ED arrests insolvency professional Jitesh Gupta in Best Foods money laundering case

Posted on by Vividh Bharathi

New Delhi, Aug 12 (IANS) The Directorate of Enforcement (ED) has arrested Jitesh Gupta, an insolvency professional, under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, on Wednesday.

Gupta had acted as interim resolution professional/resolution professional (IRP/RP) in the Corporate Insolvency Resolution Process (CIRP) of M/s Homestead Infrastructure Development Pvt. Ltd. and M/s Golden Peacock Residence Pvt. Ltd.

He was produced before the Special Court (PMLA), which remanded him to ED custody for further investigation, the agency said in a press statement.

The ED initiated the probe based on an FIR registered by the Central Bureau of Investigation (CBI) against M/s Best Foods Ltd. under various sections of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988.

Investigation revealed that Dinesh Gupta, while in control of M/s Best Foods Ltd. and related entities, diverted loan funds through dummy and shell companies and laundered the proceeds of crime.

Further probe established that Jitesh Gupta, in his capacity as IRP/RP, suo motu re‑admitted claims that he had earlier rejected as spurious and fraudulent. This action altered the composition of the Committee of Creditors. He also facilitated a Resolution Plan that was submitted as a front for Dinesh Gupta and was funded through an entity controlled by him. In addition, Gupta recommended a person connected with Dinesh Gupta as a prospective resolution applicant.

The National Company Law Tribunal (NCLT), in its order dated September 9, 2025, recorded adverse findings against Jitesh Gupta. The Tribunal held that he had acted beyond his authority by relying on fabricated and improperly submitted documents and directed his replacement as Resolution Professional, the ED statement said.

ED investigation also uncovered a banking trail of unexplained financial transactions received by Gupta from several persons linked to Dinesh Gupta, M/s Best Foods Ltd. and its group entities. No legitimate consideration for these transactions was found on record.

The evidence collected establishes that Jitesh Gupta knowingly facilitated the process and activities connected with the proceeds of crime, thereby attracting liability under Section 3 of the PMLA, 2002, which is punishable under Section 4 of the Act.

Further investigation in the case is in progress.

–IANS

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24-member Sri Lankan delegation in India to further deepen bilateral ties

New Delhi, July 16 (IANS) A 24-member Sri Lankan delegation met Foreign Secretary Vikram Misri in New Delhi on Wednesday and discussed the deepening bilateral ties between the two nations.

The delegation, including 24 leaders from across 14 political parties of Sri Lanka, began their two-week visit to India on Wednesday.

During the meeting, Foreign Secretary Misri highlighted the significant role of the young leaders as key stakeholders in enhancing the ties between the two nations and shaping the future roadmap.

“A 24-member delegation of young political leaders from 14 political parties of Sri Lanka called on Foreign Secretary Vikram Misri as they began their two-week-long programme in India,” the Ministry of External Affairs (MEA) said in a post on X.

“Foreign Secretary emphasised their valuable role in deepening the India-Sri Lanka partnership as stakeholders in its future roadmap,” the ministry added.

The meeting also focused on regional geopolitical trends and security agreements signed between India and Sri Lanka.

Last week, High Commissioner of India to Sri Lanka Santosh Jha interacted with the 24-member Sri Lankan delegation of cross-party young political leaders ahead of the two-week-long India visit and discussed a series of initiatives to enhance linkages for fostering partnerships for a shared future.

Deputy Speaker Rizvie Salih, 20 Members of Parliament from various parties, and four senior officials of the Sri Lankan Parliament, including the Secretary General, are part of the delegation.

India and Sri Lanka share a more than 2,500-year-old relationship, with a strong civilisational and historical connection.

Sri Lanka has a central place in India’s ‘Neighbourhood First’ policy and MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions) vision.

Earlier in April, Prime Minister Narendra Modi visited the island nation and held a productive meeting with the Sri Lankan President Anura Kumara Disanayaka.

PM Modi became the first foreign leader to pay a state visit to the island nation since President Disanayaka took office in September 2024.

During the meeting, both leaders held detailed discussions in a restricted and delegation-level format on further deepening the special and close bilateral ties that are rooted in shared history and driven by strong people-to-people linkages.

PM Modi also announced a comprehensive package for training an additional 700 Sri Lankan citizens annually in the areas of capacity building and economic support, and the conclusion of Bilateral Amendatory Agreements on Debt Restructuring.

The Prime Minister reiterated Sri Lanka’s importance in India’s Neighbourhood First Policy and Vision MAHASAGAR. He conveyed New Delhi’s continued commitment to assist in the island nation’s economic recovery and stabilisation.

The bilateral relations of both nations are mature and diversified, encompassing all areas of contemporary relevance.

The shared cultural and social heritage of the two countries and the extensive people-to-people interaction of their citizens provide the foundation to build a multi-faceted partnership.

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Disheartening to see disruptions in Parliament over wealth creators: Sadhguru

New Delhi, Dec 12 (IANS) Jaggi Vasudev, the founder of Isha Foundation on Thursday expressed dismay over repeated disruptions in the ongoing session of Parliament, particularly over matters related to privately owned businesses and conglomerates.

“It is disheartening to observe disruptions in the Parliament, particularly when we aspire to be a beacon of democracy for the world,” the spiritual guru said.

Taking to his social media handle on X, he advised, “The wealth creators and job providers of India should not become subject of political rhetoric.”

The spiritual guru further suggested that if there are discrepancies, they should be handled within the framework of law and let them become a political football.

“The Indian business must thrive for Bharat to become a Bhavya Bharat,” Coimbatore-based Sadhguru remarked.

Sadguru’s remarks comes amidst the ongoing Winter session of Parliament, scheduled to end on December 20, as it faces repeated adjournments over one or the other issue.

Congress-led Opposition has been targeting the government for “favouring” a few business houses while the NDA leaders have been attacking the INDIA bloc for corruption, accusing former Congress president of having links with ties with an organisation reportedly funded by the George Soros Foundation, which once supported the idea of Kashmir as an independent nation.

The foundation has been accused of backing narratives challenging India’s sovereignty, including advocating for Kashmir’s independence.

A day ago, the INDIA bloc moved a no-confidence motion against Rajya Sabha chairman Jagdeep Dhankar accusing him of partisan behaviour and acting as the spokesperson of the government.

The INDIA bloc held Jagdeep Dhnakar responsible for the repeated stalling and disruption of the House over his ‘headmaster-type attitude’ and treatment of ‘Parliament like a school.’

Justifying their stance against Jagdeep Dhankhar, Congress President Mallikarjun Kharge said: “We were left with no option but to go ahead with this notice. For three years, he has been acting in a partisan manner. He has given ample time to the treasury benches, denied the Opposition a chance to present their views and also resorted to schooling the Opposition leaders like a headmaster.”

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UP supplementary budget overshadowed by Oppn protest over Ram Temple donation theft row

Lucknow, Aug 5 (IANS) The Uttar Pradesh Assembly witnessed a heated confrontation as a political dispute over the alleged Ram Temple donation theft issue overshadowed the presentation of the state government’s first supplementary budget for the financial year 2026-27.

The Yogi Adityanath-led government presented a Rs 59,019.54 crore supplementary budget in the Assembly on Tuesday, but proceedings were dominated by protests from Opposition members, especially Samajwadi Party (SP) legislators, who demanded a discussion on the alleged Ram Temple donation theft issue before taking up the budget debate.

The Assembly is expected to resume proceedings on Wednesday with discussion on the supplementary budget likely to be held.

During Chief Minister Yogi Adityanath’s address on Tuesday, SP MLAs continuously raised slogans and created a commotion in the House. The Opposition members entered the Well of the Assembly and protested, demanding that the issue of alleged theft of Ram Temple offerings be discussed first.

SP MLA Sachin Yadav displayed a poster carrying the Chief Minister’s photograph along with protest slogans during the demonstration. Assembly Speaker Satish Mahana first warned the legislator against disrupting proceedings but later suspended him from the House after he continued with the protest.

As tensions increased, marshals were called inside the Assembly. SP women legislators surrounded Sachin Yadav during the protest, following which women marshals were also deployed to maintain order.

The exchange of slogans between ruling party and Opposition members created a tense atmosphere in the House. The situation improved after Chief Minister Yogi Adityanath, Parliamentary Affairs Minister Suresh Khanna, and Deputy Chief Minister Brajesh Pathak left the Assembly.

After his suspension, Sachin Yadav staged a sit-in protest outside the Assembly premises near the statue of former Prime Minister Chaudhary Charan Singh. SP legislators accused the government of avoiding a discussion on the Ram Temple donation issue.

Meanwhile, details of the supplementary budget were presented amid the disruptions. The Heavy and Medium Industries Department received the highest allocation, with a provision of Rs 22,107.88 crore. The Rural Development Department was allocated Rs 17,942.73 crore.

The supplementary budget is intended to meet additional financial requirements of various departments and support ongoing development projects across Uttar Pradesh. However, the political clash over the Ram Temple donation theft controversy dominated the first day of the Assembly session, pushing the financial proposals into the background.

The upcoming discussion on the supplementary budget is expected to see further debate between the government and Opposition as the session progresses.

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