Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
Nalini Chidamabaram, wife of former Finance Minister P Chidambaram, has been examined by CBI in conection with the alleged multi-crore Saradha chit fund scam.
'Streaming will get to 100-200 million subscribers, but the journey is not as rose-tinted.'
ED had arrested group chairman Gautam Kundu on March 25.
It's high time that those who think stock investing is a game of luck, overcome their misconceptions and fear.
The Rafale will surely be flying in Indian skies next year. But the way the BJP government has botched this will cast a shadow on defence acquisitions in the years to come.
Dr Somaiya also said that Ali is facilitating few other major political leaders.
The Enforcement Directorate is probing foreign funding and transaction records of all the firms raided by the CBI in connection with the multi-crore 2G scam for possible money laundering and foreign exchange law violations.
Nine days after their arrest in a cross-country housing loan scam, a special CBI court on Friday granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further.
The current turnover of the group is nearly $68 billion.
Shah is likely to be released later on Friday evening or Saturday after completing the formalities.
Why lay investors you should not be scared of investing in the stock markets through the mutual fund route.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
Wanted diamond merchant Nirav Modi appeared via videolink from his London prison for a regular call-over hearing at Westminster Magistrates' Court on Friday, when he was further remanded in custody until February 25, when the judgment in his extradition case is to be handed down. District Judge Angus Hamilton informed Modi that he would most likely be appearing again via videolink on the day of the ruling, which will decide whether the 49-year-old jeweller has a case to answer before the Indian courts on fraud and money laundering in relation to the Punjab National Bank (PNB) scam case. Last month, District Judge Samuel Goozee had confirmed the timeline for the judgment at the end of closing submissions in the case, during which he heard that Modi is responsible for overseeing a "ponzi-like scheme" that caused enormous fraud to PNB.
A bench of justices Ajay Rastogi and Bela M Trivedi said it will hear the petitions of the BRS leader and others after three weeks.
'He is exposing the failings of the BJP, which is rankling the party.'
It was a multi-million rupee scam whose extent and reach are still being unravelled, so why did the chief of the scam-tainted Saradha group Sudipta Sen plead that he was unable to pay Rs 30,000 as bail fee? Where could all the money have gone? Indrani Roy finds out.
'His track record in the market has been spotless and untainted.' 'That is why he had such great fan following among investors.'
The rest, investigators claimed, were floated as "dummies" to act as cover for unleashing the alleged ponzi scheme.
The Supreme Court on Wednesday agreed to hear on March 24 a plea by K Kavitha, Bharat Rashtra Samithi leader and daughter of Telangana Chief Minister K Chandrasekhar Rao, seeking protection from arrest and challenging the summons by the Enforcement Directorate in a money laundering case arising out of the alleged Delhi excise policy scam.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
He also took potshots at opposition parties' decision to observing November 8 as a 'Black Day', saying the move displays their faith in cash economy.
How long can you look at Ajith sitting with a machine gun on his lap? asks A Ganesh Nadar.
The central probe agency has also issued a notice asking general public 'to furnish information and particulars of properties, both movable and immovable as well as bank accounts, in the state of West Bengal and other places, if any, related to Saradha group known to them, with specific details' to it.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
Rose Valley is one of the biggest money businesses after Sahara.
The alleged chit fund scam in West Bengal involving the Saradha Group revolves around a total sum of Rs 2,460 crore with 80 per cent of the depositors' monies still remaining unpaid, a latest investigation report has revealed.
Hindalco has already bagged 4 mines in Jharkhand and Chhattisgarh
The meeting is believed to be called to chalk out the strategy of the Opposition in Rajya Sabha on Monday.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
Ramesh, however, said it was too early to talk about all this right now as the Congress' first priority was the upcoming elections in Karnataka and the string of state polls this year.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
According to a background note prepared for the Economic Editors conference, the Telecom Ministry has made a provision of adding 1,200 million new telephone connections by 2017.
The CBI has said the mall belongs to Yadav who has made investment in the project through a company.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances