Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Two Former Executives of IL&FS Arrested by ED in Money Laundering Case

The central agency had filed a money laundering case in February this year and had twice raided a number of former executives in order to obtain additional evidence.

PTI

Updated:June 19, 2019, 10:04 PM IST
facebookTwitterskypewhatsapp
Two Former Executives of IL&FS  Arrested by ED in Money Laundering Case
A logo of IL&FS (Infrastructure Leasing and Financial Services Ltd.) is seen on a building at its headquarters in Mumbai.
Loading...

New Delhi: The Enforcement Directorate on Wednesday arrested two former executives in connection with its money laundering probe in the IL&FS alleged financial irregularities case, officials said.

They said former joint MD of the company Arun K Saha and MD of transportation network K Ramchand were arrested late evening in Mumbai under the Prevention of Money Laundering Act (PMLA).

These are the first arrests in this case by the Enforcement Directorate.

The two will he produced before a special PMLA court in Mumbai on Thursday, they said.

The central agency had filed a money laundering case in February this year and had twice raided a number of former executives in order to obtain additional evidence.

The debt crisis at the infrastructure lender came to light following a series of defaults by its group companies beginning September, 2018.

IL&FShas defaulted on payment of loans to SIDBI and along with its subsidiaries has a combined debt of over Rs 91,000 crore.

The ED's case is based on an FIR filed before the Economic Offences Wing (EOW) of the Delhi Police in December last year.

Ashish Begwani, Director of Enso Infrastructures (P) Ltd, had filed the case against officials of IL&FS Rail Ltd for allegedly causing Rs 70 crore loss to his company by fraudulent means.

Begwani had alleged in his complaint that in August 2010, he was approached by two officials of IL&FS Transportation Networks Ltd and he had invested Rs 170 crore in IL&FS Rail Ltd, a special purpose vehicle for Gurugram Metro project, in order to take its 15 per cent shares.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
RBL Bank 500.40 -13.69
Yes Bank 83.25 -2.97
Bajaj Finance 3,323.10 -4.17
ACC 1,543.65 -1.50
Reliance 1,249.00 -1.02
Company Price Change %Gain
Biocon 240.35 -8.63
Yes Bank 83.25 -2.97
RBL Bank 500.35 -13.71
ICICI Bank 410.10 -2.05
HDFC AMC 2,316.85 6.76
Top Gainers
Company Price Change %Gain
NTPC 129.90 2.24
Titan Company 1,091.05 1.02
Coal India 221.90 0.73
TCS 2,076.95 0.53
BPCL 351.00 0.50
Company Price Change %Gain
NTPC 129.85 2.20
Coal India 221.95 0.68
TCS 2,076.95 0.55
ONGC 144.10 0.42
Power Grid Corp 205.90 0.27
Top Losers
Company Price Change %Gain
M&M 571.30 -4.37
Bajaj Finance 3,323.10 -4.17
Eicher Motors 17,664.00 -4.03
Hero Motocorp 2,387.40 -3.71
Tata Motors 154.85 -3.67
Company Price Change %Gain
M&M 571.35 -4.36
Bajaj Finance 3,322.05 -4.16
Tata Motors 154.80 -3.73
Hero Motocorp 2,387.65 -3.71
IndusInd Bank 1,421.45 -3.40

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results