In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
The federal agency has filed a complaint under the criminal sections of the Prevention of Money Laundering Act (PMLA) after studying at least two police first information reports (FIRs) and subsequent charge sheets before a court.
These foreigners had attended the event in March, following which in April COVID-19 cases across the country spiked after hundreds of Tablighi Jamaat members, who had attended the religious congregation at Nizamuddin Markaz event, tested positive.
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
The agency's latest action, under Prevention of Money Laundering laws, had been taken against the borrower company and its two group companies, which owe the investors Rs 922 crore (Rs 9.22 billion), sources said.
National Spot Exchange Limited, promoted by Jignesh Shah-led Financial Technologies, is facing payment crisis of Rs 5,600 crore (Rs 56 billion).
Analysts say that PMC Bank case is only going to make matters worse for HDIL and the Wadhawans.
The Ministry of Corporate Affairs ordered the inspection of the books of accounts of NSEL and Financial Technologies India Ltd to ascertain if any rules under the Companies Act were violated, a senior official said.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
The 91 foreigners from 21 countries were chargesheeted for attending Markaz at Nizamuddin in New Delhi allegedly in violation of visa conditions, indulging in missionary activities illegally and violating government guidelines issued after the COVID-19 outbreak.
Whistle-blowers allege the brothers violated court orders by selling assets like art and real estate worth crores bought by funds from their companies.
After two decades of negotiations, India and Thailand have finally put ink to paper and sealed the extradition treaty between the two countries, says Rediff.com's Vipin Vijan, who is travelling with Prime Minister Manmohan Singh to Thailand
The Calcutta high court on Tuesday directed the Central Bureau of Investigation to file an affidavit by Thursday stating whether the central investigating agency had been handed over investigation by other states into the multi-crore chit fund scam that affected lakhs of investors.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
'A separate 'Investigation Agency (Other Offences)' or IA(OO), can be created under the state governments, with the expertise and resources required for investigating non-violent offences,' recommends Alok Tiwari, a Cabinet Secretariat officer.
Enforcement Directorate alleged that he was not cooperating and sought his custodial interrogation.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
The department of economic affairs is said to be in discussions with various probe agencies, including the income tax department and the Enforcement Directorate, and bankers in drafting the final rules.
'It is just that they are not in the limelight in a city like Mumbai.' 'It is not a lonely journey, but a tough journey for sure.'
The gold, weighing over 30 kg, was seized from the "diplomatic baggage" that had landed by air cargo at the Thiruvananthapuram international airport recently from the Gulf.
Shah is likely to be released later on Friday evening or Saturday after completing the formalities.
The top court had granted bail to Chidambaram in the case lodged by the CBI saying he is neither a 'flight risk' nor is there a possibility of 'his abscondence from the trial'.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
Sanjeev Khanna, the step father of Sheena Bora and a key accused in the sensational murder case, was on Tuesday remanded in judicial custody till September 21.
The ED opposed the bail plea of the accused, saying they indulged in a "very serious" economic offence.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
After an all-party meeting in New Delhi, Parliamentary Affairs Minister Pralhad Joshi also said that some of these 32 bills have already been discussed by standing committees of Parliament.
President Droupadi Murmu administered him the oath at a brief ceremony held at the Rashtrapati Bhavan.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
Somaiya had on Sunday claimed he was barred from entering Kolhapur with the district authorities citing law and order as well as security concerns following his allegations of corruption against Maharashtra Rural Development Minister Hasan Mushrif.
For the first offence, a person can be given a rigorous punishment of one to seven years with a fine ranging from Rs 1 lakh to Rs 3 lakh.
The BJP-led National Democratic Alliance released its manifesto for the February 20 Punjab polls on Saturday, promising a slew of sops for various sections, including 75 per cent reservation in all government jobs for youngsters from the state, an unemployment allowance, 35 per cent reservation for women in government jobs and massive infrastructure development.
Last month, the bank was placed under Prompt Corrective Action due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.
The modern world will not accommodate bigotry of the sort India is showing the world today, argues Aakar Patel.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
Senior Maharashtra Indian Police Service officer Sunil Paraskar, accused of raping and molesting a model-turned-actress, has declined to undergo a polygraph test while the victim expressed readiness to face the scientific examination.
This is not an election Budget in the sense that I might target the voter in the coming elections. But if you look beyond this round of state elections, and tilt the periscope to graze at the more distant horizon, see how the Narendra Modi government wishes things looking by the summer of 2024, observes Shekhar Gupta.
Official talks were held between Modi and Seikh Tamim for multi-sectoral partnership and strengthening of Indo-Qatar ties following which the agreements and Memorandums of Understanding were signed on the second day of the Prime Minister's visit.
