The Serious Fraud Investigation Office (SFIO) has arrested a person who the Ministry of Corporate Affairs (MCA) said has emerged as the mastermind of the racket of incorporating a large number of shell companies with Chinese links in India.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
Gullible bank customers are getting fooled by callers who scare or lure them.
GST officers can now launch prosecution against offenders in cases where the amount of evasion or misuse of input tax credit is more than Rs 5 crore, the finance ministry has said. However, this monetary threshold will not be applicable in the case of habitual evaders or in cases where arrests have been made at the time of investigation. "One of the important considerations for deciding whether prosecution should be launched is the availability of adequate evidence," the GST investigation wing under the finance ministry said, while issuing instructions for launching prosecution.
Don't reveal any information to strangers.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
Television footage showed images of young men,jumping the gates of the stadium while others outside, including children, were tear-gassed by riot police
"The government feels the industry needs some government oversight and can't be left unregulated. A panel of bureaucrats will soon submit their recommendations on the subject," said an official.
This is one of the major corporate frauds in the country.
8,121 people were arrested in 2015 for cybercrimes, a 41% increase from 2014.
Key documents related to the seven-year-old scam go missing from medical college in Gwalior.
The Enforcement Directorate on Sunday conducted searches in various Uttar Pradesh cities after it registered a money laundering case to probe the alleged Rs 3,700 ponzi scam case perpetrated by seeking fake social media 'likes' from lakhs of gullible investors by a Noida based firm.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
A common factor that binds all these men is greed.
A drunken conversation tipped off Thane Crime Branch detectives to the unprecedented scam targeting unsuspecting Americans from call centres in Thane.
'Evacuating' Devyani's maid's family from India on T visas -- associated with severe sex or labour trafficking... The maximum number of persons thus evacuated by the US from foreign countries last year was from India... A thorough investigation of this is required at India's end,' says former foreign secretary Kanwal Sibal, 'with the US warned that such interference in India's judicial system will not be tolerated.'
India's snooping programme is officially underway and multiple agencies will use internet surveillance system Netra and National Cyber Coordination Centre to keep a tab on suspicious activities on the internet, says Vicky Nanjappa.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances