Delhi Police's Economic Offences Wing has arrested two individuals, including a chartered accountant, in connection with a GST and VAT fraud involving the misuse of business credentials and dummy firms.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
Delhi Police dismantled a cyber fraud facilitation network involving mule bank accounts and shell companies, arresting two dummy directors after detecting a fund flow of over Rs 16 crore within eight days.
A property near Heathrow Airport, London, worth Rs 7.5 crore has been attached by the Enforcement Directorate (ED) in connection with a bank loan fraud case involving Neo Corp International Ltd.
A special court in Mumbai has issued notices to Nirav Modi's brothers, Neeshal and Nehal, asking them to explain why they should not be declared fugitive economic offenders in connection with the Punjab National Bank scam.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
The Central Bureau of Investigation (CBI) is set to take over the investigation into the embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank in Chandigarh. The Haryana government decided to hand over the probe to the central agency last month following allegations that funds were diverted for personal use through shell companies and real estate investments.
The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 34.51 crore in connection with an alleged financial fraud involving the United Services Club in south Mumbai.
A special court in Mumbai has issued notices to Nirav Modi's brothers, Neeshal and Nehal Modi, asking them to explain why they should not be declared fugitive economic offenders in the Punjab National Bank scam.
A 29-year-old man has been arrested in Telangana for allegedly murdering his pregnant wife and two daughters by pushing them into a swimming pool. The motive appears to be to marry a minor relative and sire a male child. Nine others have also been arrested in connection with the case, including family members and medical professionals involved in illegal sex determination and forced abortions.
The Enforcement Directorate has launched a money laundering investigation into the alleged embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank, conducting searches across multiple locations.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
The central probe agency that began action against the banker by raiding his upscale residence in south Mumbai on Friday is primarily investigating Kapoor, his wife and three daughters over a Rs 600 crore fund received by a firm allegedly "controlled" by them from an entity linked to the scam-hit Dewan Housing Finance Limited.
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.
Counter-hijack operations force National Security Guard has submitted a report to the union home ministry giving details of the sequence of events that led to the surprise recovery of a dummy stun-grenade on-board an Air India plane when it landed at Jeddah few days back.
IMAGES from the Premier League matches played on Tuesday.
The ED has attached seven sugar mills worth over Rs 1,097 crore in a money laundering case against former Uttar Pradesh BSP MLC Mohammed Iqbal and his family, officials said.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
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The complainant accused Kejriwal and his brother-in-law of indulging in corruption.
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In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
A senior official said CBDT has inputs that a number of these companies possibly indulged in tax crimes and once this is established, the department will initiate action against them for indulging in money laundering and tax evasion.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
IMAGES from Day 2 of the 1st Test played between India and England in Hyderabad, on Friday.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
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The agency said it searched a Mumbai-based operator who was running 700 shell companies with 20 dummy directors and had "converted Rs 46.7 crore for Chaggan Bhujbal", the jailed ex-Maharashtra deputy chief minister.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
The chargesheet was filed against Nirav Modi and 23 others.
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In its EoI document, the bank had said it was open to converting into a small finance bank.
The rest, investigators claimed, were floated as "dummies" to act as cover for unleashing the alleged ponzi scheme.
Pawar said he was upset that his three sisters were dragged into this.
Only when the RBI inspection started on September 19 did they realise that their game was up and one of them had sent a letter to the central bank, leading to the RBI crackdown, report Anup Roy and Subrata Panda.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
The United Kingdom's home department has cleared the extradition of fugitive diamantaire Nirav Modi, who is wanted in an over Rs 13,000-crore bank fraud case, officials said on Friday.
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
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