Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
The ED on Monday also examined the state-owned bank's executive director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
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.
Accusing the Union government of using the central agencies to target leaders like former finance minister P Chidambaram and others, Kamal Nath expressed hope that the court will take a right decision in the case.
The Reserve Bank of India (RBI) said directions have been issued in the wake of a rise in the number of cheque-related fraud cases.
If Mallya does not appear before the court, he risks being declared a fugitive economic offender, besides properties linked to him being confiscated.
A sacked United Nations official has accused President Hamid Karzai of organising second poll fraud as his main challenger on Monday pulled out of next weekend's runoff election amid fears of rigging, a news report has said.
Their bank accounts have been frozen. State governments have been told to restrict sales and transfers of real estate assets these companies own.
Veena Mani reports.
The review will help all the banks find if there is any loophole.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
While making online purchases, the cardholder will have to use this second verification apart from the card verification value number, which is the main saftey parameter used presently. As per the RBI guidelines, customers will have to register their cards from tomorrow onwards with the respective merchants--Visa or Master Card and create a security password.
The valuables include polished diamonds, pearls and silver jewellery and are worth Rs 1,350 crore.
Officials said the Enforcement Directorate along with the Central Bureau of Investigation launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai's Worli area which resulted in the recovery of fresh valuables.
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence.
This was decided in the business advisory committee meeting, where the leaders of various political parties agreed for a discussion on the fraud. The short duration discussion in the Lok Sabha was listed for February 13 but was deferred following a request from leader of the Opposition L K Advani.
He added that while he is not too worried about a constitutional crisis, he is worried about further diminishment of the basic reputation of the voting process in the US. There might be a "significant minority" of voters rejecting the election result on November 8.
Several depositors were duped in the Rs 460.91-crore alleged fraud engineered by Shivraj Puri, a Global Wealth Manager of the bank working at its branch in Gurgaon.
The government is seeking to replace the 52-year-old Companies Act 1956 with new legislation, a bill for which was introduced in the Rajya Sabha in October. The proposed legislation is primarily aimed at updating corporate laws and reducing state control over the affairs of companies.
A total of 254 millionaires from India have used the so-called "golden visa" to settle down in the UK through a large investment into the country since the route opened in 2008, according to a new report released by a UK-based anti-corruption charity on Monday. Spotlight on Corruption said that Indians ranked as the seventh nationality of super-rich to have availed of the Tier 1 (Investor) Visa, adding up to 254 between 2008 and 2020. China topped the list at 4,106, followed by Russia (2,526), Hong Kong (692), the United States (685), Pakistan (283) and Kazakhstan (278) ahead of India.
The company's Chief Executive Officer G S C Rao, Chief Financial Officer Sanjay Tapriya, Executive Director Gursimran Kaur Mann and five non-executive directors have also been booked by the agency. Gurpal Singh is the son-in-law of Punjab Chief Minister Amrinder Singh.
The next hearing on ED's application before the special court, seeking permission to start confiscation proceedings, is scheduled for April 8.
Posts on pro-Trump and far-right online networks have called for protest action on a number of dates, including armed demonstrations in cities across the country on January 17 and a march in Washington DC on inauguration day itself.
A Bill to change the PCA (1988) was introduced in the Rajya Sabha earlier this month.
The CAG audit and other data suggests it could be far from the efficient new alternative that was once conceptualised. A conclusive review remains elusive till the government begins to release more granular and comparable data on the complex backend of GST to a deeper scrutiny, by researchers, auditors and the public.
The PMLA court in Mumbai has sought their appearance on September 25 (Nirav Modi) and 26 (Mehul Choksi) respectively under the fugitive economic offender law.
A large number of public sector bank employees, as a matter of routine, do not "take" promotions so that they are not transferred out of their hometowns. The eastern region is famous for this, but it is a common practice everywhere, says Shyamal Majumdar.
Do not click on any pop-ups, links in messages or notification balloons if you are off the corporate VPN, warns Niranjankumar Laxman Upadhye.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Seeking to provide a quicker and value-maximising outcome for stressed MSMEs, the government has introduced a pre-packaged resolution process for such enterprises by amending the insolvency law. Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC). An ordinance was promulgated to amend the IBC on April 4. Many MSMEs have been impacted by the coronavirus pandemic and experts opined that the latest amendment, which comes less than two weeks after the suspension of certain IBC provisions ended, is a welcome move.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Home secretary Jacqui Smith said the new arrangements as part of Tier 4 of the points based system will make the visa process simpler, more objective and more transparent for applicants and prevent abuse of the immigration system. From Tuesday, all British education providers (schools, colleges, universities) who recruit international students need to be registered with the UK Border Agency.
In the interview to Business Standard last week, Chary had stated that the government's proposal to merge was unwarranted and that FTIL shareholders did not benefit from higher dividends from NSEL.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
In 2017 the Bangladesh supreme court on his watch annulled the 16th amendment to the constitution which empowered parliament to impeach SC judges for misconduct or incapacity. As it upheld the independence of the judiciary, it miffed Prime Minister Sheikh Hasina, who accused Justice Sinha of 'humiliating' the country. He was accused of corruption and misuse of power, allegations that he denied. Prakash Bhandari reports.
Off-site ATMs are set up on a standalone basis.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
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