27
Monday
January 2020
2:39 AM IST
News Headlines
Padma Vibhushan for Jaitley, Sushma, Fernandes posthumously; Parrikar given Padma Bhushan        Coronavirus scare: Nearly 100 people under observation, PMO reviews India''s preparedness        China facing ''grave'' situation, says Xi as coronavirus death toll rises to 41        Quake kills 22 in Eastern Turkey        Nepal offers to play role of mediator between India and Pakistan        India can play Asia Cup matches at neutral venue, but call is ACC''s: PCB CEO Khan        South Africa crumble after Broad, Wood help England rack up 400        Hugo Boumous inspires FC Goa to a thrilling 3-2 win over Kerala Blasters FC in Hero ISL        Growth slowdown in India temporary, expect momentum to improve going ahead: IMF chief        SC refuses to entertain plea against imposition of NSA amid anti-CAA protests        'Batman' script is beautiful, dark and moving: Colin Farrell        Scriptwriting is underrated: Ayushmann Khurrana        Agarkar applies for national selector's job, frontrunner for chairman's post, Prasad in running too        Rahul relishing dual role, says staying behind stumps helps batting too        Samsung moves India chief HC Hong to Latin America        WEF 2020 meeting ends with hopes for better and cleaner economy        Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading        Italy threatens Facebook with new fine for selling users' data        Nepal says if India can resolve boundary issue with Bangladesh, why not Kathmandu        Houston building explosion shakes city, scatters debris        
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Business News
Bank fraud: ED attaches Rs 34-cr assets of Gujarat company
 
New Delhi: Assets worth over Rs 34 crore of a Gujarat-based firm have been attached under the anti-money laundering law in connection with an alleged bank fraud case, the Enforcement Directorate said on Saturday.

The Enforcement Directorate probe pertains to Biotor Industries Limited and its managing director, Rajesh M Kapadia, and others, which is also being investigated by the Gujarat police and the Central Bureau of Investigation.

Probe revealed that the accused had "misappropriated" funds to the tune of about Rs 250 crore by preparing bogus bills and invoices during 2007-2009, the ED said in a statement.

"Arif Ismailbhai Memon, owner of KGN Group of companies, was instrumental in preparing the circular paper transactions for transferring proceeds of crime in connivance with Rajesh Kapadia and others," it said.

By adopting fraudulent methods, Memon parked the proceeds of crime of about Rs 62 crore in the accounts of the KGN Group companies, it alleged.

The federal agency has issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of a land, plant and machinery owned by KGN Enterprise Ltd and Sailani Agrotech Industries Ltd in Hariyala village of Gujarat's Kheda district and Memon's residential property located at Paldi in Ahmedabad.

The total value of the assets frozen under the latest order is Rs 34.47 crore, it said.

The ED had earlier attached assets of Rs 149 crore and has filed few charge sheets in this case.


Samsung moves India chief HC Hong to Latin America
WEF 2020 meeting ends with hopes for better and cleaner economy
Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading
Raids on Lalit hotels group, promoter led to Rs 1,000-cr black foreign assets: CBDT
Rupee falls by 7 paise to end at 71.33 against US dollar
Looking to build new businesses in India on top of existing verticals: Canon
Rupee strengthens 2 paise to 71.19 on easing crude prices
Budget will have 'plan of action' on economy: Javadekar
India, Iran should work to expedite Chabahar Port development, connectivity to Afghanistan: Zarif
Forex reserves rise by USD 58 mn to record high of USD 461.21 bn
India, US in advance-stage talks to resolve trade issues: Goyal
Gadkari urges states to come forward in the drive for curbing accidents
IndusInd Bank down 5.44 pc to Rs 1400.60
Rupee up by 7 paise against USD
CCI directs probe against Amazon, Flipkart
Panic stricken depositors mill around bank after RBI caps withdrawal limit
US removes currency manipulator label on China ahead of inking of trade deal
Flipkart opens two warehouses in Haryana, to create over 5,000 local jobs
Rupee cuts short 5-day gaining streak; edges down 1 paise to 70.87 against dollar
Rupee extends gains by 8 paise to 70.86 against US dollar
KERALA NEWS
Man killed with soil excavator
 Thiruvananthapuram: A 36-year-old man was killed with an excavator near here when he objected to a g  
Delhi court extends ED custody of NRI bizman C C Thampi
Congress president restructures KPCC
Kerala Guv again criticises LDF govt for passing resolution in Assembly against CAA
INTERNATIONAL NEWS
China facing ''grave'' situation, says Xi as coronavirus death toll rises to 41
 Beijing: President Xi Jinping on Saturday said that China is facing a "grave situation" but exuded c
Quake kills 22 in Eastern Turkey
Nepal offers to play role of mediator between India and Pakistan
Italy threatens Facebook with new fine for selling users' data
NATIONAL NEWS
Padma Vibhushan for Jaitley, Sushma, Fernandes posthumously; Parrikar given Padma Bhushan
 New Delhi: Former union ministers Arun Jaitley, Sushma Swaraj and George Fernandes, Olympian boxer M
Govt will not allow universities to become political battlegrounds: Ramesh Pokhriyal
Maha phone tapping row hots up; Fadnavis rejects charge
Bru settlement: Tripura begins survey to identify beneficiaries
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