Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
It is the biggest issue we have ever faced in the securities market, where a sensitive and systemically important institution and first-line regulator was not only exploited by unscrupulous elements but functioned like a private fief, points out Debashis Basu.
The ED was probing the allegation that Hussain and his linked persons laundered about Rs 1.10 crore by using purported shell or dummy companies to fuel protests against the Citizenship Amendment Act (CAA) and the riots.
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Markets regulator Sebi on Monday imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender's AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of violation. They need to pay the penalty within 45 days, Sebi said in its order.
Soon after a Congress delegation approached it on the issue, the poll panel formed two teams to probe the allegations.
Without giving specific details, Sebi said that SBI was being probed for 'alleged violation of regulations' contained in as many as 11 sections, sub-sections and clauses, including those related to the Code of Conduct, of the Securities and Exchange Board of India (Debenture Trustees) Regulations.
A division bench of Justices Nitin Jamdar and Sarang Kotwal also rejected Shukla's prayer to transfer the case to the Central Bureau of Investigation.
In the past, the ministry had received complaints of alleged ponzi schemes at 73 companies of about a dozen different groups operating in West Bengal.
Violation of provisions of Sebi Act, Securities Contracts regulation, Prohibition of Fraudulent Trade (PFTUP) norms were not observed in respect of these 114 entities.
Cloned journals have become more rampant in the post-pandemic world.
Indian IT services provider Hexaware Technologies' stock on Monday closed at a four-year low on the Bombay Stock Exchange (BSE) after the company announced that it was conducting an "internal investigation" into "certain actively-concealed and potentially-fraudulent foreign exchange transactions conducted by a Hexaware official."
'With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history,' Trump tweeted on Thursday, just 96 days before the election. 'It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???' Trump said in his tweet, which was immediately condemned by the opposition Democratic party leaders.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
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
Immigration attorneys claimed that they knew nothing about the varsity's illegal operation and were trapped.
The ruling was made by the Securities Appellate Tribunal, an independent quasi-judicial body that rules on appeals against orders passed by the Sebi.
PNB is fully committed to its clean banking policy. That is why we are the first one to detect and report this to the various law enforcement agencies," PNB's CMD Sunil Mehta said on Thursday.
Government officials have lodged FIRs and slapped fines to the tune of Rs 1 crore on hospitals involved in frauds.
Two US Congress members have expressed doubts over the quality of inspections conducted by the US Food and Drugs Administration (FDA) on Indian drug manufacturing facilities.
In April 2015, the regulator issued a show cause notice to the bank for alleged violation of portfolio managers' norms with respect to one relationship manager.
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
The US House of Representatives impeached President Donald Trump by 232 to 197 votes for his role in last week's Capitol Hill riot, making him the first president in American history to be impeached twice.
Interception of electronic communication should also be covered in the powers being sought, the report said.
The Congress may approach the Supreme Court seeking expunction of some adverse remarks made by the Delhi high court in the National Herald Case in which Sonia Gandhi and Rahul Gandhi are among the accused.
Phishing means sending an e-mail that falsely claims to be from a particular enterprise (like your bank) and asking for sensitive financial information.
'Once Mohanlal's ever-swelling entourage grasped his enormous worth, once it realized that the innate Mohanlal appeal could be profited from, it set about to exploit, to make uproars, to create the Mohanlal brand.' 'And he wasn't meant to be a brand. He was meant to be an artist, a tireless explorer of the unique seas inside him,' asserts Sreehari Nair.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
The CBI said the RJD leader is likely to get involved in political activities and misuse the grant of bail ahead of upcoming Lok Sabha polls.
Karvy Computershare Pvt Ltd engaged in fraudulent activities with respect to certain initial public offerings in 2005, market regulator Sebi said.
While it's not difficult to fall prey to card fraud, individuals can protect themselves against losses.
Preliminary investigations conducted by capital markets regulator Securities and Exchange Board of India and inputs from other regulators and government departments suggest that some brokers were offering structured financial products to their HNI clients under some portfolio investments schemes for high returns of 10-20 per cent.
CBI is expected to issue summons to a number of other people and entities involved in the case in the near future
This was reflected in India Inc's lackadaisical attitude towards sensitising employees on fraud prevention.
An inquiry had been launched with officials under fire for issuing CNICs without legitimate documentation.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances