Despite the inflated rates, bad management, and several issues that have affected thousands of consumers, builders just get away.
At the age of 27, Chandrashekhar has cases of cheating and illegal money laundering against him in the Enforcement Directorate, the Central Bureau of Investigation, the Chennai Police and the Bengaluru Police, a senior Delhi police officer said.
New guidelines by RBI on card usage will make it difficult for swindlers to dupe cardholders, but customers say security has come at the cost of convenience.
Money mule scam has put bankers on alert. Banks have decided to sensitise their customers against phishing and money mules. At a meeting held at the Indian Banks' Association on Wednesday, leading banks, including ICICI and HDFC, have decided to send communications to customers in this regard.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
According to him, there are enough laws but their implementation is important.
The rest, investigators claimed, were floated as "dummies" to act as cover for unleashing the alleged ponzi scheme.
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.
Understanding the basics of a sale deed can help you stay protected from getting duped. Let us see the basics of a sale deed, its importance, how it is prepared, what does it contain and how does it work! Read on . . .
Pinky Irani alias Angel, 53, was arrested in this case by the agency in December last year. She was recently granted bail by a Delhi court.
The most important step is delivering what is needed -- a fairer IPO pricing, notes Debashis Basu.
Official sources said a team of sleuths from the agency searched the flat located in Greater Kailash area yesterday in connection with their money laundering probe in the multi-crore chitfund scam.
The 46-count indictment alleged that between July 2010 and June 2011, Kaur and Singh owned and operated several companies based in Fresno for the sole purpose of defrauding hundreds of customers throughout the US.
An Indian-origin former accountant has been sentenced to seven-and-a-half years' imprisonment for duping people of 100 million ($197 million) in an international scam. Shinder Singh Gangar, 46, from Leicestershire, promised clients a return of up to 160 per cent a year on money invested with him. But there was no investment scheme and the money was not invested as promised. Instead it was put into offshore bank accounts.
The bill provides for severe punishment ranging from 1 year to 10 years and pecuniary fines ranging from Rs 2 lakh to Rs 50 crore to act as deterrent.
Imran, a Rajya Sabha MP, reached the agency's office in Salt Lake here and will be questioned about his connections with the defunct group owned by jailed Saradha Chairman Sudipta Sen.
Of the 854 stocks that quoted less than Rs 20 on March 23, 2020 - when the Sensex hit more than a three-year low - 482 have doubled.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
The incident had acquired political overtones with the Bharatiya Janata Party and West Bengal governor Jagdeep Dhankhar hitting out at the Mamata Banerjee government over the killings, and the RSS claiming the teacher was its supporter.
It's best to avoid deals that sound too good to be true.
Gosavi's photos and videos with actor Shah Rukh Khan's son Aryan Khan went viral on social media after the NCB's raid.
The businessman was summoned at the ED's office and was asked questions about the purported links of the alleged main accused of the case Amit Bhardwaj with his businesses.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
'The amount involved could as high as Rs 3,500 crore as there are a lot of depositors.' 'Yesterday, I met an investor who put in Rs 4 crore. That man doesn't have Rs 2,000 to spend on medicines.'
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
About 98.5 per cent of all spam calls in India originate from domestic numbers. However, spam calls received by users in India have decreased by 34%.
BJP spokesperson G V L Narasimhra Rao noted that Priyanka's husband Robert Vadra is accused of using "shady methods to make windfall profits from dubious real estate transactions" and said the report of her receiving Rs 2 crore from Kapoor for a painting which was not her own shows that the powerful couple have leveraged their political power to make "private gains".
Companies owned by fugitive diamantaire Mehul Choksi have allegedly siphoned off over Rs 6,344.96 crore from the Punjab National Bank (PNB) using fraudulent letters of undertaking and foreign letters of credit, a CBI investigation into the scam has detected. The findings were submitted by the CBI in a supplementary chargesheet filed before a special court in Mumbai last week, where the agency said the PNB was conned by its employees who were allegedly hand in gloves with Choksi and his company executives and who facilitated the scam as part of a criminal conspiracy. The PNB officials at the bank's Brady House branch in Mumbai issued 165 letters of undertaking (LoUs) and 58 foreign letters of credit (FLCs) during March-April 2017, against which 311 bills were discounted.
Moving ahead in the multi-crore Saradha chit funds scam case, the Enforcement Directorate (ED) on Wednesday attached assets, including a school, a cement factory and few resorts, worth Rs 60 crore (Rs 600 million) in West Bengal in connection with its money laundering probe.
Calling Prime Minister Narendra Modi the 'world's biggest conman' who was duping people with false promises, the Rashtriya Janata Dal on Thursday launched a 'halla bol' movement against him.
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
The Enforcement Directorate on Wednesday night arrested the wife and son of the alleged kingpin of the multi-crore Saradha chit fund scam accused Sudipta Sen in a money laundering case.
Prashant and Abhay were nabbed after one Manoj Kumar Sauguna complained that he had deposited approximately Rs 1.47 lakh in their account after he got an e-mail that he had won a million pounds in an online lottery, the police said on Tuesday.
The Centre on Tuesday said it will not seek disclosure of flash sales from e-commerce players to regulate the fraudulent sale of goods and services but will take appropriate action as per the law on consumer complaints. Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the e-tailers need not be "anxious" about the draft rules. Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer -- are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.
Get Ahead reader Manmohan Singh explains how NFC technology will revolutionise the way we make secured payments.
On July 23, the apex court had cracked its whip on errant builders for breaching the trust reposed by homebuyers and ordered cancellation of the registration of Amrapali Group under the real estate law RERA, and ousted it from its prime properties in the NCR by nixing the land leases.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
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The Union Cabinet on Wednesday had approved the proposal to amend the Sebi Act and other relevant regulations that would give greater powers to the regulator in its efforts to tackle all kinds of money-collection schemes, as also to effectively crackdown on defaulters in the stock markets.
