Several depositors were duped in the Rs 460.91-crore alleged fraud engineered by Shivraj Puri, a Global Wealth Manager of the bank working at its branch in Gurgaon.
The England and West Indies cricket boards suspended sponsorship negotiations with financier Allen Stanford following fraud allegations against the Texas billionaire on Tuesday. The US Securities and Exchange commission charged Stanford and three of his companies with alleged fraud involving a multi-billion dollar investment scheme.
Artificial Intelligence will create 2.3 million machine learning jobs by 2020.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Delhi brokers under SEBI's glare for drawing investors through ads promising unrealistic returns.
The trade-war between the US and China is prompting investors to flee from risky assets, such as equities, to safe-haven bets, such as gold and treasuries
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
Amjed Ullah Khan, who carried out investigations of his own and helped rescue 15 women from Hyderabad, tells Syed Firdaus Ashraf/Rediff.com how the women get trapped in an underground slave market that 'sells' them to employers who force them to work for less or no pay and often under inhuman conditions.
By scrimping and saving your whole life for retirement, you need to make sure those funds are kept safe for your future needs. Here are a few tips on how to protect your retirement funds
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
The judge fixed April 26 as the next date of hearing when he will appear via video link from jail.
The problem is with the broking model and what brokers are allowed to do, notes Debashis Basu.
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.
In the interview to Business Standard last week, Chary had stated that the government's proposal to merge was unwarranted and that FTIL shareholders did not benefit from higher dividends from NSEL.
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.
The size of the Indian financial services market could touch around $340 billion in the next few years.
One of the reasons why conviction rates in India are poor is that "adventurism and megalomania overtakes our investigators and professionalism takes a back seat," Jaitley said on Twitter.
Japanese auto major Suzuki Motor Corporation (SMC) on Wednesday said its long-serving chairman Osamu Suzuki will retire and assume the role of senior advisor subject to shareholders' approval in the ordinary general meeting to be held in June this year.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
The Delhi high court on Tuesday stayed the proceedings before the trial court in the CBI's INX Media corruption case involving Congress leader P Chidambaram and his son Karti.
Hansal Mehta's nine-hour drama series Scam 1992 needs to be viewed by everyone, young and old, recommends Moumita Bhattacharya.
Scandal-hit Satyam Computer Services is likely to abandon its proposed IT park project in Gandhinagar in view of the multi-crore fraud in the Hyderabad-based software firm, Gujarat government officials said on Friday.
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
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.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
Probe has been completed against 83.
At least 10 companies are currently being probed for possible violation of CIS regulations of Sebi, the official said, while adding that role of Sen and other top executives associated with these entities was also being investigated.
'Films like Arth don't happen again and again. They come once in a lifetime. I was lucky to make it, and I couldn't have done it without Smita and Shabana.'
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
Three reasons why this is the best time for financial planning.
The Dominica high court on Wednesday ordered that diamantaire Mehul Choksi be produced before a magistrate there to answer charges of his illegal entry into the Caribbean island country, local media reported. Dominica high court Judge Bernie Stephenson issued the orders after nearly three hours of hearing on a habeas corpus petition filed on behalf of Choksi who had claimed that he was abducted from neighbouring Antigua and Barbuda and forcefully brought to the Caribbean Island nation. She adjourned the habeas corpus matter till Thursday, Dominica News Online reported.
Reema Shah pleaded guilty to insider trading and cooperated with the US government for accepting insider info from a Yahoo! executive
The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
New risks have been identified, which include risk of non-compliance, business investment risk and legal regulatory risk.
"The downgrade of the bank's BCA and ratings reflects the negative impact of the discovery of a number of fraudulent transactions on the bank's standalone profile, particularly its capital position," the rating agency said in a report.
Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money' and they actively support India in its fight against tax fraud and evasion.
Barcelona agreed to pay a fine of 5.5 million euros ($6.21 million) to the Spanish authorities to settle a tax fraud case over the transfer of Brazil international Neymar in 2013.
India-born former Goldman Sachs director Rajat Gupta has asked a US appeals court to overturn a court's ruling that he pay a hefty $13.9 million fine in the insider trading case and sought reversing a life ban on him from serving as director of a public company.
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