As a multi-agency probe continues in Saradha scam, findings of one official investigation suggests that the group floated at least 279 companies to channelise money collected from gullible investors as part of a vast 'ponzi' network.
It is the biggest issue we have ever faced in the securities market, where a sensitive and systemically important institution and first-line regulator was not only exploited by unscrupulous elements but functioned like a private fief, points out Debashis Basu.
The party said that the Delhi cricket body had become a den of corruption during Jaitley's 13-year rule.
Addressing a press conference a day after the CBI raid against him, Sisodia expressed apprehension that the agency or the Enforcement Directorate (ED) may arrest him in the next 3-4 days, while Chief Minister Kejriwal, who has been aggressively taking on the Bharatiya Janata Party in Modi's home state, announced on Twitter that he will be touring Gujarat with Sisodia from Monday.
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
Amid a rise in Omicron cases, the Ministry of Home Affairs (MHA) has issued an advisory against cybercriminals targeting potential victims by offering them free tests for detecting Omicron variant of COVID-19.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
Varun was all but locked in to play Harshad Mehta by Paresh Rawal. But the script for the bio-pic was stuck. They finally had to scrap the idea.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
The Jharkhand government has ordered a probe by the Anti-corruption Bureau into the alleged amassing of disproportionate assets by former ministers in the previous Bharatiya Janata Party government in the state.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
Any erosion in the TMC, may benefit the BJP, reports Ishita Ayan Dutt.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
The former Bihar chief minister has seven criminal cases against him, most of them related to cheating and forgery. Vicky Nanjappa reports
The Enforcement Directorate (ED) has attached assets worth over Rs 757 crore of one of the country's most known multi-level marketing (MLM) and direct-selling companies, Amway India, as part of a money-laundering investigation. The central agency issued a statement on Monday, alleging that the company was perpetrating a "scam" by running a pyramid "fraud" in the guise of direct-selling MLM network. "The entire focus of the company is about propagating how members can become rich by becoming members. There is no focus on the products. "Products are used to masquerade this MLM pyramid fraud as a direct-selling company," the ED alleged.
Proceedings in both Lok Sabha and Rajya Sabha were disrupted as Opposition members raised slogans demanding a discussion and a Joint Parliamentary Committee (JPC) probe into the fraud-allegation-triggered rout.
Maharashtra government on Saturday gave a clean chit to Deputy Chief Minister Ajit Pawar in the irrigation scam as it tabled in the Legislative Assembly the report of Madhav Chitale committee on the issue alongwith the Action Taken Report.
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%.
The military establishment is in no mood to forgive or forget Imran's anti-military utterances, observes Rana Banerji, who headed the Pakistan desk at RAW, India's external intelligence agency.
The agency detected the fixed deposits in State Bank of India, Axis Bank and Bank of India during the questioning of several close aides of Mondal and other witnesses during its ongoing probe in the case, they said.
In a relief to former Maharashtra chief minister Shivajirao Patil-Nilangekar, the Central Bureau of Investigation on Thursday gave him a clean chit in the Adarsh Housing Society scam.
Scammers and fraudsters keep coming up with creative ways to gain access to sensitive information and only by being alert and aware of such attempts can data privacy be truly maintained.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
It is alleged that Kapoor's family received kickbacks for Yes Bank's investment in DHFL's debentures.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
There's merit in the premise of 420 IPC but Manish Gupta's flat execution never delivers its promise, feels Sukanya Verma.
Former coal secretary and four others, including two serving government officials, were on Friday granted bail by a special court in connection with a coal blocks allocation scam case.
The launch of a new party by former Karnataka minister and mining baron G Janardhana Reddy has spiced up the poll scene in parts of state.
'Our mandate is to work in a transparent manner, keeping two objectives in mind - consumer interest and growth of the telecom sector.'
The NCR and the MMR together account for 77 per cent of 10 big housing projects stuck because of developers' bankruptcy or litigation.
The Central Bureau of Investigation on Monday questioned Arvind Jayaswal, director AMR Iron and Steel Private Limited, in connection with alleged irregularities in allocation of Bander coal block in Maharashtra to the company.
The quizmaster-turned-parliamentarian was interrogated for about two hours on some financial transactions in bank accounts related to the TMC mouthpiece 'Jago Bangla'.
The agency said files of the case were sent to competent authority.
"There will always be brilliant fraudsters who will find newer ways. The need is for utmost vigilance, diligence and honesty on the part of those who are entrusted with the job of regulation and auditing."
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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