Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
ED, Lucknow has filed a Prosecution Complaint (PC) before the Hon’ble Special Court (PMLA), Lucknow, Uttar Pradesh in money laundering case of Shine City Fraud on 24.04.2024. The Hon’ble Special Court has taken cognizance of the PC on 10.06.2024. This is the second PC filed by the directorate. [Read More]
Update / Judgement Date
18 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Money Laundering (PMLA)
The Enforcement Directorate (ED), Lucknow Zonal Office, has filed a Prosecution Complaint (PC) before the Hon’ble Special Court (PMLA), Lucknow, Uttar Pradesh, on 24.04.2024, in connection with the Shine City fraud case. \r
The court acknowledged the PC on 10.06.2024, marking the second such complaint by ED in this matter. The investigation, initiated based on approximately 554 FIRs filed by Uttar Pradesh Police against Rasheed Naseem and Shine City Group of Companies, uncovered a Ponzi-pyramid scheme. \r
ED's probe traced diverted funds, totaling Rs. 128 crore, through various directors, promoters, associates, and group companies, utilized for property purchases. Previous searches and arrests have implicated several individuals, affirming their involvement in money laundering activities.
