The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
'This government has made it compulsory to teach some languages that have died.' 'You can't keep languages alive by making them compulsory.'
Diversion of funds towards the surging equity weighed on the precious metal's price
It is time the government woke up to the risks that uncontrolled foreign monies flowing to Indian NGOs pose to India's economic progress, social cohesion and national integrity.
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
"A state agency is already on the job...let the report come first," he said adding that the state government will order FIRs to be lodged against officials concerned if a case of defalcation or diversion of funds is prima facie made out.
All proceeds from the e-auction will be donated towards funding the Namami Gange Mission.
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money-laundering charges in Mumbai in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said.
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these "nefarious transactions" by way of money laundering.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
Grounded Kingfisher Airlines has written to UCO Bank wanting to know the basis of attaching the 'wilful defaulter' tag on the carrier.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
Before committing your precious money in PE funds, investors need to get very choosy, advises Ramesh Bukka, co-founder and director, Entrust Family Office Investment Advisors.
Nagpur-based Slum Soccer is transforming the lives of slum children with the help of football, writes Geetanjali Krishna.
Reserve Bank of India's supervision as "weak and inefficient", the Joint Parliamentary Committee, which probed the stock scam on Thursday said timely action.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
In a written reply, Minister of State for Personnel Jitendra Singh said three cases in West Bengal and one case in Odisha have been registered by CBI.
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
Pictures of thousands of Kolam tiles were on Saturday woven into a video to welcome Biden and Harris in the spirit of 'Presidency for All' and to showcase the multi-cultural heritage of America.
'By the time actual action began, it was already too late.' 'The virus was raging.'
Laxmi Sorte and Kaustav Ghosh are on a 101-day road trip across India to support and encourage local businesses affected by the pandemic.
Silver, however, remained weak and fell by Rs 130 to Rs 39,600 per kg due to slackened demand from industrial units.
Investors may increase exposure to mid and small-cap stocks as their risk-reward profile is more attractive currently, suggest Nitin Singh and Vinay Joseph.
"The entrepreneurs/promoters of companies where banks have identified siphoning/diversion of funds, misrepresentation, falsification of accounts and fraudulent transactions should be debarred from institutional finance from the scheduled commercial banks, development financial institutions, government-owned NBFCs, investment institutions, for floating new ventures," an RBI circular said.
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
He said the aim has been to create firewalls to deal with the cyber attacks and that the issue is being addressed in a "serious way".
The mispronunciation outraged a large number of Harris' supporters and her spokesperson Sabrina Singh said, "I'll keep it simple: If you can pronounce 'former' Senator David Perdue, you can pronounce 'future' Vice President Kamala Harris."
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
Where does one find a man who shows no bitterness or animosity towards Hindus, even after a frenzied Hindu mob burnt his house down?, Jyoti Punwani asks in this tribute to a truly extraordinary Indian.
The campaign said that, "the committee is comprised of diverse American communities of supporters, including those from Asian-American, South-Asian American, and Pacific Islander background, who will help raise funds to elect Senator Barack Obama as president and to strengthen and expand the Democratic Party."
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
NHAI to pull plug on Rs 3,000-crore ventures for poor show
Savarkar believed Swarajya is more than the mere geographical independence of a stretch of earth called India. There was no point in fighting and sacrificing one's life for a Swarajya (mere territorial independence) at the cost of our Svatva (self-existence) or Hindutva itself! A revealing excerpt from Uday Mahurkar and Chirayu Pandit's Veer Savarkar: The Man Who Could Have Prevented Partition.
The second charge sheet may highlight some more financial transaction made by Raju and some of his associates.
Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
Soon after Biden concluded his speech, Harris and her husband Douglas Emhoff joined him and his wife Jill Biden.
