A joint team of the Enforcement Directorate and the CBI will travel to the tax haven nation of British Virgin Islands in connection with its probe against various entities in the 2G spectrum allocation case.
India has signed a pact with the British Virgin Islands to check tax evasion and money laundering.
India's outward foreign direct investment (FDI) plummeted by 47.9 per cent year-on-year to $3 billion in June 2026, according to the Reserve Bank of India (RBI), with declines across equity, debt, and guarantee commitments.
The International Cricket Council (ICC) has announced the qualification criteria for cricket's return to the Olympics at Los Angeles 2028. The Indian men's team needs to be Asia's highest-ranked in T20Is by end of 2026, while women's teams will qualify based on continental performance in the ongoing T20 World Cup.
New financial investment funds, including Filmoney Global and CineNow, are entering the 22,000 crore Indian film business, aiming to establish Indian cinema as a new asset class for high-net-worth individuals and institutions, similar to the IPL.
The Indian women's cricket team has secured a spot in the 2028 Los Angeles Olympic Games as the top-ranked Asian team in the ongoing T20 World Cup. The men's team will need to be the continental leaders in world rankings by the end of 2026 to qualify directly. Cricket is making its return to the Olympics after a century, featuring six teams in both men's and women's competitions, with qualification criteria unveiled by the ICC.
The Reserve Bank of India (RBI) has mandated that banks must dispose of immovable assets acquired against bad loans within seven years through public auction, effective October 1, 2026, and has also barred their sale back to the original borrower or related parties.
Julien Alfred became the third-fastest woman in 200m history with a 21.51-second win, while Emmanuel Wanyonyi broke a 27-year-old world record in the rarely contested 1,000m at the Monaco Diamond League.
The East India Company, revived by Indian businessman Sanjiv Mehta in 2010, has ceased operations and entered liquidation, marking the end of its modern incarnation.
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
The Enforcement Directorate has questioned Niranjan Hiranandani, the promoter of prominent Mumbai-based realty company Hiranandani Group, in a foreign exchange violation case, official sources said Monday. Niranjan Hiranandani and his son Darshan Hiranandani were asked to join the investigation by the central agency at its office here as part of a probe being conducted under the Foreign Exchange Management Act (FEMA).
Here is the complete list of tariffs imposed by US President Donald Trump on Wednesday.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
India signed a Tax Information Exchange Agreement with Bermuda on Thursday, the first in a series of such pacts.
Switzerland and Caribbean islands? Sure. But Alaska and Nevada are getting in on the game.
What has surprised the industry is that the Bill has been tabled without any consultation. Critics warn the ban on real-money gaming could fuel black markets, endanger 200,000 jobs and billions in tax revenue.
Obama and his wife Michelle are enjoying their new-found freedom holidaying in the British Virgin Islands with British billionaire Sir Richard Branson. Sir Richard posted an online blog showing pictures and video of the former president kitesurfing at his private island.
While UBS acted as master client for offshore firms, Sharecorp was a nominee of Indian beneficiaries.
Britain has become the biggest foreign investor in India with an investment of 560 million, according to a report on investment flows by the Commonwealth Business Council (CBC).
The United States has forfeited properties worth US$ 2.1 million which were allegedly purchased with the proceeds of bribes paid to the family of former Taiwanese president, Chen Shui-bian.
Raninder Singh has been asked to depose at the central probe agency's office in Jalandhar on October 27, they said.
With Google CEO Larry Page's wedding planned for Dec. 8, BusinessWeek takes a look at what billionaires risk when they tie the knot.
Jamaican sprint queen Elaine Thompson-Herah romped to victory in the 200 metres and Uganda's Jacob Kiplimo held on to win the men's 5,000m to complete contrasting Commonwealth Games golden doubles at Alexander Stadium on Saturday.
India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.
Karnataka HC seeks probe into fund diversion by United Spirits.
The Central Bureau of Investigation will file its final chargesheet on Rs 14,000-crore (Rs 140 billion) Satyam fraud after receiving responses to the Letters of Rogatory (LoR) seeking information in this regard from six countries, Parliament was informed on Thursday.
Upaid claimed it had served requests for production of documents related to the 'now scuttled Maytas transfers on Satyam' on Friday, but now had to submit this motion to the court 'because Satyam had repeatedly resisted its efforts to depose Raju and Vadlamani in the case.' The current motion is in reply to a disparagement case that Satyam had filed against Upaid wherein the former had claimed that the payment services firm has been disparaging them in the public domain.
Most investments by Indian corporate houses in the overseas market is through countries that have either low tax rates or allow tax-free remittance of income. Much of the outward foreign direct investment (FDI) by India Inc done between April and December 2007 was directed to Singapore, the Netherlands and British Virgin Islands (BVI), according to the latest Reserve Bank of India data. RBI said the actual outward FDI in April-December 2007 grew 13 per cent at $10.11 billion.
The company will also make a $500 million (Rs 2,000 crore) investment through the acquired company in the next 2-3 years to build and acquire WiMax networks across 50 countries. Worldwide interoperability for microwave access or WiMax is a telecommunications technology that provides wireless data over long distances through various mediums. This is the third acquisition by the company as it had acquired US-based ethernet services provider Yipes Holdings for $300 million.
Celestial Overseas Ventures, a British Virgin Island-based investor, plans to acquire five per cent stake in electronics major BPL Limited, thus taking up the foreign equity component in the Bangalore-based firm to 5.57 per cent.\n\n\n\n
Formula One world championship leader Nico Rosberg's contract with the Mercedes team has shown up in the Panama Papers, leaked documents which reveal offshore financial dealings, German broadcaster ARD reported on Monday.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
Becoming the first casualty of the Panama Papers scandale, Iceland's Prime Minister Sigmundur David Gunnlaugsson resigned on Tuesday.
Three deaths have been reported and there are fears of more fatalities.
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
14-year-old squash player Anahat Singh was too good for Jada Ross of St Vincent and the Grenadines in an 11-5, 11-2, 11-0 victory in the Round of 64 women's singles competition in Birmingham on Friday.
A leak of 11.5 million tax documents has revealed how the rich and powerful use tax havens to hide their wealth.
