Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
Upgradation to the new product (from Infosys) will stabilise by this month-end
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
'Modi's speech was like one of our sour food preparations; Rahul's was sweet.'
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
'India has a conviction rate of about 25% for serious crimes. This means that 75% of the time the police probably get the wrong suspect, and this makes murdering them in an encounter more morally problematic for the officers concerned.' says Aakar Patel.
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
Besides Joseph, one of the lawyers defending Michel is a member of the Congress' youth wing while the father of another is a party member, Patra claimed at a press conference.
Ashish Shah of A C Choksi says Timex and International Travel House are great stocks to buy.
He claimed the NDA government bought the planes at Rs 1,600 crore a piece as against the Rs 526 crore for each aircraft fixed by the UPA.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
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.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
Precious ornaments are estimated to become 3% costlier under GST
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
FIIs have offloaded shares of Bajaj Corp, Nestle, Jyothy Laboratories and Britannia.
Modi, a diamond jeweller whose designs have been worn by Hollywood stars, is now believed to be running a new business, which describes itself on the UK's Companies House register as a wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores.
The ED has claimed that Nirav Modi had refused to join the probe despite acknowledging mails and summons issued to him and that he doesn't want to return to India.
'There are so many issues that the CVC is examining both with reference to the PNB and RBI,' K V Chowdary said.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The bench also extended the interim protection from arrest granted to Chidambaram till September 5.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
The BJP chief said the ED and the CBI have taken prompt action in the Nirav Modi case.
Indian gold imports, which fell last week as world prices rose, are likely to pick up as jewellers replenish stocks to meet local demand during the marriage season, traders said on Monday.
'Modi had promised to deposit money in the accounts of people, but he has done it only in the case of some rich businessmen like the Ambanis'
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
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 price is at a 4-year low, stabilising around Rs 25,000/10gm.
The Congress is seeking to oust the BJP government in Haryana in the October 21 polls.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
The protesting students claimed that when they reached Red Fort, police did not allow them to take out the march but they did not budge and said they would make their voices heard.
When 17 million Indians seek their fortune abroad it only means people are losing faith in the government's ability to honour its promises, says Sunanda K Datta-Ray.
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