'Dabba trading': ED attaches over Rs 34-cr worth assets
New Delhi (PTI): Assets worth more than Rs 34 crore have been attached under the anti-money laundering law in a 'dabba trading' case, the Enforcement Directorate (ED) said on Tuesday.
The probe of the federal agency stems from an FIR filed by Indore police (Lasudia police station) in Madhya Pradesh.
Dabba trading refers to an illegal and unregulated form of trading in securities.
The ED said it has issued a provisional order, under the Prevention of Money Laundering Act (PMLA), for the attachment of the properties belonging to a number of accused that includes Vishal Agnihotri, Tarun Shrivastava, Hitesh Agrawal, Dharmesh Rajnikant Trivedi, Srinivasan Ramasamy, Karan Solanki, Dhaval Devraj Jain and their family members.
These persons, according to an ED statement, have been operating multiple entities and platforms such as V Money/VM Trading (Standard Trades Limited), 11Starss, Lotusbook247, 8 Stock Heights, Goldmine, Vertex, Gamebetleague, iBull Capital Ltd, Playbook, TargetFX, World777 apart from some others.
These platforms were allegedly involved in illegal dabba trading and online betting operations, it said.
"Funds collected from investors and participants were routed through mule bank accounts, hawala channels, and cryptocurrency transactions," the ED said.
The agency had conducted searches in this case in December 2024 and in June and July this year in cities like Indore, Bhopal, Mumbai, Chennai and Ahmedabad.
Statements recorded under the PMLA "established" the flow of funds and their utilisation in acquiring assets in the names of promoters, family members, and associated entities, the ED claimed.
It had frozen assets in this case earlier and with the latest attachment order worth Rs 34.26 crore, the total value of seizure/attachment stands at Rs 58.39 crore.
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JD(S) attacks K’taka govt over fuel prices, accuses it of mobilising funds for guarantee schemes
Mysuru (PTI): Union Minister H D Kumaraswamy on Sunday launched a sharp attack on the Congress government in Karnataka over petrol and diesel prices, accusing it of "misleading the public" while repeatedly raising taxes and fuel prices to finance its guarantee schemes.
Addressing a public outreach programme titled 'Janarondige Janata Dal' (Janata Dal with the people) and a membership campaign in the Chamundeshwari Assembly constituency in Mysuru, the JD(S) state president challenged Congress leaders to make public the number of tax hikes and price increases imposed by the state government over the last three years.
"On one hand, the government is deceiving people by claiming to provide guarantees, while on the other, it is repeatedly increasing prices. Let the Congress government release a list of how many times it has imposed taxes and raised prices," Kumaraswamy said.
He alleged that the Congress government had continuously increased taxes and prices on liquor, bus fares, electricity, and several other sectors to mobilise funds for its five guarantee schemes—Gruha Lakshmi, Gruha Jyothi, Anna Bhagya, Shakti, and Yuva Nidhi.
Kumaraswamy also criticised Congress leaders for attacking the Centre over fuel price hikes and asked them to introspect on their own contribution to the state’s development before holding the proposed 'Sadhana Samavesha' (achievement convention) on May 19.
Referring to the global oil situation, he said the ongoing conflict involving the United States, Israel, and Iran had triggered an international oil supply crisis and argued that fuel prices in India remained lower than in many developed countries.
"In Singapore, which is a developed country, petrol costs Rs 245. Congress leaders should open their eyes and see this," he claimed.
He further questioned what the Congress party would have done had it been in power during the present international crisis.
"Did anyone foresee that such a war would take place? If Congress leaders had such foresight, let them say so. If the Congress party itself had been in power during such a difficult situation, what would it have done?" Kumaraswamy asked.
Throughout his address, the former CM mounted a sustained attack on Congress leaders and dismissed claims that guarantee schemes had improved people’s lives.
"Congress leaders think people are living peacefully because of the guarantee schemes. That is wrong," he said.
Recalling the by-election scenario in the Chamundeshwari constituency in 2006, Kumaraswamy said JD(S) had suffered defeat due to internal mistakes within the party.
"If our leaders had been cautious then, the situation would not have reached this stage. JD(S) suffered defeat because of some mistakes on our part," he said.
He added that he shared a deep bond with the constituency.
Calling upon party workers to prepare for the next Assembly elections, Kumaraswamy expressed confidence that JD(S) would win 75 seats in the next polls and asserted that Chamundeshwari constituency would return to the party in 2028.
"There is no confusion in our party," he said, adding that JD(S) would not bow to any pressure and that the convention had been organised to strengthen its presence in Chamundeshwari.
"Our party has lakhs of loyal workers as its backbone. JD(S) remains strong even today because of the hard work of our cadre," he said.
Kumaraswamy also claimed that during his tenure as CM, he had sanctioned more funds for the Chamundeshwari constituency than the present CM (Siddaramaiah).
"We are not holding this convention to oppose anyone. We are organising it to inform the people about the failures of the state government," he said.
Addressing the gathering in a traditional turban, Kumaraswamy said the gesture was intended to send a message to the Hallumatha and Kuruba communities and reassure them of JD(S) support.
"JD(S) is working for Kurubas, Dalits, and minorities. I am not helping distressed people for publicity. I do it out of self-satisfaction and duty," he said.
