Heena Sharma Blog

  The ED on Monday conducted raids on at least ten premises of a Mumbai-based realty group in connection with its money laundering probe in the Yes Bank alleged bank fraud case, official sources said. They said premises of Omkar Realtors and Developers, that includes 7 residential and 3 official in Mumbai, were searched by the central probe agency.   Emails sent by PTI to the realty group did not elicit a response. The action is being carried out under the Prevention of Money Laundering Act (PMLA) and the raids are aimed to gather more evidence, they said. The Omkar Group is promoted by its chairman Kamal Kishore Gupta and Managing Director Babulal Varma, they said. The group is alleged to have misused various permissions given under the SRA (slum rehabilitation authority) schemes and is alleged to have "diverted" around Rs 450 crore taken by way of loan from Yes bank, ED sources said. Read More

  Earlier this year, a Netflix drama ‘Jamtara’ became a big hit. The story was about a group of small-town young men running a lucrative phishing operation until a corrupt politician wanted to be in on the scheme and a cop wanted to fight it. This web series highlights some real instances of ‘Jamtara’ — a sleepy little district in northeastern Jharkhand — that had emerged as a Phish pond in India. It also explains how a common man can be deceived and looted online by the exchange of some digits. Online scams and money laundering are not a recent phenomenon. But it is back in the news again. There are several instances of even common people becoming unwitting participants in money-laundering operations. Business Standard's Bindisha Sarang answers some frequently asked questions about cyber-crime. Read More

The Enforcement Directorate on Friday filed a charge sheet against former Bhushan Power and Steel Ltd CMD Sanjay Singal and others in a multi-crore money laundering case linked to an alleged bank loan fraud. The charge sheet was filed before Special Judge Arun Bhardwaj. Singal was placed under arrest on November 22 last year under the Prevention of Money Laundering Act (PMLA) after he was questioned in connection with the case. Read More

The UK's Court of Appeal refused Mallya the permission to appeal against a UK High Court order in favour of 13 Indians banks to recover funds amounting to nearly £1.145 billion. Current Affairs News : Vijay Mallya has lost his attempt to appeal against a UK High Court order in favour of 13 Indian banks to recover funds amounting to nearly £1.145 billion, in another setback to the embattled liquor tycoon. The UK's Court of Appeal refused the 62-year-old businessman, who is separately undergoing an extradition trial in a UK court over fraud and money laundering charges by the Indian authorities, the permission to appeal against the High Court order dated May 8. In the ruling, Judge Andrew Henshaw had refused to overturn a worldwide order freezing Mallya's assets and also denied permission to appeal, which left Mallya with the only option of turning to the Court of Appeal. Judge Henshaw's order marked the first recorded case of a judgment of the Debt Rec...