#ed investigation jaipur

[scamsupdateindia]

ED Arrests Himansh Verma in Rs 1,257 Crore Syndicate Bank Fraud Case

The Enforcement Directorate (ED) has apprehended a significant conspirator involved in the Rs 1,257 crore Syndicate Bank loan fraud. On October 15, Himanshu Verma, also known as Himansh Verma, a resident of Chandigarh, was arrested and subsequently presented before a special court in Jaipur. The judge has remanded Verma to ED custody for 10 days, until October 25.

ED Initiates Money Laundering Investigation

The ED initiated a money laundering investigation under the Prevention of Money Laundering Act, 2002, against officials of the former Syndicate Bank (now Canara Bank) and other suspects. This investigation was based on First Information Reports (FIRs) and a charge sheet filed by the Central Bureau of Investigation (CBI).

Details of the Syndicate Bank Fraud

According to the ED's Jaipur-based Zonal Office, from 2011 to 2016, the main fraudster Bharat Bomb, a Chartered Accountant from Udaipur, Rajasthan, colluded with bank officials to defraud the Syndicate Bank of Rs 1,257 crore through fraudulent loans and fake cheque discounting.

Himansh Verma's Role in the Fraud

The ED's investigation revealed that Himanshu Verma was a key associate of Bharat Bomb, receiving approximately Rs 85 crore in proceeds from the crime. Properties worth Rs 14.88 crore belonging to Verma and his family have been attached by the ED.

"Himanshu Verma received proceeds of crime in various bank accounts he operated and controlled, using complex transactions to place, layer, and integrate the tainted funds," stated the ED.

Verma's Criminal Background and Evasion Tactics

The agency also highlighted that Verma is a hardcore criminal with multiple FIRs registered against him and his family members in various police stations across Punjab and Chandigarh. He is wanted by both the Punjab Police and the CBI.

In an attempt to evade authorities, Verma changed his name to Himansh Verma, obtained a fraudulent police verification report, and secured a new passport under his new name. He traveled abroad via Nepal before the passport authorities canceled his passport upon discovering his criminal background.

Lack of Cooperation with ED Investigation

Despite multiple summonses from the ED, Verma remained uncooperative throughout the investigation, appearing only once.

[tourporlaindiaseo]

Dallas Stars

Based in Dallas, Texas, the Dallas Stars are a professional ice hockey team. They play in the National Hockey League's (NHL) Central Division of the Western Conference. The Stars have made a name for themselves in the NHL thanks to their fervent fan base and spirit of competition.

Past Events and Accomplishments: Establishment: Originally named the Minnesota North Stars, the team was created in 1967 and moved to Dallas in 1993. The team's relocation opened up a new chapter, and they soon established themselves as essential members of the Dallas sports scene.

Stanley Cup Win: The Stars' first Stanley Cup victory in the 1998–1999 season was the apex of their achievements. With goalie Ed Belfour, MVP Joe Nieuwendyk, and captain Derian Hatcher leading the way, the Stars won the championship in an exciting six-game series against the Buffalo Sabres.

Regular Contenders: The Stars have consistently competed strongly against some of the top clubs in the league and made multiple appearances in the playoffs. They have developed a reputation as a strong opponent due to their consistent performance.

Important Players: Mike Modano Modano spent most of his playing career with the Stars and is regarded as the best player in franchise history. He is the NHL's all-time top scorer among players of American descent and played a key role in the team's Stanley Cup triumph.

Jamie Benn Benn has been a vital component of the Stars' recent success, leading the squad as captain since 2013. Benn, who is renowned for his tough play and scoring prowess, was named the league's top scorer in 2014–2015 and was awarded the Art Ross Trophy.

Miro Heiskanen: Heiskanen is a rising star in the NHL who has emerged as one of the best defensemen in the conference. He is an essential player for the future of the Stars because of his superb skating, vision, and defensive ability.

Home Arena: American Airlines Center: Situated in Dallas' Victory Park district, the American Airlines Center serves as the home arena for the Stars. The arena offers fans a cutting-edge setting in which to take in thrilling hockey play and other activities all year long. Competitions: Intense Rivals: The Stars have a number of noteworthy rivalries, namely those with the Nashville Predators, Colorado Avalanche, and St. Louis Blues. Fans are captivated by the heated competition and exciting games that these matches frequently offer. Community Involvement: Dallas Stars Foundation: The team supports numerous philanthropic causes and youth activities as part of its active involvement in the community. The Dallas-Fort Worth region benefits from the foundation's initiatives, which are centered on wellness, health, and education. Latest Achievement: Playoff Runs: The Stars have made deep playoff runs in the past few years, culminating in a trip to the Stanley Cup Finals during the 2019–2020 season, further solidifying their legacy. Their effort showed the team's resiliency and potential even though they were unable to win the championship. In conclusion, the Dallas Stars in the NHL have a great past and a promising future. They remain a formidable force in the league, combining youthful, exciting potential with the experience of seasoned veterans. They are a well-liked and esteemed franchise because of their dedication to greatness on the ice and their involvement in the community off the ice.

The Dallas Stars provide an entertaining and thrilling hockey experience that epitomizes the spirit of community and competitiveness, whether you're a seasoned fan or just getting started.

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Discover the elaborate City Palace and be amazed by the Hawa Mahal's (Palace of Winds) exquisite designs. Explore Jaipur's lively markets and rich cultural legacy.

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With Tour Por la India Company, you may start an amazing adventure by scheduling your Golden Triangle tour right now.

[blogynews]

"Unshaken and Fearless: Rajasthan Congress Chief Hits Back Amidst Dramatic ED Raids | India News"

JAIPUR: The Rajasthan Congress president, Govind Singh Dotasra, expressed his lack of fear in response to the Enforcement Directorate’s (ED) search of his premises as part of a money laundering investigation. Dotasra called on the ED to disclose the results of the search. Speaking to reporters, he stated, “We will not be intimidated or panicked. We will ensure the victory of the Congress party…

[blogynewz]

"Unshaken and Fearless: Rajasthan Congress Chief Hits Back Amidst Dramatic ED Raids | India News"

JAIPUR: The Rajasthan Congress president, Govind Singh Dotasra, expressed his lack of fear in response to the Enforcement Directorate’s (ED) search of his premises as part of a money laundering investigation. Dotasra called on the ED to disclose the results of the search. Speaking to reporters, he stated, “We will not be intimidated or panicked. We will ensure the victory of the Congress party…

[blogynewsz]

"Unshaken and Fearless: Rajasthan Congress Chief Hits Back Amidst Dramatic ED Raids | India News"

JAIPUR: The Rajasthan Congress president, Govind Singh Dotasra, expressed his lack of fear in response to the Enforcement Directorate’s (ED) search of his premises as part of a money laundering investigation. Dotasra called on the ED to disclose the results of the search. Speaking to reporters, he stated, “We will not be intimidated or panicked. We will ensure the victory of the Congress party…

[polls2019-blog]

Today ED will investigate the Congress President Rahul Gandhi’s brother-in-law Robert Vadra for Bik Robert Vadra reached the headquarters of the Regional Enforcement Directorate located in Jaipur with his mother to collaborate in the investigation.

[himanshverma]

ED arrests HImansh Verma key man in Rs 1,257 crore Syndicate Bank loan fraudulent case

 New Delhi: The Enforcement Directorate (ED) has arrested a key conspirator in Rs 1,257 crore Syndicate Bank loan fraudulent case, the agency said on Monday.

The federal agency arrested Himanshu Verma alias Himansh Verma, a resident of Chandigarh, on October 15. Verma was produced before a special court in Jaipur, and the Judge remanded him to the ED custody for 10 days till October 25.

The agency initiated a money laundering investigation in the case against the officials of erstwhile Syndicate Bank (now Canara Bank) and others under the Prevention of Money Laundering Act, 2002 based on the First Information Reports (FIRs) registered and charge sheet filed by the Central Bureau of Investigation (CBI).

ED's Jaipur-based Zonal Office initiated the investigation under which it is revealed that from 2011 to 2016, main fraudster Bharat Bomb, Udaipur (Rajasthan) based Chartered Accountant, in collusion with the bank officials defrauded erstwhile Syndicate Bank to the tune of Rs 1,257 crore by way of fraudulent loans and fake cheque discounting.

During an investigation conducted by the ED, the agency said it was revealed that Himanshu Verma was a key associate of the Bharat Bomb and he received approximately Rs 85 crore proceeds of crime generated out of the fraud.

The ED has attached properties worth Rs 14.88 crore of Himanshu Verma and his family members.

"Himanshu Verma received proceeds of crime in various bank accounts operated and controlled by him through the complex maze of transactions for placement, layering and integration of the tainted funds," said the ED.

The agency said that Verma is a hardcore criminal and multiple criminal FIRs are registered against him and his family members in various Police stations in Punjab and Chandigarh. Verma is wanted by Punjab Police and the CBI too.

ED said that Verma changed his name to Himansh Verma and fraudulently sought a police verification report got issued a new passport in name of Himansh Verma and travelled abroad via Nepal.

"The passport authorities canceled the new passport after knowing about his criminal history," the ED said.

ED had earlier issued multiple summonses to Verma to join the investigation but he always remained non-cooperative in the investigation and never appeared except once.

(ANI)

[alwaysfirst]

Vivo India remitted Rs 62,476 crore abroad, almost 50% to China: ED

A day after it was reported that two top executives of its associated company likely fled India, following raids, the ED on Thursday said that Chinese smartphone company Vivo was involved in huge 'hawala' transactions. It said that out of the total sale proceeds of Rs 1,25,185 crore, Vivo India remitted Rs 62,476 crore -- almost 50 per cent of the turnover out of India, mainly to China. A senior ED official said that they carried out searches at 48 locations across the country belonging to Vivo Mobiles India Private Ltd and its 23 associated companies such as Grand Prospect International Communication Pvt Ltd (GPICPL), and so far, 119 bank accounts of various entities with gross balance to the tune of Rs 465 crore, including FDs to the tune of 66 crore, of Vivo India, 2 kg gold bars, and cash amounting to approximately Rs 73 lakh has been seized under the provisions of the PMLA. According to the ED, all due procedures as per law were followed during the said operations at each premises but employees of Vivo India, including some Chinese nationals did not cooperate with the search proceedings and had tried to abscond, remove and hide digital devices which were retrieved by the search teams. Vivo Mobiles India Pvt Ltd was incorporated on August 1, 2014 as a subsidiary of Hong Kong-based Multi Accord Ltd, and was registered at ROC Delhi. The GPICPL was registered on December 3, 2014 at ROC Shimla, with registered addresses of Solan, Himachal Pradesh and Jammu. The said company was incorporated by Zhengshen Ou, Bin Lou and Zhang Jie with the help of chartered accountant Nitin Garg. Lou left India on April 26, 2018 whereas Ou and Jie left India in 2021. In February this year, the ED initiated a Prevention of Money Laundering case against them on the basis of an FIR lodged at Delhi's Kalkaji police station under sections 417, 120B and 420 of IPC against GPICPL and its Director, shareholders and certifying professionals etc on the basis of complaint filed by Ministry of Corporate Affairs. As per the FIR, GPICPL and its shareholders had used forged identification documents and falsified addresses at the time of incorporation. The allegations were found to be true as the investigation revealed that the addresses mentioned by the directors of GPICPL did not belong to them, but in fact it was a government building and house of a senior bureaucrat. The ED's investigation revealed that the same director of GPICPL, Lou, was also an ex-director of Vivo. He had incorporated multiple companies across the country spread across various states. A total of 18 companies were set up around the same time, just after the incorporation of Vivo in 2014-15, while another Chinese national Zhixin Wei had incorporated further 4 companies. These entities include Rui Chuang Technologies Private Ltd (Ahmedabad), V Dream Technology & Communication Private Ltd (Hyderabad), Regenvo Mobile Private Ltd (Lucknow), Fangs Technology Private Ltd (Chennai), Weiwo Communication Private Ltd (Bengaluru), Bubugao Communication Private Ltd (Jaipur), Haicheng Mobile (India) Private Ltd (New Delhi), Joinmay Mumbai Electronics Private Ltd (Mumbai), Yingjia Communication Private Ltd (Kolkata), Jie Lian Mobile India Private Ltd (Indore), Vigour Mobile India Private Ltd (Gurugram), Hisoa Electronic Private Ltd (Pune), Haijin Trade India Private Ltd (Kochi), Rongsheng Mobile India Private Ltd (Guwahati), Morefun Communication Private Ltd (Patna), and several others, the ED said. These companies were found to have transferred huge amounts of funds to Vivo India, which remitted them out of India, mainly to China. These remittances were made in order to disclose huge losses in Indian incorporated companies to avoid payment of taxes in India, the ED said. Read the full article

[vivanhospitaljaipur]

Erectile Dysfunction Treatment

WHAT IS ERECTILE DYSFUNCTION?

ED is the inability to get a hard penis on sexual arousal or inability to maintain the hardness till completion of sexual intercourse .

Erectile dysfunction (ED) is a common multifactorial Dysfunction affecting 40% of men over age of 40 years and 70% above 70 years. With increasing incidences of life style diseases like Hypertension, Diabetes, Cardiac Problem, Obesity, Sedentary life style and drug abuse, incidences of ED are increasing day by day.

It is traditionally divided in two types: Psychological and Physical. Most of cases have a mixed bag of causes .

Not discussing your problem with right person or taking advice from a quack can be disastrous.

Causes of Erectile Dysfunction;-

Most common cause is Reduced Blood Flow to penis at the time of arousal. It is just like your heart beat: when you do the exercise, more blood flow is required by heart. Similarly, erection needs 10-15 times more blood flow into penis. If it is impaired due to any reason, you are likely to have ED

Stress

Anxiety

Depression

Obesity

Smoking & Tobacco chewing

Lack of exercise

Alcohol abuse

Diabetes

Heart diseases

High blood pressure

Neurological diseases

Vascular diseases

High cholesterol

Relationship problems

Medicines used to treat many physical problems

As ED is a multifactorial disorder, it is important to  find out the possible factors contributing to ED in every case.

Investigations:-

For Assessment of Blood Flow : – Combined intracavernosal injection of Vasoactive substance and Stimulation test, Rigidometry, Penile Perfusion Index and Penile Doppler are helpful.

For Psychological Factors: – Careful history taking, Questionnaires for different problems are recommended.

For Neurological Factors: – SSEP in Dorsal Nerve of penis is suggested.

For Hormonal Factors:- Blood test is done to determine sex hormone level.

Other Blood Biochemistry:- Like Liver Function Test, Kidney Function Test, Blood Sugar Test are very important.

NPT:- Sometimes we need to find out presence or absence of erection, Its duration; or differentiate psychological type from physical ED. This test is very helpful to differentiate the two conditions. This test is done overnight when an instrument is strapped on your thigh with sensors attached to penis. It records all overnight penile activity; the data once obtained are transferred to a computer and analyzed.

TREATMENT OF ERECTILE DYSFUNCTION

Counseling:-

In many cases, counseling alone may be quite helpful especially in case where ED is present with one partner but absent with another. It is called Situational ED. Ideally, it should be couple sex counseling. If you are patient enough to wait, it can be quite rewarding.

Medicines:-

There are many medicines available to improve blood flow into penis; the testosterone supplement is also recommended in appropriate cases

Intrapenile Injection:-

Vasoactive substance is injected by a very thin needle ,to be followed by penile stimulation. You can get it injected from the doctor or take in prefilled syringes to be injected by you or your partner before initiating sex

Caution:- After taking injection, if hardness persists even after 4 hours despite stoppage of sexual stimulation, it can be dangerous and result in Priapism . You should apply ice packs on penis or climb up and down two or three flight of stairs a couple of times. A few pushups may be helpful as well. If the hardness doesn’t subside, rush to an appropriate doctor..

Vacuum Erection Device (VED):-

In this method, a plastic cylinder is fitted over the penis; and controlled negative pressure created. This pressure helps in retention of blood in the penis. Thereby erections is achieved. A ring is fixed at the base of penis to maintain it for a maximum of 30 minutes. You should remove the ring before 30 minutes, otherwise ischemic changes may damage your penis.

Penile Prosthesis:-

If medicines are contraindicated, or have intolerable side effects, or do not work; If intrapenile inj. are not accepted, or had resulted in priapism- in such  cases penile prosthesis is recommended. This is a very effective, safe , permanent and irreversible mode of treatment. It stays for 12-15 years. You need to stay in hospital for 4-7 days and get training about how to operate the device. You may find a minor change in the size but overall satisfactions level, as reported by the couples, is very good after surgery.

Erectile dysfunction treatment in Jaipur, Erectile dysfunction treatment in Rajasthan, Erectile dysfunction Doctor in Jaipur, Erectile dysfunction Doctor in Jaipur, Rajasthan, Erectile dysfunction treatment in Jaipur, Rajasthan.

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[bbcbreakingnews]

ED carries out countrywide raids against PFI, its chairman in money laundering case

NEW DELHI: The ED on Thursday raided at least 26 premises in nine states linked to the Popular Front of India (PFI) including those of its chairman OM Abdul Salam and Kerala state chief Nasarudheen Elamarom as part of a money laundering probe, official sources said. The searches are being conducted in Chennai, Tenkasi and Madurai (Tamil Nadu), Bengaluru, Darbhanga and Purnea (Bihar), Lucknow and Barabanki (Uttar Pradesh), Aurangabad in Maharashtra, Kolkata and Murshidabad (West Bengal), Jaipur, Shaheen Bagh area in Delhi and in Kochi, Malappuram and Thiruvananthapuram districts of Kerala under provisions of the Prevention of Money Laundering Act (PMLA), they said. They added the action was aimed at collecting evidence in multiple money laundering cases that have been clubbed into one and are being probed against the PFI and those linked to it. The premises of Salam and Elamarom, also PFI’s national secretary, are also being covered apart from some other office bearers of the organisation, they said. The central probe agency is investigating PFI’s “financial links” on alleged charges of fuelling the anti-Citizenship (Amendment) Act (CAA) protests in the country, the Delhi riots that took place in February and few other instances. It had earlier recorded the statement of Salam, a senior assistant in the Kerala State Electricity Board, and a number of other PFI office bearers in Delhi. Salam has been posted at the regional audit office of the Kerala electricity board in Manjeri town of Malappuram. PFI and Salam called the raids a gimmick and an attempt to divert attention from the farmers’ issue. “Simultaneous raids were carried out by ED at the houses of Popular Front national leaders across the country. We believe this to be a politically motivated action from the part of the agency. Such raids usually happen in our country whenever the government in power comes under the pressure of popular anger and it wants to divert national attention from it.” “Modi government has always used national agencies against its political opponents and to crush dissent in the country to the point that the credibility of these agencies has come under question,” the organisation said in a statement. The central government has come under immense pressure following the farmers’ protests blockading Delhi and the ED raids are nothing but a “gimmick” to divert the issue, it said. It said authorities “intend to prevent the organisation from its fight against the anti-constitutional CAA-NRC, as it is a forerunner and stays a major force in the citizenship agitations across the country”. The PFI, formed in 2006 in Kerala and headquartered in Delhi, said its activities are “transparent” and out in the public and that they had nothing to hide. The ED, last month, had said it was investigating “financial links” between the PFI and Bhim Army in its money laundering case registered to investigate allegations of illegal funds being used to “fuel” the anti-CAA protests. “The ED is investigating financial links between PFI and Bhim Army on the basis of credible evidence recovered from senior PFI officials,” the agency had said in a tweet. The Bhim Army, led by its chief Chandrashekhar Azad, had told PTI that they were ready for all kinds of investigation. The agency is investigating the PFI under the PMLA since 2018. The ED had said that at least Rs 1.04 crore was deposited in several bank accounts linked to the organisation between December 4 last year and January 6 this year in various parts of the country. The sources had said a total amount of Rs 120 crore, credited to bank accounts linked to the PFI, are under the ED’s scanner. The sources had claimed that these dubious deposits were either made in cash or through the immediate payment service (IMPS) and a number of such instances were seen in Uttar Pradesh, where the maximum number of violent anti-CAA protests were reported to have taken place. Sources, quoting the ED findings, had said the withdrawal of money from the bank accounts linked to PFI and its related entities had a “direct correlation” with the violent demonstrations against the CAA. The ED had also sent a report in this connection to the Union Home Ministry. The agency had arrested former Delhi Aam Aadmi Party (AAP) councillor Tahir Hussain in August and alleged that cash received by him was used to “fuel” anti-CAA protests and the Delhi riots. “The probe revealed that companies owned and controlled by Tahir Hussain and his relatives transferred huge amounts of money to dubious entities and entry operators which was returned by them in cash,” it had said. “The cash received by Tahir Hussain through entry operators was used to fuel the anti-CAA protests and Delhi riots,” the agency had said in a statement.

source https://bbcbreakingnews.com/2020/12/03/ed-carries-out-countrywide-raids-against-pfi-its-chairman-in-money-laundering-case/

[scamsupdateindia]

Himansh Verma, Navrattan Group Chairman, Arrested for ₹1,000 Cr Fraud

In a high-profile case, the Nepal police have apprehended Himansh Verma, the Chairman of Navrattan Group of Companies, who is wanted in connection with a ₹1,000 crore fraud case. Acting on information provided by Punjab Police, Nepal police arrested Verma while he was allegedly attempting to flee the country. Verma, who faces multiple fraud charges in India, including three cases in Jalandhar, had previously managed to escape from police custody in Chandigarh.

A Complex Network of Fraudulent Companies

Himansh Verma, reportedly a shrewd operator, established several companies with direct dealings with government entities. His connections extended to influential politicians, granting him a reputation and a network across several cities, including Jalandhar, Chandigarh, and various locations in Maharashtra. His company is under investigation by the Enforcement Directorate (ED) due to its involvement in a ₹1,250 crore financial scam. Furthermore, a Look Out Circular (LOC) was issued against him on January 5, 2022.

Involvement with CBI and Attempt to Escape Abroad

The Central Bureau of Investigation (CBI) has also conducted inquiries into Verma's activities, resulting in an LOC against him. Facing over ten criminal cases, Verma was allegedly planning to escape to a foreign country through Nepal. He has also been implicated in the high-profile Syndicate Bank fraud case of 2016, amounting to ₹1,800 crore. Despite summons from the ED in Jaipur over the past five years, Verma, his mother Chandar Kanta, and his sister Pallavi Verma have failed to appear for questioning.

Extradition Proceedings: Punjab Police to Bring Him Back

Following his arrest, Punjab Police is expected to begin extradition proceedings to bring Himansh Verma back to India. His return is anticipated to expedite the judicial process against him and reveal further insights into the workings of his alleged fraudulent operations.

Declared as a Wanted Criminal by Jalandhar Police

The Jalandhar Commissionerate Police had previously declared Himansh Verma as a wanted criminal and offered a reward of ₹1 lakh for information leading to his capture. Verma, along with his mother Chandar Kanta, was named in a case registered at the New Baradari police station in Jalandhar. His company’s travel agency offices, located in Jalandhar, allegedly defrauded several clients by promising them overseas placements. In 2021, based on multiple complaints, three cases were registered against Verma. His arrest is expected to bring closure to his victims and shed light on the extent of his operations.

Key Points

Accused of ₹1,000 Crore Fraud: Himansh Verma, Chairman of Navrattan Group, was apprehended in Nepal for his alleged involvement in a massive financial scam.

Multiple Cases and LOC: Verma is implicated in numerous cases across Jalandhar, Chandigarh, and Maharashtra, with the ED and CBI issuing Look Out Circulars.

Attempts to Flee Abroad: Facing over ten criminal cases, Verma tried to escape through Nepal to evade arrest.

Reward for Capture: Jalandhar Police had declared Verma as a wanted criminal, offering ₹1 lakh for information on his whereabouts.

This arrest serves as a crucial step toward justice in one of the most significant fraud cases, highlighting the cooperation between Indian and Nepalese authorities in addressing cross-border financial crimes.

[newsoreo]

Centre using ED, CBI to target Congress government in Rajasthan: State transport minister | India News - Times of India

Centre using ED, CBI to target Congress government in Rajasthan: State transport minister | India News – Times of India

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Rajasthan Transport Minister Pratap Singh Khachariyawas

JAIPUR: Rajasthan transport minister Pratap Singh Khachariyawas on Wednesday accused the BJP-led government of using Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) to target Congress government in Rajasthan. Khachariyawas said at a press conference that the BJP-led government has “shown its true colours”��

[newstox]

Centre using ED, CBI to target Congress government in Rajasthan: State transport minister | India News – Times of India Rajasthan Transport Minister Pratap Singh Khachariyawas JAIPUR: Rajasthan transport minister Pratap Singh Khachariyawas on Wednesday accused the BJP-led government of using Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) to target Congress government in Rajasthan.

[republic24news]

I-T & ED raid ‘loyalists’ of besieged Rajasthan CM | India News

I-T & ED raid ‘loyalists’ of besieged Rajasthan CM | India News

JAIPUR: As the Ashok Gehlot government in Rajasthan battled a siege within, Income Tax and Enforcement Directorate teams on Monday conducted coordinated raids on offices and properties belonging to businessmen and politicians known to be close to the CM, prompting Congress to accuse BJP of “misusing investigative agencies for its self-fulfilling goals”. I-T officials said unaccounted-for…

[dailymagazinblog]

New Delhi [India], Dec 7 (ANI): The Enforcement Directorate (ED) on Friday conducted raids at the premises of some close associates of Robert Vadra, son-in-law of UPA Chairperson Sonia Gandhi, for allegedly receiving money from defence suppliers, according to sources in the investigating agency. The raids were conducted at three places in Delhi and Bengaluru, according to ED sources. While Vadra's advocate Suman Khaitan cried foul, ED sources said the investigating agency has "evidence" that the persons being raided had received money in their bank accounts from defence suppliers. Khaitan claimed that the ED officials raided "close associates" and business partners of Vadra without even showing any search warrants. "As part of this sinister agenda, officers of Enforcement Directorate (ED) from Jaipur & Delhi raided the office at Sukhdev Vihar, New Delhi as also the residence of his associate at Noida. Besides raiding the residence of associate sister also," he alleged in a statement released by Vadra on his Facebook page. "The raids have been continuing since morning in a completely illegal fashion with no employ or lawyer being permitted to enter the premises," Khaitan charged. In the statement, Khaitan alleged that "politics of revenge and malicious vendetta has today reached its nadir." Earlier, speaking to reporters, he alleged, "It has been four and a half years (of BJP rule) and they found nothing, so now they are locking us outside and planting and fabricating evidence." He said the ED sleuths had "locked our people" of Skylight hospitality inside the premises and were not allowing anyone to go inside. Questioning whether this was the "rule of law", Khaitan asked, "Is this nazism?.. Is this a jail?" He said a newspaper had reported this morning that that three summons had been served on Vadra by the ED and added "but we received none." Khaitan said, "For 5 years, the present rulers have used every trick in the book to persecute, to hound and to malign my client, Robert Vadra. Government has unleashed all its agencies including ED, CBI and Income Tax to victimize Robert Vadra in an utterly mala fide manner and to harm his reputation and attack his family members." He alleged that the raids were carried out "inspite of the fact" that Vadra has "adhered to notice/summon by every agency for several years and supplied every document asked for and co-operated fully. The last two sets of documents running over 600 pages were furnished to ED on 26.11.2018 and 15.12.2018." (ANI)

https://www.aninews.in/news/ed-raids-vadras-close-associates-for-receiving-money-from-defence-suppliers201812072156380001/

[visionmpbpl-blog]

New Post has been published on http://www.visionmp.com/pnb-fraud-case-suspension-of-18-bank/

PNB fraud case: Suspension of 18 bank officials is not enough, role of higher-ups must be probed

So far, the state-owned Punjab National Bank (PNB), embroiled in the alleged Rs 11,360 crore Nirav Modi scam, has suspended 18 officials whom it found responsible for supervisory lapses. The managing director of the bank Sunil Mehta said the bank has been suffering from some illness since 2011, and now a surgery is being carried out to remove the cancer.

By sacking 18 employees, have Mehta and the PNB been able to fix responsibility? Of course not. As one of the whistleblowers Dinesh Dubey pointed out, the malaise runs deep in the banking system, and the suspension of junior and mid-level employees is just another distraction. Has the government been proactive in directing the Reserve Bank of India (RBI) and the banks involved in this daylight robbery to take action aimed at bringing the top level to justice?

A senior finance ministry official on the condition of anonymity said that action should be taken against those who scrutinised the Nirav Modi loan case, and against other top officials to whom internal audit reports of the bank were handed over year after year since 2011.

“Complaints of alleged irregularities and rip-offs are received every day in the ministry. The ministry’s job is to forward them for further action to the concerned authorities. I am sure that if any complaint was received by the ministry in the last couple of years, it must have gone to the concerned bank and the RBI for appropriate action,” the official said.

BN Mishra, General Manager, Corporate Communication and Marketing, Punjab National Bank defended the measures taken by the bank in handling the scandal, saying that it is already taking action against officers involved and will ensure that the guilty are not spared. Mishra told Firstpost that among the 18 suspended PNB officials, at least two are from the top management.

“The internal probe is still on and the suspension of more officials cannot be ruled out at this stage. We are determined to fix responsibility and appropriate action will be taken against all those involved in this case,” he said.

Former director of Allahabad Bank Dinesh Dubey said that Mehta is a good banker, but he must be aware of Mehul Choksi, the maternal uncle of Nirav Modi, as he was serving as General Manager of Allahabad Bank when the loan proposal of the Choksi-owned Gitanjali Gems had created ripples in board meetings in 2013. The alleged scamsters first targeted PNB in 2011 and Mehta assumed the charge of Managing Director and Chief Executive Officer in May 2017. During a press conference, Mehta maintained that his bank came to know about the scam only in the third week of January 2018.

“The big question is whether he knew about the Choksi saga while he was serving at Allahabad Bank till January 2016. And whether Mehta is going to take action against the top heads of the bank. At this juncture, it is all speculative and seems to be an incomplete picture of the entire scandal. The issue is not about NDA or UPA, but about the deep-seated corruption in the banking system,” the finance ministry official further added.

According to former director of Allahabad Bank Dinesh Dubey, the managing director of that bank was unhappy with his dissent note against the Gitanjali Gems proposal.

“The then Managing Director Shubhalakshmi Panse was upset with me and even expressed her displeasure in a board meeting held in Kolkata. I wrote to the finance secretary about our verbal duel,” Dubey told Firstpost.

Shubhalakshmi Panse served as the Managing Director at Allahabad Bank from October 2012 to 31 January, 2014. She was appointed as Independent Director, PNB Housing Finance Limited. She was also a member of a committee that was formed by the RBI in 2014 to review the governance of boards of banks in India. The panel had submitted its report to the then RBI governor Raghuram Rajan on 12 May, 2014. In the report, it had highlighted the rising problem of Non-Performing Assets (NPAs) with the public sector banks saying, “During 2013-14, loan asset quality in banks has deteriorated at a frightening pace….Oversight is also needed on the quality of the loan asset portfolio, as under-reporting NPAs and other stressed assets sensitively influences the integrity of financial reporting.”

Dubey, in his letter to the finance secretary, wrote, “On Friday 22 November, 2013, a meeting of MCBOD and other four committees, and also the board meeting was held at Kolkata at the Grand Oberoi Hotel. In the board meeting, there was an agenda regarding Geetanjali Jewellers. This agenda had already appeared in past board meetings more than four times. On each occasion, I expressed my dissent note. But again, this agenda was taken up in this meeting for approval. The CMD asked me to give my consent to pass it, but I refused and again expressed my dissent note. The CMD also said that I complained against him to the finance secretary. I had to explain and submit to him a three-and-a-half page note on this issue. One shareholder director became angry on me and one other bank nominee director said to me, ‘Ghar ki baat ghar me hi rehne dete. (It was a matter within the household, and you should have let it remain so).’ To this, I replied that my appointing authority is the finance department of the Government of India and I am liable to them, while your appointing authority is the board of the bank. I asked why my views on this agenda were been continuously ignored. On this, the same board of directors asked me what the remedy can be with respect to approving this agenda. To this, I asked how they can convert an LC without approval from the board and said that it was against the norms. If they were to do this on their own, why was the board’s approval required? They responded saying ‘Forget about what happened and please tell us what options are there now.’”

Dubey later claimed that he was forced to resign by the government and top officials of the bank.

Speaking to Firstpost, the then Financial Services Secretary Rajiv Takru denied that any pressure was put on Dubey to quit. Takru served in the department, which covers the functioning of banks, financial institutions and insurance companies, from February 2013 to February 2014.

“I met him (Dinesh Dubey) for the first and last time when he came to submit his resignation letter. I remember that he wrote the resignation letter on my table in Hindi and cited personal reasons for quitting the post. He did not say anything about problems in the bank and neither did he mention anything related to Gitanjali Gems. I had put up his resignation letter to the finance minister and days later, it was accepted,” Takru said.

Top sources in the finance ministry said that if Dubey had complained about the scam looming large over Allahabad Bank, some action must have been taken by the RBI and the bank.

“We need to check the records related to the complaint against Gitanjali Gems. However, the RBI must have the Action Taken Report in this regard,” sources said.

Can investigative agencies fix responsibility?

The Central Bureau of Investigation (CBI) has registered an FIR against the Mehul Choksi-owned Gitanjali Gems on the basis of a complaint filed by the PNB authorities on 13 February 2018. The agency said that it will probe into allegations leveled by Dubey against Allahabad Bank officials. It also said that the records related to the period mentioned by the whistleblower and former director will be examined after collecting the documents.

Sources in the probe agency said they have conducted searches at the locations belonging to the Gitanjali Group, other directors of the linked companies, factories and residential premises.

“So far, searches have been conducted at Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore. We have covered almost 20 locations and seized some crucial documents related to the probe,” CBI sources further added.

The Enforcement Directorate (ED) has already issued summons to Nirav Modi and Mehul Choksi under the Prevention of Money Laundering Act, even as the Ministry of External Affairs has said it is not aware about their location. The ED raided 35 locations linked to Nirav Modi on Friday and seized diamonds and gold worth over Rs 500 crore. So far, the agency has seized assets worth Rs 5,600 crore.

“We will look into what has happened in the case since 2011. We are likely to quiz bank officials soon. In the next few days, we will start recording their statements,” the sources further added.