Official is accused of taking a bribe of Rs 2 cr to issue order in an appeal favouring Balaji Trust
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
26 chartered accountants associated with such shell companies have also been identified
Beg, borrow, steal or adopt, fake parents share a history of coming to the hero or heroine's rescue ensuing in much mirth and masala.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Unless Dr Urjit Patel starts clearing the balance sheets of banks, the investment cycle will not start. Unless the clog in the drain is cleared, further lending cannot happen. If further lending doesn't happen, the investment cycle also will not happen, writes M R Venkatesh.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
The 48-year-old, who has been lodged at Wandsworth prison in south-west London, appeared via videolink from prison before district judge David Robinson. "I am told that your case is proceeding in accordance with the directions for a final hearing on 11 May," the judge told Modi, as he set the next 28-day remand hearing via videolink for February 27. Modi's extradition trial is scheduled for five days starting May 11, with the case management hearings in the case set to begin once all the evidence has been handed in to the court for the trial.
CJI Lalit concurred with the minority view of Justice S Ravindra Bhat who held the EWS quota as "unconstitutional" for excluding poor among SCs, STs and OBCs.
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The Reserve Bank on Monday warned lenders against outsourcing their credit processing activities to third-party entities.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
He is set to be produced from custody before Judge Emma Arbuthnot for the first management hearing in the case, during which a broad timeline is expected for his extradition trial.
Vipul Ambani, a runner who participated in city marathons, never wore his last name on his sleeve, was easy-going, mild-mannered and always smiling. Yet, the question that begs to be asked is why would he join a luxury jewellery company, says Pavan Lall.
"He is expected to be produced before the court for a second bail application hearing on March 29," a court official in London confirmed on Tuesday.
They said creditors would be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian businessman Vijay Mallya and finished fourth last year, were safe.
The charges against the diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by the Punjab National Bank, known as 'letters of undertaking'.
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
Delivering the verdict, Westminster Magistrates' Court Chief Magistrate Judge Emma Arbuthnot said that there was "no sign of a false case being mounted against him".
Adani, which had earlier bid only for the wholesale book, now want all of DHFL's assets and has pipped both Oaktree and Piramal by bidding higher than each of them.
It has also said that orders were issued by the courts after hearing the counsels of ED and Mallya, officials said.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
Only 40 per cent of the forensic information required was made available by PNB and as such, there is no way that one can put a cap on the total value of LoUs issued. He is the second Indian to be declared a fugitive economic offender, after liquor baron Vijay Mallya.
The Indian businessman, who has a 42.5 percent stake, said there was a possibility of main sponsor BWT getting more involved and changing the team's name.
In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there were "substantial grounds" to believe that Modi would fail to surrender as he does possess the means to "abscond".
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
The US Department of Justice declined to comment on Modi.
Modi appeared for his regular 28-day "call-over" appearance from London's Wandsworth prison at Westminster magistrates' court, where judge Gareth Branston reconfirmed that his extradition trial will begin on May 11 next year and will last five days.
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
The Indian-American community in the New York-New Jersey-Connecticut tristate area is being targeted by telephone fraudsters.
Friday's hearing is expected to be presided over by Chief Magistrate Emma Arbuthnot, the same judge who had ordered the extradition of former Kingfisher Airlines boss Vijay Mallya last December.
Besides the passports, Modi also possesses multiple residency cards, some of them expired, but covering countries/regions such as the UAE, Singapore and Hong Kong.
Bankers said fear of loan losses impairing their careers could make officers wary of sanctioning new loan proposals on their own.
He is believed to have been living in the UK on an Investor Visa, applied for in 2015
Westminster magistrates' court judge Nina Tempia confirmed that Modi's extradition trial is scheduled between May 11 and 15 next year and that he must re-appear via videolink every 28 days for "call-over hearings" until the case management for the trial kicks in from February next year.
Switzerland's Ambassador to India Linus von Castelmur also said the past cannot be undone, while promising full support of his country in cases where at least some proof is provided on tax frauds.
The Government of Dominica has told a court there to reject the habeas corpus petition filed on behalf of businessman Mehul Choksi who had claimed that he was abducted and forcefully brought to the Caribbean island nation, local media reported. The high court of Dominica ordered that the businessman be produced in a magistrate court to answer charges of his illegal entry into the country and adjourned the hearing on the habeas corpus petition till Thursday, according to local media. Rejecting the submission of Choksi who is wanted in India in an alleged Rs 13,500 crore loan fraud case in Punjab National Bank, the prosecution said the habeas corpus petition does not stand as he had illegally entered the country and was subsequently detained.
The diamond merchant, who has been behind bars at HMP Wandsworth in south-west London ever since his first bail application was rejected on March 20, can apply for a high court bail appeal at any time until his next remand hearing on April 26.
His legal team, led by solicitor Anand Doobay, have previously offered one million pounds as security alongside an offer to meet stringent electronic tag restrictions on their client's movements, "akin to house arrest".
