An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
The trial in Satyam fraud case had concluded in second half of June before the special court, which examined 216 witnesses and marked 3,038 documents during the course of the hearing.
The BJP chief said the ED and the CBI have taken prompt action in the Nirav Modi case.
A bench of Justices Sanjiv Khanna and Sanjay Kumar termed the plea as "absolutely misconceived" and said how can it sit in appeal over an order passed by another bench of the apex court.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
'We will take tough calls where needed in the interest of doing what is right.'
The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
There will be a seven-day waiting period after the SIM swap or replacement for a mobile number to become eligible for porting, telecom regulator Trai said on Friday. The step has been taken to curb fraud taking place by using mobile phone numbers. "The Telecom Regulatory Authority of India (Trai), on 14th March 2024, issued the Telecommunication Mobile Number Portability (Ninth Amendment) Regulations, 2024, which will come into force on July 1, 2024," the regulator said.
Digital house arrest is a tactic where cybercriminals confine victims to their homes in order to scam them. The offenders generate fear by making audio or video calls, frequently posing as law enforcement officers using AI-generated voices or video technology.
The long term trends on violence in Kashmir are positive and India must secure these gains further, asserts Aakar Patel.
Jharkhand Governor C P Radhakrishnan on Thursday nominated Jharkhand Mukti Morcha legislative party leader Champai Soren as the chief minister and invited him to take the oath, capping a day of fast-paced developments.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
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.
With a view to protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing with large value frauds committed by bank officials.
Maharashtra and West Bengal lead the way in bank fraud.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
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.
Frozen mutual funds and shares worth Rs 86.72 crore belong to Choksi and his group, and the rest are owned by the Modi group.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
The current practice which involves dealing with the Institute of Chartered Accountants to deal with auditors, is long and so tedious, and in practice offers practically no remedy at all.
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.
Ranbaxy Laboratories said it has won a two-year-old case against UK Serious Fraud Office (SFO) in the English Crown Court, a morale boosting relief to the domestic drug major.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
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.
The countries offering visa-on-arrival service to Indian nationals have been exploited as 'Donkey Routes' by agents for people who endeavour to reach the United States and Canada.
Kataria has been involved in a big nexus of the human traffickers since last year and may have links with an international gang, the police said.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
The Supreme Court has dismissed a plea seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI.
The fraud was operated from call centres in India to defraud hundreds of elderly and vulnerable people in the US, CBI officials said.
The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
Amid a political crisis in Jharkhand, Jharkhand Mukti Morcha legislative party leader Champai Soren on Wednesday called on Governor C P Radhakrishnan and urged him to accept his claim to form the government at the earliest.
A pan-India 'fraud-to-phone' network has been busted by security agencies, which have also arrested eight people and seized nearly 300 new mobile phones bought with stolen funds, officials said on Tuesday. Moreover, 900 mobile phones, 1,000 bank accounts and hundreds of unified payment interface (UPI) and e-commerce IDs of this gang have been identified and are under investigation. Nearly 100 bank accounts, and debit and credit cards have been frozen by the security agencies so far, officials said.
Cloned journals have become more rampant in the post-pandemic world.
ICICI Lombard is utilising the latest technology and forensic methods to verify insurance claims.
The XXI additional chief metropolitan magistrate BVLN Chakravarti after dismissing the petitions of the accused seeking discharge from the case, personally inquired if the accused committed the crime.
Former FIFA president Sepp Blatter and ex-UEFA president Michel Platini have been charged with fraud over unlawfully arranging a payment of two million Swiss francs ($2.19 million).
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