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."
The agency is carrying out searches at eight locations in Delhi, Noida, Lucknow and Mumbai in this regard.
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
Abroad, credit card companies like Visa and MasterCard help customers if there's a problem in the product or service purchased. But, in India, your only hope is the consumer courts
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
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.
Rajan said it is hard to offer an objective self-assessment but the RBI should probably have raised more flags about the quality of lending in the early days of banking exuberance.
Phishing means sending an e-mail that falsely claims to be from a particular enterprise (like your bank) and asking for sensitive financial information.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
A senior life insurance official point out there have also been cases involving former insurance agents.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
It appears that the BJP government has succeeded in managing the communication of the PNB scam in a manner that its adverse impact on its electoral fortunes is largely contained
The 49-year-old jeweller, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year, appeared via videolink for the remand hearing at Westminster Magistrates' Court in London.
The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
Batra Hospitality Private Ltd broke no ground rules while disposing off its shareholding in Centaur Hotel Mumbai to Sahara Group, Lok Sabha was informed on Wednesday.
PNB issued a formal appointment letter to Belgium-based consultancy firm BDO
Sebi ruled that Pendse has violated various provisions of the PFUTP Regulations and the Securities Contracts Regulation Act with his illegal transactions.
With the entire fraud amount becoming a non-performing asset, around 25 per cent of the bank's estimated net worth of Rs 40,000 crore could be affected.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
A total of 64,275 declarations were made under the scheme, an average of Rs 1 crore per disclosure. This is expected to translate into tax collection of about Rs 30,000 crore from the scheme, of which the government exchequer should get around Rs 15,000 crore by the end of 2016-17.
The complaint from the Manager Legal M Sivakumar claimed that the company makes payment for defective products received by a customer and also arranges a reverse pickup of the damaged product which is sent to the merchant.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Six compelling reasons to use your credit card. WARNING: reckless use of plastic can land you in a debt rap
If you receive an email claiming to be from the income tax department that there's an outstanding tax demand that you need to pay immediately, don't get alarmed. Get cautious.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
By April, operational guidelines for the scheme will be finalised and shared with states
The most difficult case for the consumer is when your card is cloned and used online.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
.jpg)
The Union Cabinet on Wednesday had approved the proposal to amend the Sebi Act and other relevant regulations that would give greater powers to the regulator in its efforts to tackle all kinds of money-collection schemes, as also to effectively crackdown on defaulters in the stock markets.
Even if the government didn't plan for demonetisation properly, it could have taken steps on a war footing later to ensure the situation improves.
The entire amount is to be provided for four quarters.
If your case is picked up for random scrutiny, any of the tricks that you or your financial advisor may have used to avoid tax will be easily detected.
The challenge before the management is ensuring simultaneous disclosure of key information to stock exchanges and investigating agencies.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
Prasad will face charges including criminal conspiracy and fraud in the fresh trial.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
