'Probably revised guidelines will come, and then the real picture will emerge.'
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 senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Billionaire Gautam Adani-led group's power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore - making it the largest transaction in India's energy space.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
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%.
The challenge before the management is ensuring simultaneous disclosure of key information to stock exchanges and investigating agencies.
'I don't think Waheeda had the confidence that I could pull it off, so she said no.'
Consider a combination of a base policy and a super top-up policy.
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.
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.
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
China does not have to give up what it took in 2020, it will never give up its claim to Arunachal Pradesh, Ladakh and other areas, and it has all the time now to plan its next surprise, points out Lieutenant General Prakash Katoch (retd).
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
High net worth investors (HNIs) caught in the Rs 405-crore fraud at Citibank's DLF Phase-II branch in Gurgaon, have recovered their money, with the bank refunding the principal amount, pending investigations.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
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.'
Theft, bribery and corruption, and regulatory non-compliance are the top three frauds
Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies. In a disclosure, IHC said it has "entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd". It, however, did not name the buyer.
Goldman Sachs is seeking to avoid a fraud charge as part of its settlement with the United States market regulator SEC, which had charged the investment banking major with defrauding investors by misrepresenting facts, a media report said.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
Citibank is working on a compensation package for customers duped by its relationship manager Shivraj Puri.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
'Clients deemed higher-risk are required to update their KYC more frequently.'
JPMorgan Chase was "at the very centre" of Madoff Ponzi scheme
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
When there are two wills produced before the court, which one will be executed?
Shashank Rai, 30, allegedly sought millions of dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act from two different banks by claiming to have 250 employees earning wages when, in fact, no employee worked for his alleged business.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
"The modus operandi was simple: Divert the money to the stock markets. It seems it was a structured product, which most people don't understand, as it could be a pure equity or blended product."
New York prosecutors are poised to file civil fraud charges against Ernst & Young.
Frauds can have immediate impact on the banks' financials and can also cause a systemic risk in extreme cases
Advisors and agents known to you personally can also sell wrong policies.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
