The Supreme Court on Tuesday dismissed journalist Rana Ayyub's plea challenging summons by the Ghaziabad special court in a money laundering case, leaving it open for her to raise the issues before the trial court.
NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
The move came after a Mumbai court recently issued a non-bailable warrant against the former IPL commissioner.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
The Enforcement Directorate (ED) has sought legal assistance from Singapore and Mauritius to take forward its probe in the alleged financial irregularities in the Indian Premier League tournament (IPL) and its former chairman Lalit Modi.
Budget 2016 may hold some answers to start-up cooncerns.
This warrant will be sent to the ministry of external affairs which in turn will be sending it to the United Kingdom
"The 'red bag' belonged to one of the hijackers, it contained explosives, and possibly, real passports, too.
Do not declare them under Income Tax.
Enforcement Directorate is jointly probing the case.
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs 251, for alleged contravention of FEMA.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
'India's edtech and start-up story will be in danger.'
PAN could be used by the probe agencies.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
Food chain rejects Bakshi's offer of Rs 1,800-cr for stake; CLB gives it till Nov 25 to make a counter-offer.
About Rs 8.33 crore cash has been seized from Delhi, Rs 2.5 from Bengaluru and Rs 60 lakh from Mysuru till now, a senior official said.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
The Enforcement Directorate moved a special court in Mumbai on Monday seeking issuance of a non-bailable warrant (NBW) against former Indian Premier League chief Lalit Modi in alleged money laundering case registered against him.
Such service providers were given time until the end of October to follow the law of the land.
The government notified the compliance window under the Act.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
Notification, FAQs likely after FM Jaitley returns from the US
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
The Delhi high court on Monday allowed journalist Rana Ayyub to travel abroad while questioning the Enforcement Directorate over a Look Out Circular (LOC) issued against her barring her from travelling abroad.
The company releases documentary showing top executives of dozens of realty firms offering to launder black money.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
The SIT on black money has widened its probe.
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their "financial transactions" such as operating and managing their client firms and trusts, and buying and selling business entities. The Union finance ministry issued a gazette notification on this on Wednesday. Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
National Disaster Management Authority had in 2016 suggested assistance offered as a goodwill gesture 'may' be accepted.
India's foreign exchange reserves are at an all-time high.
