Tuesday, Jun 19 2018 | Time 22:00 Hrs(IST)
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  • Tripura government gives important for Feni Bridge: Finance Minister
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  • 3 JeM militants killed in encounter, firing stopped in south Kashmir
  • First conference on environment to be held in Bihar on Jun 24 and 25: Modi
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  • Prepare fully for any eventuality,Naveen directs the administration
  • 3 MoUs signed and 6 at advanced stage under ‘Adopt a Heritage’ scheme: Culture Ministry
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  • J&K heading for Governor rule;Vohra sends report to President
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Kanishk Gold property worth Rs 138 Cr attached

New Delhi, June 14 (UNI) Enforcement Directorate (ED) has attached the properties of Kanishk Gold Pvt Ltd and its Managing Director Bhoopesh Jain in a case registered under the Prevention of Money Laundering Act (PMLA) on June 14, 2018, an official release said here on Thursday.
The probe agency move comes after the registration of case against Bhoopesh Jain by the CBI, Bangaluru for defrauding a consortium of 14 banks led by State Bank of India to the tune of Rs 824 crore.
During the investigations, it was revealed that Jain had unduly enjoyed bank borrowings in the form of Working Capital Credit facilities to the tune of several Crore from the 14-bank Consortium, for his company Kanishk Gold Pvt Ltd (KGPL) from the year 2009.

“The credit facilities extended to the Company were secured by the primary raw material of Gold Bullions, semi finished goods and finished goods of Gold Jewellary and other stores showing huge stocks, whereas the accused had mortgaged several immovable properties with the Consortium Banks as collateral securities. However it was later realised that stock statements were fudged with the help of chartered accountants and on inspection by the banks in May 2017, it was found that were there no stock of Gold or jewellary and effectively all the operations came to stand still”, the ED release said.

During the course of investigation under PMLA, initially on March 23 this year, the properties in the form of Land and Building, Plant and machinery of manufacturing Unit of KGPL, which were available in the factory premises of KGPL worth Rs 48 crore were frozen by the investigating agency.

Further a provisional attachment order was issued under the provisions of Section 5(1) of PMLA, 2002 on April 24, 2018, attaching properties to the tune of Rs 143.58 crore, which were identified as proceeds of crime committed by Bhoopesh Jain along with others and as the same are involved in money laundering.
The investigation conducted further revealed that he had purchased immovable properties both in his name and in the name of the company, out of the bank borrowings, obtained by him fraudulently, which were originally meant for the manufacturing facilities of his company.

The ED has attached the following 14 immovable properties totally valued at Rs 138 crore, which are involved in money laundering and proceed of crime.
“Jain was arrested on May 25 this year under the provisions of PMLA, as he is guilty of the offence of Money Laundering and he is under judicial custody in Central Prison, Puzhal, Chennai”, the ED’s statement added.
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3 MoUs signed and 6 at advanced stage under ‘Adopt a Heritage’ scheme: Culture Ministry

19 Jun 2018 | 9:30 PM

New Delhi, June 19 (UNI) The Ministry of Culture has said that Adopt a Heritage’ Scheme of the Government is making good progress with three MoUs having already been signed and six at an advanced stage
In response to certain reports appearing recently in the media regarding ‘Adopt a Heritage’ Memorandum of Understanding (MoUs) pertaining to Red Fort being ‘put on hold’, the Secretary, Ministry of Culture, Raghvendra Singh said under ‘Adopt a Heritage’ Scheme, three MoUs have already been signed and six are at an advanced stage and 31 more Adarsh Monuments are enlisted for coverage under the scheme.

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J&K heading for Governor rule;Vohra sends report to President

19 Jun 2018 | 9:14 PM

New Delhi, June 19 (UNI) Jammu and Kashmir is headed for Governor’s rule for the eighth time with the Governor NN Vohra making a recommendation in this regard to President Ram Nath Kovind.

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India, Australia agree to further enhance counter-terrorism cooperation

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19 Jun 2018 | 8:22 PM

New Delhi, June 19 (UNI) India and Australia have agreed to further strengthen counter-terrorism cooperation through regular exchange of information, capacity building efforts, mutual legal assistance and sharing of best practices on countering violent extremism.

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Criminal on the run for over 9 years held by crime branch : Delhi Police

19 Jun 2018 | 8:17 PM

New Delhi, Jun 19(UNI) Delhi Police have nabbed a dreaded gangster and dacoit Mukesh Gujjar who carried a reward of Rs one lakh on his head, police said on tuesday.

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Opportunistic BJP-PDP alliance destroyed years of UPA’s hard work: Rahul

Opportunistic BJP-PDP alliance destroyed years of UPA’s hard work: Rahul

19 Jun 2018 | 8:15 PM

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