Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Hussain, the agency said, has been 'arrested in connection with ongoing PMLA investigation into his role in money laundering and funding of anti-CAA protests and organising riots in north-east Delhi during February, 2020'.
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
The CBI said the RJD leader is likely to get involved in political activities and misuse the grant of bail ahead of upcoming Lok Sabha polls.
Violation of provisions of Sebi Act, Securities Contracts regulation, Prohibition of Fraudulent Trade (PFTUP) norms were not observed in respect of these 114 entities.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
The capital market regulator is looking into whether its Collective Investment Scheme regulations were violated while raising funds from the public, a senior official said.
Often, these gangs tie up with former sector employees to understand how the process works
The House of Commons petitions committee has confirmed that 77,000 signatures were added fraudulently and have been removed.
Fraudsters were luring gullible investors of daily returns up to Rs 75,000.
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.
Until now, the penalty was Rs 1 crore only.
In a crackdown on fraudulent immigration consultants, Canada's Citizenship and Immigration Minister Jason Kenney has announced the creation of a new regulatory body to oversee activities of immigration consultants."There are people who sometimes seek to unethically make a profit by exploiting the hopes and dreams of newcomers," said Kenney, who was aghast to see rows of billboards announcing guaranteed immigration to Canada in Chandigarh last year.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
His nomination was announced by the outgoing President, Anthony Wreford, at the MCC Annual General Meeting at Lord's in May this year.
Earlier, Twitter, Facebook and YouTube removed a video of Trump in which he repeated unfounded claims that the election was stolen from him.
Indian IT company joins Enron, WorldCom and Societe Generale on list of notorious corporate frauds.
The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.
Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
Compliance costs and legal scrutiny could rise.
Cloned journals have become more rampant in the post-pandemic world.
Reliance Group, recently, accused L&T Finance and Edelweiss Group entities of "illegal" and "motivated" actions in invoking the pledged shares of Anil Ambani group's three listed firms and selling them in open market causing a steep fall in share values.
Suit alleges fraud by hiding significant deficiencies in CGMP regulations enforced by US health regulator.
Shares of Reliance Infrastructure and Reliance Natural Resources Ltd on Tuesday tanked in the range of 4-8 per cent on the bourses after reports surfaced that these two ADA Group firms are involved in fraudulent banking activities overseas.
Indian IT services provider Hexaware Technologies' stock on Monday closed at a four-year low on the Bombay Stock Exchange (BSE) after the company announced that it was conducting an "internal investigation" into "certain actively-concealed and potentially-fraudulent foreign exchange transactions conducted by a Hexaware official."
In April 2015, the regulator issued a show cause notice to the bank for alleged violation of portfolio managers' norms with respect to one relationship manager.
The central bank's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or rupees of gullible investors were allegedly swindled.
Probe has been completed against 83.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
The judge said that Lalu Prasad could also undergo treatment at the Rajendra Institute of Medical Science in Ranchi.
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
Ranbaxy's US factory, Ohm Laboratories, is learnt to have got a clean chit from the American regulator. This US facility was under surveillance of the Food and Drug Administration (FDA) since the end of 2012.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
One indictment accuses Huawei of trying to steal trade secrets from T-Mobile, and of promising bonuses to employees who collected confidential information on competitors. A second indictment claims the company worked to skirt US sanctions on Iran.
The capital markets watchdog has asked the government to empower it to carry out search and seizure operations, to attach properties and to ask for information and records for all relevant entities.
Taking a swipe at DMK president's statement that the party would take steps to implement prohibition if voted to power in the next elections, AIADMK said it was done with an eye on polls.
Before inserting your card, always check for any signs of tampering on the ATM machine, warns Aditya Shankar.
