Mehul Choksi (File Photo : IANS)

Choksi siphoned funds received as LOUs to overseas firms

Mumbai :The Enforcement Directorate (ED) on Thursday said that Gitanjali Group chief Mehul Choksi siphoned off funds received as LOUs from banks to his overseas companies through alleged foreign suppliers. “Funds of LOUs (Letter of Undertaking) obtained fraudulently were siphoned off through their alleged overseas suppliers namely — 4C’s Diamonds Distributors in Hong Kong, Shanyang Gong […]

ED attaches Rotomac properties worth Rs 177 cr

New Delhi :  The Enforcement Directorate (ED) on Tuesday said it has attached Vikram Kothari owned Kanpur-based Rotomac Global’s properties worth Rs 177 crore in connection with a money laundering case involving an alleged bank fraud amounting to Rs 3,695 crore. The attached properties of the company and those of its directors are located in […]