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67 Indian financial institution accounts below scanner over embezzlement fraud in Brazil frozen via ED – india information


The Enforcement Directorate (ED) knowledgeable the Delhi top court docket on Thursday that it iced over 67 financial institution accounts of quite a lot of Indian businessmen and corporations in India at the request of Brazil, the place a provincial governor is below investigation for embezzling budget.

The ED has knowledgeable the court docket that it acted on mutual criminal settlement between each international locations nevertheless it hasn’t filed any case within the topic.

The company was once responding to a plea filed via recommend Vijay Aggarwal on behalf of corporate Hamilton Housewares, whose account was once frozen via the ED ultimate month along side different folks/corporations.

Hamilton Housewares Pvt Ltd offers in plastics, thermo metal, thermoware, ceramic ware and glassware below the logo identify “Milton”. The corporate’s accounts was once ordered to be frozen via the ED on July 13. The order additional mentioned that no withdrawals might be allowed with out the permission of the company.

Aggarwal argued ahead of the top court docket that the industry of the corporate has been affected because of ED’s motion and it’s not in a position to accomplish its day by day industry, each on the subject of bills to be made and the orders to be carried out.

He additional argued that the motion has been taken when it’s not even identified whether or not a scheduled offence has been registered or now not and that ED has now not provided to the corporate “causes to imagine” to freeze the checking account.

The ED mentioned that the motion has been taken on request of Brazil and India is below legal responsibility to behave as there’s a reciprocal settlement between the 2 international locations. Brazilian government had asked India to freeze those 67 accounts by which budget related to a provincial governor had been transferred.

The company claimed that Brazil provincial governor (whose identify has been withheld via the ED) was once all for emebezzellent of budget to over 50 international locations, together with India.

HT had reported the freezing of financial institution accounts of 67 folks and corporations ultimate month.

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