Sandeep Raut has been asked to depose before the central agency at its office in Mumbai next week, they said, adding his statement will be recorded under the Prevention of Money Laundering Act.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
He is accused of promising to take people as part of his troupe and then leaving them in Canada and the United States.
Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, Jaitley questioned the ethics of some businesses in the country and asked as to why the bank's internal and external auditors could not detect the fraud which had been going on for 7 long years.
The Mumbai police has formed a special investigation team to probe a fake COVID-19 vaccination camp racket that took place in several places in the metropolis, leading to the arrest of 10 persons, a senior official said.
Disgraced former chairman of Satyam Computer Services B Ramalinga Raju late Friday evening surrendered before Andhra Pradesh's Director General of Police S S P Yadav, according to a police spokesperson.
The Champai Soren-led coalition government in Jharkhand will seek trust vote on February 5, minister Alamgir Alam said on Friday after a Cabinet meeting.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
Sri Lanka Cricket, currently fighting the menace of deep-rooted corruption, was dealt a blow after its Chief Financial Officer was arrested for alleged financial fraud, police said on Monday.
Recorded versions or bhajans being recited by those present at the temples were played out at around 5 am to counter the morning azaan being recited on the loudspeakers.
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
Three Indians have pleaded guilty to criminal charges of conspiring to commit student visa and financial aid fraud through a for-profit school they ran and agreed to forfeit over USD eight million to federal authorities.
Former Pakistan Test batsman Ijaz Ahmed has been released on bail after spending nearly seven weeks in detention on fraud charges, his lawyer said on Tuesday. Kashif Javed told Reuters the Lahore high court had allowed Ijaz to be released on bail due to health problems. He had been denied bail three times by lower courts but spent most of the time while detained in hospital complaining of severe asthma.
The arrest of Nilesh Dasondi, noted community activist and Edison zoning board member, in an immigration scam involving his company, Cygate Software and Consulting, has shocked the community. Dasondi, 41, is charged with violations including visa fraud and conspiracy to commit visa fraud.They posed as software experts and were sponsored for H1-B visas by Cygate; in the event, they were running shops or doing other businesses, according to court papers.
A Chartered Accountant firm hired to help crack the Rs 460 crore (Rs 4.6 billion) fraud at a Citibank branch will submit its report soon, says Gurgaon police.
Senior Indian diplomat Devyani Khobragade was today indicted for visa fraud and making false statements but can leave the US as she has been accorded diplomatic immunity.
A US court has sentenced an Indian to 81 months in prison on conspiracy and aggravated identity theft charges arising from an international fraud scheme to "hack" into online brokerage accounts in America and use those accounts to manipulate stock prices.
The significant observation was made by a vacation bench comprising Justices Arijit Pasayat and D K Jain.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar were released from jail on Tuesday morning, a day after the Bombay high court granted them interim bail in a loan fraud case, a police official said. Chanda Kochhar walked out of the Byculla women's prison in Mumbai, while her husband was released from the Arthur Road jail, the official said. The CBI arrested Kochhars on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
The RBI expects the assessment to show if the systemic failure was only in PNB or in the overall banking universe
As he was no longer employed by the United Nations and Kohli had pleading guilty to selling him apartments at discounted price, she said that the bail could not be backed by them.
Donald J Trump's opponents and supporters gathered near the US district court in Washington, DC as the former American president, who is facing federal charges related to attempts to overturn his 2020 election defeat, appeared before the judge on Thursday, August 3, 2023.
The probe agency, while seeking Patkar's custody, also told the court that an offence of such magnitude was not possible without the "explicit complicity of senior functionaries" of the Brihanmumbai Municipal Corporation.
The CBI, which has already filed its chargesheet, is preparing to file a supplementary chargesheet. It has time till the end of this month for this.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, on Thursday suffered another setback in his legal battle against his extradition as the high court in London denied him permission to appeal against his extradition order in the UK Supreme Court. In a judgment order pronounced at the Royal Courts of Justice in London, Lord Justice Jeremy Stuart-Smith and Justice Robert Jay ruled that "the Appellant's (Nirav Modi) application for permission to appeal to the Supreme Court is refused".
The Kochhars were arrested by the Central Bureau of Investigation (CBI) last Friday. Dhoot was arrested on Monday. The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday.
A special Central Bureau of Investigation court here on Wednesday extended till December 29 the CBI custody of former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot in connection with a loan fraud case. The probe agency arrested Kochhars last Friday after questioning them briefly. Dhoot was arrested on Monday.
GST authorities have detected GST fraud of Rs 55,575 crore over the last two years and arrested over 700 persons for causing loss to the exchequer, an official said on Thursday. Over 22,300 fake GST identification numbers (GSTIN) were detected by the officers of the Directorate General of GST Intelligence (DGGI). The government on November 9, 2020, launched a nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently by issuing fake/bogus invoices, thereby evading Goods and Services Tax (GST).
The wife of alleged conman Kiran Patel, who was held in Jammu and Kashmir for posing as a top official in the Prime Minister's Office (PMO), was arrested on Tuesday for trying to usurp a senior citizen's bungalow in Ahmedabad, officials said.
The special court on Monday rejected Kingfisher's plea challenging ED's claim that Rs 430 crore (Rs 4.3 billion) was siphoned off and used to acquire properties abroad.
India has informed the United States that Devyani Khobragade was accredited to the United Nations as a member of the country's delegation to the general assembly before her arrest in a visa fraud case.
'The Supreme Court has now demonstrated its capacity to right its own wrongs, and to place the rule of law above all else.'
Diamond merchant Nirav Modi on Wednesday lost his appeal against extradition on mental health grounds as the high court in London ruled that his risk of suicide is not such that it would be either unjust or oppressive to extradite him to India to face charges of fraud and money laundering. Lord Justice Jeremy Stuart-Smith and Justice Robert Jay, who presided over the appeal hearing at the Royal Courts of Justice earlier this year, said in their verdict that District Judge Sam Goozee's Westminster Magistrates' Court order from last year in favour of extradition was "sound". The leave to appeal in the high court had been granted on two grounds - under Article 3 of the European Convention of Human Rights (ECHR) to hear arguments if it would "unjust or oppressive" to extradite 51-year-old Modi due to his mental state and Section 91 of the Extradition Act 2003, also related to mental health.
The Bombay high court on Monday granted bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case, saying their arrest was not in accordance with the provisions of law. A division bench of Justices Revati Mohite Dere and P K Chavan held that the arrest of Kochhars was in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending notice for appearance before the police officer concerned. The couple was arrested by the Central Bureau of Investigation (CBI) on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
By registering the fresh case, ED wants to strengthen its probe against the beleagured liquor baron and expedite a slew of actions it has initiated against him
SRSR Holding is owned by Ramalinga Raju's sibling, Suryanarayana, whose house was also searched by the police with regard to the Rs 7,800 crore (78 billion) accounting fraud in Satyam.
Republican presidential candidate Vivek Ramaswamy has vowed that he will pardon all peaceful January 6 protesters if he gets elected as the next United States president in 2024.
