Congress president Sonia Gandhi has sought more time from the Enforcement Directorate to appear before it as she is still suffering from Covid, party sources said on Tuesday.
Official sources said on Wednesday, that the "source probe" commenced after a controversy broke out this week over the share holding patterns of the a consortium led by Rendezvous which bagged IPL's Kochi franchise. The probe is only to determine the source of funds though there is no specific input that fuelled suspicions, the sources said.
Gandhi, 75, was earlier asked to depose on June 8 but she sought a fresh date from the federal probe agency after she contracted the coronavirus infection.
The Enforcement Directorate has issued a fresh summons to Trinamool Congress member of Parliament Abhishek Banerjee, asking him to appear before it for questioning on March 29 in a money-laundering case linked to an alleged coal scam in West Bengal, officials said on Thursday.
The case was registered recently to probe alleged financial irregularities in the party-promoted Young Indian that owns the National Herald newspaper.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
The Income Tax department and Enforcement Directorate have been asked by the government to pull up their socks and expedite disposal of cases related to terror financing in various parts of the country.
Initially, she was summoned by the agency on Monday but it was deferred by a day.
Rashtriya Janata Dal chief Lalu Prasad on Monday declined to comment on the ongoing probe into the alleged hawala transactions and investments involving former Jharkhand chief minister Madhu Koda. "I will not comment as the topmost investigating agencies, the Enforcement Directorate and the Income Tax Department, are conducting their probe. The media should not be a police officer nor is it competent (to reach conclusions)," Prasad told reporters.
Former Jharkhand Chief Minister Madhu Koda, against whom the Enforcement Directorate and the Income Tax Department are investigating money laundering charges, will not be discharged from hospital on Saturday, as he has an upset stomach. Koda got himself admitted to the hospital on complaints of stomach pain on November 3, after the launch of Income Tax raids on his residence in connection with alleged hawala transactions and illegal investments, amounting to Rs 2000 crore.
The country-wide raids by the Income Tax teams on properties allegedly owned by former Jharkhand chief minister Madhu Koda and his associates continued for the second day on Sunday.
The searches, which began at 9:30 am, were carried out after the Enforcement Directorate registered a case against 38-year-old Koda for alleged money laundering and diversion of state funds.
Congress leader Rahul Gandhi appeared before the Enforcement Directorate (ED) on Wednesday for the third consecutive day of questioning in the National Herald money laundering case, with the agency seeking answers on decisions taken with regard to the media organisation and its owner Young Indian.
He said the new short-term treasury bills will be part of the government's same borrowing programme. To meet its burgeoning expenditure, necessitated by the slowing down economy, the government has pegged its market borrowing at over Rs 4.5 lakh crore (Rs 4.5 trillion) for the current fiscal, bulk of which is being raised in the first half.
It proposes to bring down the corporate tax from the current 35 per cent to 15 per cent, significantly lower individual tax rates, and eliminate several tax rates like the death tax.
Even as the Income Tax department is probing the financial dealings of the money-spinning Indian Premier League, the Enforcement Directorate (ED) will look into the alleged murky international deals of the Twenty20 tournament. Official sources said the Mumbai wing of the ED had conducted a discreet inquiry into the finances of Rajasthan Royals in 2008 and had prepared a report of alleged Foreign Exchange Management Act (FEMA) violations.
Former CBI Director A P Singh, who ran into rough weather over his purported links with controversial meat exporter Moin Qureshi, has resigned as UPSC member after a special court in Mumbai termed charges levelled against BJP President Amit Shah in fake encounter cases as being "politically" motivated.
Regulator finds broker trading through conduits; 26 entities barred from market.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
Air India had stopped the practice of issuing tickets on credit to government agencies for the travel of their officials in December last year because of accruing pending bills.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
The Rs 4,000-crore money laundering scam involving former Jharkhand chief minister Madhu Koda has taken a new turn today with the Enforcement Directorate pointing fingers at five Indian Administrative Service (IAS) officers.
Former Jharkhand Chief Minister Madhu Koda, who failed to appear before the Enforcement Directorate on Thursday, has sought time for his appearance, saying his documents are not ready. Koda, along with his associates, has been accused of being involved in a Rs 2000-crore hawala scam.According to one of his advocates, Koda has sought time as some of his documents, wanted by the ED, were either with the Income Tax Department or with the State Vigilance Department.
In 2005, Koda had movable assets worth Rs 13 lakh, and by 2009, they rose to over Rs 94 lakh. His immovable assets also doubled to over Rs four lakh during this period. These disclosures were made by Koda himself -- first in the affidavit he filed with the Election Commission at the time of contesting the assembly elections in 2005 and then earlier this year when he fought the Lok Sabha polls.
Did the ill-gotten money of former Jharkhand chief minister Madhu Koda and his associates, who are allegedly involved in the Hawala and illegal investments case, find its way to Naxal groups?
Former Jharkhand Chief Minister Madhu Koda will be questioned by the Income Tax officials in Ranchi on Tuesday over an alleged Rs 2,000 hawala transaction case.
In a big relief to Samajwadi Party chief Mulayam Singh Yadav, the Central Bureau of Investigation closed a six-year-old disproportionate assets case against him on Friday citing lack of evidence.
Farmers have either dropped or delayed sowing of summer crops due to poor rains.
"You cannot play hide and seek with the court," Justice Suresh Kait said.
The Income Tax department has issued notices to Knight Riders Sports Private Limited and Gameplan Sports to appear before it in connection with the recent search operations at the offices of the two entities.
ED sought his custody for seven days, claiming it had knowledge of unidentified assets which value more than Rs 500 crore and his custodial interrogation was required.
'We always know on whose house the raid was conducted, and how much money was recovered.' 'We never know what happens inside when the raid is going on.'
The Congress is gearing up to demonstrate a political show of strength on Monday when the party leader Rahul Gandhi will appear before the Enforcement Directorate (ED) in connection in connection with a money laundering case linked to the National Herald newspaper.
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
Proof of disgraced Satyam founder Ramalinga Raju's political influence--an issue that is being widely discussed following his January 7 confessions of fraud--was strongly in evidence as far back as 2002, when his company was at the height of its success.
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