Female students alleged that Saraswati used abusive language, sent obscene messages, and made unwanted physical advances.
Congress general secretary Digvijay Singh on Tuesday wrote to Prime Minister Manmohan Singh and demanded a probe into allegations of dubious funding of companies run by Bharatiya Janata Party president Nitin Gadkari. In his communication, Digvijay Singh urged the prime minister to ask the ministry of corporate afairs to institute an inquiry by the Serious Fraud Investigation Office into the matter, saying that, "a prima facie case does exist".
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.
Adidas, which owns Reebok, had to take euro 211 million hit on account of the fraud at Reebok India
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
The country's biggest ever corporate scam, currently being probed by the Serious Fraud Investigation Office in Hyderabad, is expected to be discussed in the Rajya Sabha on Tuesday, corporate affairs minister Prem Chand Gupta told PTI. Gupta said the government is open to all options in the case.
The Serious Fraud Investigation Office has referred the issue of Rs 760 crore (Rs 7.6 billion) raised by scam-tainted Satyam Computer through share sales in 2001 in the US to the Enforcement Directorate for further inquiry, after failing to trace the amount.
The special court for economic offences here today posted six cases filed by the Serious Fraud Investigation Office (SFIO) against former directors of Satyam Computer Services Ltd in the multi-crore accounting scam to April 29 and the remaining one case to April 21.
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.
Self-styled godman Asaram Bapu has run into fresh trouble with the Serious Fraud Investigating Office seeking his prosecution in a Rs 700 crore land grab case in Madhya Pradesh.
Self-styled godman Asaram Bapu has ran into fresh trouble with the Serious Fraud Investigating Office seeking his prosecution in a Rs 700 crore land grab case in Madhya Pradesh.
The Supreme Court on Monday said that it will constitute a fresh bench to hear the plea of home buyers seeking delivery of their homes booked with the Amprapali group. A bench comprising Chief Justice D Y Chandrachud and Justice J B Pardiwala was urged by a counsel for home buyers to set up a fresh bench as the matters pertaining to the Amrapali group were being heard by a bench headed by the then CJI U U Lalit, who demitted office on November 8. "I will constitute a bench," the CJI said. The plea was mentioned by lawyer M L Lahoty, appearing for home buyers.
It directed the Chanchalguda jail authorities to produce him before the court on December 30. The court had earlier issued summons to Raju, former managing director B Rama Raju and former chief financial officer Srinivas Vadlamani for examination on Thursday.
Sources said that RoC Hyderabad submitted its report on Monday night to minister of corporate affairs Prem Chand Gupta and this report would be the basis for handing over the case to the Serious Fraud Investigation Office. The SFIO is already assisting the RoC in the probe, but is being formally handed over the investigations.
Before being elected as secretary general for the 2021-25 term, Kalita had served as the treasurer of the apex boxing body.
The government has ordered a probe against steel giant Ispat Industries for alleged exposure to Rs 8,500 crore of public funds, erosion of net worth and high accumulated losses.
The 6th additional chief metropolitan magistrate rejected Sebi's plea for taking the Raju brothers into custody for a day and returned as 'not maintainable' the petition filed by SFIO seeking six days custody of Ramalinga and Satyam's former CFO Vadlamani Srinivas. The three were, meanwhile, sent to judicial remand till January 31.
The court had earlier ordered initiation of proceedings against 11 former directors of Satyam Computers after splitting up the multi-crore accounting scam case
The Finance Ministry is evaluating options of conducting a special audit of scam-tainted IT firm Satyam Computer's accounts to ascertain the company's tax liability.
"There was an income tax raid at the firm premises sometime back... later, the company did pay up the required tax. But it came to light that certain bogus bills were debited in the account, which inflated expenses. The company had taken advantage of this while filing its income tax," a senior official of the serious frauds investigation office, who didn't wish to be identified, said.
Chennai-based DSQ Software may earn the dubious distinction of becoming the first company to be referred to the newly-created Serious Frauds Investigation Office for its role in the securities scam, sources said on Tuesday.
Judge T Rajani issued the summons to Ram Mynampati as he failed to appear before the court despite being asked thrice by it in connection with the case filed by Serious Fraud Investigation Office.
The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or rupees of gullible investors were allegedly swindled.
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.
Stricter norms of corporate governance under the Companies Act 2013 as well as increasing application of technology for early detection of frauds through data analysis surveillance and usage of forensic tool are among the other steps taken by the government to prevent fraud by companies, Jaitley said.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
The Interpol has issued its first Silver notice, at India's request, to track the global assets of former French Embassy officer Shubham Shokeen, who is wanted in connection with a visa fraud. The Silver notice, introduced in January this year, aims to track illicit assets across the globe. India is among 51 countries participating in the pilot project for the Silver notice, which will continue until November. The Interpol has issued two Silver notices on the CBI's request - one against Shokeen for allegedly facilitating Schengen visas for illegal gratification and another against Amit Madanlal Lakhanpal, who is wanted by the Enforcement Directorate for allegedly creating a cryptocurrency without permission and defrauding investors.
Two key advisers to Prime Minister Benjamin Netanyahu, Yonatan Urich and Eli Feldstein, were arrested on Monday as part of an ongoing investigation into potential connections between Israeli officials and Qatar.
The Enforcement Directorate (ED) has filed a money-laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan and her IT firm for receiving 'illegal payments' from a Kochi-based private firm, official sources said on Wednesday.
Deloitte had challenged the jurisdiction of the NCLT to ban it, saying section 140(5) of the Companies Act pertains to auditors who are still auditing the company in question while it has already resigned from the service and thus cannot be banned under the given provisions.
Fortis Healthcare has also come under the lens of Sebi, which launched an investigation into alleged regulatory lapses
Ponzi or MLM schemes are fraudulent investment operations.
The top court had in 2020 directed installation of CCTV cameras and recording equipment at the offices of investigating agencies, including the Central Bureau of Investigation, the Enforcement Directorate and National Investigation Agency, which conduct interrogations and have the power of arrest.
Maharashtra and West Bengal lead the way in bank fraud.
The size of corporate fraud in India almost doubled after 2009, and such cases also increased in number, said a report from Thought Arbitrage, a think tank in Delhi.
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
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