A Delhi court has summoned the Enforcement Directorate (ED) Director Rahul Navin over the central agency's failure to provide legible copies of documents (evidence) to accused in a case under Prevention of Money Laundering Act (PMLA)..Additional Sessions Judge Aparna Swami passed the order after ED Deputy Director Dipin Goyal told the Court that copies supplied to the accused were the best possible copies available with the department."In view of the submissions and the delay in the matter with regard to providing of the legible copies as seen from the order sheets dated 28.03.2024, this court deems it appropriate to direct the Director of ED alongwith the Investigating Officer to appear in the court and give in writing the status of documents to be provided to the accused persons," the judge ordered on January 25.The matter will next be considered on March 26..The development took place in a prosecution complaint filed by the ED against Gajendra Nagpal, his wife Sonia Nagpal, Ram Mohan Gupta and their companies Unickon Securities Pvt Ltd, Unickon Fincap Pvt Ltd, Unickon Financial Intermediaries Pvt Ltd, Unickon Real Estate Pvt Ltd and i360 Staffing and Training Solutions Private Limited in a cheating and fraud case related to Securities and Exchange Board of India (SEBI). Unickon Securities, a Stock Broker and Depository Participant of Central Depository Services Limited (CDSL), was accused of cheating investors."From Jan 2014 onwards, Approx. 4156 investors approached SEBI and filed complaints for non–receipt of their funds and securities. Subsequently, SEBI enquiry pointed out several violations of the SEBI Act, Rules and Regulations. Thereafter, ED initiated investigation into this fraud of Rs. 88 Crore committed on the investors’ money and securities under the Prevention of Money Laundering Act, 2002," as per the ED..The complaint filed before the Patiala House Court has been pending since 2022 and is still at the stage of scrutiny of documents..[Read Order]
A Delhi court has summoned the Enforcement Directorate (ED) Director Rahul Navin over the central agency's failure to provide legible copies of documents (evidence) to accused in a case under Prevention of Money Laundering Act (PMLA)..Additional Sessions Judge Aparna Swami passed the order after ED Deputy Director Dipin Goyal told the Court that copies supplied to the accused were the best possible copies available with the department."In view of the submissions and the delay in the matter with regard to providing of the legible copies as seen from the order sheets dated 28.03.2024, this court deems it appropriate to direct the Director of ED alongwith the Investigating Officer to appear in the court and give in writing the status of documents to be provided to the accused persons," the judge ordered on January 25.The matter will next be considered on March 26..The development took place in a prosecution complaint filed by the ED against Gajendra Nagpal, his wife Sonia Nagpal, Ram Mohan Gupta and their companies Unickon Securities Pvt Ltd, Unickon Fincap Pvt Ltd, Unickon Financial Intermediaries Pvt Ltd, Unickon Real Estate Pvt Ltd and i360 Staffing and Training Solutions Private Limited in a cheating and fraud case related to Securities and Exchange Board of India (SEBI). Unickon Securities, a Stock Broker and Depository Participant of Central Depository Services Limited (CDSL), was accused of cheating investors."From Jan 2014 onwards, Approx. 4156 investors approached SEBI and filed complaints for non–receipt of their funds and securities. Subsequently, SEBI enquiry pointed out several violations of the SEBI Act, Rules and Regulations. Thereafter, ED initiated investigation into this fraud of Rs. 88 Crore committed on the investors’ money and securities under the Prevention of Money Laundering Act, 2002," as per the ED..The complaint filed before the Patiala House Court has been pending since 2022 and is still at the stage of scrutiny of documents..[Read Order]
