Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block, where rent is estimated to cost 17,000 (Rs 15 lakh) a month, The Telegraph reported.
Afghan presidential run-off candidate Abdullah Abdullah on Wednesday alleged massive election fraud and demanded an immediate halt to vote-counting amid reports that his rival had a million-vote lead, plunging the war-torn country's first democratic transition of power into question.
While the fixtures from the bungalow will be up for auction, three items, a jacuzzi, a chandelier, and a Buddha statue, have been kept aside for handing over to the ED.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
'The BJP will use Samrat Choudhary and Vijay Kumar Sinha to check Nitish Kumar.' 'They will not allow him to function freely as before.'
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
More cases of international credit card fraud with links to India have come to light in Britain, even as authorities refused to rate the problem from Indian cities as very high.In a latest incident, a British journalist discovered that money was withdrawn from his bank account in Chennai this week, while nearly 500 others in Bournemouth suffered the same fate.
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
Saxena, who left Thailand in 1996, is currently living under self-financed house arrest in Vancouver, Canada.
The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to "Frauds - Classification and Reporting". A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank. In a statement, the RBI said the statutory Inspection for Supervisory Evaluation (lSE) of Bank of India was conducted with reference to its financial position as on March 31, 2019.
Despite Nirav Modi win, in the last five years, India managed to bring only about 20 fugitive offenders.
Keep sufficient funds in your bank account until the cheque is cleared.
Get Ahead reader Ramesh Vishwanathan narrates his experience of how he was duped online in Australia when he tried to purchase a Dell laptop using his credit card.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar were released from jail on Tuesday morning, a day after the Bombay high court granted them interim bail in a loan fraud case, a police official said. Chanda Kochhar walked out of the Byculla women's prison in Mumbai, while her husband was released from the Arthur Road jail, the official said. The CBI arrested Kochhars on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
The items which included a Porsche Panamera and a gold Cartier wristwatch were expected to fetch Rs 50 lakh.
The Gurgaon police on Wednesday ruled out the possibility of questioning Citibank's global CEO Vikram Pandit and other top honchos in connection with the Rs 300 crore (Rs 3 billion) fraud at a bank branch in Gurgaon, near Delhi.
Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
A consortium of Indian public sector banks led by SBI sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a high court hearing in London on Wednesday as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Mallya's legal team, led by barrister Philip Marshall, argued for the bankruptcy petition to be dismissed because their client was being unfairly pursued by the banks in India and the UK on opposing grounds.
A special court in Mumbai on Friday declared three family members of late gangster Iqbal Mirchi as 'fugitive economic offenders' under the provisions of a criminal law by the same name, official sources said.
The onus is on you to reject financial products that don't suit your needs.
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
A local court in Lucknow has directed the police to lodge an FIR against ICICI Bank CEO Chanda Kochhar and head of card operations Vinay Valse in connection with allegations of cheating and fraud over online shopping through credit card.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
The search and survey operation was started at 44 locations in Mumbai and Surat on November 6, on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly in Brihanmumbai Municipal Corporation.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
The ED on Monday also examined the state-owned bank's executive director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
The total exposure of top 50 defaulters of PSBs as on December 2015 was Rs 1,21,832 crore.
Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, on Thursday suffered another setback in his legal battle against his extradition as the high court in London denied him permission to appeal against his extradition order in the UK Supreme Court. In a judgment order pronounced at the Royal Courts of Justice in London, Lord Justice Jeremy Stuart-Smith and Justice Robert Jay ruled that "the Appellant's (Nirav Modi) application for permission to appeal to the Supreme Court is refused".
K C Chakrabarty, former deputy governor, RBI, talks to Anup Roy on issues in the new bankruptcy law and rules.
The central government, in its typical sledgehammer style, has unleashed the might of its investigative agencies like the Enforcement Directorate against NCP and Shiv Sena leaders.
Those with plans to enter the wealth management business want to first put in place robust processes.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
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