TwitCount Button
28 C
Mumbai
Tuesday, July 7, 2020

IL&FS scam: ED files first chargesheet, attaches Rs 570 crore assets of directors – Times of India

Must Read

Brazil’s Petrobras starts decommissioning Campos Basin platforms

SAO PAULO, July 7 (Reuters) - Brazilian oil major Petroleo Brasileiro, known as Petrobras, said on Tuesday it has started to decommission its platform P-12 on the Campos basin after receiving permission from the Navy and environment and oil agencies. The company also said it would decommission platforms P-07 and P-15 on the Campos Basin…

COVID-19: Stop exhibition of reckless confidence, FG tells churches

Boss Mustapha The chairman of Nigeria’s Presidential Taskforce on COVID-19 and the Secretary to the Government of the Federation, Boss Mustapha, has warned the churches to stop the “exhibition of reckless confidence” over the coronavirus disease Mustapha advised churches to advise their members on how to stay safe for themselves, their families and for the…

NEW DELHI: The Enforcement Directorate (ED) on Friday filed its first chargesheet within the Infrastructure Leasing and Monetary Services and products (IL&FS) Ltd cash laundering case and hooked up belongings payment over Rs 570 crore, including bank accounts and immovable properties (residential and commercial premises) located in Delhi, Mumbai, Chennai and Brussels (Belgium) held by the contributors of committee of administrators of IL&FS Monetary Services and products Ltd (IFIN).

The IFIN administrators, whose properties were hooked up, are Ravi Parthasarathy, Ramesh Bawa, Hari Sankaram, Arun Saha and Ramchand Karunakaran. The ED has also hooked up various bank accounts and immovable properties held in a roundabout way by Sivashankaran within the title of his relatives and neighborhood companies, below Prevention of Money Laundering Act (PMLA). Total payment of the above provisionally hooked up properties is payment Rs 570 crore, ED acknowledged.

MODI2

Score companies colluded with IL&FS executives: Audit

A forensic audit on credit score ranking agencies has pointed to very massive irregularities by prime IL&FS executives in obtaining favourable rankings, with allegations that the agencies did no longer change the rankings no topic data of stress within the neighborhood, and colluded with the beleaguered entity’s administration.


The company had registered a cash laundering case in opposition to various neighborhood companies of IL&FS on February 19 this three hundred and sixty five days below provisions of PMLA. Its investigation published that the senior administration of IL&FS indulged in various commissions and omissions main to illegal deepest features to them at the expense of the firm.


“In prison conspiracy with every assorted and promoters of various non-public entities, they’ve in flagrant violations to the prudent and established norms, sanctioned and disbursed massive loans to the companies which were already below monetary stress and defaulted on repayment of loans earlier taken from IFIN,” the ED acknowledged in its insist.




MODI2

What ex-IL&FS prime brass bought for loans? Foreign trips, non-public jets and chopper rides

Foreign trips, chopper riders and interior decoration at homes aboard — the probe into the IL&FS saga has unearthed such inducements that the conclude brass allegedly bought from borrowers in return for quicker loans and delayed recoveries. A probe has published loads of cases where the conclude brass bought deepest advantages from the borrowers of IL&FS Monetary Services and products Ltd (IFIN).


The probe also published that the administrators, in insist to care for the credentials of IFIN so as that to boot they may be able to proceed to receive excessive remuneration, allegedly falsified the accounts and indulged in circuitous transactions to artificially boost the balance sheet of IL&FS neighborhood, whereas actually these illegal activities had been main to additional losses to the IL&FS. “By adopting the same modus operandi, in prison conspiracy with Sivashankaran, they fraudulently financed various companies of Siva neighborhood out of which Rs 494 crore remained prominent,” in step with ED.


Be taught Extra

Latest News

Brazil’s Petrobras starts decommissioning Campos Basin platforms

SAO PAULO, July 7 (Reuters) - Brazilian oil major Petroleo Brasileiro, known as Petrobras, said on Tuesday it has started to decommission its platform P-12 on the Campos basin after receiving permission from the Navy and environment and oil agencies. The company also said it would decommission platforms P-07 and P-15 on the Campos Basin…

OTC Analyst (up to OTC Analyst, Ld)

Halliburton Bangalore, Karnataka Permanent Full-time We are looking for the right people — people who want to innovate, achieve, grow and lead. We attract and retain the best talent by investing in our employees and empowering them to develop themselves and their careers. Experience the challenges, rewards and opportunity of working for one of the…

Software Development Team Lead ( Pune + 88090 )

Amdocs Pune, Maharashtra Permanent Full-time Job ID: 88090 Required Travel :Minimal Managerial - NoWho are we? Every day, billions of transactions, calls and messages that hold the world’s communications fabric together run on systems that Amdocs has helped to create. Because we work with some of the largest and most innovative companies on the planet,…

IT Support Engineer

CDK Hyderabad, Telangana Permanent Full-time Location: [[req_workLocation]] Location Address: Hyderabad, Telangana 500081 India (IN) Careers with CDK Global – where to next? So who are we and what do we do? CDK Global is the largest global provider of integrated information technology and digital marketing solutions to automotive dealerships and manufacturers in more than 100…

Coronavirus news live updates: India reports 22,252 new Covid-19 cases and 467 deaths in last 24 hours; tally crosses 7 lakh-mark

16:021,178 Covid-19 positive cases reported in Andhra Pradesh1,178 Covid-19 positive cases reported in Andhra Pradesh in last 24 hours. The total number of positive cases in the state now stands at 21,197. Death toll rises to 252 and a total of 9745 discharged: State Command Control Room, Andhra Pradesh15:56Govt to come up with standard operating…

More Articles Like This