Justice V B Gupta passed the order on a petition filed by the Centre challenging the lower court's December 13 order in which it had allowed Chandraswami, facing trial in ten Foreign Exchange Regulation Act violation cases, to go abroad.
Under pressure from India and other countries, Switzerland has made key changes in its local laws governing assistance to foreign nations in their pursuit of black money allegedly stashed in Swiss banks.
The ED had initiated proceedings against the two for alleged violation of FEMA.
The President had been moved out of his residence on Friday, in anticipation of Saturday's protests.
The ED has attached assets to the tune of Rs 9,003 crore and filed 173 charge sheets in the financial year 2014-15.
The Enforcement Directorate had invoked Section 68 of the Foreign Exchange Regulations Act against a number of top executives of the banks.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
Pakistan Rangers resorted to ceasefire violations by targeting civilian population in RS Pura sector in Jammu.
Among the Sensex firms, Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, HCL Technologies, Larsen & Toubro, ITC, Sun Pharma, NTPC and Titan were the major gainers. Nestle, Axis Bank, Tata Motors, ICICI Bank, HDFC Bank and Bharti Airtel were the laggards.
One of the allegations against Chandraswami is that he financed the assassination of Rajiv Gandhi, CBI told a Delhi court.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The government's poor handling of the economic crisis where people currently endure long hours of power outages and scarcity of essentials has angered the public which planned country-wide protests on Sunday.
Remittances by artists and for advertisements, royalty payments, purchase of trademarks, commission to real estate agents and health insurance from abroad would no longer require RBI clearance.
The Securities and Exchange Board of India's (Sebi's) investigation into the Hindenburg allegations is making slow progress when it comes to obtaining information from overseas regulators, particularly around ultimate beneficial ownerships of certain foreign portfolio investors (FPIs), said people in the know. "Establishing ultimate beneficial ownerships for FPIs is a very complex exercise. "Several jurisdictions allow omnibus structures where the end beneficiaries are not required to be captured or are based in some other geographies.
After India firmly told China that its violation of the border pacts has "eroded" the entire basis of bilateral ties, China's defence ministry on Friday said the situation at the border is "generally stable" and both sides should put the boundary issue in an "appropriate position" and promote its transition to "normalised management".
The chief minister pointed out that prompt action had been taken by the Punjab Police and the accused had been caught without delay, unlike in the Hathras incident. "That was why Rahul Gandhi had to rush to Hathras, to secure justice for the victim's family, and did not need to visit Hoshiarpur," he said.
In a fresh development in NSEL's Rs 5,600 crore scam, the Enforcement Directorate (ED) on Monday registered a preliminary inquiry into the payment crisis, suspecting large-scale money laundering in the beleaguered spot exchange, a senior official said.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
The RBI cracked down on offshore foreign exchange trading by Indians through online trading websites.
In a significant win for the Adani group, the Supreme Court on Wednesday refused to transfer the probe into allegations of stock price manipulation by the Indian corporate giant to a special investigation team or the CBI, saying market regulator SEBI was conducting a "comprehensive investigation" and its conduct "inspires confidence".
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
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."
Glimpses from Yudh Abhyas, the India-US military exercise currently being conducted in Tapovan, Uttarakhand, 100 km away from the Line of Actual Control.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
Such service providers were given time until the end of October to follow the law of the land.
Rejecting the allegation of illegally receiving foreign funds, Aam Aadmi Party has told the Delhi high court that it got donations worth Rs 30 crore from Indian citizens only, out which about Rs 8.5 crore came from NRIs.
To send a notice under money laundering law.
The counsel for the Centre said the proposal has been sent to the economic affairs department for further approvals, which would also be processed and the petitioner can apply for requisite visa permits.
Regulator believes Jet Airways deal triggers open offer
The Delhi high court on Friday sought response from the Central Bureau of Investigation (CBI) on the bail plea by former managing director and chief executive officer of the National Stock Exchange (NSE) Chitra Ramkrishna in connection with the co-location case. Justice Sudhir Kumar Jain issued notice on the bail application and listed the case for further hearing on May 31. The trial court had dismissed the bail plea of the former NSE boss on May 12 and said that no ground for bail was made out at this stage.
'The economic crisis hit us from nowhere. No one saw it coming.'
ED's application, filed through prosecutor N K Matta, had requested the court to direct the accused for his physical appearance in the case which is at its final stage.
China's official media reported air and ground movement of troops in Taiwan Straits -- the waters that separate China and Taiwan -- as US House Speaker Nancy Pelosi landed in Taipei on Tuesday disregarding Beijing's stern warnings.
India's blunt message followed a series of ceasefire violations along the LoC in Jammu and Kashmir by Pakistan which resorted to mortar shelling of Indian areas.
Ahead of the key vote by Hutchison Telecom shareholders on sale of Indian assets to Vodafone, the Hong Kong-based firm and its minority partners in Hutch-Essar have asserted that their investments met foreign direct investment norms
CAs not sure if individuals declaring unaccounted money will get immunity from reassessment as these provisions are not covered in the Bill.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
"As an organisation committed to the rule of law, our operations in India have always conformed with our national regulations. The principles of transparency and accountability are at the heart of our work.".
The Supreme Court on Thursday directed the Enforcement Directorate to file by February 8 the status report on its probe into coal scam for suspected money laundering and foreign exchange rules violations.
The Securities and Exchange Board of India (Sebi), the market regulator, has said, in a submission to the Supreme Court, that it is "enquiring" into the allegations made by American short-seller Hindenburg Research against the Adani Group of companies and its impact on the markets. In the same matter, the central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected. The Supreme Court had last week suggested an expert committee to look into the allegations and had asked the Centre for its response.
