Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
Prime Minister Narendra Modi on Tuesday told Russian President Vladimir Putin that a solution to the Ukraine conflict is not possible on the battlefield and peace efforts do not succeed in the midst of bombs and bullets even as he flagged concerns over a missile strike on a children's hospital in Kyiv.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
This money was found wrapped in newspapers and was concealed in their check-in baggage.
The approval comes few days before the company has to clear statutory liabilities of up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is spectrum dues.
Shares reserved for Qualified Institutional Buyers (QIB), including banks and mutual funds in the LIC's public offer were subscribed fully on Monday morning, taking the overall subscription of the issue to a little over 2 times. Against 3,95,31,236 reserved, 4,61,62,185 bids were received, reflecting a subscription of 1.17 times, according to data posted on stock exchanges at 12:12 pm. Non institutional investors' portion was subscribed 1.38 times.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
The Delhi Police, in a first information report (FIR) filed under anti-terror law Unlawful Activities (Prevention) Act (UAPA) following allegations against news portal NewsClick, has alleged that a large amount of funds came from China in order to disrupt India's sovereignty and cause disaffection against the country.
Official sources said the ED will focus on the event managers and will also issue summons to them under the Foreign Exchange Management Act (FEMA) to explain how they got the foreign exchange that was paid to the singer.
Admiral Puri says it would be wasteful to buy a foreign helicopter, pay for transfer of technology, and develop manufacturing capability in an Indian private sector strategic partner when all this already exists with HAL.
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
Prime Minister Narendra Modi in his first-ever in-person meeting with President Joe Biden raised a number of issues involving the Indian community in America, including access for Indian professionals in the US and speaking about the H-1B visas, Foreign Secretary Harsh Vardhan Shringla has said.
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar Pradesh, Meghalaya, Maharashtra and others. The agency is conducting searches at 44 places related to Vivo and associated companies, they said.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
At least 10 persons were admitted to the National Hospital after the confrontation between protesters who have currently been staying inside the prime minister's official residence, the Colombo Post news portal reported.
The finance ministry said on Tuesday that high energy and commodity prices due to the Russian invasion of Ukraine may provide an upside risk to inflation and continued vigil is required. "Going forward, elevated energy and commodity prices may act as an upside risk to the inflation outlook in the near-medium term. "Given the inherently unsustainable nature of high prices, international commodity prices are expected to level off early with an increase in supplies outside the crisis zone," the department of economic affairs said in its latest monthly economic report for February.
The SC's dismissal of the Income-Tax department's plea that companies cannot claim deductions against tax liabilities on account of losses due to foreign exchange rate fluctuations legitimises the way companies were accounting for these forex losses.
Announcing the hotline, the Chinese defence ministry said as agreed upon by the defence departments of China and Japan, the two sides have recently completed the construction of a direct telephone line for the sea and air liaison mechanism and will maintain communication on the arrangement for the launch.
Switzerland has been perceived for long as a safe haven for alleged illicit funds or black money
India and the US agreed to continue their cooperation in the areas of defence, space and clean energy as External Affairs Minister S Jaishankar met Secretary of State Antony Blinken here, amid a simmering diplomatic row between India and Canada over the killing of a Khalistani separatist.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
The Centre is pushing for bilateral trade with Cuba and its settlement in rupee as a part of its strategy to internationalise the domestic currency. A delegation from Cuba, including officials from its central bank, met Indian government officials and banks last month to discuss bilateral trade and settlement using the Reserve Bank of India's (RBI's) payment mechanism in rupee, said people aware of the matter. Since the Cuban nation has opened up its economy and is looking to implement reforms to attract investments from India, Cuban banks have evinced interest in opening special rupee vostro accounts (SRVAs) with Indian banks.
The Union Cabinet on Thursday approved a proposal to allow 100 per cent foreign direct investment (FDI) in public sector refiners, expanding the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL). The approval by the Cabinet will enable the sale of the government's 52.98 per cent stake in BPCL to a foreign buyer, and, at the same time, will open the door for FDI in other public sector companies in the oil sector put up for privatisation.
In a much-needed relief for foreign students looking to study in the US, the Biden administration has announced they can now apply for a visa up to a year before their academic term begins.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
'We appreciate his positive evaluation of the relationship and share his optimism about its future directions.' 'We look forward to welcoming him in India next week for detailed discussions on further strengthening of our partnership,' the MEA said on Friday.
'Countries like Israel said openly that they will hunt people down. We have no such policy.' 'We have always been following the legal process of getting them (people wanted by India) through extradition.'
India's high commission in Canada said on Wednesday that the country's officials will resume processing some types of visa applications for Canadians applying from across the country as well as abroad.
Many argue there's a mismatch between Prime Minister Narendra Modi's focus on international exposure and his government's diktat to officials on limiting travel.
China on Tuesday announced that its Defence Minister General Li Shangfu will visit India this week to attend the meeting of SCO defence ministers from April 27 during which he is expected to hold talks with his Indian counterpart Rajnath Singh on ending the prolonged eastern Ladakh standoff which has severely strained bilateral ties.
Speaking about the issue in India in March 2012 at a media conclave, Kissinger defended his use of unparliamentary language while referring to Prime Minister Indira Gandhi.
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