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ED arrests controversial billionaire meat exporter Moin Qureshi

Published

8 years ago

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[vc_row][vc_column][vc_column_text]The AMQ Agro founder, who has been booked under provisions of the Prevention of Money Laundering Act (PMLA), is also said to be one of India’s biggest income tax defaulters and earlier reports have claimed that he is suspected of stashing at least Rs 200 crore in tax havens abroad

Controversial billionaire meat exporter and owner of AMQ Agro, Moin Akhtar Qureshi, was arrested late on Friday night in the national capital by the Enforcement Directorate (ED) in connection with a money laundering probe against him and others.

Qureshi had reportedly been called in for questioning by the probe agency which claimed that he had not been cooperative during the interrogation  which forced its sleuths to place him under arrest.

Qureshi, who is alleged to be one of India’s biggest income tax defaulters, has been arrested under provisions of the Prevention of Money Laundering Act (PMLA). He had been questioned on multiple occasions earlier by the ED in connection with money laundering charges, allegations of income tax evasion and stashing undisclosed, illicit income – a staggering Rs 200 crore by some estimates – in foreign tax havens.

ED sources said that in the latest FIR filed against Qureshi, former CBI Director AP Singh has also been named. Although details of what allegations have been made against Singh in the FIR are not known yet, the former CBI director has claimed that he is “being targeted” by some vested interested.

Qureshi, who hails from Kanpur in Uttar Pradesh and is an alumnus of the prestigious Doon School, Dehradun and St Stephen’s College, New Delhi, is said to share a close personal rapport with at least two former CBI directors – AP Singh and Ranjit Sinha, besides also having strong connection across political parties of all hues, especially the Congress party.

As Qureshi was being produced in the Patiala House Court by the ED officials, Congress spokesperson Abhishek Manu Singhvi told media persons at the party’s briefing: “I think you should ask the official spokespersons from these agencies (ED and Income Tax) why there was a delay in taking action (against Qureshi), as from what we hear from newspapers, it is an old case”. Singhvi was responding to questions from journalists about the Congress party’s reaction to Qureshi’s arrest when he also said: “I don’t think it’s right or fair for a political party to comment on an ongoing investigation.”

The ED, in a statement, said that its probe has revealed facts which “constitute omission and commission of certain acts on the part of certain public servants holding high positions in the public office in collusion with Qureshi, thereby huge amount of illegal money was found to have been transacted”. Qureshi had, in 2015, also been booked under provisions of PMLA by the ED following an Income Tax prosecution complaint.

Sources say that the records collected by the ED from the Income Tax department have “revealed that Qureshi had taken huge amount of money from different persons for obtaining undue favours from public servants after exercising his personal influence”.

The ED officials claim that these records include messages exchanged through Blackberry Messenger (BBM) between Qureshi and some persons accused in other criminal cases and also persons who wanted to seek undue favours from other investigating agencies of the government by getting them off the hook.

The ED alleged that Qureshi “obtained huge amount of money and it was obtained in the name of government servants or political persons holding public office and the said public servants either obtained the money for themselves or through their kin illegally.”

There were also BBM exchanges between Qureshi and former CBI chief AP Singh, which are being probed both by the ED and the CBI as part of a separate criminal investigation. However, the contents of these messages have not been declared by the probe agency as yet.

The ED has also claimed that an analysis of BBM messages retrieved from Qureshi’s mobile phones and those of his associates revealed that hawala operators were also used to transfer bribe money received from government officials to foreign locations in France and the United Kingdom.

A statement issued by the ED said: “Qureshi has extorted crores of rupees from a businessman from Hyderabad in lieu of the help provided. He was found involved in hawala transactions through Delhi-based hawala operators.”

It may be recalled that Qureshi is facing separate probes by the I-T department and the CBI for alleged tax evasion, money laundering and corruption among others. I-T officials are investigating Qureshi under the new Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. The case had emerged after the I-T department carried out searches against Qureshi and his companies in February, 2014.

The billionaire meat exporter had first come under the IT scanner in 2011 when for an event hosted in Dubai as part of his daughter Prerna’s wedding celebrations, he had flown in famous Pakistani singer Rahat Fateh Ali Khan. Khan was detained on his way back by Directorate of Revenue Intelligence officials at the Indira Gandhi International Airport in the national capital for not disclosing foreign currencies amounting to about Rs 60 lakh in cash – apparently taken as fee from Qureshi for the performance.

In mid-October last year, Qureshi had hit the headlines when he was briefly detained by security officials at the Indira Gandhi International Airport in the national capital when he was about to board a flight for Dubai.[/vc_column_text][/vc_column][/vc_row]

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RBI cuts repo rate to 5.25%, paving the way for cheaper loans

The RBI has cut the repo rate to 5.25%, aiming to support growth as inflation softens. The central bank also raised GDP projections and announced liquidity-boosting measures.

Published

4 hours ago

on

December 5, 2025

By

Reserve Bank of India

The Reserve Bank of India (RBI) reduced the key repo rate by 25 basis points to 5.25% on Thursday, signalling relief for borrowers as banks are expected to offer lower EMIs on home and vehicle loans. Governor Sanjay Malhotra announced the move after the conclusion of the three-day Monetary Policy Committee (MPC) meeting.

RBI prioritises growth as inflation eases

Malhotra said the decision was unanimous, with the central bank choosing to focus on supporting economic momentum despite concerns over a weak rupee. The repo rate was earlier cut in June from 6% to 5.5% amid easing inflation trends.

The RBI now projects Consumer Price Index (CPI) inflation at 2% for FY2025-26, significantly softer than earlier estimates. For the first quarter of FY2026-27, inflation is expected at 3.9%, lower than the previous projection. The governor noted that rising precious metal prices may contribute to the headline CPI, but overall risks to inflation remain balanced.

GDP outlook strengthened

In a strong upward revision, the central bank increased the GDP forecast for the current financial year to 7.3%, previously estimated at 6.8%. Growth for the October–December quarter has also been revised to 6.7%.

The last quarter registered a six-quarter high expansion of 8.2%, reflecting resilient demand and steady credit flow.

“The growth-inflation balance continues to offer policy space,” Malhotra said, reiterating that the RBI’s stance remains neutral.

Other key decisions

Alongside the repo rate cut, the RBI announced adjustments to key policy corridors:

  • Standing Deposit Facility (SDF): 5%
  • Marginal Standing Facility (MSF): 5.5%

To improve liquidity and strengthen monetary transmission, the RBI will conduct forex swaps and purchase ₹1 lakh crore worth of government bonds through Open Market Operations (OMO).

RBI reviews a challenging year

Reflecting on 2025, Malhotra said the year delivered strong growth and moderate inflation even as global trade and geopolitical uncertainties persisted. He added that bank credit and retail lending remained healthy, providing support to the economy.

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IndiGo flight chaos deepens as over 500 services cancelled, passengers stranded for hours

Over 500 IndiGo flights were cancelled nationwide, leaving passengers stranded without food, clarity or their luggage as airports struggled to manage the disruption.

Published

4 hours ago

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December 5, 2025

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IndiGo flight

India’s largest airline continued to face massive operational breakdowns, triggering frustration among travellers at major airports across the country. From piles of unattended suitcases to passengers waiting over 12 hours without food or clarity, the disruption stretched into its fourth consecutive day.

Long delays, no communication leave passengers anguished

Several travellers at Delhi airport described the situation as “mental torture”, as thousands of unclaimed suitcases lay scattered across the terminal. Many slept on the floor, while others expressed anger over the lack of communication from airline staff.

One flier said he had been waiting for over 12 hours without any explanation: “Every time they say one-hour or two-hour delays. We were going to a wedding but don’t even have our luggage.”

A passenger in Hyderabad recounted a similar ordeal, saying the flight was delayed indefinitely with no food, water, or updates from the airline. At the airport, some travellers blocked an Air India flight in protest over the lack of arrangements.

Goa and Chennai airports also witnessed tense moments. Videos from Goa showed fliers shouting at IndiGo staff as police attempted to calm the situation. At Chennai, CISF denied entry to IndiGo passengers due to heavy congestion.

Major metro airports impacted; cascading cancellations nationwide

Flight cancellations and delays were reported across multiple airports:

  • Over 200 flights were cancelled in Delhi
  • More than 100 each in Mumbai and Bengaluru
  • Around 90 in Hyderabad
  • Dozens more in Pune, Vishakhapatnam, Chennai and Bhopal

Pune airport stated that parking bay congestion worsened the situation, as several IndiGo aircraft remained grounded due to lack of crew. Other airlines continued operations without disruption.

Airport authorities said they had mobilised additional manpower for crowd control and passenger support.

IndiGo admits planning lapses, says more cancellations expected

The airline acknowledged a “misjudgment” in assessing crew requirements under revised night-duty norms, which it said created planning gaps. Winter weather and airport congestion further aggravated the crisis.

IndiGo informed the aviation ministry and DGCA that some regulatory changes—such as the shift in night-duty timings and a cap on night landings—have been rolled back temporarily to stabilise operations.

The airline warned that cancellations may continue for another two to three days, and from December 8, schedules will be trimmed to prevent further disruption.

In a message to employees, CEO Pieter Elbers said restoring punctuality would not be an “easy target”.

Airline issues apology amid nationwide frustration

In a late-night statement, IndiGo apologised to customers and industry partners, acknowledging the widespread inconvenience caused by the disruptions. The airline said all teams were working with authorities to bring operations back to normal.

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Delhi to install 305 mist sprayers across 9 major pollution hotspots

Chief Minister Rekha Gupta announced that 305 mist sprayers will be installed across nine pollution hotspots in Delhi, alongside expert-led planning and coordinated measures to reduce dust and biomass-related pollution.

Published

19 hours ago

on

December 4, 2025

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Delhi-NCR air quality

The Delhi government has announced a large-scale deployment of mist sprayer technology to tackle rising air pollution, with Chief Minister Rekha Gupta confirming that 305 mist sprayers will be installed across nine pollution hotspots in the capital.

Mist sprayers to curb dust at critical locations

During an inspection at ITO, Gupta said the mist sprayers already operational at the site are performing effectively. She noted that 35 poles at ITO have been fitted with these machines, which are helping suppress dust—a major contributor to air pollution in Delhi.

According to the Chief Minister, trials conducted in certain NDMC areas have shown promising results, reinforcing confidence in the technology.

High-level committee to guide pollution-control measures

Gupta announced the formation of a high-level expert committee that will advise the government on effective measures to reduce pollution. The panel will include senior officials from various departments as well as environmental specialists, including experts from IITs. Officials stated that the committee will receive special powers to implement pollution-mitigation strategies.

Departments directed to repair roads, add greenery

The Chief Minister said departments including PWD, DSIIDC and DDA have been instructed to fix potholes, repair and carpet roads, plant foliage along dividers and islands, and take other measures to reduce pollution sources.

She urged residents to report potholes on the government portal for quicker action.

Appeal to RWAs to prevent biomass burning

To curb winter pollution, Gupta advised Resident Welfare Associations (RWAs) to distribute electric heaters to security guards to discourage biomass burning, which significantly contributes to seasonal pollution spikes.

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