Chennai, Sep 18: The Enforcement Directorate (ED) on Thursday launched extensive searches in Chennai and Hyderabad in connection with a money laundering probe into an alleged Rs 200 crore bank fraud and benami property dealings linked to V. K. Sasikala, the confidante of late Tamil Nadu Chief Minister J. Jayalalithaa.

Officials confirmed that the searches covered at least ten locations across the two cities.

The premises, according to the source, are connected to a businessman who has been identified as an alleged benami of Sasikala. The raids were conducted under the provisions of the Prevention of Money Laundering Act (PMLA).

The investigation stems from a case registered by the Central Bureau of Investigation (CBI), which had earlier filed an FIR over what it described as fraudulent banking transactions running into hundreds of crores.

Acting on this, the ED initiated its own money laundering probe to trace the flow of funds and identify properties suspected to have been acquired through illegal means or in the names of benami holders.

Sources said officials are seizing documents, financial records, property deeds and electronic evidence from the searched locations. These materials will be examined to establish links between the bank fraud and assets allegedly concealed through benami arrangements.

While the extent of seizures is not yet clear, officials indicated that the raids were aimed at unearthing the full scale of transactions connected to the case.

The action once again puts Sasikala back in the spotlight. A key player in Tamil Nadu politics for decades, she has previously faced allegations and legal battles over disproportionate assets.

The ED’s current move revives scrutiny into her financial networks, particularly through associates and business entities suspected to have acted as fronts.

Investigators are likely to expand the probe depending on the findings from the ongoing searches. If evidence of laundering or concealment is confirmed, assets may be provisionally attached under PMLA, and further charges could follow.

The raids have drawn political attention as well, with observers noting that the timing and the scale of the operation underscore the central agency’s renewed focus on high-profile economic offences in Tamil Nadu.

Patna, Sep 18: Union Home Minister Amit Shah on Thursday targeted the RJD national President Lalu Prasad Yadav and said he or the other leaders in his family cannot develop Bihar.

“Lalu Yadav, Rabri Devi, and Tejashwi Yadav cannot develop Bihar,” he said. Adding that the stronger the NDA, the more prosperous Bihar will be.

Attacking the opposition over corruption, Shah said, “Lalu Prasad Yadav cannot do in his entire life what the NDA has delivered for Bihar in these years. They gave scams — fodder scam, land-for-jobs scam, jail scam. On one side is their corrupt government when they were in power, and on the other side is the Modi government, which has no stain of corruption.”

Addressing a meeting of selected party workers from 10 districts in Dehri, Rohtas, the Union Home Minister asserted that, unlike other parties where leaders win elections, in the BJP, it is the workers who ensure victory.

He said that people of Bihar had already seen the rule of the RJD and its allies, but prosperity never comes from a reign of extortion and murder.

Urging youth to support the NDA, he said, “If today’s youth want to move forward and walk on the path of development, there is only one way — strengthen the NDA government in the upcoming elections.”

Shah asked party workers to work towards securing victory for 80 per cent of NDA candidates in the region.

Targeting Congress leader Rahul Gandhi’s Voter Adhikar Yatra, Shah dubbed it a ‘Save the Infiltrators’ campaign.

He questioned, “Should infiltrators get ration cards, Ayushman cards, or voting rights?”

Highlighting the achievements of the Nitish Kumar government, he said 125 units of electricity are now being provided free of cost, and social pension amounts have been increased.

Shah urged workers to take the NDA’s message to every household, asserting that the future of Bihar lies with the NDA.

Amit Shah praised Prime Minister Narendra Modi’s dedication, saying that in his 24 years as Prime Minister and Chief Minister, he has not taken a single day of leave.

In a veiled dig at Congress leader Rahul Gandhi, Shah added, “On the other hand, there is a person who goes abroad every six months for vacation.”

Shah highlighted the NDA government’s achievements.

“Our government launched Operation Sindoor, carried out airstrikes to teach lessons to the enemy country, things that never happened before. We have built the Ram temple in Ayodhya, and a grand Goddess Sita temple is coming up in Sitamarhi. The slabs of GST have been reduced, which will immensely benefit the common people of Bihar,” he said.

Acknowledging setbacks in the Shahabad region, Shah admitted that the BJP-NDA did not perform well in the 2020 Assembly polls, but urged party workers to work harder this time.

“Go to every doorstep and inform people about the double-engine government’s measures. We need better performance in Shahabad and Magadh regions to win 80 per cent of Bihar’s seats and form a majority government in the state,” he said.

Mumbai, Sep 18: The Indian equity indices extended the gaining momentum for the third consecutive session on Thursday amid buying in IT stocks after the US Fed announced a rate cut.

Sensex closed at 83,013.96, up 320.25 points or 0.39 per cent.

The 30-share index opened with a decent gap-up at 83,108.92 against the last session’s closing of 82,693.71 after the US Fed announced a rate cut. However, the index remained range-bound throughout the session amid a mixed approach across sectors except IT.

Nifty ended the session at 25,423.60, up 93.35 points or 0.37 per cent.

“Global equities traded in the green after the U.S. Federal Reserve cut rates by 25 bps to 4–4.25 per cent and signalled two more reductions this year to cushion rising job market risks. Mirroring the upbeat global sentiment, Indian markets opened with a positive gap-up and maintained a sideways trajectory through the first half of the session,” Ashika Institutional Equities said in a note.

Eternal, Sun Pharma, Infosys, HDFC Bank, PowerGrid, HCL Tech, ITC, Hindustan Unilever, Tata Steel, Axis Bank and Bajaj FinServ settled high amid the Sensex stocks. Bajaj Finance, Tata Motors, Trent, Ultratech Cement, and Asian Paints ended the session in negative territory.

The majority of sectoral indices remained in green amid value buying. Nifty Fin Services jumped 135 points or 0.51 per cent, Nifty Bank rose 234 points or 0.42 per cent, Nifty Auto moved up 34 points or 0.13 per cent, Nifty FMCG jumped up 201 points or 0.36 per cent, and Nifty IT surged 303 points or 0.83 per cent.

Broader indices continued their bullish run amid buying in midcap and small-cap stocks. Nifty Small Cap 100 jumped 53 points or 0.29 per cent, Nifty Midcap 100 increased 224 points or 0.38 per cent, and Nifty 100 ended the session 91 points or 0.35 per cent high.

“Rupee closed weaker by 0.26 at 88.09 despite the dollar index staying soft post-Fed policy, where a rate cut was announced but forward guidance remained mixed as the roadmap for further cuts was unclear and data-dependent on jobs,” said Jateen Trivedi of LKP Securities.

The rupee failed to gain as FII sentiment remained cautious, while ongoing India-US trade talks will be the next key trigger. Support for the rupee lies near 87.75, while resistance is seen at 88.25, he added.