Currently, the enforcement officers are making seizures of assets directly and indirectly connected to offenders, including jewelers Nirav Modi and Mehul Choksi in the Punjab National Bank fraud and Vijay Mallya in the Rs 9,000-crore IDBI loan case.
Indian diplomat Devyani Khobragade has asked a court in New York to dismiss the indictment against her and terminate any 'open' arrest warrants in the visa fraud case, arguing that she was 'cloaked' in diplomatic immunity and cannot face criminal prosecution in the United States
Prompt measures and legal actions taken by the Indian government and PNB helped in securing the extradition of diamantaire Nirav Modi by the UK on Friday, a senior official said. UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case. According to the government official, a scam of this magnitude had potential to create instability in the financial sector but the deft handling saved the entire public sector banking space from the crisis and litigation.
Setting aside the ban on PwC, which is one of the Big Four global accounting firms, SAT said only the national auditors watchdog ICAI (Institute of Chartered Accountants of India) can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.
The United Kingdom's home department has cleared the extradition of fugitive diamantaire Nirav Modi, who is wanted in an over Rs 13,000-crore bank fraud case, officials said on Friday.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
Enforcement Directorate is jointly probing the case.
A special court in Mumbai on Monday remanded Shiv Sena leader Sanjay Raut to the custody of the Enforcement Directorate (ED) till August 4 in a money laundering case.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
The central government, in its typical sledgehammer style, has unleashed the might of its investigative agencies like the Enforcement Directorate against NCP and Shiv Sena leaders.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
The Supreme Court on Wednesday directed a full-fledged probe into the collusion of Tihar jail officials with Unitech's imprisoned ex-promoters Sanjay and Ajay Chandra, based on Delhi police commissioner Rakesh Asthana's report filed in a sealed cover.
A day after she was stopped from flying abroad, the Enforcement Directorate (ED) summoned actor Jacqueline Fernandez to appear before it for questioning in a money laundering investigation against alleged conman Sukesh Chandrashekhar and others, officials said on Monday.
The aim is to ensure that such crimes are checked and effective action is taken against the culprits.
The Enforcement Directorate (ED) has issued fresh summons to Shiv Sena MP Sanjay Raut asking him to appear on July 1 for questioning in a money laundering case linked to the re-development of a Mumbai 'chawl' and other related financial transactions involving his wife and friends, officials said.
The two diamond traders, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, promoting the agency to move the PMLA court for issuance of NBWs against them.
The ranking has improved marginally from the survey findings in 2015 when India was at the sixth position
'More than 114 cases have been registered for spreading fake messages, rumours and fake news on WhatsApp.' 'People on various groups are reporting such crimes.' 'The most heartening development is people are now not tolerating such things.'
Do not trust any incoming phone calls or mails that ask you to install any file or programme, warns Niranjan Upadhye, general manager-fraud risk management, Worldline India.
In an attempt to prevent a diplomatic dispute, Sheikh Ahmad said on Tuesday he was looking to avoid a vote by persuading one city to hold the 2030 Games while the other staged the following edition in 2034.
The 13th edition of the IPL is being held in the UAE in a bio-secure environment, which has significantly reduced the chance for persons with dubious credentials approaching the player directly.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
BSP president Mayawati on Monday said her party will not contest the zila panchayat chairpersons' elections so that it can focus on next year's assembly polls, drawing accusations from the Congress that she is pulling out to help the ruling BJP.
Justice Ramana said the body was required to be "created under a statute" clearly defining its powers, functions, and duties.
Jaitley also said that several states have framed laws to deal with ponzi scheme-related cases
Jet Airways founder Naresh Goyal and few others have been booked by the Enforcement Directorate in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday. They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act after taking cognisance of a recent Mumbai Police FIR filed against him.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
Customs sleuths will be posted in London, Hong Kong, Dubai and Brussels in an effort to check trade-based money-laundering among others.
Shailesh Shah, 48, of California pleaded guilty before US District Judge Richard Stearns to two counts of mail fraud and two counts of wire fraud.
The chargesheet was filed by the agency early this month before a special Prevention of Money Laundering Act court in New Delhi and the Enforcement Directorate named Chandrashekhar, his wife Leena Maria Paul and six others in it.
'Badle ki bhavna (revengeful politics) was never seen in Maharashtra and Indian politics, but now we are witnessing all that today.'
Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
The Singapore high court has put a freeze on deposits of $ 6.122 million following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the Punjab National Bank.
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
An extradition expert in the UK said the strict social distancing norms in place to try and curb the spread of COVID-19 may add a further dimension to the UK's Article 3 obligations under the European Convention on Human Rights, relating to inhuman and degrading treatment or punishment.
As the coronavirus pandemic made courts adopt the new normal and go virtual in 2020, the Union law ministry pitched in by providing the required infrastructure to ensure online hearings are held smoothly.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
Mallya said, the ED on the one side and the banks on the other are fighting over the same assets.
The ED has attached seven sugar mills worth over Rs 1,097 crore in a money laundering case against former Uttar Pradesh BSP MLC Mohammed Iqbal and his family, officials said.
Why is the Indian cricket team still using the Board of Control for Cricket in India (BCCI) logo which resembles 'Star of India' honour given by the British to their favourite princes in colonial times?
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