26
Wednesday
June 2019
1:43 PM IST
News Headlines
Mobile phones, tobacco products seized in raid at Kannur Central Jail        Govt will not support idea of bifurcating Malappuram district : Minister        Jaishankar files nomination papers for Rajya Sabha poll        Only one family was spoken about and got all attention, says Modi        New British PM to be announced on July 23 By Aditi Khanna        Iran says ''idiotic'' new US sanctions shut doors of diplomacy        Australia outclass England by 64 runs on way to semifinals        Windies legend Lara hospitalised due to chest pain, could be discharged soon        Shakib's magnificent 5-wicket haul steers Bangladesh to 62 run win against Afghanistan        Argentina, Uruguay, Peru through to Copa America quarter-finals        US-Iran fears buoy oil prices as focus turns to Trump-Xi talks        Rupee opened flat at 69.58 vs USD in early trade        UK falling behind in race to engage with India, warns UK Parliament inquiry        Australian Islamic State orphans rescued from Syria camp        Death toll from building collapse in Cambodia rises to 24        BJP fields Jaishankar for Gujarat RS seat after he formally joins party        There is culture of disrespecting expertise under the BJP: Cong        BSP to contest all future polls on its own: Mayawati        RBI Deputy Governor Viral Acharya quits 6 months before his term ends        BJD MLA arrested for forcing engineer to do sit-ups        
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Business News
Demonetisation: ED attaches over Rs 2 crore assets in Axis Bank PMLA case
 
New Delhi: The ED Monday said it has attached assets worth over Rs 2 crore in connection with a money laundering case registered against former officials of an Axis Bank branch here and others, post the 2016 demonetisation exercise. In a statement, the agency said it has issued a "provisional attachment order under the Prevention of Money Laundering Act (PMLA), attaching movable and immovable properties worth Rs 2,95,92,351 of Puneet Jain, Hemraj Singh, Vinod Deshmukh, Rajeev Singh Kushwaha, Mehfooz Khan, Pravesh Kumar Gandhi and others in the Axis bank demonetised currency conversion case".

The Enforcement Directorate (ED) had filed a criminal case in the matter based on an FIR filed by the Delhi Police after it seized Rs 3.70 crore in old notes of Rs 1,000 in 2016. Demonetisation of old Rs 1,000 and Rs 500 notes was announced by Prime Minister Narendra Modi on November 8, 2016. "Investigation revealed that on announcement of demonetisation policy, accused Mohit Garg, Nitin Gupta, Vineet Gupta, Shobhit Sinha and Axis bank officials used shell companies like M/s Beagle Marketing, M/s Sunrise Trading Co, M/s R D Traders, M/s Himalayan Traders of Rajeev Singh Kushwaha for illegal exchange of demonetised currency of Vinod Deshmukh, Puneet Jain, Hemraj Singh, Pravesh Kumar Gandhi and others," it said. The ED said Mohit Garg, Nitin Gupta and Rajeev Singh Kushwaha used to collect demonetised currency from people and deposited them in the account of shell firms operated by Kushwaha. "This was done with the help of Axis Bank officials.

The amount deposited in these shell companies were further transferred to the account of different bullion traders for buying gold. "Thus, they converted demonetised currency into gold/RTGS form on commission basis and illegally exchanged demonetized currency into gold," it said. Investigation also revealed that demonetised currency worth of Rs 40 crore of different persons was converted in this manner, the ED charged. Kushwaha, Vineet Gupta and Shobhit Sinha -- all officials at the Axis Bank''s Kashmere Gate branch -- were arrested by the ED in this case and at present they are out on bail. The employees were later removed by the bank. The ED has filed two charge sheets in this case till now.


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KERALA NEWS
Mobile phones, tobacco products seized in raid at Kannur Central Jail
 Kannur: For the second time in a week, a raid was conducted on Kannur Central Jail on Monday night a  
Govt will not support idea of bifurcating Malappuram district : Minister
Kerala CPM leader's son booked for rape, cheating
Two workers killed in Kerala as earth caves in
INTERNATIONAL NEWS
New British PM to be announced on July 23 By Aditi Khanna
 London: Britain''s new Prime Minister, either Boris Johnson or Jeremy Hunt, will be announced on Jul
Iran says ''idiotic'' new US sanctions shut doors of diplomacy
UK falling behind in race to engage with India, warns UK Parliament inquiry
Australian Islamic State orphans rescued from Syria camp
NATIONAL NEWS
Jaishankar files nomination papers for Rajya Sabha poll
 Gandhinagar: External Affairs Minister S Jaishankar Tuesday filed his nomination papers for the Rajy
BJP fields Jaishankar for Gujarat RS seat after he formally joins party
There is culture of disrespecting expertise under the BJP: Cong
BSP to contest all future polls on its own: Mayawati
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