A Bengaluru special court has granted the Enforcement Directorate 10-day custody of WinZO co-founders in a money laundering case involving alleged cheating, fund diversion and gaming manipulation. The ED claims the platform generated illegal “proceeds of crime” through deceptive real-money gaming practices.
The Supreme Court has sought a response from the Serious Fraud Investigation Office (SFIO) on Vijayraj Surana’s plea seeking relaxation of his bail conditions in a ₹10,000 crore financial fraud case. The top court had earlier granted him bail, noting that prolonged detention before trial amounts to “punishment without conviction.”
The Delhi High Court has issued a contempt notice to BluSmart, Gensol, and others for allegedly violating a court order regarding 10 Tata Tigor EVs. Shefasteq claims the companies obstructed efforts to locate the vehicles and failed to provide required information. Legal proceedings involving Gensol have escalated amid serious allegations from SEBI.
Sebi has imposed a 5-year ban and Rs 25 crore fine on Anil Ambani and 24 others, including former officials of Reliance Home Finance Ltd, for fund diversion. The scheme involved fraudulent loans to entities connected to Ambani, resulting in significant losses for over 900,000 shareholders. The entities involved have also been fined by Sebi.
