The Enforcement Directorate (ED), Hyderabad Zonal Office, has arrested Nowhera Shaik, founder of Heera Group of companies, in Gurugram for allegedly defrauding over 1.7 lakh investors of Rs 3,000 crore.
The Enforcement Directorate has attached Reliance Group chairman Anil Ambani’s Mumbai residence ‘Abode’, valued at Rs 3,716 crore, under the PMLA in connection with an alleged bank fraud case linked to Reliance Communications
The Enforcement Directorate secured a 13-day custodial remand of Al Falah group chairperson Jawad Ahmed Siddiqui, accused of generating Rs 415 crore through false accreditation claims. The ED said he posed a flight risk, with the case tied to the November 10 Delhi blast probe
According to sources, Reliance Group Chairman sought to deny any involvement in the case, maintaining that all the financial decisions were taken by the internal board of his companies
The federal probe agency has recently filed a criminal case under the Prevention of Money Laundering Act (PMLA) to investigate the said loot from Canada's Pearson International Airport in April, 2023
In its last year's verdict, Supreme Court had upheld the ED's powers of arrest, attachment of property involved in money laundering, search and seizure under the PMLA.
The ED initiated a probe under the Prevention of Money Laundering Act (PMLA) based on an FIR registered by the CBI, Goa under various Sections of the IPC and the Prevention of Corruption Act.
The ED had arrested Deepak Kochhar in September 2020 after it filed a criminal case for money laundering based on an FIR registered by the CBI against the Kochhars, Dhoot and others.
