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The Hindu
26 minutes ago
- The Hindu
‘Open the Yellow Line': Public frustration peaks over constant deferral of metro launch
Public frustration has boiled over, with citizens and even elected representatives openly expressing their displeasure as one of Namma Metro's most crucial yet long-delayed projects, the Yellow Line, faces another postponement. The much-anticipated corridor, which links R.V. Road with Bommasandra via the tech hub of Electronics City, remains unopened despite civil work being largely completed. This stretch holds strategic importance for Bengaluru's southern zones, especially for thousands of IT professionals commuting daily to and from Electronics City. Yet, due to multiple delays in rolling out trains and final safety clearances, the line has failed to become operational, inviting criticism and protest. Lack of sufficient trains The Bangalore Metro Rail Corporation Limited (BMRCL) has repeatedly shifted deadlines, resulting in a total erosion of public trust. 'We don't believe any timeline they give anymore. They have moved the goalpost so many times that people have stopped making plans around it. It's disappointing how such an important transport project can be delayed without accountability,' said Ashwin Hegde, a resident of Bomanahalli. Poornima Murthy, a software engineer working in Electronics City, said, 'I was genuinely excited about using the Yellow Line since the BTM Layout station is just a five-minute walk from my home. I have been waiting for years, but nothing has happened. It's a reflection of how poorly our systems are functioning.' The primary roadblock, according to BMRCL, is the lack of sufficient trains to operate the corridor. Officials have said that they are aiming to obtain clearance from the Commissioner of Metro Rail Safety (CMRS) by July mid with the aim of launching commercial operations by the end of July or the first week of August, using only three available trains to begin with. Coach supply contract The source of the delay lies in the coach supply contract awarded to Chinese firm CRRC in 2019. The ₹1,578-crore contract required CRRC to supply 216 coaches and establish a manufacturing unit in India. However, the company failed to meet this condition, severely disrupting the project timeline. BMRCL reportedly issued several notices to CRRC and even considered invoking a ₹372-crore bank guarantee due to non-compliance. To rescue from this situation, CRRC partnered with Titagarh Rail Systems Limited, based in Kolkata. While this collaboration helped resume deliveries, the backlog and logistical challenges continued to slow progress. As a result, only two train sets were available for trial runs, which commenced on March 7, 2024, according to officials. Tejasvi Surya to protest Meanwhile, the delays have prompted Bengaluru South MP Tejasvi Surya to call for public protest. 'Join in large numbers at 9.30 a.m. on Saturday at Lalbagh Main Gate as we march to the BMRCL Head Office in Shantinagar and demand. #YellowLineOpenMadi,' Surya posted on X. He further added, 'Plagued by years of delay, the all-important Yellow Line between R.V. Road and Bommasandra is still not operational despite BMRCL missing multiple deadlines. Bengalureans continue to face daily traffic snarls, especially at Silk Board junction and other parts of the IT/BT corridor this line passes through. Our patience has worn thin. We feel taken for granted. This is not acceptable. It's time we speak to BMRCL in one voice.'
Hans India
41 minutes ago
- Hans India
ED arrests Delhi-based forex supplier in case linked to Rs 903 crore Chinese App fraud
New Delhi: The ED arrested a foreign currency businessman and one of the masterminds in a Chinese App investment fraud case involving over Rs 903 crore and seized incriminating documents during searches at his five premises in Delhi, an official said on Friday. Rohit Vij, the mastermind in the conversion of proceeds of crime into forex, was arrested on June 30 for his links to a fake investment app named 'LOXAM', claiming to be related to a reputed French MNC Group of the same name. The business entities and associates of Vij were searched under the provisions of PMLA, 2002, said an official. After arresting Vij, the ED produced him in a Special PMLA Court, which sent him to the probe agency's custody for five days. The federal agency had initiated an investigation against Vij and his associates on the basis of the FIR registered by Cyber Crime, Hyderabad. It was alleged that some Chinese individuals, in association with Indians, have defrauded various investors by luring and offering unrealistically high returns on investments through their fake investment app. ED investigation revealed that the tainted money was collected in the bank account of a shell entity, M/s Xindai Technologies Pvt Ltd, which was formed in the name of an Indian person, on the instructions of a Chinese national, namely Jack. The probe agency said Jack took the Internet Banking credentials and routed the funds collected through 38 mule accounts, which were subsequently converted into foreign currencies with the help of Vij and his associates through shell money changer entities like Ranjan Money Corp Pvt Ltd and KDS Forex Pvt Ltd, controlled by them, based in Delhi. Vij and his associates converted the tainted amount into foreign currencies, mostly in US dollars and UAE Dirham, through multiple Authorised Money Changers (AMCs)/Full Fledged Money Changers (FFMCs), and gave them to a Chinese fraudster through various middlemen through hawala channels. An amount totalling Rs 171.47 crore was laundered through M/s Xindai Technologies Pvt Ltd and subsequently converted into forex through M/s Ranjan Moneycorp Pvt Ltd and M/s KDS Forex Pvt Ltd. However, from the analysis of bank accounts of M/s Ranjan Money Corp and M/s KDS Forex Pvt Ltd, it was found that within a period of seven months, these entities, under the control and operation of Rohit Vij, converted Rs 903 crore of similar tainted money generated by Chinese perpetrators of fraud and other accused persons.
Mint
an hour ago
- Mint
Chinese investment app fraud busted: ED nabs Delhi man in ₹900-crore scam — here's what happened
A Delhi-based man has been arrested in connection with a money laundering case linked to an over ₹ 900-crore investment app "fraud" which was allegedly handled by some Chinese citizens, the Enforcement Directorate (ED) said on Friday. Rohit Vij was apprehended on June 30 following searches conducted in the national capital, the agency said in a statement. The ED case, filed under the Prevention of Money Laundering Act (PMLA), originates from a 2022 FIR registered by the Hyderabad police's cybercrime station. The police complaint alleged that certain Chinese persons, along with some Indians, have "defrauded" investors by offering "unrealistically" high returns on investments. The investments were made through a fake investment app named 'LOXAM,' which falsely claimed affiliation with a reputed French multinational corporation by the same name. The ED investigation revealed that the "tainted" funds were collected in the bank account of a shell entity named Xindai Technologies Pvt Ltd. This company was established in the name of an Indian, purportedly under the instructions of a Chinese national named Jack. Jack then allegedly obtained internet banking credentials of this account and routed the funds through 38 mule accounts The crucial part of the money laundering operation involved Rohit Vij and his associates. The ED alleges that they converted the tainted funds into foreign currencies like US dollars and UAE dirhams, through shell money changer entities like Ranjan Money Corp Pvt Ltd and KDS Forex Pvt Ltd in Delhi. These converted foreign currencies were then provided to the "Chinese perpetrators" through illegal "hawala" channels. An amount of ₹ 171.47 crore was laundered through Xindai Technologies Pvt Ltd and later converted into forex through the money changer companies, the ED said in a statement. "However, from the analysis of bank accounts of Ranjan Money Corp. and KDS Forex Pvt. Ltd., it was found that within a period of seven months, these entities, under the control and operation of Rohit Vij, converted ₹ 903 crore of tainted money generated by Chinese perpetrators and other accused persons," it said.
