Live Breaking News & Updates on Illegal Remittances
Stay updated with breaking news from Illegal remittances. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Enforcement Directorate (ED) has seized nine properties worth over Rs 65 crore belonging to Venkateshwara Hatcheries Pvt Ltd (VHPL) for allegedly making illegal foreign remittances to purchase a 90-acre house in the UK. The ED case involves remittances made by VHPL to its subsidiary, Venky s Overseas Limited (VOL), from 2011. VHPL had declared VOL s business as agriculture and mining, but no such activity was ever initiated. ....
Xiaomi, which denies any wrongdoing, had challenged the asset freeze in Karnataka High Court, saying in its legal filing it ‘is severely disproportionate and has effectively halted the operations’ of the company ....
China today expressed hope that India will provide a ‘fair, just and non-discriminatory environment’ to its companies as it reacted guardedly to reports of Xiaomi faced a probe by the Enforcement Directorate regarding its remittances abroad ....
The seizure was made in connection with a probe that was launched by the federal agency against the company into alleged "illegal remittances" sent abroad by the Chinese firm in February. ....