As we all know now that the case against Anubhav Mittal (Social Trade) hase gone to the Directorate of Enforcement (ED). READ THE FULL STORY HERE.
https://www.youtube.com/watch?v=mzixIlr69kY
Since Directorate of Enforcement (ED) has been involved, we must first know about what are the rights that ED Possess and what are the actions it could majorly take, so let’s know them in detail below:
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- Directorate of Enforcement is the enforcement of two key Acts of the Government of India namely, the Foreign Exchange Management Act 1999 (FEMA) and the Prevention of Money Laundering Act 2002 (PMLA)
- The ED’s (Enforcement Directorate) official website enlists its other objectives which are primarily linked to checking money laundering in India. In fact, this is an investigation agency, so giving the whole details on public domain is against the rules of GOI.
- Hence you can visit its official website directly and read about the details of the ED in the different areas.
- The Directorate of Enforcement, with its Headquarters at New Delhi is headed by the Director of Enforcement. There are five Regional offices at Mumbai, Chennai, Chandigarh, Kolkata and Delhi headed by Special Directors of Enforcement.
- Zonal Offices of the Directorate are at Ahmedabad, Bangalore, Chandigarh, Chennai, Kochi, Delhi, Panaji, Guwahati, Hyderabad, Jaipur, Jalandhar, Kolkata, Lucknow, Mumbai, Patna and Srinagar. These are headed by a Joint Director.
- The Directorate has Sub-Zonal Offices at Bhubaneshwar, Kozhikode, Indore, Madurai, Nagpur, Allahabad, Raipur, Dehradun, Ranchi, Surat and Shimla which are headed by a Deputy Director.
SOURCE: WIKIPEDIA[/quote]
Social Trade case is handled by the Zonal Office Lucknow, Uttar Pradesh.
We request you all to visit the official website of Directorate of Enforcement and get rest of the details, We cannot even hyperlink our website with it’s link untill and otherwise we have prior permission from Govt. of India.
But from the above points, you all must have got some clear ideas of what exactly ED is going to investigate against Social Trade and Anubhav Mittal.
Now the question is, what can actually save Anubhav Mittal?
well the simple anser to that question is, only if Government makes the Regullatory Body for handeling such type of financial cases as SEBI has already denied to take this case under it. You can see the long conversation between SEBI and other financial activists and supreme court judge in the video below:
https://www.youtube.com/watch?v=GfwipvBJM-I&t=414s
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