The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
'Individuals have been found providing money to major terrorist groups, Hurriyat leaders, separatists and stone-pelters in Jammu and Kashmir.'
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
A local Mumbai court on Tuesday remanded the senior Nationalist Congress Party leader and former Maharashtra Public Works Department Minister Chhagan Bhujbal in the custody of Enforcement Directorate till March 17, a day after he was arrested in a money laundering case in connection with the Maharashtra Sadan scam.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL. FRL contended before a bench of Chief Justice D N Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it's more than 25,000 employees would be without any livelihood. Senior advocate Harish Salve, appearing for FRL, told the court that the US-based e-commerce giant was only concerned that the Mukesh Ambani group company should not get the shops as they are a competitor of Amazon.
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
ED lawyer Hiten Venegaonkar contended that huge amount of money was laundered and Shah's acts constituted a very serious economic offence
The Enforcement Directorate on Friday slapped a money laundering case against former Indian Air Force chief SP Tyagi and 20 others in the Rs 3,600-crore AgustaWestland VVIP chopper deal to probe alleged kickbacks of Rs.360 crore.
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
Shortly after arrest, BJP state headquarters in Kolkata was attacked allegedly by members of TMC student wing.
A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. "As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt," Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the high court. "I have to decide if there is a real prospect of payment of petition debt in full within a reasonable period of time... there is insufficient evidence that [Mallya's asset realisations in India] will pay the debt in full within a reasonable period of time," Judge Briggs noted, in reference to defence arguments pointing to a restoration process in India following a Prevention of Money Laundering Act (PMLA) court order for the attachment of Mallya's assets.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
'Information trickled in that these phone numbers were switched off when there were blasts in Jaipur, Ahmedabad, and at the time of the Delhi blasts.
In the matter pertaining to acquisition of AgustaWestland helicopters, the undisputed central issue that stands out is corruption, especially bribery, the statement said.
Finance Minister Piyush Goyal said the instances of people running away and evading the legal process was increasing and this needed to be stopped, as the current laws do not allow fully dealing with the severity of the problem.
The street-fighter attitude is what keeps Rane going even at 69. The expectation is -- at least in the BJP camp -- that he will be itching for a battle royale with the Shiv Sena in its bastions.
The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.
Such measures are expected to further enhance the protection of investors in the securities market
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
A group of four-five 'Nihangs' (Sikhs armed with traditional weapons and dressed in loose blue top) were travelling in a vehicle and they were asked to stop at a vegetable market by the Mandi board officials at around 6.15 am, police said.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
The 'Indian story' will be badly damaged if the Modi government is not re-elected, argues investment banker Christopher Wood.
At present, Sebi norms bar wilful defaulters from issuing convertible debt instruments.
Analysts say the Sun Network's fundamentals may be sound but the troubles faced by Maran have caused a lot of volatility.
The Tamil chief minister suffered a heart attack on Sunday evening.
'We have to rise over our divisions.' 'Divisions within us allow unscrupulous politicians to divert attention from issues like corruption and governance.'
In a strongly worded legal notice to FabIndia Chief Executive Officer Viney Singh, KVIC's director (legal affairs), noted that the organisation was continuing to sell its garments in the name and style of Khadi despite earlier warnings by KVIC and assurances by FabIndia that it will not continue do so.
Altaf Ahmed Lal, country head of the US Food and Drug Administration (US FDA) in India, has quit and so have a few other key officials at the American drug regulator's India office.
With the home ministry rejecting the renewal of broadcast licences to Sun group, is it end of the road for Maran brothers? R Ramasubramanian reports from Chennai.
The agency has registered a case against Roy, his wife Radhika and RRPR Holdings for allegedly causing losses of Rs 48 crore to ICICI Bank, CBI sources said.
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
At a time when the asset quality of state-owned banks is deteriorating, the Reserve Bank of India is also planning harsher penalties for wealthy promoters of wilful defaulters.
Bahujan Samaj Party chief Mayawati on Sunday cautioned voters that neither an Samajwadi Party-Congress alliance nor a united SP can check Bharatiya Janata Party and that only her party would render a crushing blow to Modi government by defeating the saffron party in Uttar Pradesh so that it does not take "immature" steps like the note ban.
A Delhi court on Saturday sent former Air Force Chief S P Tyagi, arrested in Rs 450 crore Agusta Westland bribery case in procurement of 12 VVIP helicopters, to police custody for four days after the CBI said he was needed to be quizzed to unearth a "very large conspiracy having international ramifications".
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
At first look, the reader would be aghast at the similarities in the DMK and AIADMK's manifestos, wondering if the same hand had drafted both. Yet, when it comes to drinking water and irrigation supplies, both parties are equally silent on the subject -- as if summer did not exist, as didn't water scarcity, says N Sathiya Moorthy.
The youths had earlier objected to being disciplined by the policeman Niteen Dondu Dagale.
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