TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Karnataka Powerplay Spills Over To Delhi With A 'Babu vs Babu' Clash

    Karnataka Turf War Erupts in Delhi: CM vs DCM Aides Involved in Ugly Clash

    “Ireland Isn’t Safe”: Indian National Issues Warning on Safety After Mob Attack in Dublin

    “Ireland Isn’t Safe”: Indian National Issues Warning on Safety After Mob Attack in Dublin

    Kanhaiya Lal’s Son Questions Delays in Justice

    Udaipur Files Gets SC Go-Ahead, Kanhaiya Lal’s Son Asks: Where’s Justice for My Father?

    Indira Jaising's Demand to Lower Consent Age Draws BJP Flak, Govt Concern

    BJP Hits Out at Indira Jaising’s Plea to Lower Age of Consent; Centre Fears It May Fuel Trafficking

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    India Bans 25 OTT Platforms

    India Bans 25 OTT Platforms Including ULLU, ALTT & Desiflix for Obscene Content

    Union Commerce Minister Piyush Goyal and UK Trade Secretary Jonathan Reynolds formally signed the Free Trade Agreement

    India, UK Sign Historic FTA; Modi Sends Stern Message on Terror, Corruption, and Democracy Abuse

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    How to Choose the Best Bank to Open a Savings Account in 2025

    How to Choose the Best Bank to Open a Savings Account in 2025

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    ‘Rudra’ Brigades Announced: Army Chief Unveils New All-Arms Force on Kargil Vijay Diwas

    ‘Rudra’ Brigades Announced: Army Chief Unveils New All-Arms Force on Kargil Vijay Diwas

    From 1999 to Operation Sindoor: Kargil Vijay Diwas Marks India’s Unyielding Defence Legacy

    From 1999 to Operation Sindoor: Kargil Vijay Diwas Marks India’s Unyielding Defence Legacy

    India Cautions Citizens in Cambodia Amid Tensions Along Thai Border

    India Cautions its Citizens in Cambodia Amid Tensions Along Thai Border

    “Operation Sindoor Ongoing, Military Must Maintain High Readiness”: CDS General Anil Chauhan

    “Operation Sindoor Ongoing, Military Must Maintain High Readiness”: CDS General Anil Chauhan

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    China’s Failed Gamble in the Maldives: A Broader Pattern in South Asia

    China’s Failed Gamble in the Maldives: A Broader Pattern in South Asia

    Pakistan Backs Off: Islamabad Caves In on TRF After U.S. Terror Tag

    Pakistan Backs Off: Islamabad Caves In on TRF After U.S. Terror Tag

    From ‘India Out’ to Red Carpet Welcome: The Turnaround

    Modi-Muizzu Meet Yields Breakthrough Pacts, From ‘India Out’ to Red Carpet Welcome: The Turnaround

    Bail Rejected by Chattogram Sessions Court for Chinmoy Krishna Das

    Chinmoy Krishna Das Denied Bail Again Amid Growing Persecution of Hindus in Bangladesh

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    NCERT Textbook Reveals Mughal Religious Intolerance

    Ruthless Babur, Violent Akbar, Destructive Aurangzeb: NCERT Textbook Reveals Mughal Religious Intolerance

    India Built Gardens Long Before Babur Dreamt of Charbagh

    Before the Mughals: India’s Civilisation Built Gardens Long Before Babur Dreamt of Charbaghs

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    India Cautions Citizens in Cambodia Amid Tensions Along Thai Border

    India Cautions its Citizens in Cambodia Amid Tensions Along Thai Border

    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    Highest RTP Casino Games to Get Better Wins

    Highest RTP Casino Games to Get Better Wins

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Karnataka Powerplay Spills Over To Delhi With A 'Babu vs Babu' Clash

    Karnataka Turf War Erupts in Delhi: CM vs DCM Aides Involved in Ugly Clash

    “Ireland Isn’t Safe”: Indian National Issues Warning on Safety After Mob Attack in Dublin

    “Ireland Isn’t Safe”: Indian National Issues Warning on Safety After Mob Attack in Dublin

    Kanhaiya Lal’s Son Questions Delays in Justice

    Udaipur Files Gets SC Go-Ahead, Kanhaiya Lal’s Son Asks: Where’s Justice for My Father?

    Indira Jaising's Demand to Lower Consent Age Draws BJP Flak, Govt Concern

    BJP Hits Out at Indira Jaising’s Plea to Lower Age of Consent; Centre Fears It May Fuel Trafficking

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    India Bans 25 OTT Platforms

    India Bans 25 OTT Platforms Including ULLU, ALTT & Desiflix for Obscene Content

    Union Commerce Minister Piyush Goyal and UK Trade Secretary Jonathan Reynolds formally signed the Free Trade Agreement

    India, UK Sign Historic FTA; Modi Sends Stern Message on Terror, Corruption, and Democracy Abuse

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    What Can the Hindustan Zinc Share Price Tell Us About Strategic Resource Investing in India

    How to Choose the Best Bank to Open a Savings Account in 2025

    How to Choose the Best Bank to Open a Savings Account in 2025

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    ‘Rudra’ Brigades Announced: Army Chief Unveils New All-Arms Force on Kargil Vijay Diwas

    ‘Rudra’ Brigades Announced: Army Chief Unveils New All-Arms Force on Kargil Vijay Diwas

    From 1999 to Operation Sindoor: Kargil Vijay Diwas Marks India’s Unyielding Defence Legacy

    From 1999 to Operation Sindoor: Kargil Vijay Diwas Marks India’s Unyielding Defence Legacy

    India Cautions Citizens in Cambodia Amid Tensions Along Thai Border

    India Cautions its Citizens in Cambodia Amid Tensions Along Thai Border

    “Operation Sindoor Ongoing, Military Must Maintain High Readiness”: CDS General Anil Chauhan

    “Operation Sindoor Ongoing, Military Must Maintain High Readiness”: CDS General Anil Chauhan

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    China’s Failed Gamble in the Maldives: A Broader Pattern in South Asia

    China’s Failed Gamble in the Maldives: A Broader Pattern in South Asia

    Pakistan Backs Off: Islamabad Caves In on TRF After U.S. Terror Tag

    Pakistan Backs Off: Islamabad Caves In on TRF After U.S. Terror Tag

    From ‘India Out’ to Red Carpet Welcome: The Turnaround

    Modi-Muizzu Meet Yields Breakthrough Pacts, From ‘India Out’ to Red Carpet Welcome: The Turnaround

    Bail Rejected by Chattogram Sessions Court for Chinmoy Krishna Das

    Chinmoy Krishna Das Denied Bail Again Amid Growing Persecution of Hindus in Bangladesh

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    Schools in Delhi May Soon Bear Names of Local Kargil Martyrs, Says Minister on Vijay Diwas

    NCERT Textbook Reveals Mughal Religious Intolerance

    Ruthless Babur, Violent Akbar, Destructive Aurangzeb: NCERT Textbook Reveals Mughal Religious Intolerance

    India Built Gardens Long Before Babur Dreamt of Charbagh

    Before the Mughals: India’s Civilisation Built Gardens Long Before Babur Dreamt of Charbaghs

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    India Cautions Citizens in Cambodia Amid Tensions Along Thai Border

    India Cautions its Citizens in Cambodia Amid Tensions Along Thai Border

    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    Highest RTP Casino Games to Get Better Wins

    Highest RTP Casino Games to Get Better Wins

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

ED’s relentless war against black money continues, Emaar MGF MD is the latest one in the ED net

Shubhangi Sharma by Shubhangi Sharma
16 December 2018
in Analysis
Emaar mgf, ed

PC: zeebiz

Share on FacebookShare on X

The Enforcement Directorate’s onslaught against black money remains sturdy as it continues to pursue illegal assets of economic offenders under the PMLA and FEMA Acts. On Saturday, the ED has attached assets worth Rs. 10.28 Crore of Emaar MGF Managing Director Shravan Gupta and Rs. 20.87 Crore worth of assets of Dabur India Director Pradip Burman, for holding foreign assets abroad.

Burman has been found to have had deposited $3,212,000 in the Hong Kong and Shanghai Banking Corporation (HSBC) account of the Zurich Branch in Switzerland, leading to being booked under the FEMA for failing to produce evidence that the amount was ever remitted to India.

RelatedPosts

Karnataka Turf War Erupts in Delhi: CM vs DCM Aides Involved in Ugly Clash

Why Did ED Arrest Bhupesh Baghel’s Son? A Detailed Look at the Chhattisgarh Liquor Scam

Inside Conversion Mastermind Chhangur Baba’s ‘Red Diary’: Atiq Ahmed, Foreign Funds and Election Links Under Lens

Load More

The agency also revealed that Shravan Gupta of the Emaar MGF had parked $1,540,650 in HSBC, Switzerland in contravention of the Foreign Exchange Management Act (FEMA) as the amount has not entered India. Shravan Gupta is a relative of Kanishka Singh, who is in turn a close aide of Congress President Rahul Gandhi.

Emaar MGF is an infrastructure developer that caught eyeballs for its shoddy work at building the Commonwealth Games Village in Delhi. In a report in 2010, Delhi Development Authority (DDA) said EMAAR-MGF did not meet several project milestones and failed to make payments to government agencies. The report also said there were many defects in the construction and these weren’t rectified by the builder. During the Commonwealth Games held in Delhi in 2010, visitors from different countries complained profusely about the filthy conditions in the Village. The Delhi Development Authority (DDA) confiscated the bank guarantee of Rs 183 crore given by Commonwealth Games Village builder EMAAR-MGF. A CAG report had flagged a bailout package of Rs 766 crore by Delhi Development Authority (DDA) to Emaar MGF in the construction of nearly 1200 flats in Commonwealth Games Village.

In 2013, The Enforcement Directorate (ED) had slapped a Rs. 8,600-crore penalty notice against the real estate group for violation of FEMA rules. ED had found that funds to the tune of about Rs 8,600 crore were received by this company and its four subsidiaries from Dubai, Cyprus, Mauritius and other foreign countries under the foreign direct investment (FDI) scheme of the RBI since April 2005. These funds were in violation of the FDI scheme, which had allowed their use only for construction development projects, but were actually used to purchase agricultural land across the country.

BJP MP Kirit Somaiya, in 2016, had urged the CBI and ED to investigate Kanishka Singh, close relative of Shravan Gupta and a close aide of the then Congress Vice president and now Congress President Rahul Gandhi, for his proximity to the MGF group. Somaiya had also alleged that Congress president Rahul Gandhi had conducted a suspicious commercial transaction with Emaar MGF. The company had admitted that two shops were bought by Rahul Gandhi from the company but it claimed that the sale was at market rates and rejected allegations that they were leased or bought back by the company.

Interestingly, Guido Ralph Haschke, one of the middlemem in the Rs 3,600-crore Agusta Westland VVIP chopper scam, had been on the board of directors in Emaar MGF Land Ltd. Haschke had also been arrested for his involvement in the CWG scam. “It cannot be a coincidence that Guido Haschke, an alleged middleman in the chopper deal, is common in both the scams and that he is linked with Christian Michel, an accused in the VVIP chopper scam,” Somaiya had said in 2016.

The ED has also been pursuing Rahul Gandhi’s brother-in-law Robert Vadra for a series of questionable land deals in Haryana and in Bikaner made by his company, Sky Light Hospitality Private Limited, which might have him booked under the Prevention of Money Laundering Act. The agency recently conducted raids on its premises. ED has also attached property worth 1.16 Crore of Karti Chidambaram in connection with the Aircel Maxis case.

The ED has sped up its operations and has been projecting a phenomenal performance under the FEMA and PMLA, in the 4.5 years of the Modi government, which has been bold on its stance against money launderers and other economic offenders. In this pursuit a number of Congress Party connections are also unraveling, while the party cries hoarse and resorts to threatening ED officials.

Tags: CongressEDEmaar MGFKanishka Singh
Share1214TweetSend
Previous Post

Piyush Goyal dedicates India’s first Railway University to the nation

Next Post

Debt ridden farmers are committing suicide in Karnataka

Related Posts

With Stalin Hospitalised, Is DMK Headed for a Family Showdown?
Analysis

Heir vs Heir: Power Struggle Likely to Loom in DMK as Stalin Falls Unwell

22 July 2025

Tamil Nadu Chief Minister and DMK President M.K. Stalin's sudden hospitalisation due to "mild giddiness" has not only raised...

LeT’s Muridke Exit: Bahawalpur the New Hub
Analysis

Pakistan’s Terror Map Shifts as Lashkar-e-Taiba Flees 400 km South from Muridke to Bahawalpur After Op Sindoor

19 July 2025

After decades of hiding behind the Pakistani Army’s protection, Lashkar-e-Taiba is on the run. Rattled by the sheer scale...

Lalu Yadav Family Feud May Derail RJD as Discontent Grows Within
Analysis

Bihar Polls: Lalu Yadav’s Family Feud May Derail RJD’s Plans as Discontent Grows Within

15 July 2025

The Rashtriya Janata Dal, once a dominant force in Bihar politics, appears to be grappling with growing internal discord,...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Will India Buy F-35s from US or Build Su-57s with Russia? IAF’s Big Push Explained

Will India Buy F-35s from US or Build Su-57s with Russia? IAF’s Big Push Explained

00:08:32

PM Modi’s Blueprint for Tamil Nadu Begins at Rajendra Chola’s Capital Gangaikonda Cholapuram

00:07:57

One Woman. Two Brothers. Jodidaran- A Living Example of Polyandry in Himachal's Hatti Tribe.

00:05:32

Lashkar-e-Taiba on the Run from Muridke: Is Bahawalpur Becoming Pakistan’s New Terror Capital?

00:07:26

Britain’s Million-Dollar Bird Finally Takes Off!

00:06:43
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY. FOR MORE QUERIES AND NEWS, CONTACT US AT info@mashablepartners.com


©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited