SFIO tried to sift through changed names, cross-holdings in INX Group
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The CBI had received Rs 802.19 crore initially in the last budget and it was increased to Rs 835.75 crore in the revised estimates for 2020-21.
Embattled Anglo-Italian helicopter maker AgustaWestland may face a probe in the UK over its 480 million pounds scandal-hit deal with India for the supply of 12 VVIP choppers.
If his attempt to have his appeal heard in the Supreme Court fails, in principle, Modi can apply to the European Court of Human Rights (ECHR) to try and block his extradition on the basis that he will not receive a fair trial and that he will be detained in conditions that breach Article 3 of the European Convention on Human Rights, to which the UK is a signatory.
GST officers can now launch prosecution against offenders in cases where the amount of evasion or misuse of input tax credit is more than Rs 5 crore, the finance ministry has said. However, this monetary threshold will not be applicable in the case of habitual evaders or in cases where arrests have been made at the time of investigation. "One of the important considerations for deciding whether prosecution should be launched is the availability of adequate evidence," the GST investigation wing under the finance ministry said, while issuing instructions for launching prosecution.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
Israel could be headed for a break from the 'Bibi-regime' as several former allies of longest-serving Prime Minister Benjamin Netanyahu seem to have joined hands with political opponents to form a national-unity government that would not only have political formations from the Left, the Centre and the Right, but may also be supported by an Arab party.
As a multi-agency probe continues in Saradha scam, findings of one official investigation suggests that the group floated at least 279 companies to channelise money collected from gullible investors as part of a vast 'ponzi' network.
Former India captain Bishan Singh Bedi announced his candidature against Arun Jaitley for the post of the Delhi & Districts Cricket Association (DDCA) president in the upcoming association elections scheduled for December 30.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
Addressing a press conference in Pune, Pawar also responded to a query on Thursday's meeting between industrialist Gautam Adani and NCP chief Sharad Pawar, saying the two know each other and there is nothing wrong if two such persons meet.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
The UK has launched a probe after a "disturbing" footage caught a teacher on camera making anti-Muslim and Christian remarks to students at a camp organised by an RSS-inspired charity.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
The Supreme Court on Monday agreed to hear a plea seeking direction to the Central Bureau of Investigation to lodge an FIR into the alleged conspiracy to "fix" Chief Justice of India Ranjan Gogoi.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
It has also said that orders were issued by the courts after hearing the counsels of ED and Mallya, officials said.
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
The investigation, which was opened on Oct. 1, is being handled by the French police's Central Service of Races and Games (SSCJ).
Kirti Azad, a known detractor of Jaitley, egged on the Congress to seek a time-bound SIT probe.
Gokulnath Shetty, then deputy manager (now retired), Manoj Kharat, a single window operator of PNB, and Hemant Bhat were taken into custody by the agency
Vijay Mallya has lost control of his companies.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
'Quite a few notices have been issued in both black money and benami transactions.'
Questioning whether "New India" can be ever run by this "kleptocrat's club", Jaitley said those who have lent support to the West Bengal dharna are those who are battling serious allegations of economic improprieties
The Central Vigilance Committee has sought loan data from United Bank
A look at few gurus who have attracted controversy in recent times.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
The defence ministry has put on hold all existing and future deals with Rolls Royce pending a CBI probe ordered into allegations of bribery and engaging middlemen in contracts worth Rs 10,000 crore for supply of aircraft engines to state-owned HAL.
A look at few gurus who have attracted controversy in recent times.
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