The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
'Clients deemed higher-risk are required to update their KYC more frequently.'
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.
The Telecommunications Bill, 2023, which was passed by a voice vote after a short debate, also allows the Centre to take possession of a telecom network in case of any public emergency or in the interest of public safety.
Colorado election officials have said the matter needs to be settled by January 5, which is the statutory deadline to set the list of candidates for the GOP primary scheduled for March 5.
He said the Aadhaar programme violated informational privacy, self-determination and data protection.
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 onus is on you to reject financial products that don't suit your needs.
K C Chakrabarty, former deputy governor, RBI, talks to Anup Roy on issues in the new bankruptcy law and rules.
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 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.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
Admitting the Central Bureau of Investigation appeal, the high court said there are "some contradictions" in the trial court's judgment which require "deeper examination".
Inoperative accounts are those accounts where contributions are not made for more than 36 months. The Employees Provident Fund Organisation has stopped crediting interest in these inoperative accounts.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
Policy owners need to avoid errors on their part to prevent claims from being denied.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
All these were done on the basis of forged papers.
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.
Housing finance company (HFC) PNB Housing is planning to focus on reducing delinquencies in 2023-24.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
The Uttar Pradesh State Minority Commission on Sunday described the mass conversion of Muslims in Agra as 'an act of fraud and a dubious exercise which has no connection with the serious business of change of faith'.
During the trip, check your bank account and credit card statements regularly for unauthorised transactions.
The Jharkhand unit of the Bharatiya Janata Party on Monday claimed that Chief Minister Hemant Soren has been 'absconding' since the last 18 hours, fearing action of the Enforcement Directorate.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay high court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The high court, however, refused to grant an urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation. A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.
The Supreme Court on Monday quashed the Gujarat government's decision to grant remission to 11 convicts in the case of gangrape of Bilkis Bano and murder of seven of her family members during the 2002 riots in the state, saying the orders were "stereotyped" and passed without application of mind.
The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of some Hong Kong-based companies of fugitive diamond merchant Nirav Modi as part of a money laundering probe. Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), the federal probe agency said in a statement. The amount kept in banks amounts to $30.98 million and Hong Kong dollars 5.75 million, which is equivalent to Rs 253.62 crore (as on July 22, 2022), it said.
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
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
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.
In August, the ED had raided the residential premises of former Ranbaxy CEO Malvinder Mohan Singh and his brother Shivinder Singh in connection with a money laundering case.
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 government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
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 probe, being conducted under various sections of the Prevention of Money Laundering Act, is against the Kallal Group and the UK-based Lyca group and its Indian companies Lyca Productions and Lyca Hotels, it said.
The attachment is linked to a money laundering probe linked to a Rs 1,034 crore worth land 'scam' related to the re-development of a 'chawl' in Mumbai.
Email providers can stop spoof emails impersonating them from reaching their customer's inbox or junk/bulk folder by enabling DMARC, says Venkata Satish Guttula.
