Experts believe it would be far-fetched to believe that Riyadh would support Pakistan militarily in any conflict with India, which has robust strategic and economic relations with Saudi Arabia.
The entry of other Arab countries in the mutual defence deal between Pakistan and Saudi Arabia is not ruled out, Defence Minister Khawaja Asif has said, adding that 'doors are not closed' for such developments.
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.
In a pump and dump operation, fraudsters artificially inflate the price of a stock by spreading misleading or false information, creating a frenzy among unsuspecting retail investors.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
The Director General of Police (DGP) of the Karnataka State Police Housing Corporation, Ramachandra Rao, has denied any knowledge of his stepdaughter Ranya Rao's alleged involvement in gold smuggling. Rao expressed deep distress over the incident, saying his reputation has been tarnished irreparably. He emphasised his lifelong dedication to honesty, integrity and discipline, and said his commitment to public service has always been his priority. Rao said he had no knowledge of the situation unfolding in his life and asked for fairness towards himself and his family. The DGP assured that if any laws were violated by Ranya, legal action would be taken.
It said that increased focus on expenditure monitoring was the reason being the seizures, which included freebies such as sarees, 'food kits', pressure cookers and kitchen appliances.
The Enforcement Directorate (ED) has seized its biggest-ever cryptocurrency worth Rs 1,646 crore in a money laundering investigation into a fraud investment scheme called BitConnect. The scheme, which ran between 2016 and 2018, promised investors high returns through a proprietary trading bot but was found to be a sham. The ED tracked transactions through the dark web and seized the cryptocurrency from numerous wallets. This is the agency's largest-ever seizure of virtual digital assets and the investigation is ongoing.
A joint operation by anti-narcotics agencies led to the seizure of about 700 kg of drugs and the arrest of eight Iranian nationals from Indian territorial waters off the Gujarat coast around Porbandar on Friday.
Currently, the enforcement officers are making seizures of assets directly and indirectly connected to offenders, including jewelers Nirav Modi and Mehul Choksi in the Punjab National Bank fraud and Vijay Mallya in the Rs 9,000-crore IDBI loan case.
Seizures were made to stop any inducement of voters in Maharashtra, where polling will take place on November 20.
Front-running is a fraudulent practice where traders exploit advance knowledge of large client orders for personal profit.
Disproportionate assets of Kamaraj stood at Rs 58.44 crore and he has been booked for criminal conspiracy and offences under the Prevention of Corruption Act, according to the FIR.
The federal agency issued a statement, saying it has attached fresh assets worth more than Rs 35 crore that are "beneficially-owned and controlled" by the PFI "in the name of various trusts, companies and individuals" as part of its ongoing probe against the outfit and entities linked to it.
British oil firm Cairn Energy Plc on Tuesday said it has identified Indian sovereign assets overseas, which it can seize in the event of New Delhi failing to return over USD 1.7 billion that an international arbitration tribunal has ordered after rescinding a retrospective tax demand.
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
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.
The possible instances of front running at Quant Mutual Fund have likely pushed the Securities and Exchange Board of India (Sebi) to expedite the implementation of an institutional mechanism framework designed to curb such market abuses. This framework, approved by the Sebi board in April, was slated to take effect six months after its notification. But, recent developments have set the wheels of regulation turning faster.
Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion international tribunal award in the retrospective taxation case by seizing India's overseas assets.
The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of some Hong Kong-based companies of fugitive diamond merchant Nirav Modi as part of a money laundering probe. Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), the federal probe agency said in a statement. The amount kept in banks amounts to $30.98 million and Hong Kong dollars 5.75 million, which is equivalent to Rs 253.62 crore (as on July 22, 2022), it said.
Brazilian authorities have blocked assets of Barcelona star Neymar, including a yacht, a jet and several properties worth almost US$50 million, according to The Associated Press.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
Former Jammu and Kashmir chief minister Omar Abdullah on Saturday termed the provisional attachment order of properties belonging to his father by the Enforcement Directorate as "baseless" and wondered how an ancestral property could be seen as proceeds of "crime".
The drugs seized include 3,089 kilograms of charas, 158 kg of Methamphetamine and 25 kg of morphine.
Ten years after Kingfisher Airlines was grounded, its former employees continue to wait for their dues. On Monday, the Supreme Court awarded a four-month sentence to the grounded airline's flamboyant owner Vijay Mallya in a contempt case. The apex court also ordered him to deposit $40 million plus interest in four weeks to avoid attachment of his properties.
India handed over a dossier to Pakistan to take action against the JeM, as pressure mounted on Islamabad to take action against individual and organisation listed by the UN Security Council as terrorists.
The government on Tuesday confirmed that a French court has ordered the freezing of certain Indian assets in Paris on a petition by Britain's Cairn Energy, which is seeking to recover $1.72 billion from New Delhi after winning an arbitration against retro tax. Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy. "Yes sir, an order has been passed by a French Court freezing certain Indian government properties in the case pertaining to Cairn Energy," he said.
The premises are alleged to be of the domestic help of Jharkhand Rural Development Minister Alamgir Alam's personal secretary Sanjiv Lal.
In what may be seen as worst fears of National Security Advisor M K Narayanan coming true, a US report on terrorism has said pro-Pakistan Jaish-e-Mohammed was investing in commodity market and real estate to raise funds for its terrorist activities.
After Air India, Britain's Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the $1.2 billion plus interest and penalties that are due from the Indian government. Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are 'alter egos' and the airline should be held liable for the arbitration award.
The ED conducted further searches at 21 locations across India.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
Modi underlined his commitment to taking strict action against the corrupt amid criticism by opposition parties that probe agencies were used by his government to target their leaders.
"The DMK is not worried a wee bit," he said on the ED searches. Such an action by the ED was 'usual, ordinary and a drama' enacted to divert attention.
The parents of Brazil forward Neymar have denied any wrongdoing after a judge froze 188.8 million reais ($47.6 million) of the player's assets in a tax evasion case.
Expressing concern over instances of 'unwarranted' confiscation of personal devices during raids, the CJI said they highlight the pressing need to strike a balance between investigative imperatives and individual privacy rights.
The Central Board of Direct Taxes has said the government has not introduced any new provision regarding the chargeability of tax on jewellery.
The court had, however, rejected ED's request for attachment of the liquor baron's overseas properties
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