Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
Custom authorities have been keeping strict vigil on the cargo movements from Bhutan, Taiwan, China, Afghanistan, South Korea Japan, and Dubai since January.
The revenue department has not seen a single deposit, owing to the outbreak of the COVID-19 pandemic.
Experts said the rules will help curb market manipulation and money laundering, which could take place during the transfer of shares between residents and NRIs.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
The objective is to ensure the exchange's preparedness in the event of a natural calamity, so that any disruptions should not affect market integrity and investor confidence.
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