A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
Breaking his silence after a long time, to state the "factual position in response to the controversy unfortunately surrounding" him, Mallya said he had written letters to both the prime minister and the finance minister on April 15, 2016, to explain his side of the story. "No response was received from either of them," he said in a statement.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
The 82-year-old former Jammu and Kashmir chief minister received the ED summons a day after the formation of the People's Alliance led by him was announced on October 15.
The proposed law seeks bars on storing and processing of personal data by entities without the explicit consent of an individual. It, however, provides for exemptions for "reasonable purposes" such as "prevention and detection of any unlawful activity including fraud, whistle-blowing, merger and acquisitions, network and information security, credit scoring, recovery of debt, processing of publicly available personal data and the operation of search engines".
The court directed Raju, the prime accused in Satyam scam, and others to furnish personal bond of Rs 20,000 each and sureties of the like amount on or before December 22 and posted the matter to the same date.
'If the RBI liability is extinguished and they no longer remain legal tender, then those Rs 500 and Rs 1,000 notes are worthless paper.' 'Then why should it be a criminal offence to keep that paper?'
Using Microsoft's Cognitive Services, the selfie is compared to the one corresponding with the account on file. If the two photos do not match, the account is temporarily blocked while Uber looks into the matter.
If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.
But Raju has not discarded his first love, real estate.
Besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have also been named as accused
Holger Erik Misch, a resident of Berlin, had on November 3 entered into an altercation with railway employee Aman Kumar and had also allegedly attacked two policemen with a stick.
The probe is expected to take about three months.
The enforcement agency had received queries from the Interpol to this effect in May last week.
A more informed electorate, rather than the Lokpal, can fight corruption better, argues Neeta Kolhatkar.
The need of the hour, as the Supreme Court readies to rule on the constitutionality of Aadhaar, is for the UIDAI to fix the bugs, says Geetanjali Krishna, in the second and final part of her series.
The 79-year-old activist also demanded an inquiry by a sitting judge of the Jharkhand high court.
The case pertains to alleged financial irregularities in supply of high-altitude tents worth Rs 22 crore to intelligence agency Research and Analysis Wing during 2009-13.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
The firm has blamed a section of unnamed competitors as well as maleficent parties
Under Section 83 of the CrPC, ED may seek attachment of more of his property.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
More than 20 days after it was submitted by the United Nations, the United States continues to review the visa application of Indian diplomat Devyani Khobragade, which would give her full diplomatic immunity.
The APG released its much-awaited 228-page 'Mutual Evaluation Report' on Saturday, 10 days ahead of the key Financial Action Task Force's plenary meeting which will give its decision on Pakistan's 'grey list' status.
To send a notice under money laundering law.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
The proposals have been made after extensive consultations with top officials from Sebi, finance ministry, RBI, IRDA and large market intermediaries
It said the ransomware called 'WannaCry' or 'WannaCrypt' encrypts the computer's hard disk drive and then spreads laterally between computers on the same LAN.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
Opposition on Tuesday claimed that Prime Minister Narendra Modi has signalled to Finance Minister Arun Jaitley to quit in the wake of DDCA row.
It will provide an effective method to prevent identity fraud, the MHA said.
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
S Jaishankar, the new Indian Ambassador to the US, will arrive in Washington on Tuesday to take charge amid a raging diplomatic row over the arrest and strip-search of senior diplomat Devyani Khobragade on visa fraud charges.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
Modi, 46, who had figured in the Forbes' list of richest Indians, has been named in the cheating case on a complaint from the PNB, which alleged that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".
The Enforcement Directorate on Sunday conducted searches in various Uttar Pradesh cities after it registered a money laundering case to probe the alleged Rs 3,700 ponzi scam case perpetrated by seeking fake social media 'likes' from lakhs of gullible investors by a Noida based firm.
Sebi has also been asked to put in place a mechanism to monitor the beneficial owner of P-notes
