Enforcement Directorate – Central News Hub

ED conducts raids at Indiabulls Housing in Delhi, Mumbai

The Delhi High Court had issued an order barring the ED from taking coercive action against the company….reports Asian Lite News

The Enforcement Directorate (ED) on Monday conducted raids at the offices of India Bulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021.

The ED had earlier recorded the statement of a Pune based businessman who deals in real estate, in this connection.

The ED officials held a meeting on Sunday to plan Monday’s raid. Separate teams were formed to recover a few incriminating documents.

Earlier, a case was lodged against the company and its promoter at Palghar, Maharashtra. It had been alleged in the FIR that the real estate company first took loan from India Bulls and invested in India Bulls housing shares. The company had increased the share value and the money were later siphoned off to other entities.

The Delhi High Court had issued an order barring the ED from taking coercive action against the company.

Further details are awaited.

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ED quizzes Aishwarya Rai for over 5 hours

The ED had lodged a case under FEMA after the Panama Papers leak showed how companies were set up in offshore islands to avoid taxes. Aishwarya and others have been named in the case…reports Asian Lite News.

Bollywood actress Aishwarya Rai was on Monday quizzed for more than five hours by the officials of the Enforcement Directorate (ED) at its Jam Nagar office here in connection with the Panama Papers expose for allegedly violating FEMA (Foreign Exchange Management Act).

The expose showed that several prominent personalities in India had floated companies in tax havens.

A team of six officals, including a lady official, recorded her statement. A source said that Aishwarya was asked as many as 50 questions regarding a firm reportedly incorporated by her father-in-law and Bollywood icon Amitabh Bachchan. The firm was incorporated in British Virgin Island. She was first the director of the firm and then became a shareholder.

This was the third time that the actress was summoned. However, she didn’t join the probe on the earlier occasions.

“We had summoned her for December 20. Abiding by the third summon, she joined the probe,” said an ED official.

The ED had lodged a case under FEMA after the Panama Papers leak showed how companies were set up in offshore islands to avoid taxes. Aishwarya and others have been named in the case.

In 2016, the Panama Papers leak case came to the light in which Aishwarya and Bachchan family members were named. The names of Amitabh Bachchan and Abhishek Bachchan also cropped up in the case.

Aishwarya Rai Bacchan Leaves ED office post questioning in Panama Paper leaks over alleged forex violation , in New Delhi,Dec 20, 2021 (photo:Pallav Paliwal)

In May 2005, a company was reportedly incorporated at British Virgin Island in which Aishwarya and other members of the Bachchan family were directors. In June 2005, her post was changed and she became a shareholder in the company.

After three years, the company became inactive. Later, after her name cropped up in the Panama Papers leak, an SIT was formed to probe the matter.

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