'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Once the Canadian investigation runs its course, Ottawa may put on the public domain further accusations passing for "evidence" -- and that could happen at some point closer to our general election. All in all, the big question is, what is it that the US is really up to, asks Ambassador M K Bhadrakumar.
This is a culmination of the joint investigation carried out by the Department of Justice and the Department of Homeland Security.
Is this a classic case of throwing the baby out with the bath water?
According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs and the Department of Revenue, citing violations of the Acts these bodies govern.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
ndia has become the world's second largest market of asbestos as the government backed by powerful corporate lobby turns a blind eye to diseases related to the use of the hazardous chemical.
In a further escalation of the confrontation between the Congress and the government, the opposition party claimed that a committee constituted by the Delhi government has found 'gross financial irregularities' in the DDCA during that period.
Alstom is accused of paying bribes to Indian public officials to secure Delhi metro contracts.
Mallya and his group firms are already facing a probe by Enforcement Directorate for alleged diversion of loans taken by long-grounded Kingfisher Airlines
The agency was allocated Rs 835.39 crore to manage its affairs in 2021-22 which was later increased to Rs 870.50 crore in the Revised Estimates given in the Budget document released Tuesday by Finance Minister Nirmala Sitharaman.
The UK subsidiary allegedly paid bribes to win train infrastructure orders for the Delhi Metro, the Serious Fraud Office said in a filing.
Hitting back at Arvind Kejriwal over the DDCA row, Finance Minister Arun Jaitley on Thursday accused him of spreading "false propaganda", saying he seems to believe in untruth and defamation and delivers a language that borders on hysteria.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
NBFCs which have not met Sebi criteria will face tough action.
The Supreme Court-appointed SIT on Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.
News portal The Wire has filed a police complaint against its former consultant Devesh Kumar in connection with a 'fabricated' story related to the BJP's IT department head Amit Malviya, a senior police officer said.
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 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.
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.
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.
'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.
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.
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.
'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.
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.
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.
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