CPI(M) workers clashed with security personnel outside former Chief Minister Pinarayi Vijayan's residence in Kerala during Enforcement Directorate (ED) searches related to the alleged CMRL monthly payment case involving his daughter.
Cochin Minerals and Rutile Ltd (CMRL) has challenged the Kerala High Court's decision allowing the Enforcement Directorate (ED) to investigate its financial dealings with Veena T, daughter of Kerala's Chief Minister Pinarayi Vijayan. CMRL argues the ED probe lacks jurisdiction and violates natural justice principles.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of a money laundering probe linked to the CMRL case involving his daughter, Veena Vijayan.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of its money laundering probe linked to the CMRL case involving his daughter.
BJP leader V Muraleedharan dismisses claims that Prime Minister Narendra Modi would strike a deal with the Congress to target the CPI(M), stating Modi has 'better things to do'. He also questioned Kerala CM Pinarayi Vijayan's concern over ED raids if he has done nothing wrong.
CPI(M) leaders have strongly criticised the ED raids on former Kerala CM Pinarayi Vijayan and others, alleging political motivation and a conspiracy by the BJP and Congress. They claim the raids are an attempt to intimidate the party and its leaders, and have vowed to fight back against what they see as a politically fabricated case.
Private-sector lender IndusInd Bank had said the Serious Fraud Investigation Office (SFIO) interacted with its officials this week and would send a written communication seeking specific details related to the accounting discrepancies identified at the bank.
The Enforcement Directorate (ED) has seized significant assets from Earth Infrastructures Ltd., a Delhi-based real estate company, following accusations of defrauding homebuyers. The company is currently undergoing insolvency proceedings.
The UK High Court has rejected Nirav Modi's attempt to reopen his extradition case, citing the Indian government's comprehensive assurances against torture as sufficient to allow his transfer to India.
The government is considering initiating a probe by the Serious Fraud Investigation Office (SFIO) against Gensol Engineering and its promoters, according to sources familiar with the matter. "It is under consideration at this stage. A final decision will be taken soon," a government official said.
The Bombay High Court discharged Adani Group Chairman Gautam Adani and Managing Director Rajesh Adani from a case of alleged violations of market regulations involving nearly Rs 388 crore. The Serious Fraud Investigation Office (SFIO) had initiated the case in 2012 against Adani Enterprises Limited (AEL) and its promoters, accusing them of criminal conspiracy and cheating. The HC's single bench of Justice R N Laddha quashed the sessions court order and discharged the duo from the case.
SFIO is looking into the role of Grant Thornton LLP which had valued the brand.
According to SFIO, the modus operandi of the Reebok fraud involved filing fictitious invoices to show inflated sales, recording fictitious sales by raising prices of goods sold.
A preliminary report on the investigations is likely to be submitted soon by SFIO, but the final report may take little longer, Corporate Affairs Minister Sachin Pilot said.
The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
"During this month, the SFIO will begin the prosecution on those or those areas of company laws that the SFIO is expected to and have been authorised to proceed with," Corporate Affairs Minister Salman Khurshid told a press conference in New Delhi.
Corporate Affairs Secretary Naved Masood said SFIO is finalising the report on Reebok.
The SFIO probe ordered by the government into illegal money-pooling activities of various entities would initially focus on 57 companies, most of which are in West Bengal, Odisha, Bihar and Assam.
The government has asked the investigating agency SFIO to expeditiously initiate prosecution proceedings against the guilty in the Satyam case and put the whole process on the fast track.
The agency is looking at alleged "diversion of funds and financial reporting frauds".
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Coming against the backdrop of rising incidence of financial frauds, the proposed prediction model would bolster SFIO's capabilities in detecting misdoings at the initial stage itself.
A special task force has been set up under to carry out all investigations into such companies.
The government ordered the probe by the SFIO after receiving a report from the Registrar of Companies (RoC), Hyderabad, which inspected the books of accounts of Satyam Computer Services and eight other companies belonging to the kin of the former chairman of the IT major, B Ramalinga Raju.
A special task force of the SFIO recently submitted an interim report to the Corporate Affairs Ministry in this regard.
The Serious Fraud Investigation Office (SFIO), the investigation arm of the Union corporate affairs ministry, has begun prosecution proceedings against the alleged perpetrators of the country's largest accounting fraud that took place in Satyam Computers last year.
Fortis Healthcare has also come under the lens of Sebi, which launched an investigation into alleged regulatory lapses
Troubled car maker Daewoo Motors India has been referred to the newly set up Serious Frauds Investigation Office due to financial mismanagement involving about Rs 1,000 crore.
Following the disclosure of the Satyam scam, the corporate affairs ministry asked the SFIO to probe the books of accounts of 325 companies including those connected with Satyam and family members of B Ramalinga Raju. For instance, the official said in the accounts of a company named Swarnamukhi Green Field Pvt Ltd, the cost of land has been shown as Rs 15,00,000 but it was sold for Rs 3.5 crore (Rs 35 million).
The Serious Fraud Investigation Office is under the administrative control of the Corporate Affairs Ministry, and is being readied to become an investigation body at par with the Central Bureau of Investigation and the Enforcement Directorate.
The probe is expected to take about three months.
A SFIO probe into Saradha scam and 'chit fund' operations of 62 other entities has found serious financial mismanagement and siphoning off the funds by their promoters, who took advantage of regulatory gaps.
Completing its over a-year-long probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations.
Probe has been completed against 83.
Says company yet to file audited accounts, without which it can't proceed.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
The ministry has asked the RoC to submit within three weeks reports of the Satyam-Maytas deal and the details involved. For this, the ministry could even waive the condition of a minimum 10 per cent of shareholders required for moving the CLB with complaints.
A court allowed the Serious Fraud Investigation Office (SFIO), a central government body, to question Satyam Computer Services founder B Ramalinga Raju, former managing director B Rama Raju, former chief financial officer Srinivas Vadlamani and two Price Waterhouse auditors, S Gopalakrishnan and Srinivas Talluri, for six days from March 29.
Decision on probing the role of auditors will be taken after initial inquiry
The Registrar of Companies in Hyderabad, where the head office of the crisis-ridden company is located, will be a part of the SFIO team to probe the case, sources added. Earlier on Friday, the ministry dispatched the SFIO team consisting advisers and inspectors to Hyderabad to assist RoC in the Satyam probe.
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