"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
You will be part of fastest growing major global economy, India's ambassador to the US Harsh Vardhan Shringala told young American students.
During his stay in London, he was reportedly living in the heart of the city above his jewellery boutique called "Nirav Modi" on Old Bond Street, which was reportedly closed last week, The Sunday Times reported.
'What we are actually missing in India is a platform wherein the government engages with cybersecurity experts, gets them employed and then utilises their capability to deter such attacks.'
External Affairs Minister Sushma Swaraj met Foreign Minister of Antigua and Barbuda E P Chet Greene on the sidelines of the 73rd session of the United Nations General Assembly and raised the extradition issue of Choksi, who is currently in the Caribbean island.
Switzerland's Federal Office of Justice (FOJ) named the men as Alfredo Hawit of Honduras, acting president of the CONCACAF federation and a FIFA vice-president, and Juan Angel Napout of Paraguay, head of the South American football federation CONMEBOL. CONCACAF administers football in North and Central America and the Caribbean.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
To help readers make an informed decision, Rediff.com had organised a chat on November November 22, between 3 pm and 4 pm IST.
The German Football Association (DFB) has found no indication of wrongdoing in the process of winning the right to host 2006 World Cup, it said on Friday after an internal investigation was completed.
Kingfisher to be lager partner at ICC Champions Trophy to be played in UK.
The CBI, which has already filed its chargesheet, is preparing to file a supplementary chargesheet. It has time till the end of this month for this.
The Bangalore-based firm also announced changes in certain key positions in the controllership team, but did not reveal the amount of money involved in the fraud.
The criminal jury trail of Susan Su, founder of the Tri Valley University in California that harboured thousands of Indian students, entered a crucial phase on Wednesday with closing statements by both the plaintiff and defence lawyers.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
News of all that's transpired on and off the football field
Rejecting the BJP's charge that he had indulged in anti-party activities, Azad, who was suspended after his strident attacks against Jaitley, said he had done nothing against BJP or the Central government.
'Because there's a very effective Coast Guard,' says maritime piracy expert Jayant Abhyankar.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
NDA ally, the TDP continued to disrupt the both Houses of the Parliament over demand for special status to Andhra Pradesh.
Want a stress free vacation? Amar Pandit tells you what you need to keep in mind.
The bank also issued 234 LoUs worth Rs 1,880 crore to another group of companies promoted by Mehul Choksi in 2015 and 2016
Asked if the government would provide aid to the beleagured IT major Satyam, he said, "I think its a decision that is being taken internally." The government had, on Thursday, ruled out a swift bailout for Satyam.
Tech Mahindra's acquisition of Satyam Computer Services, according to an internal survey, has helped in restoring the confidence of the latter's clients, many of whom were thinking of terminating their ties with the fraud-hit IT firm.
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
Most of the investing risk comes from the amazingly wrong, stupid, egoistic assumptions that we make. Here are four of them...
ICAI starts proceedings against software firm's CFO and head of audit cell.
Satyam Computer Services on Friday received approval from market regulator Securities and Exchange Board of India to facilitate a global competitive bidding process enabling it to sell 51 per cent stake in the company to a strategic investor.
The report warns that it is possible for terrorists to fake documents such as passports and entry visas to cross international borders.
News of all that's transpired on and off the football field
PwC is the auditor of Satyam Computer Services whose founder Ramalinga raju earlier this month admitted to financial irregularities of about Rs 7,800 crore (Rs 78-billion). The newly-inducted board of the company later hired two foreign audit firms -- KPMG and Deloitte Touche Tohmatsu -- to restate the accounts books.
Satyam has initiated discussion with a host of banks and institutional investors to get funds to keep its business afloat and has pledged some of its receivables to secure funding, Parekh told reporters in Mumbai on Wednesday. Satyam's new board will meet on Thursday and the day after to discuss issues including appointments of top executives and ways to raise funds, Parekh said.
'Any normal human being, even if he is the American president, will find it hard, at least in the initial stages, to get over the gnawing feeling that Modi is Trump's man.' 'Modi should not be surprised if India and its requirements are treated as of low priority by Joe Biden,' warns B S Raghavan, the distinguished civil servant.
Participants can provide anonymous feedback on market manipulation.
Be extra careful while using credit cards because there is a risk of misuse
Disgraced retired cyclist Lance Armstrong has yet to hand back his Sydney 2000 Olympic medal to the International Olympic Committee (IOC) nine months after he was stripped of it, officials said on Monday.
