ED raids Kolkata jewellery house for money laundering

first_imgKolkata: The Enforcement Directorate (ED) on Thursday raided various locations and office premises of Shree Ganesh Jewellery House here in connection with a Rs 2,672 crore money laundering case, an official said. “Our officials have started search operations at 11 locations including Shree Ganesh’s office premises and residences of its senior officials in the city,” an ED official said. The agency has been investigating the case under the Foreign Exchange Management Act, 1999 and under the Prevention of Money Laundering Act, 2002. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killed Based on a complaint of defrauding a consortium of banks led by the State Bank of India (SBI) for non-payment of loan to the tune of Rs 2,672 crore, the Central Bureau of Investigation (CBI) had earlier commenced an investigation against the company. Subsequently, the Directorate of Revenue Intelligence (DRI) had, in June 2018, arrested Nilesh Parekh, the promoter of the company in the alleged diversion of primary gold of over 1,700 kg. According to DRI officials, the firm having several units in Manikanchan Special Economic Zone (MKSEZ), Kolkata, was allegedly involved in diversion of gold imported duty free on the strength of being a nominated agency and also in its capacity as an SEZ unit. Also Read – Bose & Gandhi: More similar than apart, says Sugata Bose “Currently, Parekh is on an interim bail and there was restriction on his movement outside of the city. We are in process of finalising a charge sheet against him, which will be filed soon,” a DRI official told IANS. During investigations, the agency found the accused to “be actively involved in the fraud of diversion of primary gold of over 1,700 kg among other violations like non-realization of remittance on account of export of gems and Jewelleries to the tune of Rs 7,500 crore” to the several dummy and shell companies at Singapore, Hong Kong and Dubai.last_img read more

Instagram Ruffles Feathers With New SnapchatLike App Bolt

first_img Register Now » 2 min read This week, Instagram rolled out Bolt, a new app that lets users record and send quick, unedited photo or video messages by tapping on a friend’s photo. The message then disappears when you swipe your screen. The app is currently only available to users in New Zealand, Singapore and South Africa. Instagram told The Verge that since 65 percent of Instagram users are based internationally, “we are starting with a handful of countries to make sure we can scale the experience.”Bolt is only the most recent offering of Snapchat-esque apps, a crowded slate that includes Wickr, a “top-secret messenger” that recently raised $30 million; Slingshot, an app created by Facebook that has a unique “I-send-you-send” stipulation; and the Berlin-based one-click messaging app TapTalk. Related: Want Your Brand Associated With Positivity? Snap a Pic, Ditch the Tweet.TapTalk in particular seems to be a model that Bolt is aping, and in an interview with TechCrunch published yesterday, TapTalk CEO Onno Faber said “we know we have a great product, so clones don’t come as a surprise.”Also not particularly thrilled about Instagram’s entry into the market is a free phone-calling app called Bolt. On Monday, Bolt CEO Andrew Benton posted an open letter urging Instagram to reconsider using the name Bolt, saying it’s already causing confusion for their customers.”It wasn’t too long ago that you were the little guy,” Benton wrote. “I know you haven’t forgotten how hard it is to build something from nothing. And not just technology, but a brand and distinct identity for yourself. Imagine how it would have felt if Google or Apple or Facebook had launched a photo-sharing app called Instagram in 2011.”Related: This Bar Wants You to Apply for a Job Via Snapchat Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goalscenter_img Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. July 30, 2014last_img read more