THE ENFORCEMENT DIRECTORATE
Byju’s American assets Epic and Tynker sold for a song
Computer science education company CodeHS has acquired Tynker for $2.2 million in cash, a significant drop from the $200 million that Byju’s paid in a cash-and-stock deal to acquire it in 2021. Epic, which was acquired by Byju’s in 2022 through a $500-million cash-and-stock transaction, has been sold to China's TAL Education Group for $95 million.
Lilavati Trust says no dues owed to HDFC Bank
Lilavati Kirtilal Mehta Medical Trust accuses HDFC Bank's Sashidhar Jagdishan of accepting a bribe. The trust denies any outstanding dues to the bank. They claim no connection to Splendour Gems Ltd. HDFC Bank counters, stating the trust is trying to block loan recovery. The bank says Splendour Gems defaulted in 1995. Outstanding dues are approximately Rs 65.22 crore.
Ayodhya land prices soar as circle rates hiked up to 200 per cent
Ayodhya's circle rates have surged by 30% to 200% after eight years, especially near the Ram Janmabhoomi Temple, where rates soared over 150%. The revised rates, effective Monday, aim to curb unaccounted transactions and benefit landowners through enhanced property valuations. These changes reflect increased demand and infrastructure development in the region.
HDFC Bank to take legal action after fraud allegations against CEO Sashidhar Jagdishan
HDFC Bank will pursue legal remedies against allegations by the Lilavati Kirtilal Mehta Medical Trust, which called for the suspension of CEO Sashidhar Jagdishan over alleged financial fraud. The bank strongly denies the claims, stating they are attempts to obstruct loan recovery from defaulters. HDFC asserts the Trust's actions are a malicious attempt to defame its CEO.
Kerala businessman 'fails' to give evidence in 'bribery' case against ED officer: Sources
A Kerala businessman, Aneesh Babu, who accused an ED officer of corruption, has reportedly denied having evidence against the investigator during his deposition with the Enforcement Directorate. He stated he only knew a person named Wilson, who was arrested for bribery related to Babu's money laundering case.
Trump deploys 2,000 national guard troops to LA amid growing anti-ICE protests
The Trump administration has deployed 2,000 National Guard troops in Los Angeles following immigration enforcement raids that led to widespread protests. After President Trump criticised California officials for failing to control the unrest, federal forces intensified operations, resulting in over 100 arrests. The raids, targeting alleged document fraud at a downtown warehouse, have raised concerns about the impact on immigrant communities amid escalating tensions.
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China says willing to improve communication with countries on rare earth controls
China said it has approved some rare earth export requests and aims to refine its approval process. The move comes as India faces growing shortages, with recent export requests reportedly denied.
Dino Morea summoned by ED in Mithi River Distilling case
Dino Morea is in trouble. The Enforcement Directorate summoned the Bollywood actor. This is regarding the Rs 65 crore Mithi River desilting scam. Raids occurred at his Mumbai home and other locations. His brother Santino is also under investigation. The ED case is based on a Mumbai Police FIR. It alleges irregularities in Mithi River desilting tenders from 2017-2023.
Online betting, gambling: ED freezes over 760 'mule' bank accounts, arrests two
The Enforcement Directorate (ED) has frozen 766 'mule' bank accounts and arrested two individuals, Vishal Bhardwaj and Sonu Kr Thakur, in connection with a money laundering investigation. This action targets a racket involved in illegal betting on IPL, T20 World Cup matches, and other gambling activities.
Thief or no thief? What cases say about Vijay Mallya
Vijay Mallya, facing accusations of bank loan defaults, has apologized for Kingfisher Airlines' collapse while denying being a thief. He expressed willingness to return to India under specific conditions, claiming his dues have been recovered multiple times over. Despite his claims, Mallya faces charges of criminal conspiracy, fraud, and money laundering, with investigating agencies detailing several cases against him.
Mithi river desilting: ED raids actor Dino Morea, BMC officials, others
The Enforcement Directorate conducted searches at actor Dino Morea's properties and other locations in Maharashtra and Kerala concerning a money laundering investigation. This probe is linked to the Mithi river desilting "scam," which allegedly caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC). The raids target over 15 premises, including those of contractors and others involved.
Nikhil Sosale, RCB exec and Virat Kohli's 'friend', arrested by Karnataka Police in Bengaluru stampede case
Karnataka Police arrested three officials from Royal Challengers Bengaluru and DNA Entertainment. This action follows a stampede outside M Chinnaswamy Stadium. Eleven people died and over 50 were injured. Chief Minister Siddaramaiah ordered the arrests. He cited irresponsibility and carelessness by the organizers. An FIR has been registered regarding the incident.
'Incredibly scary': Trump admin takes a huge step that could endanger lives of pregnant women
The Trump administration has rescinded a Biden-era policy that protected emergency room abortions. Trump's move strips away a critical legal shield for doctors and pregnant women who live in states that ban the procedure. This decision reverses the Biden administration's 2022 guidance, issued after Roe v Wade was overturned, which aimed to ensure access to life-saving abortions in emergencies.
UP: Insurance fraud amount in Sambhal crosses Rs 100 crore; ED seeks documents from police
A massive insurance scam, exceeding Rs 100 crore, has been uncovered in Uttar Pradesh's Sambhal district, involving fraudulent policies, fake documents, and even murders to claim insurance money. Police have arrested 52 people and are investigating links to 12 states, with the Enforcement Directorate also taking interest.
Two arrested as Punjab Police busts cross-border weapon smuggling module
Punjab Police successfully dismantled a cross-border weapon smuggling operation linked to Pakistan, arresting Surajpal Singh and Arshdeep Singh and recovering six firearms with live cartridges. This action followed a specific tip-off and is part of the ongoing Yudh Nashian Virudh campaign, which aims to combat drug abuse and maintain state security.
Missing Indore couple probe: Meghalaya police recovers raincoat during ongoing search operation
Meghalaya police are searching for Sonam Raghuvanshi near Sohrarim after her husband, Raja Raghuvanshi, was found murdered near Weisawdong Falls. A raincoat with possible stains was recovered, pending forensic analysis. The couple mysteriously disappeared on May 23rd, prompting intensified search efforts and high-level discussions between Meghalaya and Madhya Pradesh officials.
Terror funding? Charitable entities under CBDT lens
The Central Board of Direct Taxes (CBDT) is set to conduct a thorough review of charitable entities and non-profit organizations to detect potential misuse for terror financing or money laundering. Collaborating with agencies like IB, ED, and NIA, the CBDT will create a database focusing on institutions with foreign connections and those with questionable financial activities.
Go after big fish, use tech to expose trade fraud: Nirmala Sitharaman to DRI
Finance Minister Nirmala Sitharaman urged the Directorate of Revenue Intelligence (DRI) to target major players and uncover systemic risks amid evolving geopolitical and trade challenges. She emphasized the importance of a robust intelligence network for fraud detection to ensure fair trade practices. Sitharaman also advocated for deeper integration of technology and inter-agency coordination to combat smuggling and narcotics effectively.
Evolving geopolitics making our job challenging; time to uncover deeper systemic risks: Sitharaman to DRI
Nirmala Sitharaman urged India's intelligence and enforcement agencies to be more alert and resourceful amidst a complex geopolitical environment. She emphasized the need to uncover deeper systemic threats beyond surface-level enforcement, focusing on high-impact actions and dismantling nefarious chains. Sitharaman also advocated for technological integration, international coordination, and trust-based compliance within the Directorate of Revenue Intelligence.
Supreme Court quashes cognisance in ED case against Rathi Steel & its top exec
The Supreme Court overturned a lower court's decision to acknowledge a money laundering case against Rathi Steel and its executive, Kushal Kumar Agarwal, due to non-compliance with the Bharatiya Nagarik Suraksha Sanhita (BNSS). The court emphasized the necessity of providing the accused with a show-cause notice before summoning them for trial, as mandated by the new provisions.
Who is Mohamed Sabry Soliman? suspect identified in Boulder, Colorado targeted terror attack
Mohamed Sabry Soliman has been identified as the suspect in a targeted terror attack during a pro-Israel demonstration in Boulder, Colorado. Authorities say he threw Molotov cocktails, injuring several people. The FBI and Boulder police are continuing their investigation into the motive and potential charges in the incident
'Land-for-Jobs' scam: Delhi HC rejects Lalu Prasad Yadav's plea to halt trial court proceedings
The Delhi High Court rejected Lalu Prasad Yadav's request to halt the trial court proceedings. The case relates to the alleged land-for-jobs scam investigated by CBI. Justice Dudeja said Yadav can argue his points in the trial court. Yadav's lawyer argued CBI needed prior approval. The CBI countered that approval was secured.
CBI arrests deputy director of ED in bribery case
The CBI has apprehended Chintan Raghuvanshi, Deputy Director of the Enforcement Directorate in Odisha, in connection with a bribery case. Raghuvanshi, an IRS officer, was allegedly caught during a trap operation while accepting a bribe of Rs 20 lakh from a mining businessman in Bhubaneswar. He was arrested after questioning.
Wadhawan brothers siphoned Rs 11,500 crore from DHFL using 87 shell firms, says ED
Kapil and Dheeraj Wadhawan, promoters of DHFL, are accused of siphoning off over ₹11,500 crore through shell entities, using fraudulent loans. The ED's chargesheet details how they allegedly diverted funds to finance lavish purchases, including art, jewellery, and a helicopter.
SC rejects Michel's Plea challenging local address proof as HC bail condition
The Supreme Court has turned down Christian Michel James's plea, who is an alleged middleman in the ₹3,600 crore VVIP chopper scandal, challenging the Delhi High Court's bail condition requiring a local address for release. The bench Justices emphasized that bail conditions must be met, suggesting Michel remain in Tihar Jail if he cannot provide a local address.
Delhi excise policy case: Arvind Kejriwal moves court seeking no objection certificate for passport renewal
Arvind Kejriwal, implicated in the Delhi excise policy case, has applied to court for a no objection certificate (NOC) to renew his passport, which expired in 2018. The court has requested responses from the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) by June 4.
AgustaWestland case: SC dismisses British national Christian Michel’s plea over bail address requirement
The Supreme Court dismissed Christian Michel James' plea challenging the Delhi High Court's order to provide his post-release address in the AgustaWestland money laundering case. James, accused of being a middleman, argued he lacked a local address after six years in Tihar Jail.
Interpol issues first Silver notice on India's request
Interpol has issued Silver notices for Shubham Shokeen and Amit Madanlal Lakhanpal. Shokeen is wanted for visa fraud, accused of collecting illegal payments for Schengen visas. He acquired properties in Dubai with the proceeds. Lakhanpal allegedly created a cryptocurrency, MTC, and collected funds without permission. He is accused of embezzling the invested money.
ED seizes Rs 1.70-cr cash, documents in raids against Jaypee Infratech Ltd, others
The Enforcement Directorate has seized Rs 1.70 crore and property documents during raids related to Jaypee Infratech and Jayprakash Associates. The searches occurred in Delhi, Noida, Ghaziabad, and Mumbai. Gaursons India, Gulshan Homz and Mahagun Real Estate were also searched. The case involves alleged fraud against homebuyers. FIRs were filed by Delhi and Uttar Pradesh police.
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