Enforcement Directorate Seizes Rs.590 Mn Assets of Ireo and Others

22 May 2024 CW Team

The Enforcement Directorate (ED) has seized assets worth ?590 million belonging to real estate firm Ireo and its associates as part of an ongoing investigation. The action follows allegations of financial irregularities and money laundering against the company.

According to ED officials, the attached assets include properties located in various regions, which are suspected to have been acquired using illicit funds. Ireo, a prominent player in the real estate sector, has been under scrutiny for alleged financial misconduct related to its business operations.

The ED's move is aimed at preventing the disposal of these assets as the investigation progresses. It underscores the agency's efforts to crack down on economic offences and ensure accountability within the real estate industry.

This development comes amidst increasing regulatory scrutiny in the sector, with authorities stepping up efforts to tackle financial crimes and safeguard investor interests. The attachment of assets signals a significant escalation in the investigation against Ireo and highlights the ED's commitment to pursuing cases of financial malpractice rigorously.

Investigations into Ireo's financial dealings are ongoing, with the ED working closely with other regulatory bodies to gather evidence and build a comprehensive case. The outcome of this probe is anticipated to have broader implications for transparency and compliance within India's real estate market, impacting how companies conduct their business operations moving forward.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..