'The PM teaches children how to take exams for 1.5 hours, but fails to tell the country on who is responsible for PNB scam'
District Judge Marie Mallon said there were substantial grounds to believe that Nirav Modi would fail to surrender if granted bail.
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.
Chief Magistrate Emma Arbuthnot at Westminster Magistrates' Court in London concluded that she remains unconvinced that he would not interfere with witnesses or fail to surrender before the court for his trial in May 2020.
Taking to Twitter, Gandhi wrote, "Problem: 39 Indians dead; Govt on the mat, caught lying. Solution: Invent story on Congress & Data Theft. Result: Media networks bite bait; 39 Indians vanish from radar. Problem solved."
While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
Interest rate and tenure are not the only two factors to consider.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Tata Motors was the biggest gainer in the Sensex pack, rallying 2.94 per cent. It was followed by Vedanta, Bajaj Finance, Sun Pharma, ONGC, ICICI Bank, Bajaj Auto, Tata Steel, RIL, HDFC duo, L&T and SBI, rising up to 2.78 per cent.
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.
Friday's hearing is expected to be presided over by Chief Magistrate Emma Arbuthnot, the same judge who had ordered the extradition of former Kingfisher Airlines boss Vijay Mallya last December.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there were "substantial grounds" to believe that Modi would fail to surrender as he does possess the means to "abscond".
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
Following several instances of poor drafting of Cabinet notes and bills in the recent past, on September 11, the Cabinet Secretariat wrote to all ministries and departments to read up paragraph 55 of the 'Handbook of Writing Cabinet Notes'. Archis Mohan reports.
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
Besides the passports, Modi also possesses multiple residency cards, some of them expired, but covering countries/regions such as the UAE, Singapore and Hong Kong.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Confiscation of the tycoon's properties will start from February 5.
The Swiss Central Bank has estimated the total liabilities of Swiss banks toward Indian account holders at about $2.5 billion in 2010 as against the $1.5 trillion figure projected by some political parties and non-governmental organisations.
A senior CBI official said Adani group is alleged to have 'over-invoiced' its loans to the tune of Rs 2,300 crore (Rs 23 billion) between 2011 and 2013.
If more commodities which have seen a sharp rise in MSP are to be procured, such as pulses, oilseed and cereals, there could be a storage problem. Also, if state-owned Cotton Corporation of India joins in, this problem will aggravate.
The US Department of Justice declined to comment on Modi.
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
'India has a conviction rate of about 25% for serious crimes. This means that 75% of the time the police probably get the wrong suspect, and this makes murdering them in an encounter more morally problematic for the officers concerned.' says Aakar Patel.
PNB issued a formal appointment letter to Belgium-based consultancy firm BDO
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
'The fact remains that as of today, the justice that I deserve is far off, as it shall take time to prove my innocence, and the future seems uncertain presently,' Mehul Choksi tells his employees in a letter.
PM started 'Make in India' but every product in market is Make in China: Rahul
In its RCN issued against a fugitive, the Interpol asks its 192 member countries to arrest or detain the person if spotted in their countries after which extradition or deportation proceedings can begin.
Lenders are likely to convert part of the airline's debt into 11.4 crore shares at a consideration of Re 1 apiece as per RBI norms.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
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.
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