A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
A shocking revelation that banking giants HSBC and Standard Chartered are suspected to have laundered money for drug cartels has prompted an in-depth inquiry by Indian investigation agencies.
The Pakistan Foreign Office issued a statement in response to questions from the press about reports in the media on the 'seizure of possible radioactive material' by Indian authorities at Mundra Port on a cargo ship from Karachi Port to Shanghai in China.
Infosys had earlier this year decided to expand its 'Innovation Fund' five times to $500 million to provide financing to start-ups and new technologies.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
Most Indian chief executives are optimistic about the economy and believe it would improve in the coming 12 months, said a survey by consulting and auditing firm PwC on Tuesday. The company's 27th annual global survey polled 4,702 chief executive officers (CEOs) in 105 countries and territories, including 79 in India, from October 2 to November 10, 2023. As many as 86 per cent of CEOs in India - 30 per cent higher than a year ago - are confident that the economy would improve.
The IT major had reported a net profit of Rs 3,398 crore in the year-ago period, it said in a BSE filing.
Five persons, including a defence ministry staff and a constable of the Directorate of Revenue Intelligence, were arrested for allegedly molesting a woman and trying to forcibly take her in their car on Sunday, police said on Wednesday.
The two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
Over 60 kg of gold "concealed and smuggled" by several passengers on three flights coming from Singapore and Malaysia was seized at the Visakhapatnam airport by the directorate of revenue intelligence, officials said on Monday.
The revelation against HSBC has woken up the Indian agencies who have now put its India employees under the scanner. The Revenue Intelligence wing and also the Reserve Bank of India will probe some rogue elements in the bank who could have possibly facilitated this offence which helped drug lords and terrorist groups park money by hoodwinking the security agencies.
The National Commission for Scheduled Castes has asked Maharashtra's chief secretary and director general of police, Mumbai police commissioner and the Union home secretary to appear before it on January 31 for an in-person hearing on former Narcotics Control Bureau zonal director Sameer Wankhede's 'harassment' complaint.
The probe agency is learnt to have taken possession of multiple physical and digital records during a search operation conducted on the premises of the South Korean firm in Delhi and Mumbai this week.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
The Directorate of Revenue Intelligence on Saturday slapped the charges of Foreign Exchange Management Act and Customs Act violation against Pakistani Sufi Singer Rahat Fateh Ali Khan and his manager Maroof in connection with recovery of huge undeclared foreign currency from them at the New Delhi airport.
Armed with his contract papers, Pakistani singer Rahat Fateh Ali Khan, appeared at the office of Directorate of Revenue Intelligence as directed. The singer was accompanied by his aide Maroof and his Indian agent Chitresh Srivastav.
Pakistani singer Rahat Fateh Ali Khan and two of his troupe members were released on Monday evening pending investigations into recovery of foreign exchange case.
Tech Mahindra is building 5G use cases with US-based hospitals to help manage devices remotely and eventually manage remote surgeries that will require seamless network connectivity.
The SET's findings have now been taken on record by the Central Bureau of Investigation which recently raided the 2008-batch Indian Revenue Service officer after it filed an FIR against him for corruption and alleged violation of rules in the raids that took place at the Cordelia cruise berthed at the Mumbai coast on October 2, 2021.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
Dominic Xavier wonders what the end game in the NCB's starstruck probe will be.
The government's target of hitting $52 billion to $58 billion in mobile phone exports in FY26 has been faltering; an Indian corporate group with financial muscle will help.
Senior Congress leader Kishore Chandra Deo, who headed a parliamentary panel that probed the 2008 'cash-for-votes' scam allegedly involving some members of the Lok Sabha, on Thursday said there cannot be any inquiry on the basis of "so-called" cable leak as its authenticity has to be verified
Pakistani sufi singer Rahat Fateh Ali Khan was questioned on Friday by the Directorate of Revenue Intelligence officials for allegedly carrying $ 1.24 lakh (about Rs 60 lakh) of undeclared foreign currency.
Official sources said the ED will focus on the event managers and will also issue summons to them under the Foreign Exchange Management Act (FEMA) to explain how they got the foreign exchange that was paid to the singer.
A senior DRI official, under condition of anonymity, told rediff.com that there was severe diplomatic pressure for the singer's release.
The mystery over the source of Rahat Fateh Ali Khan's funds continues after a Rajkot, Gujarat, police officer denied that the local police had tipped off the Directorate of Revenue Intelligence about the Pakistan singer's cache of cash, as reported by a Mumbai newspaper.
The singer is currently in the news for all the wrong reasons.
The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
The Gujarat Anti-Terrorist Squad has seized drugs valued at over Rs 1,900 crore since 2016, and out of these, narcotics worth Rs 900 crore were recovered this year alone, officials said on Monday.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
The Gujarat Anti-Terrorist Squad has seized 75.3 kg of heroin estimated to be worth Rs 376.5 crore from a container near the Mundra port in Kutch district, an official said on Tuesday.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
Pakistan singer Rahat Fateh Ali Khan, who was detained by the Directorate of Revenue Intelligence with $ 1.24 lakh undeclared currency, has left the country after paying a fine of Rs.15 lakh. Official sources said Khan left by an Emirates flight to Lahore via Dubai on Tuesday evening.
Earlier, Directorate of Revenue Intelligence officials questioned the singer extensively to find out where the money came from and why it was not declared.
"Available inputs suggest that fake Indian currency notes are printed in a neighbouring country and pushed into India through neighbouring countries," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
The Department of Revenue Intelligence, Customs and Central Excise have intercepted a container at Cochin, which had arrived from Dubai, suspecting that it is carrying counterfeit currency notes. The owner of the consignment had told the Customs officials that the container had children's diapers and it was brought from China after conducting all clearances, informed sources.
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