NewsClick case: Delhi HC grants pre-arrest bail to Prabir Purkayastha
Justice Neena Bansal Krishna also granted him a similar relief in the money laundering case of the Enforcement Directorate (ED).
The court pronounced the order on Purkayastha's pleas.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
16 minutes ago
- Hans India
Anil Ambani Group on ED radar
Mumbai: The Enforcement Directorate on Thursday conducted multiple raids as part of an alleged Rs3,000 crore worth bank loan fraud linked money laundering case against the companies of Reliance Group chairman Anil Ambani, official sources said. More than 35 premises in Mumbai belonging to 50 companies and 25 persons are being searched under the Prevention of Money Laundering Act (PMLA), they said. The investigation is being carried out by a Delhi-based investigation unit of the sources said they are probing allegations of illegal loan diversion of around Rs3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017 and 2019. Two group companies, Reliance Power and Reliance Infrastructure, said in separate but identical regulatory filings that the ED action has had 'absolutely no impact' on their business operations, financial performance, shareholders, employees, or any other stakeholders. 'The media reports appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old,' the companies said. The ED, the sources said, has found that just before the loan was granted, Yes Bank promoters 'received' money in their federal probe agency is investigating this nexus of 'bribe' and the loan. Sources said the ED is also probing allegations of 'gross violations' in Yes Bank loan approvals to Anil Ambani Group companies, including charges like back-dated credit approval memorandums (CAMs), investments proposed without any due diligence/credit analysis in violation of banks credit policy, the sources said. The loans are alleged to have been 'diverted' to many group companies and shell companies by the entities involved.
News18
39 minutes ago
- News18
PM Modi Maldives Visit LIVE: PM To Attend Independence Day Celebrations In Malé; MoUs & Key Deals On Agenda
Live now Prime Minister Narendra Modi in Maldives Today Live Updates: It is PM Modi's first visit to the island nation ever since the India-Maldives ties soured. Prime Minister Narendra Modi has embarked on a two-day visit to the Maldives, concluding his visit to the United Kingdom. PM Modi's visit to the Maldives is significant, as it marks his first since bilateral ties were strained by the 'India Out' campaign led by some Maldivian leaders and President Muizzu's pro-China tilt. Notably, President Muizzu invited PM Modi to attend he 60th National Day celebrations as a chief guest. He is also visiting on the 60th anniversary of India-Maldives diplomatic relations. 'A landmark visit to the UK concludes, elevating the India-UK trade and economic ties to new heights. PM Narendra Modi emplanes for the second leg of his tour—Maldives,' the Ministry of External Affairs stated on X. This visit is not only important to strengthen bilateral cooperation, but it also reaffirms India's commitment to its 'Neighbourhood First' policy in the Indian Ocean region.
Economic Times
an hour ago
- Economic Times
Yes Bank general counsel Sanjay Nambiar resigns
Yes Bank (Representational image) Mumbai: Sanjay Nambiar, the group general counsel of Yes Bank, has resigned and is currently serving his gardening leave. Yes Bank, under its erstwhile management, has been part of a long-drawn investigation by the Enforcement Directorate (ED) into a loan fraud case involving firms linked to Anil Ambani."It is true that Sanjay Nambiar has resigned," an official spokesperson for the lender confirmed Thursday in an emailed response to ET's specific queries. Nambiar, who was general counsel at Yes Bank for nearly 15 years, had previously worked at ICICI Bank for over four years, as per his LinkedIn to the ED, preliminary investigations showed that loans worth around ₹3,000 crore, sanctioned by Yes Bank between 2017 and 2019, were allegedly diverted to shell firms and other group entities. One key aspect of the ED probe involves loans sanctioned by Yes Bank, Canara Bank and Bank of Baroda to various ADAG group entities, and a related ₹2,850-crore investment made by Reliance Mutual Fund in Yes Bank's AT-1 bonds. The ED suspects these transactions may have involved quid pro quo AT-1 bonds considered quasi-equity in nature, were written off by the RBI after Mint Road had ordered the board of the private lender be superseded in March 2020. A consortium of lenders then bailed out Yes Bank from the brink of collapse.
