Market regulator Securities and Exchange Board of India (Sebi) in its investigation against Indiabulls Housing Finance has found the mortgage financier non-compliant with regards to unavailability of certain information on its website as well as its internal policy. Thereby, it has directed the company to take corrective measures and inform the stock exchanges in a months' time. Several public interest litigations (PILs) and FIRs were filed against Indiabulls Housing Finance back in 2019, alleging irregularities, siphoning of funds, and other violations committed by the promoters of the company.
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
The Supreme Court has rejected an appeal by Vijay Mallya to overturn charges against him for allegedly violating foreign exchange rules, adding to the legal challenges facing one of the country's most prominent businessmen.
The protesters started marching towards the PM's residence shouting slogans and holding anti-government placards.
Sushant Singh Rajput's sister Shweta Singh Kirti posted a cryptic quote on her social media platforms saying people should think about the consequences before messing up with someone.
Responding to a query about corruption in the scheme's implementation, Minister of State for Rural Development Upendra Kushwaha said almost all members know about it and added that steps are being taken for improving the scheme.
The government, he said, will leave no stone unturned to bring to justice anyone indulging in financial irregularities.
India said it will continue to extend its developmental assistance to the friendly people of Sri Lanka.
Actor Taapsee Pannu and director Anurag Kashyap resumed shooting for their film Dobaaraa on Saturday, both using social media to speak for the first time since Income Tax raids on their premises with posts indicating their spirit remained intact.
Supreme Court has posed a question to Mallya about the truthfulness of his disclosure of assets and transfer of $40 million to his children
Sirisena's sacking of Wickremesinghe was the culmination of an year of bitter relations between them on several policy matters. The president has been critical of the prime minister and his policies, especially on economy and security.
The Congress alleged that the money-laundering law has been weaponised to target and humiliate people, and urged the Supreme Court to decide soon on the matter concerning the National Herald-Associated Journals Limited case.
The case pertains to alleged financial irregularities in supply of high-altitude tents worth Rs 22 crore to intelligence agency Research and Analysis Wing during 2009-13.
Sources claimed that Singhal was "evasive" in her replies and hence was arrested.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
The CBI has booked Kanpur-based Rotomac Global and its directors for Rs 750.54 crore for alleged fraud in Indian Overseas Bank, officials said. The company, which was in the business of writing instruments, has a total outstanding of Rs 2,919 crore against a consortium of seven banks led by Bank of India in which Indian Overseas Bank has an exposure of 23 per cent. The agency has booked the company and its Directors - Sadhna Kothari and Rahul Kothari - under IPC sections related to criminal conspiracy (120-B) and cheating (420), besides various provisions of the Prevention of Corruption Act.
The Nitish government has increased pressure on Governor Phagu Chauhan to take action against vice chancellors of two universities following allegations of corruption against them.
Congress leader Rahul Gandhi was questioned for over eight hours by the Enforcement Directorate for the second consecutive day in the National Herald money-laundering probe and was again summoned on Wednesday, even as the opposition party continued its protests and sparred with the BJP, accusing it of conspiring to defame the Gandhi family through the ''false'' case.
Sticking to the demand for the sacking of Chief Minister Vasundhara Raje over 'Lalitgate', Rajasthan Congress on Friday submitted a memorandum to Governor Kalyan Singh charging that her position has become "untenable" in view of the controversy.
The EOW conducted searches at the house of PC Singh, the bishop of the Church of North India Jabalpur Diocese, on Thursday morning following registration of a case of cheating against him.
The crisis at the bank is attributed to loans made to realty player Housing Development Infrastructure Ltd, which were allegedly hidden from regulators' scrutiny, turning non-performing assets.
In a major development in the fight against black money, multilateral grouping OECD today unveiled a 'single global standard' for automatic exchange of financial account information by various countries including India and Switzerland.
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
They have also been accused of extending loans for criminal intent of falsification of repayment by a number of borrowers, including some entities associated with large corporate groups.
The noted lawyer said that his request to Doval is part of the enquiry procedure which calls for appropriate "logistical infrastructure" before beginning the probe.
BSES entities BRPL (BSES Rajdhani Power Limited) and BYPL (BSES Yamuna Power Limited) supply electricity to around 12 lakh and 16 lakh customers respectively.
However, the RBI declined to share details of action being taken on these fraud cases saying "it is not readily available".
The airline had renewed its insurance on Oct 1 for nearly $29 million to cover its 132 aircraft.
The statement from the CBDT came as raids on the homes and offices of Bollywood actor Taapsee Pannu, director Anurag Kashyap and his partners who launched the now shuttered Phantom Films continued in Mumbai, Pune and Hyderabad for the second day. The searches also covered some executives of celebrity and talent management companies KWAN and Exceed, officials said.
Unperturbed at the prospect of a possible life ban, a defiant Lalit Modi on Tuesday continued his tirade against Board of Control for Cricket in India president N Srinivasan and said he will not "sit back quietly" and watch the Tamil Nadu strongman "destroy" Indian cricket.
The prime accused deployed a modus operandi of claiming the investment in real estate purchased in the name of third party as unsecured loan
Congress chief Sonia Gandhi's son-in-law said that he was a political victim but never misused his position or ran away with anyone's money.
Banerjee slammed the opposition for a "malicious campaign" launched against her, asserting that she does not support corruption.
Narendra Modi and veteran Bharatiya Janata Party leader L K Advani are among the ten members of Parliament elected from Gujarat, who are facing criminal charges.
Congress leader Rahul Gandhi was questioned for over 10 hours by the Enforcement Directorate in a money-laundering probe linked to the National Herald newspaper and was called to depose again on Tuesday, as his party protested across the country, alleging that the Centre was targeting the Opposition by misusing agencies.
Unfortunately, in India, infrastructure projects are lost in a miasma of political and personal vanity, observes Shyam G Menon.
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.
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.
Vishwas said before making an apology, he wants to know if Kejriwal lied earlier.
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