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ED attaches Rs 12 crore assets in demonetised currency case

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Chennai, April 19 : The Enforcement Directorate (ED) on Wednesday announced that it has attached movable assets worth Rs 12 crore belonging to two persons in a demonetised currency conversion case.

In a statement here, the ED said it had attached moveable assets belonging to Ashok M. Jain and Mahaveer Hirani alias Mahaveer Jain alias Mahaveer Kumar in connection with the case.

According to the Directorate, the Income Tax (IT) Department seized new currency notes to the tune of Rs 34 crore, 177 kg of gold and Rs 94.51 crore of old Rs 500/1,000 notes from various premises linked to businessman Sekar Reddy and his associates.

The Central Bureau of Investigation (CBI) registered a case against Reddy and his associates for cheating and conspiracy in conversion of the old notes to the new ones to the tune of Rs 34 crore.

On its part, the ED initiated probe for money laundering against Reddy and his associates.

During the follow-up action, the IT Department seized demonetised currencies (old 500 and 1,000 rupee notes) to the tune of Rs 7 crore and about 6.5 kg gold valued at Rs 1.80 crore from the possession of Jain and about Rs 3.25 crore from the premises of Hirani, the proprietor of Deepak Traders.

The ED said the Prevention of Money Laundering Act (PMLA) investigations revealed Reddy getting around Rs 6-7 crore of new currency notes by using persons like Hirani and Jain through a person Parasmal Lodha.

Lodha had already been arrested by the Enforcement Directorate in a different case.

The ED said its investigations under the PMLA revealed that the moveable assets seized by the IT Department from Jain and Deepak Traders were proceeds of crime and hence Rs 10.25 crore of cash, 6.5 kg gold (valued Rs.1.80 crore) were attached provisionally under the PMLA.

(IANS)

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Farmers take to streets in Rajasthan, Haryana, demand implementation of Swaminathan report & full loan waiver

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Farmers in Rajasthan staged a massive protest demanding complete loan waiver and implementation of MS Swaminathan report

Jaipur, Feb 23: Rajasthan and Haryana have been witnessing massive protest by farmers, who are demanding a complete loan waiver and implementation of MS Swaminathan’s report. 

The farmers are protesting in different places of Haryana including Faridabad and Gharaunda. Speaking to ANI, the district president of Kisan Union, Ajay Rana said, “the protest is against the unfulfilled promises by Modi government, instead of finding the solution and implementing Swaminathan report the government only gave us more problems.”

Earlier on Thursday Rajasthan farmers staged a massive protest on Jaipur-Sikar highway to press for fulfilment of their demands, including complete loan waiver and implementation of the recommendations of Swaminathan Commission.

The farmers first tried to gherao the state assembly, but as they were not allowed to enter Jaipur, they staged a demonstration on the road, leading to serpentine tailbacks.

Chief Minister Vasundhara Raje announced in her budget speech that debts up to Rs 50,000 would be waived off, but the farmers are demanding a full waiver.

Meanwhile, despite massive police deployment at the city’s borders, some farmers managed to sneak into the city, in response to the call given by Akhil Bharatiya Kisan Sabha.

Later, they held a meeting at the Majdoor Kisan Bhawan in the city, which was addressed by Kisan Sabha president Ashok Dhaval and vice president Dulichand Meena, among others.

farmers protest 2

Thereafter, the protesting farmers, which also included women, proceeded towards the state Secretariat. But they were detained by police.
Sources said the state government had arrested Kisan Mahasabha president Amara Ram, Pemaram and over 80 farmer leaders two days back to avert the protest.

Independent MLA Kirodilal Meena and Hanuman Beliwal, who announced forming a third front a few months back, were also part of this protest.

Speaking to the media, Home Minister Gulabchand Kataria said the farmers were stopped on the outskirts in line with the orders issued by the high court, and that no serious cases had been registered against any of them.

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Loan default case: CBI arrests Rotomac firm owner Vikram Kothari, son

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New Delhi, Feb 23: The CBI on Thursday held Rotomac pen owner Vikram Kothari and his son Rahul on charges of cheating a consortium of banks of Rs 3,695 crore (including interest) by siphoning off loans sanctioned to his company for procurement of wheat and other goods for export.

The Income Tax Department also issued a show-cause notice to Kothari asking why prosecution be not initiated against the group.

The agency arrested the two after day-long questioning at the Central Bureau of Investigation (CBI) headquarters in south Delhi’s Lodi Road area.

It was the Kotharis’ questioning for the fourth consecutive day since the probe agency lodged the case against him and his family, and conducted raids at their residential and office premises in Uttar Pradesh’s Kanpur.

The CBI filed the FIR on Sunday night following a complaint against Kothari, his wife Sadhana and son Rahul, from the Bank of Baroda.

Vikram Kothari is the Chairman and Managing Director of Rotomac while his wife and son are Directors.

Kothari had obtained Rs 2,919 crore from Bank of India (Rs 754.77 crore), Bank of Baroda (Rs 456.63 crore), Indian Overseas Bank (Rs 771.07 crore), Union Bank of India (Rs 458.95 crore), Allahabad Bank (Rs 330.68 crore), Bank of Maharashtra (Rs 49.82 crore) and Oriental Bank of Commerce (Rs 97.47 crore), the FIR said.

Kothari, his wife, son, firm Rotomac, some unidentified bank officials and private persons were booked over the charges of criminal conspiracy, cheating and forgery under the Indian Penal Code and Prevention of Corruption Act.

In its complaint, the  Bank of Baroda said that the banks had extended credit to the Kanpur-based firm and its related companies from 2008 onwards.

Earlier, the probe agency had earlier seized several belongings of Kothari and his kin, including laptops and mobile phones.

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Modi greets Trudeau with hug at ceremonial reception

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Narendra Modi with Canadian Prime Minister Justin Trudeau and his family
Narendra Modi with Canadian Prime Minister Justin Trudeau and his family (Photo-ANI)

Canadian Prime Minister Justin Trudeau who arrived in India on 23rd February met Prime minister Narendra Modi at Rashtrapati Bhawan today.

Earlier the Canadian Prime Minister was welcomed with a Guard of Honour at Rashtrapati Bhawan. Several MOUs are expected to be signed between India and Canada. Trudeau also met External Affairs Minister Sushma Swaraj in Delhi.

The visiting dignitary and his family have visited Agra, Ahmedabad, Mumbai and Amritsar.

While Modi did not accompany Trudeau to Ahmedabad, a meeting with Punjab Chief Minister Amarinder Singh in Amritsar on Wednesday was organised only at the last moment.

Ties between New Delhi and Ottawa have been frosty of late as Canada was being seen as offering a platform to separatists demanding an independent Khalistan.

On Thursday, fresh storm blew after it came to light that the Canadian High Commission here had extended an invitation to a convicted Khalistan separatist, Jaspa Atwal, for a reception in honour of Trudeau.

The High Commission then rescinded the invitation while the Indian External Affairs Ministry said that it was ascertaining how a visa was issued to Atwal who holds a Canadian passport.

Trudeau later said that the matter was being taken “extremely seriously” and that Atwal should never have received an invitation.

With Inputs From IANS

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