Many states are realising that hosting mega events puts the spotlight on them and raises their profile.
The total default is said to be in excess of Rs 3,000 crore - making this the largest default by a broker.
The Supreme Court on Wednesday dismissed a plea seeking probe into the alleged misuse of funds allocated for purchase of computers for judicial officers of courts in Delhi.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
The Mumbai police have registered a case of cheating against Bharatiya Janata Party leader Kirit Somaiya and his son Neil for alleged misappropriation of over Rs 57 crore funds collected to save aircraft carrier INS Vikrant.
Union minister Nitin Gadkari has said the Maharashtra government's Ladki Bahin scheme, introduced to provide financial assistance to women, could affect the timely payment of subsidies in other sectors.
BSP legislator says his own party gives election tickets to highest bidder, warns that money politics more dangerous than bahubali politics.
Given the possibilities that next year's assembly elections could throw up, Stalin told the state assembly that an interim report had to be submitted by January 2026. The outcomes may well find its way into the DMK's poll manifesto, thus seeking to keep the electoral focus still on the BJP-ruled Centre and Prime Minister Modi, observes N Sathiya Moorthy.
On the 94th anniversary of the revolutionary giant's martyrdom, Utkarsh Mishra revisits the events of February 27, 1931.
The possible instances of front running at Quant Mutual Fund have likely pushed the Securities and Exchange Board of India (Sebi) to expedite the implementation of an institutional mechanism framework designed to curb such market abuses. This framework, approved by the Sebi board in April, was slated to take effect six months after its notification. But, recent developments have set the wheels of regulation turning faster.
An MP-MLA court has issued an arrest warrant against Louise Khurshid, wife of former external affairs minister Salman Khurshid in a case involving alleged misuse of government funds.
Asked whether this was being done to "shield" the chief minister who is facing a probe in the Mysuru Urban Development Authority site allotment case, Patil said: "On CM there is a court order for Lakayukta probe, so there is no such question."
Journalist Rana Ayyub rejected allegations on Friday that she "misused" donor funds raised in the wake of the Covid-19 pandemic, saying money-laundering charges levelled against her are "preposterous and wholly mala fide".
The sanction of Rs 8 lakh from Maharashtra Chief Minister's Relief Fund for a dance troupe's visit to Thailand has sparked a row with the opposition questioning the BJP-led government's "priorities" at a time when the state is reeling under severe drought.
Union Minister Kiren Rijiju on Saturday said funds meant for Central projects would be under BJP's scanner to ensure judicious utilisation in Arunachal Pradesh.
The Securities and Exchange Board of India (Sebi) has intervened in the matter concerning alleged irregularities by Trafiksol ITS Technologies, which had come out with a Rs 45 crore initial public offering (IPO) last month. In an ex-parte order, the market regulator has said it will undertake a detailed examination into the disclosures made by the small and medium enterprise (SME) company in its draft offer document. BSE had halted the listing of Trafiksol, a software provider for traffic systems, amid complaints around use of the issue proceeds and wrongful disclosures.
The Delhi Lokayukta on Wednesday indicted Chief Minister Sheila Dikshit for allegedly misusing government funds for carrying out an advertisement campaign with a "political purpose" ahead of assembly elections in 2008.
Cases of front-running mostly happen when large asset managers and intermediaries are involved in bulk trades as their transaction size is generally big enough to impact the stock price.
According to police, a first information report (FIR) was registered under Sections 384 (punishment for extortion) and 120B (criminal conspiracy) read with 34 (acts done by several persons in furtherance of common intention) against Union minister Nirmala Sitharaman, Enforcement Directorate officials, office-bearers of the Bharatiya Janata Party at state and national level, based on the order of a special court.
Do not underestimate the ingenuity of the Deep State in America to have its way. Keeping the guard down will be a catastrophic mistake on the part of the Delhi establishment. We could get hit when least expected. That's what happened in Bangladesh and Syria, warns Ambassador M K Bhadrakumar.
Modi accused the JMM, Congress and RJD of using Bangladeshi infiltrators for "vote bank politics," facilitating their settlement in Jharkhand, which is a threat to the state's social structure.
The Securities and Exchange Board of India (Sebi) has proposed sweeping changes to the rights issue framework to enhance its attractiveness, aiming to make it the preferred route for additional fundraising by listed companies. Among the changes proposed by the market regulator are reducing the timeline to first 20 days and then to just three days, allowing shareholders to renounce their rights entitlement to investors of their choice, and eliminating the requirement to appoint an investment banker or file a draft letter of offer.
The Securities and Exchange Board of India is conducting inspection of stockbrokers, who act as depository participants (DPs) and are also into margin-funding business, as there have been instances of client-account mismanagement.
The EOW conducted searches at the house of PC Singh, the bishop of the Church of North India Jabalpur Diocese, on Thursday morning following registration of a case of cheating against him.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Ayyub is the account holder and deposits totalling Rs 1,77,27,704 have been attached by the ED.
The Sagara town police in Shivamogga district registered the case on Wednesday based on a complaint by Praveen K V, who alleged that @INCIndia, the official Twitter handle of the Congress, tried to create distrust among masses with its tweet by spreading 'baseless charges.'
A US state department report has warned that the financial assistance to Pakistan would be suspended if the funds were misused or misdirected.
Pronouncing 'tankhah' (religious punishment) for Sukhbir Singh Badal and other leaders for the 'mistakes' committed by the Shiromani Akali Dal government in Punjab from 2007 to 2017, the Sikh clergy at the Akal Takht on Monday directed the senior Akali leader to perform as a 'sewadar', and wash dishes and clean shoes at the Golden Temple in Amritsar.
The Biden administration's failure in stopping two major wars and several minor ones was seen as a major disaster by many Americans and the world at large, observes Ambassador T P Sreenivasan.
The agency also alleged that Deshmukh exercised undue influence to pass favourable transfers and postings of the police officials.
The Securities and Exchange Board of India (Sebi) is considering segregation of settlement for proprietary trades and retail trades to avoid misuse and circumvention by certain brokers, its chairperson Madhabi Puri Buch said recently. Proprietary trading refers to trades done by brokers and other financial institutions using their own capital. "There are some people who are permitting access to their clients through prop accounts for a variety of reasons, including wanting to fund their margins.
'We waded through the wet mud into the school, and what we saw were dead bodies strewn all over.' 'We could also see parts of human bodies buried under the wet mud.' 'It was a sight I will never forget in my life. Total devastation everywhere.'
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
Digital house arrest is a tactic where cybercriminals confine victims to their homes in order to scam them. The offenders generate fear by making audio or video calls, frequently posing as law enforcement officers using AI-generated voices or video technology.
He asserted that it was time to "throw such forces out" to protect "mati, beti, roti" (land, daughter, bread).
