Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title.
The formidable political leader and former union minister was sentenced by a special Central Bureau of Investigation (CBI) court to five years' prison term and slapped with a fine of Rs 60 lakh during the day in connection with the embezzlement of Rs 139 crore from Doranda treasury in the fodder scam.
The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence.
The unidentified youths shot Nijjar, a designated terrorist, inside the premises of Guru Nanak Sikh Gurdwara Sahib, of which he was the head, at Surrey at 8:27 pm (local time) on Sunday, they said.
Ekka, who is embroiled in the controversy for allegedly signing official documents at a private place, was removed from the post following Bharatiya Janata Party's allegation of his conniving with middlemen.
"Lalu Prasad has been sentenced to 5 years imprisonment while a penalty of Rs 60 lakh has also been imposed on him. Apart from Prasad, five years imprisonment each was announced by the Court for five convicts, four years each for 32 convicts and three years each for three convicts," CBI counsel B M P Singh told PTI.
Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
Supporters of a Hindu rights group, which spearheaded mass protests demanding better treatment for ethnic Indians in Malaysia, are being investigated for allegedly misusing several hundred thousand dollars in donation funds, the police said.
The case involves fraudulent withdrawals amounting to Rs 33.67 crore from the Chaibasa treasury in undivided Bihar, when Lalu Prasad was the chief minister.
The agency has booked Sisodia, a 1992-batch IRS officer Sukesh Kumar Jain who was then secretary of vigilance, retired CISF DIG Rakesh Kumar Sinha who was working as special advisor to Chief Minister Arvind Kejriwal and joint director in the Feedback Unit, they said.
In a major relief for Imran Khan, Pakistan's Supreme Court on Thursday declared the former prime minister's arrest "illegal" and ordered his immediate release after he was produced before a bench on its orders.
Rashtriya Janata Dal chief Lalu Prasad was fined Rs 6,000 by a court in Jharkhand's Palamu district on Wednesday for violating the model code of conduct during the 2009 assembly elections in the state.
Police on Friday registered a case against two former officials of Jammu and Kashmir Cricket Association (JKCA) following allegations of misappropriation of funds, received by the body from the BCCI.
The Supreme Court on Wednesday questioned the CBI and the Gujarat government as to why they want to send social activist Teesta Setalvad and her husband Javed Anand back in jail after they have been out for over seven years on anticipatory bail.
Suspended Jharkhand IAS officer Pooja Singhal was paid "commission" by subordinate staff from MGNREGA funds of Khunti district which she and her husband subsequently utilised for acquiring various properties, the Enforcement Directorate (ED) claimed in a statement on Wednesday.
A sum of Rs 11.73 crore (Rs 117.3 million) was found to be misappropriated in the National Rural Employment Guarantee Programme in Andhra Pradesh, the Chief Minister's Office (CMO) has said.
Recorded versions or bhajans being recited by those present at the temples were played out at around 5 am to counter the morning azaan being recited on the loudspeakers.
The Central Bureau of Investigation has filed a charge sheet against noted Malayalam author Paul Zacharia and four others including two charitable organisations in a case related to embezzlement of foreign funds.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
She has been called again on Wednesday for a fresh round of grilling.
'From what evidence has come up, General Bajwa somehow managed to tell the Americans that I was anti-American.' 'And so, it [the plan to oust me] wasn't imported from there. It was exported from here to there.'
The Centre's new interlocutor for Naga peace talks, A K Mishra, has held an 'informal' meeting with the Working Committee of the Naga National Political Groups (NNPGs), the bloc said on Thursday.
The Supreme Court on Wednesday dismissed the plea for interim bail of former Fortis Healthcare promoter Shivinder Mohan Singh who along with others is accused of misappropriating Rs 2,397 crore of Religare Finvest Ltd (RFL) funds. Singh had sought interim bail for a short period on "humanitarian grounds" for helping his ailing mother to take part in the last rituals of his maternal uncle, who died on March 8 in Haryana. "We are of the opinion that the presence of the accused was not a must...," said a bench of Justices M R Shah and B V Nagarathna while dismissing the plea.
Today, a friendship forged by common ideals behind prison walls has become a transactional understanding, notes Aditi Phadnis.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
Jharkhand mining secretary Pooja Singhal, earlier arrested and remanded to the custody of the ED in a suspected money laundering case, was suspended by the Jharkhand government on Thursday, an official said.
Sources claimed that Singhal was "evasive" in her replies and hence was arrested.
The opposition Peoples Democratic Party (PDP) has described Dr Farooq Abdullah's defence of the beleaguered BCCI president N. Srinivasan 'as part of his cover up to escape punishment for alleged embezzlement in the Jammu and Kashmir Cricket Association'.
'With each ED, CBI raid on us the BJP thinks we will soften down.' 'But every such raid has strengthened the resolve of Shiv Sena leaders.'
He had already been granted bail in the Chaibasa Treasury Scam case in October 2020, and in the Deoghar Treasury Scam case in February 2020.
In its judgment delivered at a packed room, the court sentenced Bo to life in prison on the bribery charges, 15 years for embezzlement and seven years for abuse of power
A former chief of Beijing's local taxation bureau was sentenced to death, with a two-year reprieve, for accepting bribes and embezzling up to 10 million yuan, as part of a crackdown on officials facing corruption charges.
Gerhard Gribkowsky, an ex-BayernLB banker, is on trial charged with selling Formula One rights in return for a bribe, with the involvement of Ecclestone.
Norway on Wednesday gave a clean chit to Grameen Bank founder Muhammad Yunus, saying it found no evidence of donor fund embezzlement by his bank, removing a cloud that had hovered over the Nobel Laureate.
Disgraced former Communist Party leader Bo Xilai was Thursday charged with bribery, embezzlement and abuse of power by prosecutors in China's eastern Shandong Province.
An Egyptian court on Wednesday sentenced ousted president Hosni Mubarak to three years in prison after finding the 86-year-old leader guilty of embezzling public funds, three years after he was toppled following a popular uprising.
The indictment comes seven months after another Dhaka court issued an arrest warrant against the 69-year-old ex-chief justice who lives in the United States
In a major blow to Nirav Modi, a bankruptcy court in the US has rejected a petition of the fugitive diamond merchant and two of his associates, seeking dismissal of fraud allegations against them by the trustee of three companies they previously owned indirectly.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Former Test cricket umpire Darrell Hair has been handed an 18-month good behaviour bond by an Australian court after pleading guilty to charges of embezzling and stealing money from a liquor store where he worked, local media reported on Tuesday.
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