It has been a difficult year for the world's second-largest economy.
The court said a 'scam was created when there was none'.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
'I am not surprised that hubris brought Chanda Kochhar down. It would appear that as a person she thought she could do no wrong and as a leader she considered herself above what her company demanded of others in terms of financial probity and honesty. That, my friends, is NOT a good way for a leader to feel,' says S Muraleedharan, former managing director, BNP Paribas.
Poddar-Mallya agreement on running MCF likely to be re-worked.
The 200-page supplementary cited 1,549 additional documents, 301 more witnesses and nine material objects. The CBI filed the first chargesheet on April 7.
While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
MCX-SX on Friday said the rights issue would now close on April 17.
The commission had rejected the theory that it was a spontaneous act by karsevaks whereas the CBI court has ruled that there was no evidence that demolition was a conspiracy.
A Delhi court Wednesday issued summons to former Union minister P Chidambaram and his son Karti in the INX Media money-laundering case on taking cognisance of the charge sheet filed by the Enforcement Directorate (ED) against them.
CBI's press information officer and spokesman R K Gaur said the editorial "gives the impression" that action is not being taken against other big loan defaulters and that the raids on NDTV's founders were a part of a "vendetta" against the broadcaster.
RBI has cited "legal impediments" in sharing the reports.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
The first high-level meeting of the Special Investigation Team on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held in New Delhi on Monday.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
'It was like a doctor giving some simple pain killers to a patient in dire requirement of chemotherapy.' 'There was no sense of urgency or desperation in this particular Budget.'
As per the norms, sanction for prosecution has to be decided within four months time of the CBI seeking such a permission.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
Finance Minister Arun Jaitley presented the Union Budget.
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
According to the consumer affairs department, these chit funds are operating at a small level.
The case of alleged bribery of Syndicate Bank Chairman-cum-Managing Director S K Jain may come up for discussion in the meeting of Special Investigation Team on black money, as it is a "classic" case of how proceeds of corruption were transferred through hawala channels.
LIC, ICICI Bank, PNB to have nominees on board; firm asked to sell non-core assets.
The Supreme Court appointed Special Investigative Team, which is looking into the black money cases, on Thursday said it will go after the offenders "big or small" but also made it clear that the confidentiality of account holders abroad will not be violated.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
A glance back at some important events that occurred in 2018.
Here are the many pros and some cons of going for such an arrangement
Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
'The autonomy of essential institutions is clearly under question as the Modi government seeks to influence them politically.' 'The credibility of institutions such as the EC, the CBI, the CVC, the UPSC, the RBI, media, and universities, has been compromised,' notes Zoya Hasan, the distinguished political thinker.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
Wilful defaulters will not be allowed to take up board positions in any company.
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