ED summons Google & Meta officials for questioning under PMLA Act
ED summoned representatives from both companies to appear at its Delhi headquarters on July 21 2025. The Enforcement Directorate is a law enforcement agency of the Government of India. It is a watchdog of economic laws and combat financial crimes.
The Enforcement Directorate alleged that both Google and Meta platforms played an important role in promoting the betting apps, which are under observation for financial crimes.
The Enforcement Directorate is going to question these two tech giants due to the accusation of hawala transactions and violations of the PMLA (Prevention of Money Laundering) Act. The PMLA Act is enacted by the Indian Government for preventing money laundering activities.
Some apps, including Junglee Rummy, A23, JeetWin, Parimatch, and Lotus365, are already under the scrutiny of the ED. The summon orders for Google and Meta make another mark in the agency's observation on digital platforms.
UNI SAS BM
More News
19 Jul 2025 | 11:28 PM
Bhubaneswar, July 19 (UNI) Odisha has handled its largest ever imported coking coal parcel, with a massive 1,86,782 metric tonnes (MT) received at Adani-operated Dhamra Port, the port officials said today.
see more..
ED summons Google & Meta officials for questioning under PMLA Act
19 Jul 2025 | 6:05 PM
New Delhi, July 19 (UNI) The ED or Enforcement Directorate issued a legal notice to tech giants Meta and Google in an illegal betting app probe.
see more..
Reliance Industries Ltd Posts Q1 FY26 Consolidated Profit Of Rs 26,994 Crore
19 Jul 2025 | 5:51 PM
Mumbai, July 19 (UNI) Reliance Industries Ltd (RIL) officially announced that it has posted a consolidated net profit of Rs 26,994 crore for the first quarter which ended in June 2025 (Q1)
of the financial year 2026 (FY26), marking a sharp 78.3% rise from Rs 15,138 crore in the
same period last year.
see more..
DPE organised a workshop for adoption of Industry 4 0 in CPSEs
19 Jul 2025 | 4:59 PM
New Delhi, July 19 (UNI) Department of Public Enterprises (DPE), Ministry of Finance, Government of India organized a day-long workshop on Industry 4.0 here.
see more..
Sund Fin hosts Customer Round Table in Salem
19 Jul 2025 | 4:33 PM
Salem, July 19 (UNI) In a rare and heartfelt gathering that transcended conventional industry events, Sundaram Finance hosted a special Customer Round Table here today,
The event brought together a select group of its most longstanding customers — along with the next generation of their families — for an evening of reflection, learning, and emotional connection.
see more..
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
16 minutes ago
- First Post
Indian Army takes delivery of first batch of Apache attack helicopters from Boeing
The AH-64E Apache is equipped with cutting-edge avionics, weaponry, and sensor systems designed for high-intensity battlefield roles. read more The Apache attack helicopter is well-known for its survivability, and is often called 'tank in the air'. Representative image/Reuters Boeing on Tuesday delivered three AH-64E Apache attack helicopters to the Indian Army, marking a significant boost to its combat aviation capabilities. The delivery is part of a contract for six helicopters approved by the Defence Ministry in 2017. 'These state-of-the-art platforms will bolster the operational capabilities of the Indian Army significantly,' the Army said in a social media post, welcoming the addition of the advanced multi-role combat helicopters to its fleet. STORY CONTINUES BELOW THIS AD #Apache for Indian Army Milestone moment for Indian Army as the first batch of Apache helicopters for Army Aviation arrive today in India. These state-of-the-art platforms will bolster the operational capabilities of the #IndianArmy significantly.#YearofTechAbsorption… — ADG PI - INDIAN ARMY (@adgpi) July 22, 2025 The Army's acquisition of the Apache fleet follows the Indian Air Force's (IAF) earlier procurement of 22 AH-64E helicopters under a multi-billion dollar deal signed in 2015. Boeing completed deliveries for the IAF in 2020. The current Army-specific order was cleared in 2017 at a cost of Rs 4,168 crore, and the deliveries were scheduled to begin in 2024. The remaining three helicopters are expected to arrive later this year. Once inducted, the Apaches will provide the Indian Army with enhanced offensive capability in high-altitude and armoured warfare scenarios. The AH-64E Apache, originally developed by Hughes Helicopters in the 1970s for the US Army to replace the AH-1 Cobra, is equipped with cutting-edge avionics, weaponry, and sensor systems designed for high-intensity battlefield roles. The twin-engine, tandem-seat attack helicopter is widely regarded as one of the deadliest and most survivable combat helicopters worldwide, thanks to its combination of firepower, technology, and battlefield adaptability. STORY CONTINUES BELOW THIS AD The chopper is designed primarily for anti-armour and close air support. Apaches have proven highly effective in conflicts such as the Gulf War, Afghanistan, Iraq, and more. Their presence in militaries like India's is seen as a major force multiplier, providing critical 'tank in the air' capability against armored threats. With inputs from agencies
&w=3840&q=100)
Business Standard
16 minutes ago
- Business Standard
Public sector bank NPAs drop to 2.58% from 9.11% in 4 yrs: Finance ministry
The gross non-performing assets (NPAs) of public sector banks (PSBs) have shown a consistent decline over the past five financial years. According to government data, gross NPAs reduced from 9.11 per cent in March 2021 to 2.58 per cent in March 2025. In a statement issued on Tuesday, the Ministry of Finance said, "Both the government and the Reserve Bank of India (RBI) have introduced several measures to tackle the issue of rising NPAs and improve recovery rates." Listing out the measures, the statement added, "A fundamental shift in credit discipline through the Insolvency and Bankruptcy Code (IBC), which has reshaped the borrower-creditor relationship. This law has stripped defaulting promoters of control over their companies and barred wilful defaulters from participating in the resolution process. Additionally, personal guarantors of corporate debtors are now covered under the IBC." It further said, "Amendments to existing laws such as the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 and the Recovery of Debts and Bankruptcy Act to make them more effective in recovery proceedings." Focus on high-value cases The government also increased the financial limit for cases handled by Debt Recovery Tribunals (DRTs) from ₹10 lakh to ₹20 lakh, as per the finance ministry. This allows DRTs to concentrate on higher-value accounts, thereby improving recovery for banks and financial institutions. Besides, public sector banks have established dedicated verticals and branches for stressed asset management. These specialised units focus on active monitoring and targeted recovery of NPAs. Measures like deploying business correspondents and the "Feet-on-Street" model have further supported this effort. RBI's prudential framework To ensure early detection and resolution of stressed assets, RBI issued a Prudential Framework, which requires timely recognition, reporting, and resolution. It also encourages banks to act swiftly by offering incentives for early implementation of resolution plans. Banks follow strict procedures for property valuation according to RBI guidelines. These include: Having a board-approved policy to ensure valuations are conducted by independent, qualified valuers. Creating a panel of professional valuers with the required credentials and maintaining a register of these valuers. Conducting property valuations before loan sanctions and again before selling assets under SARFAESI. "For properties worth ₹50 crore or more, banks must obtain at least two independent valuation reports. After taking possession of an asset from a defaulting borrower, valuation is done again before disposal," said the statement. RBI also encourages the use of e-auctions for the sale of such properties to attract more bidders and achieve better price discovery.
Time of India
18 minutes ago
- Time of India
Schloss Bangalore Q1 results: Leela Palace operator reports Rs 9 crore PAT vs Rs 75 crore YoY loss
Schloss Bangalore , the operator of The Leela Palaces, Hotels and Resorts, reported a consolidated net profit of Rs 9 crore in Q1 versus a loss of Rs 75 crore in the year ago period. The company's revenue grew 20% year-on-year at Rs 275 crore against Rs 228 crore reported in the year-ago period. The profit after tax (PAT) fell 92% on a sequential basis versus Rs 117 crore reported in Q4FY25. The topline fell 35% compared to Rs 425 crore posted in the January-March quarter of FY25. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Degree Data Science MCA Leadership Digital Marketing Data Analytics Project Management Product Management others Management PGDM Technology Cybersecurity Data Science Operations Management Finance CXO Others Healthcare Artificial Intelligence Design Thinking MBA healthcare Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details The total revenue in the reported quarter stood at Rs 301 crore, witnessing a 25% YoY jump. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 128 crore, gaining 63% on a YoY basis while the EBITDA margin was reported at 42.5%, up by 980 bps YoY. Also Read: Paytm Q1 Results: Co swings to black, logs Rs 122 crore profit vs YoY loss; revenue jumps 28% Live Events Operating revenue increased 17% YoY while operating EBITDA grew 39% reflecting sustained customer preference for The Leela's distinctive luxury experience and strong pricing power, the company filing to the exchanges said. The occupancy stood at 63.6% in the April-June quarter of FY26, which saw an uptick of 4% over a year ago period. The company saw improvement in cost ratios driven by continued focus on operational efficiencies in staffing, F&B, and utilities. Growth was further supported by a rise in bookings through direct channels - especially at resort locations - along with strong demand in MICE and F&B verticals "Our owned hotels across all markets posted double-digit RevPAR growth underscoring the brand's leadership in India's luxury hospitality segment," the company statement said. Also Read: ZEE Q1 Results: Cons PAT jumps 22% YoY to Rs 144 crore, but revenue falls 14% Commenting on the results, CEO Anuraag Bhatnagar said that he was pleased with the first-quarter performance. "The performance underscores the strength of India's luxury travel market and the demand for The Leela's distinctive experiential offerings. We are entering a defining phase of growth with 8 hotels under development, including our strategic expansion into Mumbai through a landmark mixed use development in BKC featuring a 250-key ultra-luxury hotel, complementing the 63 high end serviced apartments under development near Mumbai International Airport,' he said.
