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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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SpiceJet announces 14 new flights starting July 1

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New Delhi, June 18: Budget passenger carrier SpiceJet on Monday announced 14 new domestic flights and enhanced frequency on some routes effective from July 1.

“Effective July 1 the airline is all set to introduce new direct flights on the Pune-Patna, Chennai-Rajahmundry, Hyderabad-Calicut and Bengaluru-Tuticorin sectors,” SpiceJet said here in a statement.

The airline would also enhance its operations on the Delhi-Patna (second frequency), Bengaluru-Rajahmundry (second frequency) and Mumbai-Bengaluru (fifth frequency) sectors, it said.

The new flights introduced on the Delhi-Patna, Mumbai-Bengaluru, and Chennai-Rajahmundry sectors would be operational daily, the airline said, whereas the frequencies introduced on the Hyderabad-Calicut, Bengaluru-Tuticorin and Bengaluru-Rajahmundry routes would be operational on all days except Tuesdays.

Patna-Pune will be operational on all days except Saturday, it added. SpiceJet further said bookings for the new flights are currently open.

IANS

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Money laundering: Enforcement Directorate files charge sheet against Vijay Mallya

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New Delhi, June 18: The Enforcement Directorate on Monday filed a charge sheet against Liquor baron Vijay Mallya in connection with money laundering case. 

The 62-year-old is facing a trial in the UK Court, to rule if he can be extradited to India to face charges for financial irregularities involving a total amount of Rs 9,000 crores, as well as money laundering cases.

Earlier in May, Mallya lost a lawsuit filed in London by a consortium of Indian banks seeking to collect the amount of Rs. 10,000 crore amid allegations that he committed massive fraud.

In its order, the Court had said the consortium of lenders, including IDBI Bank, can impose an Indian court’s decision against Mallya, who was found to have willfully defaulted on $1.4 billion in loan taken by his now-defunct airline Kingfisher, news agency ANI reported.

Judge Andrew Henshaw also refused to overturn a countrywide freeze placed on Mallya’s assets.

The Businessman was nabbed by Scotland Yard on an extradition warrant in April 2017. Presently he is out on bail on a bond worth 650,000 pounds.

Besides this case, the High Court of London on February 12 ordered Mallya to pay an estimated USD 90 million to a Singapore-based carrier leasing firms in claims.

The case involves a number of aircraft leased by Vijay Mallya’s now-defunct Kingfisher Airlines from BOC Aviation in 2014. However, the business denied the allegations levelled against him and claimed they are “politically motivated”.

WeForNews 

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Army chief General Bipin Rawat meets family of martyr Aurangzeb

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Jammu, June 18: Indian Army chief General Bipin Rawat on Monday visited the family of rifleman Aurangzeb who was abducted and killed by militants in Jammu and Kashmir on June 15.

Gen Rawat went to the village of the slain soldier in Mendhar area of Poonch district.

“He spent 45 minutes with the bereaved family, consoling them and lauding the exemplary courage and bravery of the martyred soldier who faced death in the true tradition of a brave soldier,” a Defence Ministry statement said.

“The Army chief assured the family that the killers of Aurangzeb would be brought to justice and the death of the Braveheart would be avenged at all costs.”

Aurangzeb was brutally killed in Pulwama district in the Kashmir Valley.

He was on way to join his family on the occasion of Eid when the militants intercepted the private vehicle in which the soldier was travelling to Shopian town, from where he would take another vehicle for Poonch.

A video released by the militant group that abducted Aurangzeb showed him bravely acknowledged that he was a soldier of the Indian Army and had participated in anti-militancy operations in south Kashmir.

IANS

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