A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
Brookfield India Real Estate Trust (BIRET) plans to acquire a large office campus, covering 7.7 million sq ft, in Bengaluru for Rs 13,125 crore to expand its portfolio.
India is closely monitoring Sri Lanka's decision to offer foreign investors control of an airport near the China-controlled Hambantota port, as it could present a rare opening for Indian firms seeking strategic footholds in the Indian Ocean.
The Enforcement Directorate (ED) has filed a chargesheet against real-money online gaming app WinZO and its promoters, alleging the company used bots and AI to manipulate game algorithms, leading to significant financial losses for users.
The family of Dixit Solanki, an Indian seafarer killed in a suspected attack on a merchant vessel off the coast of Oman, has filed a petition in the Bombay High Court seeking the return of his mortal remains.
A 40-year-old lost Malayalam cinematic gem, John Abraham's Amma Ariyan, has been meticulously restored in 4K by the Film Heritage Foundation and is now set to grace the prestigious Cannes Classics section
The Indian government defended its decision to revoke the security clearance of Turkey-based Celebi without warning, citing an "unprecedented" threat to aviation security. Solicitor General Tushar Mehta argued that giving a hearing or reasons before taking action would "defeat the purpose" in matters of national security. The decision came after Turkey backed Pakistan and condemned India's airstrikes on terror camps in the neighboring country. Celebi, which operates at nine Indian airports, has challenged the government's move in court.
A Delhi court has requested clarification from the Ministry of External Affairs regarding the extradition status of a former managing director of Bush Foods Overseas Pvt Ltd and his wife, who are residing in London, in connection with a money laundering case linked to an alleged Rs 750-crore bank loan fraud.
Hyderabad police have dismantled a multi-crore illegal money circulation racket allegedly promoted by QNet, arresting 32 individuals across Telangana, Andhra Pradesh, and Karnataka.
A Delhi court has ordered the confiscation of several properties belonging to UK-based arms consultant Sanjay Bhandari under the Fugitive Economic Offenders Act, following his declaration as a fugitive in a money laundering case.
The Delhi High Court has quashed cases registered by the Delhi Police and the Enforcement Directorate against news portal NewsClick and its editor-in-chief Prabir Purkayastha, citing that the continuation of the FIR was 'a gross abuse of the process of law' and the investment was an economic decision that 'did not spell out any criminal offence'.
Vinfast sold 137 cars versus Tesla's 109 during the festive months of September and October, as BYD maintained a strong lead with over 1,100 cars sold, according to Fada data.
A new report by the Association for Democratic Reforms (ADR) reveals a significant increase in donations to national parties in India, with the BJP receiving the overwhelming majority, surpassing the combined total of all other national parties by more than tenfold.
Delhi High Court judge Justice Swarana Kanta Sharma has recused herself from hearing a plea by Congress MP Karti Chidambaram seeking to quash a CBI FIR against him. The FIR alleges that Chidambaram helped an alcoholic beverage company over the ban on the duty-free sale of its whisky.
A special CBI court has upheld the framing of charges against a former Narcotics Control Bureau official accused of cheating the bureau by claiming subsistence allowance while suspended, despite working for three private companies.
CAE Simulation Training has launched a new pilot training facility in Mumbai, its fourth in India, to address the increasing demand for skilled pilots in the rapidly growing domestic aviation market.
Goa will host the seventh season of the Ultimate Table Tennis (UTT) event in July, marking a significant milestone for the franchise-based league and Indian table tennis.
Building a party from scratch and leading it to electoral success is an entirely different challenge.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
The private consortium would invest more than Rs 1,200 crore over the next five years to launch a constellation of 12 state-of-the-art Earth Observation satellites equipped with panchromatic, multispectral, hyperspectral, and microwave SAR (synthetic aperture radar) sensors.
The Enforcement Directorate (ED) conducted searches against Chennai-based 'lottery king' Santiago Martin, the single biggest donor to political parties with over Rs 1,300 crore in electoral bonds, as part of a money laundering investigation. The action comes after the Madras High Court allowed the ED to proceed against Martin following a police decision to close the initial FIR against him.
Gurumurthy, the company's CEO, said TEN x YOU was built on athlete insight and designed for Indian conditions.
A consortium led by Kal Somani, a tech entrepreneur, has acquired Rajasthan Royals for $1.63 billion, marking a significant milestone in IPL's history.
Indian Hotels Company Ltd (IHCL) net profit rose 15 per cent in the second quarter after excluding the one-off exceptional gain of Rs 307 crore in the previous year. Net profit fell 45 per cent when compared with the previous year's earnings after including a one-off gain.
Long-distance runner Lalita Babar was named Sports Person of the Year at the India Sports Awards 2015 in New Delhi on Monday.
Riddhima Kapoor Sahni, Neetu Singh and Rishi Kapoor's daughter, is making her acting debut at 46, joining a list of actors who took their sweet time to be bitten by the acting bug.
Fair trade regulator CCI on Tuesday cleared Bajaj Group's proposed acquisition of a 26 per cent stake each in its insurance joint ventures, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, from its partner Allianz SE for a total of Rs 24,180 crore. "The proposed combination involves acquisition of 26 per cent paid-up equity share capital of Bajaj Allianz Life Insurance Company Ltd (BALIC) and Bajaj Allianz General Insurance Company Ltd (BAGIC) by Bajaj Finserv Ltd (BFS), Bajaj Holdings & Investment Ltd (BHIL) and Jamnalal Sons Pvt Ltd (JSPL) from Allianz SE," the regulator said in a release.
A US bankruptcy court has reversed a $1 billion damages ruling against Byju Raveendran, according to a statement from the founders of Think and Learn Pvt Ltd - the parent firm of ed-tech platform Byju's.
Top carmakers led by Maruti Suzuki, Mahindra & Mahindra, Tata Motors Passenger Vehicles and Kia India on Saturday reported record sales in the domestic market riding on festive demand boosted by GST rate cut. Other manufacturers such as Skoda Auto India and Toyota Kirloskar Motor also posted impressive growth in sales in October.
Maruti Suzuki sold more cars than ever before, earned more money, and saw many first-time buyers choosing small cars again.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
In a big boost to tycoon Gautam Adani, markets regulator Sebi on Thursday cleared the billionaire and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
The CBI has arrested Mani M. Sekhar in a Rs 8 crore bank fraud case from Indore after a nearly two-decade manhunt.
M S Dhoni had filed the defamation suit in 2014 against Zee Media Corporation, Sudhir Chaudhary- Editor & Business Head of Zee News, IPS Officer G Sampath Kumar, and News Nation Network Pvt Ltd.
'Bollywood now pushing propaganda with #TheTajStory a film twisting history by showing the Taj Mahal as a temple. A country boasting of being the 4th largest economy is drowning in fantasy & communal myths. When propaganda feels ashamed, you know it's India 2025'
Product of the Year (India) awards ceremony to be held on Saturday, 6th March, 2010 in Mumbai.
Maya Chemtech India Pvt Ltd supplied propylene glycol used in Marion Biotech's cough syrups that were found to be "not of standard quality", according to the regulator.
As many as 26 top e-commerce companies, including Zepto, BigBasket and Zomato, have given an undertaking that their platforms are free from misleading claims and unfair trade practices which constitute 'dark patterns', the government said on Thursday.
Tata Group is set to become India's first homegrown iPhone maker after Taiwan's Wistron Group agreed to sell a plant in Bengaluru to India's largest conglomerate. Wistron's board approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd to Tata Electronics for $125 million, the Taiwanese electronics manufacturer said in a statement on Friday. The unit operates an iPhone assembly plant near Bengaluru.
An official spokesperson of Oerlikon Graziano said, "In the domestic market in India, we have good order position, while in Europe and the US, due to the overall recession, things are a little slower. The Graziano management has taken a decision to grow its business in the Indian market."
