The court accepted the plea of Enforcement Directorate for issuance of Letters Rogatory to authorities in the two countries as investigations allegedly revealed that Dr Amit, a quack, had made offshore investments in properties and banks.
Sushant Kumar Dass and Lalit Patodi were arrested on charges of facilitating Telgi's dealings in fake stamp papers in Delhi by opening bank accounts in fictitious names, Deputy Commissioner of Police (Economic Offences Wing) Dinesh Bhatt said.
Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.
'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
The sessions court last week began the trial by issuing the process order and then released all the 25 accused present in court on bail. The case will be heard on June 20. All the accused were charged of committing fraud in the initial public offering of the shares of IDFC, which was open for subscription from July 15-July 22 in 2002.
Meanwhile, RBI Governor Raghuram Rajan said at the meeting that the central bank brass discussed strengthening the state- level coordination committees so that unauthorised deposit taking can be dealt with in a better way.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
The Enforcement Directorate to take a "conclusive action" towards attachment of assets of those involved in coal scam.
Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, told a UK court on Thursday that he could be in England for years as some ongoing proceedings prevent his extradition. The 52-year-old former billionaire appeared for a hearing at Barkingside Magistrates' Court in east London via video link from Thameside prison in relation legal costs, or fines, amounting to GBP 150,247.00, accrued over his failed extradition appeal proceedings in the London high court. Dressed in a pink prison-issue outfit and sporting a moustache, a plump and bald Nirav addressed the three-member magistrates' bench to reveal that he had complied with the previous court direction to pay in GBP 10,000 per month towards the fines.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Chidambaram sees systemic deficiency in IPO scam.
There are four first information reports against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits.
The review will help all the banks find if there is any loophole.
The RBI will take action against, apart from erring auditors, those responsible for wrong information in a bank's financial statements, incorrect certification given by auditors, wrong information given in the Long Form Audit Report, and any other violations of the RBI's rules and regulations on auditing.
After every corporate announcement, check your demat and bank accounts for necessary credits.
How long can you look at Ajith sitting with a machine gun on his lap? asks A Ganesh Nadar.
Replying to the no-confidence motion, Prime Minister Narendra Modi asserted on Thursday that the opposition's move is auspicious for his government as he expressed confidence that the Bharatiya Janata Party and its allies will break old records to retain power at the Centre in the 2024 Lok Sabha polls.
According to the agency, several of the attached properties were registered in the name of shell companies and persons acting as proxies for Chatterjee.
'Let them put their house in order first.' 'Let the RBI first rectify themselves.'
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
The seven people arrested will be produced in a designated CBI court to seek their remand, CBI sources said.\n\n
In its chargesheet filed in a special court in Srinagar, the CBI alleged that Abdullah as the association president at that time had connived with the treasurer of JKCA and others for undue siphoning off and misappropriation of funds, a CBI spokesperson said in New Delhi.
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".
Lack of education and the absence of bank branches across huge swathes of the country puts more than half of India's population outside the formal banking sector.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
Shridhar Madhav Patankar, the brother of Thackeray's wife Rashmi, "owns and controls" Shree Saibaba Grihanirmiti Private Limited, it said.
The Enforcement Directorate has alleged that this is a bigger bank scam in volume than that of the Punjab National Bank fraud by fugitive diamantaires Nirav Modi and Mehul Choksi, as it involves fraud to the tune of about Rs 16,000 crore.
Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi.
The second charge sheet may highlight some more financial transaction made by Raju and some of his associates.
Experts foresee possible scenarios: A BRS government with less majority, a BRS government with BJP and AIMIM support, or a Congress government.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
HDFC Bank was penalised R15 lakh in April 2011 for its role in the so-called derivatives scam. By no means is this big money for the bank but such regulatory actions tarnish the image of a bank. In the financial world, they call it reputation risk. HDFC Bank couldn't escape this despite its hatred for risks. What went wrong? Journalist Tamal Bandyopadhyay lifts the veil off the incident, and the bank's response, in this fascinating insight from his forthcoming book
The Bill allows stopping of transmission and intercepting messages in case of public emergency, in the interest of the public, to prevent incitement for committing offence.
External Affairs Minister Sushma Swaraj met Foreign Minister of Antigua and Barbuda E P Chet Greene on the sidelines of the 73rd session of the United Nations General Assembly and raised the extradition issue of Choksi, who is currently in the Caribbean island.
Modi said that unlike other parties that believe in keeping people weak so that their dependence on them never ends and their "crown" remains intact, the BJP believes in empowering them and making them independent.
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal.
Taking bank lottery scam to a new level, scamsters are using the name and picture of RBI chief Raghuram Rajan to lure gullible people into making a cash deposit of Rs 15,500 to get a winning amount of Rs 5.50 crore.
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