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.
In a war against corruption, the Bihar government continues to keep its promise of confiscating ill-gotten property of corrupt officials and covert it into schools.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
Monaco authorities have agreed to close the Grand Prix circuit to all traffic and pedestrians from 0645 to 0900.
Confiscation of the tycoon's properties will start from February 5.
Violations of the act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
The government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies.
Swamy, 83, who is suffering from various health issues including Parkinson's disease, was arrested on October 8 and has been lodged at the Taloja prison in Navi Mumbai.
The crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years.
Rana was elected from Maharashtra's Amravati Lok Sabha seat in 2019. She is an Independent MP backed by the NCP.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets to enforce $1.2 billion arbitral awards against the Indian government, saying the litigation was premature as an appeal against the arbitration award was still pending. The petition by the airline, which is separate to Indian government's plea in a Washington court seeking dismissal of Cairn's lawsuit to seek confirmation of the arbitral award, said the New York district court lacks jurisdiction to adjudicate a "mere hypothetical question" or one that depends upon contingent future events that may or may not occur. Cairn first moved a court in the US District Court for the District of Columbia seeking confirmation of the arbitration award and then filed a petition in the New York court to seek declaration of Air India as "alter ego" of the Indian government and so it should be made liable to pay the $1.26 billion arbitral award.
Post-mortems of 16 more suspected hooch victims were conducted here in the last two days, raising their number to 87, but authorities on Wednesday kept the official death toll in tragedy pegged at 35.
The Oktoberfest in the southern city of Munich in Germany has ended after drawing some 6.3 million guests. Here's a glimpse of all the fun and beer that was had.
Civil Aviation Minister Ashok Gajapthy Raju remained unfazed on Wednesday saying his exemption from frisking at airports should not be taken as a threat to security.
The Ghana League Clubs Association (GHALCA) voted on Wednesday to pull its members out of all national leagues after a police raid on the local FA to seek information on sponsorship deals, the FA said.
The Election Commission has a fight on its hand as candidates use ingenious methods to smuggle in money to Voters.
In 2017 the Bangladesh supreme court on his watch annulled the 16th amendment to the constitution which empowered parliament to impeach SC judges for misconduct or incapacity. As it upheld the independence of the judiciary, it miffed Prime Minister Sheikh Hasina, who accused Justice Sinha of 'humiliating' the country. He was accused of corruption and misuse of power, allegations that he denied. Prakash Bhandari reports.
The valuables include polished diamonds, pearls and silver jewellery and are worth Rs 1,350 crore.
A new political crisis is brewing in the VK Sasikala camp in Tamil Nadu -- differences between Chief Minister Edappadi Palaniswami and party general secretary Sasikala.
Bihar Chief Minister Nitish Kumar on Monday announced that the state government has decided to confiscate the property of all the corrupt officials in the state. The government will not hesitate to seize properties amassed by corrupt officials, said Kumar, as the anti-corruption legislation drawn up by the state cabinet has finally been approved by the Centre. "The bill proposes to empower the state to confiscate the property of the corrupt," said the Bihar CM.
'When human beings develop these dangerous toys and leave their control in the hands of aggressive megalomaniac politicians, the threat of a nuclear holocaust is always lurking on the horizon.'
Members of the Legislative Council asked how some former legislators could enter the Vidhan Bhavan premises amid COVID-19-related restrictions and sought a report on the matter.
The properties overseas include two luxury hotels - one in New York and one in London - two residential apartments in London valued at 15 million each, and a yacht stationed in the UK. In India, Kapoor's six bungalows in Delhi's upscale localities, including Jor Bagh, Hauz Khas, and Kautilya Marg, were also identified.
Conservationists are going to light up 5 per cent of the world's ivory in an attempt to deter poachers.
Golf fans not allowed on the course for this week's PGA Championship due to the COVID-19 pandemic have still found a way to root for Tiger Woods and other top players, cheering through fences and from rooftops to provide a brief jolt of energy at the hushed tournament. TPC Harding Park sits on the shore above San Francisco's Lake Merced so there are few places for spectators to catch a glimpse of the action from outside the gates.
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.
Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return $1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
The prosecution complaint, ED's equivalent to chargesheet, has urged the court for confiscating attached assets totalling to Rs 1.22 crore in the case, besides other punishment under Prevention of Money Laundering Act.
The ED may soon register a money laundering case to probe if dubious funds were used for allegedly fuelling caste-based protests in the wake of the alleged gang-rape and death of a Dalit woman in Uttar Pradesh's Hathras, officials said.
It was perhaps over-enthusiasm that prompted the Indian investigative agencies to take a private jet to Dominica to bring back fugitive diamantaire Mehul Choksi. Predictably, the eight-member team had to return empty-handed after almost a week-long wait. The agencies were banking too much on the "state-less" status of Mr Choksi, as Antigua, which had given him citizenship in 2017, wasn't willing to take him back. Thus, the calculation was that Mr Choksi would be whisked away from the Dominican courtroom to the waiting plane. The reason for the optimism was also because Antigua is friendly territory for India.
In the latest standard operating procedures (SOP) regarding flying drones, the Central government has given powers to the local police to book a person under 121 and 121A apart from other IPC sections, depending on the nature of offence/threat and distance from the prohibited vital installation/area.
The PMLA court in Mumbai has sought their appearance on September 25 (Nirav Modi) and 26 (Mehul Choksi) respectively under the fugitive economic offender law.
Paramilitary force personnel and state police force will be deployed and drone cameras will be used to ensure security on Friday.
However, the tribunal rejected the plea by the Netherlands based vendors for filing an intervention application, saying the Dutch district court had no jurisdiction to order bankruptcy of Jet Airways.
Ashok Gajapathi Raju on Tuesday sparked a controversy by admitting that he carried matchboxes in airplanes, without them being confiscated, after he became the Union civil aviation minister.
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
