The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
The coming together of the Quad and the Australia-UK-US grouping would be a formidable adversary, moving toward the creation of a 'thousand ship navy' that reins in the PLA navy in the Indo-Pacific.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
The EIB has supported long-term investment across India that has helped the country harness renewable energy, strengthened industry and reduced carbon emissions.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
The Shanghai Cooperation Organisation (SCO) will hold its first in-person summit in Samarkand in Uzbekistan on Thursday after two years, shaking off Covid fears and providing a rare opportunity for all its eight heads of state to meet on the sidelines of the event to have face-to-face talks on pressing global and regional issues of common concern.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
The discussions took place on the sidelines of the G20 Foreign Ministers' Meeting.
The leaked files relate to accounts holding more than $100 billion, as per ICIJ.
This after most of the Opposition including the Congress, Left parties, the Trinamool Congress, the Samajwadi Party and the Nationalist Congress Party decided to boycott House proceedings in protest against the suspension of eight MPs for the remainder of the session for unruly behaviour.
The new list has just 85 banks operating in India whose statements will be accepted for purposes of student visas.
The sources said the soldier was handed back to China at the Chushul-Moldo border point in eastern Ladakh at 10.10 am.
Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
The incident had taken place at a time when the Indian Foreign Minister, S Jaishankar, was in Moscow for the Shanghai Cooperation Organisation meeting, where he met his Chinese counterpart to address the border issues.
There was no visible forward movement in disengagement of troops in the remaining friction points as the Chinese side did not show flexibility in their approach on it at the 11th round of military talks.
RTGS is used to transfer large sums, the minimum amount being Rs 2 lakh. This mode is used primarily to facilitate trade and market transactions. The primary beneficiary would be the capital markets.
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Thakur, who also represented Shiv Sena in the Rajya Sabha, was 72.
The decision was taken at the BRICS Summit in Durban which also launched a Business Council to encourage investment and trade in member countries and to expand business cooperation.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
The agency detected the fixed deposits in State Bank of India, Axis Bank and Bank of India during the questioning of several close aides of Mondal and other witnesses during its ongoing probe in the case, they said.
'The Chinese are retaining geostrategic pressure on India by keeping troops there and building infrastructure continually.'
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
The total money of Indians fell by 45 per cent during 2016 to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
'Commerce Minister Piyush Goyal once told me that if onion prices rise we will face the flak for it across India.' 'What can farmers expect from a government which talks like a trader and only believes in (electoral) profit and loss?'
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Swiss banks seek fresh undertakings from Indians.
Business activity contracted in Q2 FY20, the first contraction since 2013-14 and the second since the 2008 global financial crisis, report, Abhishek Waghmare and Anup Roy.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
'Both sides should, therefore, focus on easing tensions in the friction areas by refraining from any actions that may lead to an escalation in the situation'
Tabled by Minister of State for Home Affairs Nityanand Rai, the legislation will reverse the effect of the Supreme Court verdict in May that gave the Delhi government power over administrative services.
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
He also said it was important that even during the difficult moments of this "crisis" India has been communicating and engaging with China.
The United States has so far allocated only 7.5 million doses of Covid vaccines to India, which is not enough, a top Indian-American Congressman said while urging the Biden Administration to do more.
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