to detect and stop their usage.

The Special Investigation Team (SIT) on black money has asked probe agencies to check and curb the use of cryptocurrencies as it reviewed their operation and circulation in the country and links to shady offshore transactions. Officials said the SIT recently held a meeting in the national capital during which it was briefed about the overall scenario of the operations of this virtual currency in the country. The SIT, official sources said, called cryptocurrencies like bitcoins "illegal" and asked probe agencies such as the Income Tax Department, the Enforcement Directorate (ED) and the Narcotics Control Bureau (NCB) to detect and stop their usage and check transactions being done over the Internet, including those with cross-border ramifications. The panel, they said, would also prepare a report that would be submitted to the government in some time. "The government is the final authority to frame rules and law to regulate these virtual currencies and the SIT would provide its report to it on the subject," a senior official said. During the meeting, the NCB informed the SIT that about four cryptocurrency-fuelled drugs smuggling transactions have been unearthed in the country in the last over two years time while the tax department informed the panel about the searches it conducted on bitcoin exchanges across the country last year. A report prepared by the banking regulator --the Reserve Bank of India (RBI) -- was also taken up during the meeting, they said. Finance Minister Arun Jaitley, in his speech on February 1, had said that cryptocurrencies were not legal and affirmed to eliminate their usage. The RBI, in the past, has come out with three specific warnings to discourage the public from investing in the virtual currencies. A government-appointed panel constituted to study the subject and suggest measures to tackle it had submitted its report to the Union Finance Ministry early this year. The Supreme Court-appointed SIT on black money was notified by the government in 2014 and is headed by Justice (retd) M B Shah and has multiple central probe, enforcement and regulatory agencies as its member.

After RBI's no to cryptocurrency, the SIT on black money orders clamp down on them

The Supreme Court on Monday suspended further hearing on an alleged money laundering case filed against Karti Chidambaram till April 27, reports said.&nbsp

With this ruling, the interim protection previously granted to Karti, who cannot be arrested by the Enforcement Directorate (ED) till the next date of hearing, is extended.

The ED is looking to remand the political heavyweight into its custody and for further investigation over his alleged involvement in the INX Media PMLA case and the Aircel-Maxis case.

Karti sought to strike down ED's power of arrest under section 19 of the PMLA, besides seeking quashing of the enforcement case information report (ECIR) and the probe being carried out by the agency.

Earlier, the apex court extended the interim protection of Karti from March 26 to April 2.

On February 28, Karti was arrested at the Chennai airport on his return from the UK for his alleged role in facilitating Foreign Investment Promotion Board (FIPB) clearance for INX Media Ltd and its directors, Peter and Indrani Mukerjea.

Karti allegedly took service charges for getting the clearance to INX Media for receiving funds from abroad worth Rs 3.05 billion in 2007 when his father P Chidambaram was the Union finance minister in the Congress-led United Progressive Alliance (UPA) government.

The ED is looking to remand the political heavyweight into its custody and for further investigation over his alleged involvement in the INX Media PMLA case and the Aircel-Maxis case

The Supreme Court on Monday suspended further hearing on an alleged money laundering case filed against Karti Chidambaram till April 27, reports said. With this ruling, the interim protection previously granted to Karti, who cannot be arrested by the Enforcement Directorate (ED) till the next date of hearing, is extended. The ED is looking to remand the political heavyweight into its custody and for further investigation over his alleged involvement in the INX Media PMLA case and the Aircel-Maxis case. Karti sought to strike down ED's power of arrest under section 19 of the PMLA, besides seeking quashing of the enforcement case information report (ECIR) and the probe being carried out by the agency. Earlier, the apex court extended the interim protection of Karti from March 26 to April 2. On February 28, Karti was arrested at the Chennai airport on his return from the UK for his alleged role in facilitating Foreign Investment Promotion Board (FIPB) clearance for INX Media Ltd and its directors, Peter and Indrani Mukerjea. Karti allegedly took service charges for getting the clearance to INX Media for receiving funds from abroad worth Rs 3.05 billion in 2007 when his father P Chidambaram was the Union finance minister in the Congress-led United Progressive Alliance (UPA) government.

INX Media case: Supreme Court suspends hearing to April 27

A day after the <a href="http://www.wionews.com/india-news/karti-chidambaram-granted-bail-in-inx-media-case-36833" target="_blank">Delhi High Court granted bail to Karti Chidambaram in the INX Media Case</a>, Enforcement Directorate (ED) has opposed his anticipatory bail plea in Aircel Maxis case.&nbsp;

The ED opposed his anticipatory bail plea in Patiala House Court saying that the bail granted will hinder the probe against him.

Accusing Chidambaram of &quot;forum shopping&quot;, the ED said, &quot;Karti has approached multiple courts through multiple applications&quot;.

The ED opposed the anticipatory bail plea of Karti Chidambaram in Patiala House Court saying that the bail granted will hinder the probe against him.

Also read :&nbsp;&nbsp;<a href="http://www.wionews.com/india-news/inx-media-aircel-maxis-long-legal-battle-awaits-chidambarams-34441" target="_blank">INX Media &amp; Aircel-Maxis: Long legal battle awaits </a><a href="http://www.wionews.com/india-news/inx-media-aircel-maxis-long-legal-battle-awaits-chidambarams-34441" target="_blank">Chidambaram</a>

The ED also asked the court for a three weeks time to file a detailed reply.&nbsp;

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The allegation is that then Finance Minister P Chidambaram granted the approval without going to the CCEA. The question is whether the FM&rsquo;s approval was valid or not. What has that got to do with <a href="https://twitter.com/hashtag/KartiChidambaram?src=hash&amp;ref_src=twsrc%5Etfw">#KartiChidambaram</a>?: Kapil Sibal (Counsel of Karti Chidambaram) <a href="https://twitter.com/hashtag/AircelMaxisCase?src=hash&amp;ref_src=twsrc%5Etfw">#AircelMaxisCase</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/977416832801009665?ref_src=twsrc%5Etfw">March 24, 2018</a></blockquote>
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Accusing Chidambaram of 'forum shopping' the ED said, 'Karti has approached multiple courts through multiple applications'

A day after the Delhi High Court granted bail to Karti Chidambaram in the INX Media Case, Enforcement Directorate (ED) has opposed his anticipatory bail plea in Aircel Maxis case. The ED opposed his anticipatory bail plea in Patiala House Court saying that the bail granted will hinder the probe against him. Accusing Chidambaram of "forum shopping", the ED said, "Karti has approached multiple courts through multiple applications". The ED opposed the anticipatory bail plea of Karti Chidambaram in Patiala House Court saying that the bail granted will hinder the probe against him. Also read : INX Media & Aircel-Maxis: Long legal battle awaits Chidambaram The ED also asked the court for a three weeks time to file a detailed reply. The allegation is that then Finance Minister P Chidambaram granted the approval without going to the CCEA. The question is whether the FM’s approval was valid or not. What has that got to do with #KartiChidambaram?: Kapil Sibal (Counsel of Karti Chidambaram) #AircelMaxisCase — ANI (@ANI) March 24, 2018 ×

ED opposes bail granted to Karti Chidambaram, says it will hinder probe

Nirav Modi, facing a probe in the Rs 11,000 crore Punjab National Bank (PNB) fraud case, is &quot;indirectly&quot; challenging the money laundering case lodged in connection with the scam, the Enforcement Directorate (ED) told the Delhi High Court today.

The submission that Nirav Modi was &quot;indirectly&quot; challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta.

Additional Solicitor General Sandeep Sethi, representing the ED, said Modi, who has been absconding, was trying to abuse the process of law by moving the plea through his company. Firestar Diamond International Private Ltd, which is named as one of the accused in the money laundering case, has sought an interim stay of the ED proceedings in the matter.

The ED, in its affidavit filed through central government standing counsel Amit Mahajan, has contended that the application for interim orders was &quot;not maintainable&quot; as it was &quot;premature&quot; and &quot;misconceived&quot;.

It has also said that &quot;grave miscarriage of justice&quot; will be caused to its probe, which is at a nascent stage if the company&#39;s plea for stay of further proceedings is granted. &quot;The entire purpose of the application is apparently to hinder the investigation,&quot; the ED said.

&quot;Nirav Modi is the director of the petitioner company since incorporation and is signatory to the memorandum and articles of the petitioner. He has not joined investigation pursuant to summons issued by the ED or even by the CBI.

His communication has expressed that he does not intend to join investigation.

&quot;He is a fugitive and absconder. Such a person who is evading the law and has declined to submit to the jurisdiction of the agencies is disentitled to invoke the extraordinary jurisdiction under Article 226 of the Constitution. On this ground alone, the petition deserves to be dismissed,&quot; the ED affidavit said.

The company&#39;s plea was misconceived and premature, the ED said, adding it was presented at the stage of search and seizure as well as retention of records and was not taking possession of attached or frozen properties as apprehended by Firestar.

The ED in its affidavit has also claimed that based on information received and its preliminary investigation, it has reasons to believe that the Firestar group, under the control and chairmanship of Modi, &quot;had committed acts which constitute the offence of money laundering and/ or was in possession of such proceeds of crime&quot;.

Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR.

Over Rs 11,384 crore worth of Letters of Understanding and Letters of Credit were issued by the bank in favour of jewellers Modi and Choksi through SWIFT messages with only smaller sums being entered in the core banking solutions system, the agencies allege.

The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

&quot;Quash the ED action of taking away the movable property and depositing the same with the PNB bank,&quot; the company has said in its plea and added that the agency be directed to supply copy of the Enforcement Case Information

Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises.

It has also sought framing of guidelines for conducting search and seizure by the ED, including on the aspect of whether the victim can be permitted to be a part of the process in order to ensure fair and transparent functioning of the agency.

The submission that Nirav Modi was indirectly challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta

Nirav Modi, facing a probe in the Rs 11,000 crore Punjab National Bank (PNB) fraud case, is "indirectly" challenging the money laundering case lodged in connection with the scam, the Enforcement Directorate (ED) told the Delhi High Court today. The submission that Nirav Modi was "indirectly" challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta. Additional Solicitor General Sandeep Sethi, representing the ED, said Modi, who has been absconding, was trying to abuse the process of law by moving the plea through his company. Firestar Diamond International Private Ltd, which is named as one of the accused in the money laundering case, has sought an interim stay of the ED proceedings in the matter. The ED, in its affidavit filed through central government standing counsel Amit Mahajan, has contended that the application for interim orders was "not maintainable" as it was "premature" and "misconceived". It has also said that "grave miscarriage of justice" will be caused to its probe, which is at a nascent stage if the company's plea for stay of further proceedings is granted. "The entire purpose of the application is apparently to hinder the investigation," the ED said. "Nirav Modi is the director of the petitioner company since incorporation and is signatory to the memorandum and articles of the petitioner. He has not joined investigation pursuant to summons issued by the ED or even by the CBI. His communication has expressed that he does not intend to join investigation. "He is a fugitive and absconder. Such a person who is evading the law and has declined to submit to the jurisdiction of the agencies is disentitled to invoke the extraordinary jurisdiction under Article 226 of the Constitution. On this ground alone, the petition deserves to be dismissed," the ED affidavit said. The company's plea was misconceived and premature, the ED said, adding it was presented at the stage of search and seizure as well as retention of records and was not taking possession of attached or frozen properties as apprehended by Firestar. The ED in its affidavit has also claimed that based on information received and its preliminary investigation, it has reasons to believe that the Firestar group, under the control and chairmanship of Modi, "had committed acts which constitute the offence of money laundering and/ or was in possession of such proceeds of crime". Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR. Over Rs 11,384 crore worth of Letters of Understanding and Letters of Credit were issued by the bank in favour of jewellers Modi and Choksi through SWIFT messages with only smaller sums being entered in the core banking solutions system, the agencies allege. The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company. "Quash the ED action of taking away the movable property and depositing the same with the PNB bank," the company has said in its plea and added that the agency be directed to supply copy of the Enforcement Case Information Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises. It has also sought framing of guidelines for conducting search and seizure by the ED, including on the aspect of whether the victim can be permitted to be a part of the process in order to ensure fair and transparent functioning of the agency.

Nirav Modi 'indirectly' challenges PMLA case through Firestar Diamonds

The Supreme Court will hear the ED&#39;s plea challenging the Delhi High Court order granting interim protection to Karti Chidambaram, son of Congress leader P Chidambaram, in a money laundering case related to the INX Media corruption matter on March 15.

A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud today considered the Enforcement Directorate&#39;s submission for urgent hearing of its appeal and said it would be heard day after tomorrow.

Advocate Rajat Nair, appearing for the probe agency, mentioned the ED&#39;s appeal for urgent hearing.

On March 9, the Delhi High Court gave Karti Chidambaram a breather in a money laundering case and restrained the ED from arresting him till March 20.

A CBI court yesterday sent Karti Chidambaram to judicial custody till March 24. The court also refused his plea for urgent hearing on his bail plea which was already listed for March 15.

Following the high court order, he cannot be arrested by the ED if the CBI court grants him bail on March 15.

Karti Chidambaram has approached the high court to strike down the powers of arrest of the ED under Section 19 of the Prevention of Money Laundering Act (PMLA) as unconstitutional and in violation of Article 14 and 21 of the Constitution, which deal with the rights of people for equality before law and protection of personal liberty.

The plea sought quashing of the enforcement case information report (ECIR) and probe by the ED for the offences under the PMLA.

It sought quashing of the probe by the ED, alleging that it was contrary to the procedure established by law and violates Karti Chidambaram&#39;s fundamental rights.

The ED had registered a case against Karti Chidambaram and others in May last year. It had registered an ECIR, the ED&#39;s equivalent of an FIR, against the accused named in the CBI complaint. These accused included Karti Chidambaram, INX Media and its directors, Peter and Indrani Mukerjea.

Advocate appearing for the probe agency mentioned the ED's appeal for urgent hearing

The Supreme Court will hear the ED's plea challenging the Delhi High Court order granting interim protection to Karti Chidambaram, son of Congress leader P Chidambaram, in a money laundering case related to the INX Media corruption matter on March 15. A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud today considered the Enforcement Directorate's submission for urgent hearing of its appeal and said it would be heard day after tomorrow. Advocate Rajat Nair, appearing for the probe agency, mentioned the ED's appeal for urgent hearing. On March 9, the Delhi High Court gave Karti Chidambaram a breather in a money laundering case and restrained the ED from arresting him till March 20. A CBI court yesterday sent Karti Chidambaram to judicial custody till March 24. The court also refused his plea for urgent hearing on his bail plea which was already listed for March 15. Following the high court order, he cannot be arrested by the ED if the CBI court grants him bail on March 15. Karti Chidambaram has approached the high court to strike down the powers of arrest of the ED under Section 19 of the Prevention of Money Laundering Act (PMLA) as unconstitutional and in violation of Article 14 and 21 of the Constitution, which deal with the rights of people for equality before law and protection of personal liberty. The plea sought quashing of the enforcement case information report (ECIR) and probe by the ED for the offences under the PMLA. It sought quashing of the probe by the ED, alleging that it was contrary to the procedure established by law and violates Karti Chidambaram's fundamental rights. The ED had registered a case against Karti Chidambaram and others in May last year. It had registered an ECIR, the ED's equivalent of an FIR, against the accused named in the CBI complaint. These accused included Karti Chidambaram, INX Media and its directors, Peter and Indrani Mukerjea.

ED moves SC against HC order giving relief to Karti Chidambaram from arrest

The Delhi High Court today sought response of the Enforcement Directorate on a plea by Nirav Modi&#39;s firm Firestar Diamond against a money laundering case lodged by the agency in connection with the over Rs 11,000 crore Punjab National Bank (PNB) fraud case.

A bench of Justices S Muralidhar and I S Mehta issued notice to the ED on Firestar Diamond International Private Ltd&#39;s plea seeking direction to the agency to supply it several documents, including a copy of the search warrants.

The bench, however, refrained itself from staying the proceedings against the company saying we want to consider the &quot;stay part&quot; after the agency files their response.

It directed ED to place before it the sequence in which it has initiated proceedings in the matter.

&quot;The relevant records involved in the matter should be placed before the court on the next date of the hearing, March 19. The officer conversant with the present case should also remain present in the court to answer all queries,&quot; the bench said.

Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank.

He also submitted before the court that the agency be directed to supply copy of the Enforcement Case Information Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises.

Additional Solicitor General Sandeep Sethi and advocate Amit Mahajan, appearing for ED submitted that the firm&#39;s plea is premature and the challenge is misconceived.

Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR.

The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank.

The Delhi High Court today sought response of the Enforcement Directorate on a plea by Nirav Modi's firm Firestar Diamond against a money laundering case lodged by the agency in connection with the over Rs 11,000 crore Punjab National Bank (PNB) fraud case. A bench of Justices S Muralidhar and I S Mehta issued notice to the ED on Firestar Diamond International Private Ltd's plea seeking direction to the agency to supply it several documents, including a copy of the search warrants. The bench, however, refrained itself from staying the proceedings against the company saying we want to consider the "stay part" after the agency files their response. It directed ED to place before it the sequence in which it has initiated proceedings in the matter. "The relevant records involved in the matter should be placed before the court on the next date of the hearing, March 19. The officer conversant with the present case should also remain present in the court to answer all queries," the bench said. Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank. He also submitted before the court that the agency be directed to supply copy of the Enforcement Case Information Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises. Additional Solicitor General Sandeep Sethi and advocate Amit Mahajan, appearing for ED submitted that the firm's plea is premature and the challenge is misconceived. Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR. The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

Court seeks ED reply over plea filed by Nirav Modi's firm Firestar Diamond

ICICI Bank chief Chanda Kochhar and Axis Bank chief Shikha Sharma have been summoned by the&nbsp;Serious Fraud Investigation Office (SFIO) in connection with the over Rs 13,000-crore PNB scam.&nbsp;

ICICI Bank had led a consortium of 31 banks which had lent Mehul Choksi&#39;s Gitanjali Gems Rs 1,000 crore. Choksi is <a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970" target="_blank">Nirav Modi&#39;s</a> uncle and partner.&nbsp;

Also read: <a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">Rahul Gandhi questions PM Modi&#39;s silence, says &#39;</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">ek</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank"> Nirav Modi Hai, </a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">dusra</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank"> Modi </a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">nirav</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank"> hai&#39;</a>

PTI reported that the SFIO has asked the heads of all 31 banks to come in for questioning. Kochhar, Sharma and the other bank chiefs are expected to be questioned at the SFIO&#39;s headquarters in Mumbai.&nbsp;

Kochar and Sharma will be questioned about the loans their banks made to Modi and Choksi but, news reports said, they are not being seen as suspects in the scam. &nbsp;

The PNB scam is being investigated by a slew of agencies including the CBI, the Enforcement Directorate and the SFIO.&nbsp;

The scam was first reported from a Mumbai branch of the Punjab National Bank.&nbsp;

It is alleged that PNB officials colluded with Modi and others to issue them Letters of Understanding (LoUs), basically bank guarantees. It was on those LoUs that Modi and Choksi got their bank loans.&nbsp;

ICICI Bank had led a consortium of 31 banks that had lent Rs 1,000 crore to Mehul Choksi's Gitanjali Gems

ICICI Bank chief Chanda Kochhar and Axis Bank chief Shikha Sharma have been summoned by the Serious Fraud Investigation Office (SFIO) in connection with the over Rs 13,000-crore PNB scam. ICICI Bank had led a consortium of 31 banks which had lent Mehul Choksi's Gitanjali Gems Rs 1,000 crore. Choksi is Nirav Modi's uncle and partner. Also read: Rahul Gandhi questions PM Modi's silence, says 'ek Nirav Modi Hai, dusra Modi nirav hai' PTI reported that the SFIO has asked the heads of all 31 banks to come in for questioning. Kochhar, Sharma and the other bank chiefs are expected to be questioned at the SFIO's headquarters in Mumbai. Kochar and Sharma will be questioned about the loans their banks made to Modi and Choksi but, news reports said, they are not being seen as suspects in the scam. The PNB scam is being investigated by a slew of agencies including the CBI, the Enforcement Directorate and the SFIO. The scam was first reported from a Mumbai branch of the Punjab National Bank. It is alleged that PNB officials colluded with Modi and others to issue them Letters of Understanding (LoUs), basically bank guarantees. It was on those LoUs that Modi and Choksi got their bank loans.

PNB scam: ICICI's Chanda Kochhar, Axis Bank's Shikha Sharma summoned by Serious Fraud Investigation Office

Karti Chidambaram has moved the Supreme Court seeking to quash the summons issued by the Enforcement Directorate. Karti, son of senior Congress leader and former Finance Minister P Chidambaram, mentioned in his writ that he has been in compliance with the investigating proceedings.&nbsp;

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<a href="https://twitter.com/hashtag/KartiChidambaram?src=hash&amp;ref_src=twsrc%5Etfw">#KartiChidambaram</a> moves Supreme Court in the <a href="https://twitter.com/hashtag/INXMediaCase?src=hash&amp;ref_src=twsrc%5Etfw">#INXMediaCase</a> seeking quashing of summons issued by the Enforcement Directorate. (File Pic) <a href="https://t.co/fIOgVx2itZ">pic.twitter.com/fIOgVx2itZ</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970532974331482112?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
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Chidambaram also noted that the ED and the CBI are looking into matters unrelated to investment in INX Media and are trying to involve him into matters that are not mentioned in the FIR lodged by the CBI.

Karti Chidambaram faces charges in connection with alleged irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media. The company received an investment worth about Rs 305 crore approved by the FIPB in 2007 when Karti&#39;s father P Chidambaram was the finance minister.

Chidambaram noted that the ED and the CBI are looking into matters unrelated to investment in INX Media

Karti Chidambaram has moved the Supreme Court seeking to quash the summons issued by the Enforcement Directorate. Karti, son of senior Congress leader and former Finance Minister P Chidambaram, mentioned in his writ that he has been in compliance with the investigating proceedings. #KartiChidambaram moves Supreme Court in the #INXMediaCase seeking quashing of summons issued by the Enforcement Directorate. (File Pic) pic.twitter.com/fIOgVx2itZ — ANI (@ANI) March 5, 2018 × Chidambaram also noted that the ED and the CBI are looking into matters unrelated to investment in INX Media and are trying to involve him into matters that are not mentioned in the FIR lodged by the CBI. Karti Chidambaram faces charges in connection with alleged irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media. The company received an investment worth about Rs 305 crore approved by the FIPB in 2007 when Karti's father P Chidambaram was the finance minister.

INX Media case: Karti Chidambaram moves Supreme Court to challenge CBI probe

Karti Chidambaram&#39;s chartered accountant S Bhaskararaman, <a href="http://www.wionews.com/india-news/karti-chidambarams-ca-remanded-to-five-day-ed-custody-33096">who was arrested</a> in the INX Media money laundering case, has been sent to 14 days of judicial custody by a court in Delhi.

Bhaskararaman was produced before court from the custody of the Enforcement Directorate (ED). Special public prosecutor Nitesh Rana had sought three more days of custodial interrogation.

Special judge NK Malhotra sent the chartered accountant (CA) to Tihar Jail.&nbsp;

Bhaskararaman was arrested from a five-star hotel in the heart of the national capital on February 16.

The case involves the Foreign Investment Promotion Board (FIPB) approval granted in 2007 for receipt of funds by INX Media when Karti&#39;s father and senior Congress leader P Chidambaram was the finance minister during the UPA government&#39;s regime.

The ED had alleged that INX Media had deliberately and in violation of the conditions of the approval made a downstream investment of 26 per cent in the capital of INX News Pvt Ltd without specific approval of FIPB, which included indirect foreign investment by some foreign investors, and generated Rs 305 crore foreign direct investment in INX Media Pvt Ltd against the approved foreign inflow of Rs 4.62 crore.

The investigating agency alleged that to wriggle out of the situation without any punitive action, INX Media entered into a criminal conspiracy with Karti.

The ED further alleged that the FIPB unit of the finance ministry had not only granted illegal approval but also misinformed the investigation wing of Income Tax Department.&nbsp;

The ED alleges that Bhaskararaman, a qualified CA, had been assisting Karti in managing his &quot;ill-gotten wealth&quot; in India and abroad.

The ED had said the investigation required the presence of Bhaskararaman for collecting vital evidence and other information which was within his special knowledge and exclusive domain.

 
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Bhaskararaman was produced before court from the custody of the Enforcement Directorate (ED)

Karti Chidambaram's chartered accountant S Bhaskararaman, who was arrested in the INX Media money laundering case, has been sent to 14 days of judicial custody by a court in Delhi. Bhaskararaman was produced before court from the custody of the Enforcement Directorate (ED). Special public prosecutor Nitesh Rana had sought three more days of custodial interrogation. Special judge NK Malhotra sent the chartered accountant (CA) to Tihar Jail. Bhaskararaman was arrested from a five-star hotel in the heart of the national capital on February 16. The case involves the Foreign Investment Promotion Board (FIPB) approval granted in 2007 for receipt of funds by INX Media when Karti's father and senior Congress leader P Chidambaram was the finance minister during the UPA government's regime. The ED had alleged that INX Media had deliberately and in violation of the conditions of the approval made a downstream investment of 26 per cent in the capital of INX News Pvt Ltd without specific approval of FIPB, which included indirect foreign investment by some foreign investors, and generated Rs 305 crore foreign direct investment in INX Media Pvt Ltd against the approved foreign inflow of Rs 4.62 crore. The investigating agency alleged that to wriggle out of the situation without any punitive action, INX Media entered into a criminal conspiracy with Karti. The ED further alleged that the FIPB unit of the finance ministry had not only granted illegal approval but also misinformed the investigation wing of Income Tax Department. The ED alleges that Bhaskararaman, a qualified CA, had been assisting Karti in managing his "ill-gotten wealth" in India and abroad. The ED had said the investigation required the presence of Bhaskararaman for collecting vital evidence and other information which was within his special knowledge and exclusive domain.

Karti Chidambaram's chartered accountant remanded to 14-day judicial custody

The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in connection with the 1.77 billion dollar (Rs 11,400 crores) Punjab National Bank (PNB) fraud.

As per an official release, the properties, attached as per the provisions of the Prevention of Money Laundering Act, 2002, possess a total market value of Rs 523.72 crore.

The said properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune.

The PNB detected a 1.77 billion dollar (Rs 11,400) scam earlier this month, in which noted jewellery designer Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.

Also read: <a href="http://www.wionews.com/india-news/letter-written-to-gain-clarity-on-the-situation-mehul-choksis-lawyer-33922">MEA revokes Mehul Choksi, Nirav Modi&#39;s passports</a>

Choksi, Modi&#39;s uncle, is also being probed for his involvement in the fraud.

PNB thereafter lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Nirav Modi, his family members and the owner of Gitanjali Gems.

After the case was registered, the ED and the Central Bureau of Investigation (CBI) have swung into action.

On Thursday, the Income Tax (IT) Department attached the special economic zone (SEZ) property of Mehul Choksi&#39;s Gitanjali Group in Hyderabad, sources at the department said.

As per the assessee&#39;s own valuation, the property is worth about Rs 1200 crore.Meanwhile, the ED on Friday froze assets of Nirav Modi worth Rs. 43.86 crore.&nbsp;

 
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The properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune

The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in connection with the 1.77 billion dollar (Rs 11,400 crores) Punjab National Bank (PNB) fraud. As per an official release, the properties, attached as per the provisions of the Prevention of Money Laundering Act, 2002, possess a total market value of Rs 523.72 crore. The said properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune. The PNB detected a 1.77 billion dollar (Rs 11,400) scam earlier this month, in which noted jewellery designer Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders. Also read: MEA revokes Mehul Choksi, Nirav Modi's passports Choksi, Modi's uncle, is also being probed for his involvement in the fraud. PNB thereafter lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Nirav Modi, his family members and the owner of Gitanjali Gems. After the case was registered, the ED and the Central Bureau of Investigation (CBI) have swung into action. On Thursday, the Income Tax (IT) Department attached the special economic zone (SEZ) property of Mehul Choksi's Gitanjali Group in Hyderabad, sources at the department said. As per the assessee's own valuation, the property is worth about Rs 1200 crore.Meanwhile, the ED on Friday froze assets of Nirav Modi worth Rs. 43.86 crore.

PNB scam: ED attaches Nirav Modi's property of over Rs 500 crores

The CBI search in the ongoing PNB fraud continues today. The search is being conducted in the Punjab National Bank&#39;s Mid Corporate Branch, Brady House in Mumbai.

According to reports, the branch was briefly secured with a seal during the wee hours to prevent any inadvertent or unauthorised opening by any PNB staff.&nbsp;

The temporary sealing of the branch premises was to prevent any instance of tampering. The authorities here state that the regular business of the branch will not be affected today.

The official notice of the CBI read, &#39;The branch cannot be opened and entered into without permission/order of the court concerned or Competent Authority of the Central Bureau of Investigation Mumbai.&#39;&#39;

MCB Brady house is the same branch where transactions related to PNB scam were carried out.

Meanwhile, the CBI also carried out searches at three places in Kanpur, questioning the three accused Directors - Vikram Kothari, Sadhana Kothari &amp; Rahul Kothari. Residential premises and offices of Rotomac Directors have also been sealed by the CBI in New Delhi.

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CBI is conducting searches at three places in Kanpur and questioning all the three accused Directors - Vikram Kothari, Sadhana Kothari &amp; Rahul Kothari. CBI has also sealed a residential premises and an office of Rotomac Directors in New Delhi. <a href="https://twitter.com/hashtag/PNBFraudCase?src=hash&amp;ref_src=twsrc%5Etfw">#PNBFraudCase</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/965527992255569920?ref_src=twsrc%5Etfw">February 19, 2018</a></blockquote>
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The Enforcement Directorate visited the residence of former Allahabad Bank director Dinesh Dubey. Dubey had alleged that the bank had granted a loan to Gitanjali Gems in 2013 despite his dissent.&nbsp;

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<a href="https://twitter.com/hashtag/Vadodara?src=hash&amp;ref_src=twsrc%5Etfw">#Vadodara</a>: ED team reaches residence of former Allahabad Bank director Dinesh Dubey who had alleged that loan was given to Gitanjali Gems in 2013 despite his dissent note <a href="https://twitter.com/hashtag/PNBFraud?src=hash&amp;ref_src=twsrc%5Etfw">#PNBFraud</a> <a href="https://t.co/vHmR4IGleh">pic.twitter.com/vHmR4IGleh</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/965522785463390208?ref_src=twsrc%5Etfw">February 19, 2018</a></blockquote>
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The Nirav Modi-PNB fraud made headlines on January 29 after a PNB official from Mumbai lodged a complaint with the CBI complaining against Solar Exports, Stellar Diamonds and Diamond R US.

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Bihar: Enforcement Directorate conducts raid at a <a href="https://twitter.com/hashtag/Gitanjali?src=hash&amp;ref_src=twsrc%5Etfw">#Gitanjali</a> and a <a href="https://twitter.com/hashtag/Nakshatra?src=hash&amp;ref_src=twsrc%5Etfw">#Nakshatra</a> showroom in Muzaffarpur. <a href="https://twitter.com/hashtag/PNBFraudCase?src=hash&amp;ref_src=twsrc%5Etfw">#PNBFraudCase</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/965539931417468928?ref_src=twsrc%5Etfw">February 19, 2018</a></blockquote>
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Four others including diamantaire Nirav Modi and Gitanjali Gems&#39; MD Mehul Choksi were named and accused of defrauding the bank.&nbsp;

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<a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a> Case: ED raids being conducted in Lucknow, Noida &amp; Ghaziabad.
&mdash; ANI UP (@ANINewsUP) <a href="https://twitter.com/ANINewsUP/status/965539092527271936?ref_src=twsrc%5Etfw">February 19, 2018</a></blockquote>
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The bank later alleged two junior employees at the Mumbai branch to have assisted the named companies and fraudsters in acquiring &#39;letters of undertaking&#39;&nbsp;(LoUs) even in the absence sufficient funds or required credit limit.&nbsp;

Residential premises and offices of Rotomac Directors have also been sealed by the CBI in New Delhi

The CBI search in the ongoing PNB fraud continues today. The search is being conducted in the Punjab National Bank's Mid Corporate Branch, Brady House in Mumbai. According to reports, the branch was briefly secured with a seal during the wee hours to prevent any inadvertent or unauthorised opening by any PNB staff. The temporary sealing of the branch premises was to prevent any instance of tampering. The authorities here state that the regular business of the branch will not be affected today. The official notice of the CBI read, 'The branch cannot be opened and entered into without permission/order of the court concerned or Competent Authority of the Central Bureau of Investigation Mumbai.'' MCB Brady house is the same branch where transactions related to PNB scam were carried out. Meanwhile, the CBI also carried out searches at three places in Kanpur, questioning the three accused Directors - Vikram Kothari, Sadhana Kothari & Rahul Kothari. Residential premises and offices of Rotomac Directors have also been sealed by the CBI in New Delhi. CBI is conducting searches at three places in Kanpur and questioning all the three accused Directors - Vikram Kothari, Sadhana Kothari & Rahul Kothari. CBI has also sealed a residential premises and an office of Rotomac Directors in New Delhi. #PNBFraudCase — ANI (@ANI) February 19, 2018 × The Enforcement Directorate visited the residence of former Allahabad Bank director Dinesh Dubey. Dubey had alleged that the bank had granted a loan to Gitanjali Gems in 2013 despite his dissent. #Vadodara: ED team reaches residence of former Allahabad Bank director Dinesh Dubey who had alleged that loan was given to Gitanjali Gems in 2013 despite his dissent note #PNBFraud pic.twitter.com/vHmR4IGleh — ANI (@ANI) February 19, 2018 × The Nirav Modi-PNB fraud made headlines on January 29 after a PNB official from Mumbai lodged a complaint with the CBI complaining against Solar Exports, Stellar Diamonds and Diamond R US. Bihar: Enforcement Directorate conducts raid at a #Gitanjali and a #Nakshatra showroom in Muzaffarpur. #PNBFraudCase — ANI (@ANI) February 19, 2018 × Four others including diamantaire Nirav Modi and Gitanjali Gems' MD Mehul Choksi were named and accused of defrauding the bank. #NiravModi Case: ED raids being conducted in Lucknow, Noida & Ghaziabad. — ANI UP (@ANINewsUP) February 19, 2018 × The bank later alleged two junior employees at the Mumbai branch to have assisted the named companies and fraudsters in acquiring 'letters of undertaking' (LoUs) even in the absence sufficient funds or required credit limit.

PNB scam: Investigations at Mumbai branch continue, ED probes former Allahabad Bank director

The external affairs ministry on Friday suspended with immediate effect the passports of diamantaire Nirav Modi and his business partner Mehul Choksi for four weeks.

The ministry gave them one week to respond why their passports should not be revoked.

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Woh jis country mein hain wahi rahenge, passport suspend hone ke baad woh kahi nahi ja sakte: Raveesh Kumar,MEA <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a> <a href="https://twitter.com/hashtag/PNBFraudCase?src=hash&amp;ref_src=twsrc%5Etfw">#PNBFraudCase</a> <a href="https://t.co/0B5USe0mCN">pic.twitter.com/0B5USe0mCN</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/964468317716131840?ref_src=twsrc%5Etfw">February 16, 2018</a></blockquote>
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Also read: <a href="http://www.wionews.com/india-news/pnb-scam-this-is-how-nirav-modi-planned-his-safe-exit-from-india-33071" target="_blank">This is how Nirav Modi planned his safe exit from India</a>

Also read:&nbsp;<a href="http://www.wionews.com/india-news/after-ed-raids-on-nirav-modis-showrooms-cbi-targets-mehul-choksis-gitanjali-group-33063">After ED raids on Nirav Modi&#39;s showrooms, CBI targets Mehul Choksi&#39;s Gitanjali Group</a>

&quot;If they fail to respond within the stipulated time it will be assumed that they have no response to offer and the MEA will go ahead with the revocation,&quot; the ministry said in a statement.

Announcing the suspension, the MEA statement said,&quot;On the advice of the Enforcement Directorate, the passport issuing authority in the MEA has today suspended the validity of passports of Nirav Deepak Modi and Mehul Chinubhai Choksi with immediate effect for a period of four weeks u/s 10(A) of the Passports Act 1967.&quot;

They have been asked to respond within one week why their passports should not be impounded or revoked under Section 10 (3) (c) of the Passports Act 1967, it said.

The Central Bureau of Investigation (CBI) and the ED yesterday moved separate applications to the external affairs ministry seeking the revocation Nirav Modi&#39;s passport as well as that of his maternal uncle and his business partner Mehul Choksi, the promoter of Gitanjali jewellery chain. Both are accused in the Rs 280 crore bank fraud case.

The ministry gave them one week to respond why their passports should not be revoked

The external affairs ministry on Friday suspended with immediate effect the passports of diamantaire Nirav Modi and his business partner Mehul Choksi for four weeks. The ministry gave them one week to respond why their passports should not be revoked. Woh jis country mein hain wahi rahenge, passport suspend hone ke baad woh kahi nahi ja sakte: Raveesh Kumar,MEA #NiravModi #PNBFraudCase pic.twitter.com/0B5USe0mCN — ANI (@ANI) February 16, 2018 × Also read: This is how Nirav Modi planned his safe exit from India Also read: After ED raids on Nirav Modi's showrooms, CBI targets Mehul Choksi's Gitanjali Group "If they fail to respond within the stipulated time it will be assumed that they have no response to offer and the MEA will go ahead with the revocation," the ministry said in a statement. Announcing the suspension, the MEA statement said,"On the advice of the Enforcement Directorate, the passport issuing authority in the MEA has today suspended the validity of passports of Nirav Deepak Modi and Mehul Chinubhai Choksi with immediate effect for a period of four weeks u/s 10(A) of the Passports Act 1967." They have been asked to respond within one week why their passports should not be impounded or revoked under Section 10 (3) (c) of the Passports Act 1967, it said. The Central Bureau of Investigation (CBI) and the ED yesterday moved separate applications to the external affairs ministry seeking the revocation Nirav Modi's passport as well as that of his maternal uncle and his business partner Mehul Choksi, the promoter of Gitanjali jewellery chain. Both are accused in the Rs 280 crore bank fraud case.

Passports of Nirav Modi, Mehul Choksi suspended, MEA gives one week to respond

A lookout notice was issued by the CBI against jeweller Nirav Modi and his associates last month in the <a href="http://www.wionews.com/india-news/pnb-scam-how-punjab-national-bank-fell-victim-to-countrys-biggest-bank-fraud-33009" target="_blank">PNB banking fraud </a>case but by then they had escaped from India.

Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, departed from the country on the same day. Modi&#39;s wife Ami, a US citizen, left on January 6 and his uncle and business partner <a href="http://www.wionews.com/india-news/after-ed-raids-on-nirav-modis-showrooms-cbi-targets-mehul-choksis-gitanjali-group-33063" target="_blank">Mehul Choksi, the promoter of Gitanjali jewellery chain</a>, left on January 4.

Here is the chronology of Nirav Modi&#39;s planned exit:&nbsp;

CBI sources said that Nirav Modi had already made plans to flee the country with his family well in advance as early as a year ago.

Nirav Modi was planning to leave country around his brother Neehal&#39;s wedding in December 2016.&nbsp;However, Demonetisation was announced right before this and then he had to postpone his plan.

In last one year Nirav Modi allegedly started parking all his money through multiple layers where he made transactions at inflated prices.&nbsp;

Some transactions are suspected to have been made&nbsp;with fictitious companies and are being scrutinized by the investigating agencies.

Specially transactions between India and 5 countries including USA, UK Malaysia, Singapore and China are being closely monitored.

Agencies suspect that funds were routed to different cities worldwide.&nbsp;

Firstly, funds were transferred from India to Macau, Beijing, Hongkong, Singapore, and Kuala Lumpur.Later from these cities to London.&nbsp;

And then from London, the funds moved to Hawaii, Las Vegas and New York before moving to his Swiss accounts.

Somewhere in December 2017, somebody from PNB (other than 2 main accused) tipped him off about the meeting held by PNB top officials and a complaint to be filed with CBI.

Upon learning about this, Nirav Modi made his final plan to flee post new year celebration. Knowing that if all of them leave together could lead to suspicion, they decided to leave one by one so that if one is held others are safe.

Sources claim Nirav was scared of leaving alone that he left with his brother Neeshal who is a Belgian citizen.

Once Nirav and Neeshal Modi sneaked out of the country,&nbsp;they alerted their uncle Mehul Choksi who reportedly left after three days. Meanwhile, Nirav Modi&#39;s wife Ami Modi stayed put in Mumbai to keep a close watch on what was happening in the investigation agency, bank and media circles. After two days, Modi&#39;s American citizen wife Ami also left the country along with her child. Thus, all 4 accused escaped in a span of a week&#39;s time.

About 3 weeks later, PNB officials submitted a written complaint to Bank Security &amp; Fraud Cell (BSFC) of CBI in Bandra Kurla Complex (BKC), Mumbai.

On receiving this complaint, CBI started recording the statement of the complainant bank authority and registered an&nbsp;FIR on 31st January.

Nirav Modi&#39;s priority was to safeguard the family members. However, by the last week of January 2018, he wanted to shift all expensive jewellery to New York through shipment but by then the case was registered and his plans were thwarted by the investigation agencies.&nbsp;

In last one year Nirav Modi allegedly started parking all his money through multiple layers where he made transactions at inflated prices

A lookout notice was issued by the CBI against jeweller Nirav Modi and his associates last month in the PNB banking fraud case but by then they had escaped from India. Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, departed from the country on the same day. Modi's wife Ami, a US citizen, left on January 6 and his uncle and business partner Mehul Choksi, the promoter of Gitanjali jewellery chain, left on January 4. Here is the chronology of Nirav Modi's planned exit: CBI sources said that Nirav Modi had already made plans to flee the country with his family well in advance as early as a year ago. Nirav Modi was planning to leave country around his brother Neehal's wedding in December 2016. However, Demonetisation was announced right before this and then he had to postpone his plan. In last one year Nirav Modi allegedly started parking all his money through multiple layers where he made transactions at inflated prices. Some transactions are suspected to have been made with fictitious companies and are being scrutinized by the investigating agencies. Specially transactions between India and 5 countries including USA, UK Malaysia, Singapore and China are being closely monitored. Agencies suspect that funds were routed to different cities worldwide. Firstly, funds were transferred from India to Macau, Beijing, Hongkong, Singapore, and Kuala Lumpur.Later from these cities to London. And then from London, the funds moved to Hawaii, Las Vegas and New York before moving to his Swiss accounts. Somewhere in December 2017, somebody from PNB (other than 2 main accused) tipped him off about the meeting held by PNB top officials and a complaint to be filed with CBI. Upon learning about this, Nirav Modi made his final plan to flee post new year celebration. Knowing that if all of them leave together could lead to suspicion, they decided to leave one by one so that if one is held others are safe. Sources claim Nirav was scared of leaving alone that he left with his brother Neeshal who is a Belgian citizen. Once Nirav and Neeshal Modi sneaked out of the country, they alerted their uncle Mehul Choksi who reportedly left after three days. Meanwhile, Nirav Modi's wife Ami Modi stayed put in Mumbai to keep a close watch on what was happening in the investigation agency, bank and media circles. After two days, Modi's American citizen wife Ami also left the country along with her child. Thus, all 4 accused escaped in a span of a week's time. About 3 weeks later, PNB officials submitted a written complaint to Bank Security & Fraud Cell (BSFC) of CBI in Bandra Kurla Complex (BKC), Mumbai. On receiving this complaint, CBI started recording the statement of the complainant bank authority and registered an FIR on 31st January. Nirav Modi's priority was to safeguard the family members. However, by the last week of January 2018, he wanted to shift all expensive jewellery to New York through shipment but by then the case was registered and his plans were thwarted by the investigation agencies.

This is how Nirav Modi planned his safe exit from India

After the Enforcement Directorate(ED) <a href="http://www.wionews.com/india-news/nirav-modi-row-punjab-national-bank-suspends-8-officers-33059">conducted nationwide searches against</a> Nirav Modi&#39;s showrooms, the Central Bureau of Investigation(CBI) today conducted searches in Maharashtra, Gujarat and Tamil Nadu in connection with Mehul Choksi&#39;s Gitanjali Group.&nbsp;

The CBI raids were conducted in Pune, Surat, Jaipur, Telangana and Coimbatore.

<a href="http://www.wionews.com/india-news/pnb-scam-interpol-notice-against-nirav-modi-33049">Mehul Choksi, the promoter Gitanjali </a>jewellery chain is the relative of Nirav Modi who&nbsp;allegedly defrauded PNB of Rs 11,400 crores.

Nirav Modi and Mehul Choksi have been asked to respond within one week on revocation of their passports.&nbsp;The ministry of external affairs said if the duo fail to respond within the stipulated time, their passports will be revoked.

The CBI today&nbsp;registered a fresh FIR against Gitanjali Gems and its promoter Mehul Choksi on basis of complaint from Punjab National Bank(PNB).

The ED has&nbsp;already issued summons to Choksi and Nirav Modi to appear before the agency.

Meanwhile, shares of Gitanjali Gems plunged another 20 per cent in morning trade after the company came under scanner in the PNB scam&nbsp;case.

The stock fell for the third straight session to hit 52-week low on both BSE and NSE. On BSE, the stock fell 19.94 per cent to a low of Rs 37.55.

On NSE, the stock cracked 19.98 per cent to trade at Rs 37.45.

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A day after registering money laundering case in connection with the cheating of Punjab National Bank (PNB) by billionaire jeweller Nirav Modi, the Enforcement Directorate on Thursday conducted raids at his residence and offices in Mumbai. (WION)
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Mehul Choksi, the promoter Gitanjali jewellery chain is the relative of Nirav Modi who is allegedly defrauded PNB of Rs 11,400 crores

After the Enforcement Directorate(ED) conducted nationwide searches against Nirav Modi's showrooms, the Central Bureau of Investigation(CBI) today conducted searches in Maharashtra, Gujarat and Tamil Nadu in connection with Mehul Choksi's Gitanjali Group. The CBI raids were conducted in Pune, Surat, Jaipur, Telangana and Coimbatore. Mehul Choksi, the promoter Gitanjali jewellery chain is the relative of Nirav Modi who allegedly defrauded PNB of Rs 11,400 crores. Nirav Modi and Mehul Choksi have been asked to respond within one week on revocation of their passports. The ministry of external affairs said if the duo fail to respond within the stipulated time, their passports will be revoked. The CBI today registered a fresh FIR against Gitanjali Gems and its promoter Mehul Choksi on basis of complaint from Punjab National Bank(PNB). The ED has already issued summons to Choksi and Nirav Modi to appear before the agency. Meanwhile, shares of Gitanjali Gems plunged another 20 per cent in morning trade after the company came under scanner in the PNB scam case. The stock fell for the third straight session to hit 52-week low on both BSE and NSE. On BSE, the stock fell 19.94 per cent to a low of Rs 37.55. On NSE, the stock cracked 19.98 per cent to trade at Rs 37.45. A day after registering money laundering case in connection with the cheating of Punjab National Bank (PNB) by billionaire jeweller Nirav Modi, the Enforcement Directorate on Thursday conducted raids at his residence and offices in Mumbai. (WION) ×

After ED raids on Nirav Modi's showrooms, CBI targets Mehul Choksi's Gitanjali Group

Punjab National Bank(PNB) has <a href="http://www.wionews.com/india-news/pnb-scam-interpol-notice-against-nirav-modi-33049">suspended eight employees including </a>General Manager level officers as the Nirav Modi induced scam continues to batter the state-run bank.

PNB is <a href="http://www.wionews.com/india-news/ed-conducted-in-camera-raids-on-nirav-modis-showrooms-33027">conducting an internal investigation</a> and has now suspended 18 employees.

Meanwhile, the Enforcement Directorate(ED) has issued summons to the billionaire jeweller with the Interpol issuing a &quot;diffusion notice&quot; against him.

The notice has also been issued against Nirav Modi&#39;s wife Ami Modi, his brother Nishal Modi and business partner Mehul Choksi.

As investigations into the scam continue, state-owned Union Bank of India has said it has an exposure of $300 million which is around Rs 1,915 crore as a result of the PNB fraud.

On Thursday, PNB had said it will honour its &ldquo;bonafide commitments&rdquo; even as the ED raided a number of locations of Nirav Modi&#39;s showrooms across the country in Mumbai, Delhi, Surat, Surat &amp; Hyderabad.

The ED has also frozen bank balance worth Rs 3.9 crore in various accounts and fixed deposits.

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In what could be the biggest banking fraud in India, state-owned Punjab National Bank has said it has detected a US $1.77 billion scam and billionaire jeweller Nirav Modi is at the centre of it. (WION Web Team)
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PNB is conducting an internal investigation and has now suspended 18 employees.

Punjab National Bank(PNB) has suspended eight employees including General Manager level officers as the Nirav Modi induced scam continues to batter the state-run bank. PNB is conducting an internal investigation and has now suspended 18 employees. Meanwhile, the Enforcement Directorate(ED) has issued summons to the billionaire jeweller with the Interpol issuing a "diffusion notice" against him. The notice has also been issued against Nirav Modi's wife Ami Modi, his brother Nishal Modi and business partner Mehul Choksi. As investigations into the scam continue, state-owned Union Bank of India has said it has an exposure of $300 million which is around Rs 1,915 crore as a result of the PNB fraud. On Thursday, PNB had said it will honour its “bonafide commitments” even as the ED raided a number of locations of Nirav Modi's showrooms across the country in Mumbai, Delhi, Surat, Surat & Hyderabad. The ED has also frozen bank balance worth Rs 3.9 crore in various accounts and fixed deposits. In what could be the biggest banking fraud in India, state-owned Punjab National Bank has said it has detected a US $1.77 billion scam and billionaire jeweller Nirav Modi is at the centre of it. (WION Web Team) ×

Nirav Modi row: Punjab National Bank suspends 8 officers over scam

The Enforcement Directorate (ED) has recovered diamond and gold worth Rs 549 crore in raids that were conducted in about 35 new locations on Friday.&nbsp;

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A&nbsp;total of Rs 5649 crore have been recovered following raids by the ED since Thursday.&nbsp;

The raids were conducted spread across 11 states.&nbsp;

The ED has also directed&nbsp;<a href="http://www.wionews.com/india-news/passports-of-nirav-modi-mehul-choksi-suspended-mea-gives-one-week-to-respond-33087" target="_blank">Nirav Modi</a> that&nbsp;no sale&nbsp;or&nbsp;purchase should take place in showrooms&nbsp;in New York, London, Macau, and Beijing.&nbsp;

Also read: <a href="http://www.wionews.com/india-news/former-allahabad-bank-director-says-he-resigned-as-he-was-pressured-to-give-loan-to-gitanjali-gems-33085" target="_blank">Resigned as I was pressured to give loan to Gitanjali Gems: Former Allahabad Bank director</a>

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ED registered another case today against <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a>. 35 new locations were raided.Searches covering 11 states.Diamond and gold worth 549 crore seized today. Total 5649 crore.(Including yesterday&#39;s recovery) 29 immovable properties identified: ED Sources <a href="https://t.co/3RdwRJwZ2m">pic.twitter.com/3RdwRJwZ2m</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/964497281453056000?ref_src=twsrc%5Etfw">February 16, 2018</a></blockquote>
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The ED also registered a new case in connection with the 11300 crore PNB scam.&nbsp;

The Punjab National Bank&nbsp;announced this week that it had discovered fraudulent transactions worth Rs 11,400 crore at a single branch in Mumbai.&nbsp;

It stated that Nirav Modi had carried out &ldquo;fraudulent transactions&rdquo; worth over Rs 11,400 crore by acquiring fake bank guarantees and showing it to other banks in order to extract more money.

The ED has also directed ordered Nirav Modi that no sale or purchase should take place in showrooms in New York, London, Macau, and Beijing.

The Enforcement Directorate (ED) has recovered diamond and gold worth Rs 549 crore in raids that were conducted in about 35 new locations on Friday. × A total of Rs 5649 crore have been recovered following raids by the ED since Thursday. The raids were conducted spread across 11 states. The ED has also directed Nirav Modi that no sale or purchase should take place in showrooms in New York, London, Macau, and Beijing. Also read: Resigned as I was pressured to give loan to Gitanjali Gems: Former Allahabad Bank director ED registered another case today against #NiravModi. 35 new locations were raided.Searches covering 11 states.Diamond and gold worth 549 crore seized today. Total 5649 crore.(Including yesterday's recovery) 29 immovable properties identified: ED Sources pic.twitter.com/3RdwRJwZ2m — ANI (@ANI) February 16, 2018 × The ED also registered a new case in connection with the 11300 crore PNB scam. The Punjab National Bank announced this week that it had discovered fraudulent transactions worth Rs 11,400 crore at a single branch in Mumbai. It stated that Nirav Modi had carried out “fraudulent transactions” worth over Rs 11,400 crore by acquiring fake bank guarantees and showing it to other banks in order to extract more money.

PNB fraud: ED recovers total of Rs 5649 crore assets, raids 35 new locations

The Enforcement Directorate (ED) is conducting&nbsp;fresh searches on people linked to<a href="http://www.wionews.com/india-news/ed-conducts-raids-at-karti-chidambarams-premises-in-delhi-chennai-over-inx-media-case-29388"> Karti Chidambaram</a>,&nbsp;son of senior Congress leader P Chidambaram,&nbsp;in Chennai in INX Media PMLA case on Friday.&nbsp;

Chidambaram, on Thursday, appeared before the Enforcement Directorate (ED) for the second time in connection with the INX Media money laundering case, official sources said.

This was the second time he appeared before the ED in this case after he was first grilled by the agency on January 18.

The central probe agency had earlier summoned Karti Chidambaram on February 2 after which he informed them that he would be unable to depose as he had an interlocutory application pending in the Supreme Court in this case.

The central probe agency had registered the case against him and others in May last year. 
 
It had registered an Enforcement Case Information Report (ECIR), the ED&#39;s equivalent of a police FIR, against the accused named in a <a href="http://www.wionews.com/india-news/lookout-notice-for-karti-as-he-wanted-to-close-foreign-bank-account-cbi-to-sc-20532">CBI complaint</a>, including Karti Chidambaram, INX Media and its directors -- Peter and Indrani Mukerjea. 
 
The ECIR was lodged under the provisions of the Prevention of Money Laundering Act (PMLA).

The CBI had also carried out searches at the houses and offices of Karti Chidambaram across four cities for allegedly receiving money from the media firm owned by the Mukerjeas to scuttle a tax probe.

The Chidambaram&#39;s have denied all the charges made against them.&nbsp;

The CBI had filed the FIR against Karti Chidambaram and the Mukerjeas on charges of criminal conspiracy, cheating, receiving illegal gratification, influencing public servants and criminal misconduct. 
 
The agency has alleged that Karti Chidamabaram received money from INX Media for using his influence to manipulate a tax probe against it in a case of violation of Foreign Investment Promotion Board (FIPB) conditions to receive investment from Mauritius. 
 
The CBI has said that it also seized vouchers of&nbsp;Rs 10 lakh which were allegedly paid for the services. 
 
The vouchers were issued in favor of the Advantage Strategic Consulting (P) Limited, a firm &quot;indirectly&quot; owned by Karti. 
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(With PTI inputs)

Chidambaram, on Thursday, appeared before the Enforcement Directorate (ED) for the second time in connection with the INX Media money laundering case

The Enforcement Directorate (ED) is conducting fresh searches on people linked to Karti Chidambaram, son of senior Congress leader P Chidambaram, in Chennai in INX Media PMLA case on Friday. Chidambaram, on Thursday, appeared before the Enforcement Directorate (ED) for the second time in connection with the INX Media money laundering case, official sources said. This was the second time he appeared before the ED in this case after he was first grilled by the agency on January 18. The central probe agency had earlier summoned Karti Chidambaram on February 2 after which he informed them that he would be unable to depose as he had an interlocutory application pending in the Supreme Court in this case. The central probe agency had registered the case against him and others in May last year. It had registered an Enforcement Case Information Report (ECIR), the ED's equivalent of a police FIR, against the accused named in a CBI complaint, including Karti Chidambaram, INX Media and its directors -- Peter and Indrani Mukerjea. The ECIR was lodged under the provisions of the Prevention of Money Laundering Act (PMLA). The CBI had also carried out searches at the houses and offices of Karti Chidambaram across four cities for allegedly receiving money from the media firm owned by the Mukerjeas to scuttle a tax probe. The Chidambaram's have denied all the charges made against them. The CBI had filed the FIR against Karti Chidambaram and the Mukerjeas on charges of criminal conspiracy, cheating, receiving illegal gratification, influencing public servants and criminal misconduct. The agency has alleged that Karti Chidamabaram received money from INX Media for using his influence to manipulate a tax probe against it in a case of violation of Foreign Investment Promotion Board (FIPB) conditions to receive investment from Mauritius. The CBI has said that it also seized vouchers of Rs 10 lakh which were allegedly paid for the services. The vouchers were issued in favor of the Advantage Strategic Consulting (P) Limited, a firm "indirectly" owned by Karti. (With PTI inputs)

ED conducts fresh searches on people linked to Karti Chidambaram in INX Media PMLA case

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