The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
Lata Ramgobin, who is the daughter of noted rights activists Ela Gandhi and late Mewa Ramgobind, was also refused leave to appeal both the conviction and the sentence by the Durban Specialised Commercial Crime Court.
According to the cause list for December 11, Monday, uploaded on the apex court website, a five-judge constitution bench headed by Chief Justice D Y Chandrachud would deliver the verdict.
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
Citibank is working on a compensation package for customers duped by its relationship manager Shivraj Puri.
'There are so many issues that the CVC is examining both with reference to the PNB and RBI,' K V Chowdary said.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
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 transition to UPI-based ATMs will be gradual, and consumers will not immediately switch to using standalone UPI ATMs overnight.
A charity set up by Ivorian football star Didier Drogba to help children in West Africa has been cleared of fraud and corruption but may have "misled" donors, Britain's charity watchdog said on Friday. The Charity Commission launched an investigation in April after Britain's Daily Mail newspaper said less than one percent of 1.7 million pounds ($2 million) donated to the Didier Drogba Foundation was spent on children in Ivory Coast. The watchdog found no evidence of fraud or corruption, but said Drogba's charity, set up in Britain in 2009, had failed to separate its activities from those of an Africa-based arm of the organisation - La Fondation Didier Drogba - established in 2007.
Twenty five year-old Jagmeet Channa, who worked at the Canary Wharf headquarters of the bank, hijacked his colleagues' identities to plunder the coffers of the bank. Hoping the looming weekend would help hide his betrayal, Channa followed orders of fellow conspirators who had promised him a 'cut', by first sending Euro60 million (47,970,227 pounds) from one of its trading accounts to Morocco.
The Delhi police unearthed a multi-crore corporate fraud and arrested the kingpin of the racket, a hotelier who allegedly cheated as many as six major banks in Delhi by extracting loans furnishing forged documents.
Chief Minister Bhupesh Baghel asked why the prime minister and Centre were scared of ordering a probe into the fraud committed by the Adani Group.
Handle cards like you would handle cash.
The CBI has booked five people for allegedly posing as Microsoft tech support and siphoning off USD 400,000 (Rs 3.37 crore as per current rates) retirement funds of a US citizen, officials said on Friday.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay high court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The high court, however, refused to grant an urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation. A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.
The two diamond traders, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, promoting the agency to move the PMLA court for issuance of NBWs against them.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
He said the move is aimed at benefiting a 'particular political party'.
The CBI, facing a shortage of investigative officers and a rise in financial offences, is planning to recruit for short tenures personnel from public sector banks working at the corresponding grade of CBI Inspector. Those hired will be a part of the CBI's Bank Fraud Investigation Cell.
During the trip, check your bank account and credit card statements regularly for unauthorised transactions.
'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.
The ED has charged the accused under various sections of the Indian Penal Code and the Prevention of Money Laundering Act (PMLA) in the over Rs 13,000 crore PNB scam case.
In the past, there have been instances of people getting fake e-mails in the name of RBI.
Several depositors and high-networth individuals were duped in the Rs 460.91 crore fraud which was engineered by a Citibank's Global Wealth Manager Shivraj Puri who was working at Gurgaon branch of the bank.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Banks would soon be able to determine whether a property is already mortgaged when a borrower approaches them for a loan against it and this would help in checking the increasing instances of housing loan frauds.
With an aim to safeguard the investors from possible frauds involving collective investment schemes, the government has proposed a high-level committee of members from Reserve Bank, Sebi, Corporate Affairs Ministry and Economic Office Wing of state police departments.
From the landing of Chandrayaan 3 to the bombardment of Palestine by Israel, a look at some events that shaped the world in the second half of 2023.
An American man -- who produced the anti-Islamic film that had outraged the Muslim world -- has been sentenced to a year in prison for violating his probation stemming from a 2010 bank fraud conviction by lying about his identity. United States District Court Judge sentenced Mark Basseley Youssef after he admitted to four of the eight alleged violations, including obtaining a fraudulent California driver's license.
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
Axis Bank recently informed the Reserve Bank of India that it had experienced a cyber attack, while the State Bank of India said it was re-issuing over 600,000 debit cards because of a potential security breach.
Advisors and agents known to you personally can also sell wrong policies.
'It seems PM Modi is running a bank fraudsters settlement company for the likes of Nirav Modi'
The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act, it said.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
He claims that his offer to pay back the debt owed by his now-defunct airline had been rebuffed by the banks and the Indian government.
Cox & Kings is currently going through the corporate insolvency resolution process. Around 2,500 operational creditors have submitted claims of over Rs 631 crore, 2,440 employees and workman have claimed dues of over Rs 94 crore and other creditors have submitted claims of over Rs 3 crore.
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