'We will take tough calls where needed in the interest of doing what is right.'
Well-known US activist investor Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale. Hindenburg, a US-based investment research firm that specialises in activist short-selling, said its two-year investigation reveals that "the Rs 17.8 trillion ($218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades." The report comes ahead of a Rs 20,000 crore follow-on share sale of Adani Group's flagship Adani Enterprises.
A Bangladeshi court on Tuesday denied bail to prominent Hindu leader Chinmoy Krishna Das Brahmachari, arrested on alleged 'sedition' charges, and sent him to prison, amid protests by community members in the capital Dhaka and the port city of Chattogram.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
Trump, on addressing reporters after being arrested and released from jail, said: "I did nothing wrong."
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Ratings agency Moody's said on Tuesday that it has cut the outlook on the ratings of seven Adani entities to 'negative' from 'stable', citing the US indictment of chairman Gautam Adani and others on alleged bribery charges, while Fitch Ratings put some bonds of the conglomerate on negative watch. Moody's affirmed the ratings on all seven entities -- Adani Ports and Special Economic Zone Ltd, two limited restricted groups of Adani Green Energy Ltd, Adani Transmission Step-One Ltd, Adani Transportation Restricted group 1 (AESL RG1), Adani Electricity Mumbai Ltd and Adani International Container Terminal Pvt Ltd.
Cloned journals have become more rampant in the post-pandemic world.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
The FIR, filed on Thursday by M Goviappa Nagaraja, alleged that the 21-year-old reigning Commonwealth Games champion, along with his brother Chirag Sen, had fudged their age to get into playing age-group tournaments since 2010.
With a view to protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing with large value frauds committed by bank officials.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
'Our politicians solely depend on bureaucrats who are unaccountable and follow their own agenda.' 'Our politicians would dare not dream of establishing a DOGE,' argues Lieutenant General Prakash Katoch (retd).
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."
With this, India joins 60 other countries that collect PNR details of international passengers.
Stressing the need to make evidence-based policy formulation an integral part of governance, the prime minister said auditors must resort to technical tools to iron out any chances of fraud in organisations and give a new identity to new India.
Former FIFA president Sepp Blatter and ex-UEFA president Michel Platini have been charged with fraud over unlawfully arranging a payment of two million Swiss francs ($2.19 million).
Public sector banks accounted for a bulk of frauds reported in 2018-19 -- 55.4 per cent of the number of cases reported and 90.2 per cent of the amount involved -- mainly reflecting the lack of adequate internal processes, people and systems to tackle operational risks, the RBI report said.
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
As the number of students seeking higher education abroad continues to rise, several countries are implementing new rules. Gaurav Batra, CEO and founder of Infinite Group highlights how these changes will impact Indians who are planning to study abroad.
Kataria has been involved in a big nexus of the human traffickers since last year and may have links with an international gang, the police said.
The countries offering visa-on-arrival service to Indian nationals have been exploited as 'Donkey Routes' by agents for people who endeavour to reach the United States and Canada.
He also urged all the ministers, MLAs, and public representatives to respect party workers.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
57% of the respondents indicated that their organisations did not conduct independent fraud risk assessment
This was reflected in India Inc's lackadaisical attitude towards sensitising employees on fraud prevention.
Theft, bribery and corruption, and regulatory non-compliance are the top three frauds
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
He is accused of multi-year visa fraud, involving forged and fraudulent documents to get visas such as H1B for over 200 foreign workers.
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.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
About 40 per cent of respondents felt fraud had gone up in India, while 67 per cent said the new Act would improve governance.
However, the RBI declined to share details of action being taken on these fraud cases saying "it is not readily available".
