National News
ED attaches property worth Rs 110 crore in KSBL case

The Enforcement Directorate (ED) on Saturday said that they have attached immovable and movable assets worth Rs 110 crore in the money laundering investigation against Karvy Stock Broking Ltd (KSBL), its Chairman Comandur Parthasarathy and others.
With the fresh attachments, the total now stands at Rs 2,095 crore.
In March, the ED had attached immovable and movable properties in the form of land, buildings and share holdings worth Rs 1,984 crore.
The probe agency initiated its investigation on the basis of FIRs filed by the CCS Police Station, Hyderabad Police, on the complaints of lending Banks who complained that the Karvy Group had availed large amounts of loans by illegally pledging their clients’ shares worth about Rs 2,800 crore and the said loans became NPA after the release of the client’s securities as per the orders of NSE and SEBI.
KSBL was one of the leading Stock Brokers in the country with millions of clients. The scam came to light after a limited purpose inspection of KSBL conducted by NSE in 2019 revealed that KSBL had not revealed a DP Account and credited the funds raised by pledging of client securities to six of its own bank accounts (“Stock Broker-own Account”) instead of the “Stock Broker-Client Account”.
The ED collected the audit conducted by NSE and the orders passed by SEBI and ROC against KSBL and the forensic audit reports of BDO India LLP.
In 2021, the ED conducted searches at nine locations. This year, Parathasarathy, and G. Hari Krishna, CFO, were arrested and were sent to judicial custody.
The agency said that the accused were evasive throughout the questioning.
According to ED investigation, KSBL had misused the Power of Attorney given by its clients and misused the same to illegally raise loans.
Shares of clients who did not owe any funds to KSBL had been transferred to the Pool Account of KSBL and were pledged with the banks by making misleading declaration of ownership.
“Share transfers were done from the client’s accounts for which the KSBL’s Sales Team claimed that they had taken clients’ approval for stock lending through phone or orally, but there were no supporting documentary evidence,” said an ED official.
Large amounts of proceeds of crime were ‘invested’ by the accused in the form of investments, short term advances, loans to group companies. This resulted in enhancement of the value of the subsidiary companies of KSBL.
“Now the accused were trying to sell these subsidiary businesses at a profit to yield indirect windfall gains to the main accused,” the ED said.
National News
Maharashtra: Major scam in twin tunnel and elevated road projects, allege Shiv Sena-UBT and Congress

Mumbai, May 31: The opposition Shiv Sena-UBT and Congress in Maharashtra have claimed that there is a major scam in the Thane-Godbunder-Bhayander twin tunnel and elevated road projects estimated together at Rs 14,000 crore.
“Will Deputy Chief Minister Eknath Shinde be removed from the government and an investigation conducted into this scam?” SS-UBT leader Aaditya Thackeray said at a press conference while criticising the state government after the Mumbai Metropolitan Region Development Authority (MMRDA) told the Supreme Court during a hearing on a petition filed by the infrastructure major L&T that both the tenders would be scrapped, and a fresh tender process would be initiated only to safeguard larger public interest.
“I congratulate the court… I also congratulate the contractor L&T. No political interference is needed. I had brought this news to the fore last year also,” Aaditya Thackeray said on Saturday.
“The cost of the twin projects was expected to be Rs 14,000 crore and, on the other hand, the contract process was to be completed in 20 days. There is a short tender notice for landslides, broken walls. But how can there be a short notice for this big project? When they (L&T) went to court, MMRDA said that they are giving a contract period of 60 days instead of 20 days,” he claimed.
“It all started for a favourite contractor. At that time, I didn’t think it would be such a big scam. There was a settlement against the government for a contract. But today’s (court) case has given me confidence that ‘Satyamev Jayate’ will prevail. It was clear that this was a scam. Just because the contract was canceled later on the orders of the court doesn’t mean it wasn’t a scam.
“The ED and IT-D are being pushed aside. I ask the Chief Minister – are you going to investigate the ‘corrupt Nath’ Shinde? He must have taken bribes, given threats. Fadnavis says we need clean governance. Shinde holds the urban development department… he gives orders to commit scams. Will you investigate him? Are you going to expel him?” Aaditya Thackeray questioned.
He claimed that Fadnavis does not need Shinde as Ajit Pawar is with him. “So will the probe be conducted by keeping aside Shinde?” he wondered.
On the other hand, Maharashtra Pradesh Congress Committee president Harshwardhan Sapkal claimed that there was corruption of Rs 3,000 crore in the Thane-Godbunder-Bhayander twin tunnel and elevated road projects. He also accused CM Devendra Fadnavis and his deputy Eknath Shinde of taking bribes in these projects.
“The matter does not end with the cancellation of the tender by MMRDA as the issue is about corruption. Devendra Fadnavis and Eknath Shinde have created a corridor of corruption in the state and there is a circle of state undertakings including MMRDA, MHADA (Maharashtra Housing and Area Development Authority), CIDCO (City and Industrial Development Corporation) and SRA (Slum Rehabilitation Authority) for this purpose. This circle of corruption has been quite active since Eknath Shinde became the Chief Minister. For this, favourite officers are appointed and through this, the favourite contractor scheme is implemented,” alleged Sapkal.
National News
Re-tendering of Ghodbunder-Bhayandar projects: Voluntary move despite legal clearance, says MMRDA

Mumbai, May 31: The Mumbai Metropolitan Region Development Authority (MMRDA) on Saturday strongly defended its decision to scrap tenders for the Thane-Ghodbunder-Bhayandar twin tunnel and elevated road projects, valued at around Rs 14,000 crore.
The authority emphasized that the move was voluntary and aimed at upholding transparency, despite having received legal vindication from the courts.
In a submission before the Supreme Court on Friday, MMRDA said that it would scrap both tenders and initiate a fresh bidding process in alignment with its institutional commitment to transparency and to safeguard the larger public interest.
“The decision to re-tender the Ghodbunder-Bhayandar infrastructure projects underscores MMRDA’s commitment to public value, ethical governance, and transparency,” the authority said in a statement.
“This voluntary step comes despite the Supreme Court declining to interfere with the Bombay High Court’s rulings, which had upheld the legality and procedural soundness of the tender process for the Gaimukh-Bhayandar project,” it added.
MMRDA also said it was actively considering a downward revision of the project’s base cost by around Rs 3,000 crore, based on price quotations revealed during court proceedings, to ensure optimal utilization of public funds.
Infrastructure major Larsen & Toubro (L&T) had twice challenged the tendering process in the Bombay High Court, which on both occasions upheld MMRDA’s procedures, affirming that all rules, technical criteria, and eligibility norms had been followed.
In its Special Leave Petition (SLP) before the Supreme Court, L&T had sought both interim and final reliefs, including a stay on the High Court’s order, a freeze on the opening of financial bids, a bar on disclosure of submitted bids, and a halt on issuing any Letter of Award.
However, the apex court declined to grant any of these interim requests.
“The Court did not stay the High Court’s order, nor did it restrain MMRDA from opening financial bids, disclosing them, or issuing Letters of Award,” the MMRDA statement said.
“During final hearings, Chief Justice B.R. Gavai expressly refused to interfere with the Bombay High Court’s rulings, thus reinforcing the legality of MMRDA’s tendering process.”
According to MMRDA, L&T was disqualified for failing to meet a key eligibility condition that required bidders to declare that no bridge or barrage constructed by them had collapsed within two years of completion.
Based on L&T’s own disclosure, the company was rendered ineligible, and its financial bid was never opened.
“MMRDA’s approach in this matter goes beyond a legal win. It reflects leadership — where legal compliance is a baseline, and ethical decision-making in public interest is the standard,” the statement said.
Crime
Delhi Police bust interstate auto theft syndicate, recover eight high end cars

New Delhi, May 30: The Delhi Police Crime Branch has busted an interstate syndicate involved in the theft and resale of high-end vehicles, a statement said on Friday.
The gang used a sophisticated modus operandi to sell stolen cars through online platforms by forging documents, opening bank accounts with fake identities, and tampering with engine and chassis numbers.
In a series of coordinated operations, the police arrested a key member of the gang and recovered eight luxury vehicles.
According to Delhi Police, the breakthrough came with the arrest of Rakesh Patel alias Pappu (38), a core operative of the syndicate, near Sahibabad Railway Station in Ghaziabad on April 21, 2025.
Acting on a tip-off, police apprehended him while he was attempting to sell a stolen Maruti Wagon-R via an online platform.
Patel, a resident of Sahibabad, Ghaziabad (UP), and originally from Mohiuddin Nagar, Samastipur (Bihar), played a central role in managing theft operations and delivering stolen vehicles across states.
His associates arranged vehicles, counterfeit documents, and fake number plates.
The gang’s method was notably elaborate. After stealing a car, they searched online car-selling portals for vehicles of the same make, model, and colour.
Using open-source information, they identified details of genuine owners and forged documents in the owner’s name — featuring the photograph of one of the accused. They also opened bank accounts using these fake identities.
To avoid detection, the syndicate would tamper with the stolen car’s engine and chassis numbers to match those of the legitimate vehicle. Fake Registration Certificates (RCs) were then prepared, making the stolen car appear genuine. Once the vehicle was thus ‘cloned,’ it was listed for sale on online platforms.
The syndicate targeted high-demand vehicles, often choosing cars parked in low-surveillance or roadside areas. The police noted the gang’s use of advanced technological tools to support their operations.
A team led by Inspector Arun Sindhu of the Crime Branch spearheaded the investigation, which led to the arrest and recovery of the stolen vehicles.
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