'The investigation is at preliminary stage, therefore, from the available record, it can not be said that there are no reasonable grounds to connect the accused (Rhea) (to the case),' the court observed. The court also said there is possibility of the accused tampering with evidence if released on bail.
Wants details of Vijay Mallya transactions over 4 years
Britain and Canada have already banned Naik from visiting several years ago.
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.
Former Mumbai police commissioner Rakesh Maria has claimed his successor Ahmed Javed knew Sheena Bora murder case accused Indrani and Peter Mukerjea socially, and that Peter also knew the then joint commissioner of police (law and order) Deven Bharti on "first name terms". Maria, who investigated some high-profile cases like the 1993 Mumbai serial blasts and also headed the probe in the 26/11 Mumbai terror attack, made the revelation in his memoir Let Me Say It Now released on Monday.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
Senior counsel Amit Desai, appearing for Aryan Khan, termed the NCB's contention as 'inherently absurd' and argued that when there was no recovery of drugs from him, then he should not be penalised at the stage of granting bail.
The CBI also told the court that it has sought Interpol's help in seeking access to overseas bank accounts of the Mukerjeas
ED lawyer Hiten Venegaonkar contended that huge amount of money was laundered and Shah's acts constituted a very serious economic offence
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 Central Bureau of Investigation on Monday questioned former Indian air force Chief S P Tyagi and two others in connection with alleged irregularities in the AgustaWestland helicopter deal.
The income tax department has detected alleged tax evasion to the tune of Rs 7 crore in the business transactions of Purti group of companies related to former Bharatiya Janata Party president Nitin Gadkari.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
Strangely, a few days after filing the charges, the CBI teams arrived in Hyderabad and Mumbai to raid GVK's offices and found incriminating evidence, a reversal of the normal course of events.
The agency claimed that these accused were trying to "advance the cause of ISIS and establish Caliphate in India".
Sebi on Monday barred total 85 entities, including Sunrise Asian Ltd, from the capital markets for up to one year for manipulating the company's share price. In its order, the regulator restrained Sunrise Asian and its then five directors from the capital markets for one year and the 79 connected entities for six months. The Securities and Exchange Board of India (Sebi) had conducted an investigation in the scrip of Sunrise Asian for the period from October 16, 2012 to September 30, 2015, based on a reference received from the Principal Director of Income Tax (Investigation), Kolkata.
"The day Crime Branch took Raj Kundra to his Mumbai home for the searches, the Shilpa Shetty was questioned too. Shilpa was very upset after the interrogation. She and Kundra had a huge argument where she shouted and asked him what was the need of doing such a thing and why he did everything. The Crime Branch team had to intervene between the couple to pacify the actress," the sources said.
The Rajya Sabha MP, who is also a spokesperson of West Bengal's ruling party, was asked to appear before a CBI team in the first week of August, officials said on Friday.
Officials said multiple premises of Baig and his associates are being raided by the agency under the provisions of the Prevention of Money Laundering Act
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
Shashi Tharoor on Friday appeared for the third time in two days before the SIT.
The Delhi high court on Wednesday allowed Chinese smartphone maker Vivo to operate its various bank accounts frozen by the Enforcement Directorate in connection with a money-laundering probe subject to furnishing of a bank guarantee of Rs 950 crore within a week with the agency. Justice Yashwant Varma also directed the company to give details to ED about its remittances and issued notice to the investigating agency on Vivo's plea seeking quashing of the order freezing its various bank accounts. ED contended that presently the proceeds of crime have been quantified to Rs 1200 crore.
The agency's probe till now found that huge monies were transferred through RTGS transfers to some shell companies including a case where the director of such a firm was a petty labourer
In its second ruling against Google in less than a week, the Competition Commission on Tuesday slapped a penalty of Rs 936.44 crore on the internet major for abusing its dominant position with respect to its Play Store policies.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
A special court denied Christian Michel bail in the related Central Bureau of Investigation case.
A special Central Bureau of Investigation court in Mumbai has convicted four former bank officials in one of the multi-crore securities scam cases and sentenced them to three years imprisonment, 25 years after the scam involving 'Big Bull' Harshad Mehta came to the fore.
Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5 per cent of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India - the country's largest lender - reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021.
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
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.
The proposed measures aim to bring stricter norms to curb holding of illegal cash and mismanagement of unaccounted cash seized by the probe agencies during investigations.
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
Officials said Gaurav Arya, who runs a hotel in the coastal state, has been asked to depose before the central probe agency at its office in the Ballard Estate area of Mumbai on August 31.
Limited IT staff may compel them to focus on big fish than small depositors.
The HC asked the investigators to look beyond their current line of probe to apprehend the culprits.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
The Financial Intelligence Unit last month marked 200 transactions in India -- running into Rs 2000 crore -- as terror-financed. Now, it has commenced its probe to trace the origin of the funds.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
The Central bureau of Investigation on Tuesday filed a closure report in a seven-year-old case of alleged bribery in the Rs.1,150 crore Barak missile deal in which former Defence Minister George Fernandes and the then Naval Chief Admiral Sushil Kumar were accused.
