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.
The Street is never short of hope and events to look forward to
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
When buying into a cyclical business, it might make sense to spread investments across several companies.
In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
NBFCs which have not met Sebi criteria will face tough action.
Completing its over a-year-long probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations.
'If she contests it, then these people will have to fight it in court.'
'No commercial bank will be allowed to fail. There is nothing to worry about.'
Once a stock market darling, the jewellery chain heads for liquidation.
The government on Thursday gave more powers to market regulator Securities and Exchange Board of India to crackdown on ponzi schemes, access phone call records to check insider trading and carry out search and seizure operations.
The whistle-blower's letter to Sebi said future disclosures on any wrongdoing could potentially not be exposed if Infosys is let off the hook now.
Insider trading -- dealing in securities with prior access to unpublished price-sensitive information -- has been attracting regulatory attention worldwide.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
The rupee had lost more than 8 per cent since the first week of May, after the US Fed indicated it may start scaling back its monetary stimulus programme later this year.
When it comes wildlife, stock market investors can immediately identify with bulls and bears. But there are other animals in the stock market jungle too.
New risks have been identified, which include risk of non-compliance, business investment risk and legal regulatory risk.
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
A left-leaning centralised socialist model has created a shortage/entitlement economy. In fact one of the reasons for India's limited progress is that post-independent India is at odds with its true nature. It is something that educated right of centre Hindus are trying to correct, says Sanjeev Nayyar.
A special task force of the SFIO recently submitted an interim report to the Corporate Affairs Ministry in this regard.
A small percentage of asset allocation to bitcoin seems like a reasonable gamble, as it could be a major gainer in an uncertain global environment, says Devangshu Datta.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
As a multi-agency probe continues in Saradha scam, findings of one official investigation suggests that the group floated at least 279 companies to channelise money collected from gullible investors as part of a vast 'ponzi' network.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
MCX and MCX-SX are facing the worst crisis in their existence following the Rs 5,574 cr fiasco at the National Spot Exchange.
Reddy, who appeared at the Central Crime Branch office in Bengaluru on Saturday, was arrested after the questioning ended on Sunday morning
The Rs 5,600-crore (Rs 56 billion) NSEL scam could have been averted had its top management and other functionaries "performed their duties and exercised due diligence" to check the dubious activities of defaulting firms which have been alleged to have cheated numerous investors, investigation by Enforcement Directorate (ED) has revealed.
'I have tutored my family and myself to fight hunger,' the former agent for the disgraced Saradha chit fund says, his eyes welling up. 96 of the 107 cases referred to the Serious Fraud Investigation Office are based in Bengal!
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
The prime minister also praised the Dawoodi Bohras, a sect within Shia Islam known for their trading and business acumen, for their efforts in making the Swachh Bharat Abhiyan a success.
Here's a pick of what Warrenn Buffett had to say over the weekend, and his annual 'Woodstock for Capitalists'.
Vipul Ambani, a runner who participated in city marathons, never wore his last name on his sleeve, was easy-going, mild-mannered and always smiling. Yet, the question that begs to be asked is why would he join a luxury jewellery company, says Pavan Lall.
Suitors came with all-cash offers but were rebuffed
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
To ensure faster recovery of dues for entities hit by the Rs 5,600-crore (Rs 56-billion) fraud at NSEL, the government last month ordered the merger of the bourse with its parent firm Financial Technologies (India) Ltd.
Even Delhi does not have a full-time registrar of chits.
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
'You need to devalue the currency, ignite inflation, which then begins to oil the wheels of the economy.' 'Without that this severe recession is not going to reverse.'
