The central probe agency had filed a money laundering case to probe the deal and is carrying out the action to collect evidence under the Prevention of Money Laundering Act (PMLA), officials said.
BSE's, NSE's overnight liquid fund facility can help stock investors maximise returns
India is one of the five countries where instances have been found that trade accounts of diamond business are being used to launder illegal funds to the tune of millions of dollars, according to a report by a global financial crimes combating body.
FinMin's project will enable tax man to track electronic transactions like RTGS or NEFT.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
The biggest problem is that those with Aadhaar numbers aren't coming forward for seeding these with bank accounts.
Some ex-MLAs from Punjab, too, had received similar threats from these numbers. The callers spoke to them in Mumbai accent and in Punjabi, the IGP said.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
They had earlier been arrested by the Manipur police in September last year when they were allegedly extorting money by wearing police uniforms and carrying sophisticated weapons, the officials said.
The Enforcement Directorate on Friday said it has issued a show cause notice to the country's largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA). WazirX, registered under the company named Zanmai Labs Pvt Ltd, was incorporated in December, 2017 as a domestic cryptocurrency start-up and its directors Nischal Shetty and Hanuman Mhatre, along with the company, have been named in the notice issued by the central probe agency after completion of investigation. The agency issued a statement saying that it stumbled upon the transactions of the company during an ongoing money laundering probe into the "Chinese-owned" illegal online betting applications.
The deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money' and they actively support India in its fight against tax fraud and evasion.
Money saved is money earned, and cutting down your expenses could well be the single-most important step towards an organised financial life. Naval Goel shows you how to keep your finances organised.
'The vision now is not just to look at national highways as a number of kilometres, but quality as well.'
The Delhi high court on Wednesday allowed Chinese smartphone maker Vivo to operate its various bank accounts frozen by the Enforcement Directorate in connection with a money-laundering probe subject to furnishing of a bank guarantee of Rs 950 crore within a week with the agency. Justice Yashwant Varma also directed the company to give details to ED about its remittances and issued notice to the investigating agency on Vivo's plea seeking quashing of the order freezing its various bank accounts. ED contended that presently the proceeds of crime have been quantified to Rs 1200 crore.
While Indians are increasingly using mobile platforms and technology for various financial transactions and purchases like bill payments, ticket bookings, entertainment, travel and banking transactions, cross border mobile remittance is yet to see the light of the day.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
Nearly 665 million Indians or 45 per cent of the rural population did not have access to the internet as of 2023. Difficulty in understanding internet procedures, insufficient awareness of its benefits, and a lack of interest have emerged as the top reasons for a gap in internet penetration in rural India, according to a joint report by the Internet and Mobile Association of India (IAMAI) and Kantar. "The proficiency of English in rural India is very low. While we have content in Hindi, the internet is English-heavy.
Central Bureau of Investigation questioned the Income Tax officials, whose names were allegedly found in a register recovered from the residence of Chennai-based chartered accountant A Krishnamurthy
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
The Narcotics Control Bureau on Tuesday claimed to have busted the "biggest" darknet-based LSD cartel operating in India with the seizure of more than 13,000 blots and Rs 26 lakh in cash and the arrest of three persons.
An allocation to ESG theme funds can bring down the overall risk of an equity portfolio. Investors with long-term financial goals, such as retirement, should not ignore sustainable investing.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Price Waterhouse Chartered Accountants (PwC India) has resigned as the auditor of Paytm Payments Services, the fintech major said in a regulatory filing on Monday. "...we wish to inform you that M/s. Price Waterhouse Chartered Accountants LLP ... statutory auditors of material subsidiary i.e. Paytm Payments Services Limited (PPSL) have resigned with effect from August 7, 2023," the company added. Paytm said that the statutory auditors had not raised any concerns or issues and that the company had noted PwC's resignation.
The government has already implemented one of its five poll guarantees, "Shakti", by providing free services for women in public transport buses.
The Swiss National Bank, the country's central banking authority, has estimated the funds currently held by Indians in Swiss banks at a mere $1.98 billion. Fear of disclosure due to greater scrutiny of this illicit wealth has played the main role in the flight of capital.
Investors should keep updating their personal and bank details with fund houses. They should also opt for the auto-pay facility so that the dividend proceeds get credited into their account directly, advises Bindisha Sarang.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The SMS-based application extends DBT's payment architecture to individuals, where their Aadhaar number will be linked to their bank accounts at the back-end.
The persons nabbed have been identified as Perwez Ahmed, Mohd Ilias and Abdul Muqeet (arrested from Delhi) and Shafeeque Payeth who was taken into custody by the ED from Kerala.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The currency in circulation (CIC) declined by Rs 7,600 crore in the Diwali week, making it the first such happening in two decades, a report said on Thursday. This was made possible courtesy of a greater reliance on digital payments by people, the report by economists at SBI said, adding that the Indian economy is undergoing a structural transformation at present. They clarified that the Diwali week in 2009 had also witnessed a marginal Rs 950 crore decline in currency in circulation, but that was purely due to the economic slowdown amid the global financial crisis.
The family lawyer said he was getting "frustrated" by the delay in the CBI taking a decision in the case.
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
The deadline of March 31 has been postponed till the apex court delivers its final judgment.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
FY14 sees 16% decline in adjustments; department adds only Rs 59,000 crore to the profits attributed by multinationals, against Rs 70,000 crore a year ago
The terrorists had spent around Rs six lakh on procurement of explosives and the Maruti Eeco car used in the attack, the NIA said in its chargesheet.
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