economic offences wing

Mumbai police's economic offences wing has filed a cheating and conspiracy case against former directors of Anil Ambani-linked companies. Accused allegedly secured a Rs 150 crore bank loan, diverted funds, and defaulted. This marks the second FIR filed by Axis Bank against ADAG group companies, with the crime spanning from 2010 to 2019.

Probe Transferred To economic offences wing

A Delhi court has taken decisive action, charging Sukesh Chandrasekhar, his wife Jacqueline Fernandez, and 14 others in a staggering Rs 200 crore case involving extortion and money laundering. With ample evidence prompting charges under the PMLA and MCOCA, the court dismissed defenses from Fernandez and a claimed intermediary.

At least 27 individuals have reported being defrauded of nearly Rs 14 crore in a fraudulent online investment scheme. Promoters lured victims with promises of steady returns via advanced trading technology, but funds were later blocked. Investigations are underway, with a Dubai-based man named as a suspect.

Two Chhattisgarh businessmen, Surjit Roy and Sameer Srivastav, were apprehended by Odisha's EOW for their alleged involvement in a Rs 9.56 crore bank fraud using cloned cheques. The duo is believed to be part of an interstate syndicate that defrauded a district mineral foundation trust. Investigators are hopeful their interrogation will expose the wider network.

A Delhi court has framed charges against actor Jacqueline Fernandez and alleged conman Sukesh Chandrashekar in a Rs 200-crore money laundering case. Chandrashekar also faces charges under MCOCA for impersonation and extortion. The trial will now commence, with all accused pleading not guilty. The ED alleges Chandrashekar operated a criminal network from jail, extorting over Rs 200 crore.

Uttar Pradesh Police's economic offences wing arrested Mahipal Singh, a director of Karmabhoomi Real Estate Company Limited, in connection with a ₹100 crore fraud. The company allegedly duped hundreds of investors by promising high returns and plot allotments but failed to deliver. Five other directors remain absconding.

A special court permitted businessman Raj Kundra, accused in a money laundering case, to travel abroad for business between June and July. Despite the Enforcement Directorate's opposition, the court noted the cancellation of his Look Out Circular and the fundamental right to travel. Kundra must deposit security, provide an itinerary, and report upon return.

A special court granted businessman Raj Kundra permission to travel abroad for business between June and July, rejecting the Enforcement Directorate's objections. The judge cited the cancellation of a Look Out Circular and the fundamental right to travel, while imposing conditions including a security deposit and reporting requirements.

In a pivotal move aimed at enhancing law enforcement efficacy, the Uttar Pradesh government has executed a series of strategic police appointments. Alok Singh steps into the role of DG PAC Headquarters and DG Special Security Force, ensuring a robust security framework.

The Orissa High Court denied bail to BJD leader Dillip Kumar Nayak, arrested in a multi-crore cheating case. Justice Satapathy cited serious financial impropriety and the ongoing investigation, noting it's too early to deem the case civil. Nayak faces allegations of duping an investor of over Rs 15 crore in a real estate venture.

‘Economic offences involving deep-rooted conspiracies and huge loss of public funds are grave offences affecting the economy of the country as a whole.’