Two former employees of a Delhi-based pharmaceutical firm have been booked for allegedly cheating, forging documents and impersonating to secure government tenders, including supplies to Army hospitals.
Authorities in Gurugram have uncovered a racket involved in the manufacturing and sale of fake Mounjaro (tirzepatide) injections, used for treating diabetes and obesity. Two people have been arrested, and a nationwide alert has been issued to trace counterfeit batches.
An Indian-origin couple in the UK has been sentenced for breaching a disqualification order, operating companies despite a ban imposed after tax fraud claims.
Aditya Puri is one of the cleanest examples we have, in Indian corporate history, of a leader who understood early that the measure of his work was not what happened while he was in the chair. It was what would keep happening when he was no longer there, says Suresh M K.
The Bengaluru police have launched a probe into a cyber fraud case where hackers allegedly infiltrated the official email communication between city-based Group Pharmaceuticals and Dr Reddy's Laboratories, Hyderabad, successfully diverting a payment of Rs 2.16 crore to a fraudulent account.
The fraud is alleged to have caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC).
"There was an income tax raid at the firm premises sometime back... later, the company did pay up the required tax. But it came to light that certain bogus bills were debited in the account, which inflated expenses. The company had taken advantage of this while filing its income tax," a senior official of the serious frauds investigation office, who didn't wish to be identified, said.
Dabba Cartel's reluctant black comedy in the body of a crime thriller starts out interestingly enough to accomplish its Narcos: Thane aspirations, notes Sukanya Verma.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
Amritsar-born entrepreneur John Nath Kapoor was arrested by the FBI for bribing doctors to over-prescribe a powerful opioid to patients.
Raghuveer Nayak, an Indian-American multi-millionaire, was sentenced to two years in prison and fined $500,000 in a decade-long medical scam by a federal judge in Chicago on Monday.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
Centre mulls strategy to ensure powers given to the agencies are not misused.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
The Enforcement Directorate has alleged that this is a bigger bank scam in volume than that of the Punjab National Bank fraud by fugitive diamantaires Nirav Modi and Mehul Choksi, as it involves fraud to the tune of about Rs 16,000 crore.
Ashoka University co-founders Vineet Gupta and Pranav Gupta, who were booked last week by the Central Bureau of Investigation in a Rs 1,600 crore fraud case, on Thursday stepped down from all boards and committees of the varsity.
Tamil film Thani Oruvan is perfectly executed, says S Saraswathi.
Last year, Ranbaxy had to pay a fine of $500 million to the US authorities after it pleaded guilty to fraudulent activities and misrepresenting data to seek fast approvals.
Babulal 'Bob' Bera, US Congressman Ami Bera's 83-year-old father, faces five years in prison.
Novartis disputes the claims and will defend itself, spokeswoman Julie Masow said in an email.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
Fraud is a big concern among many board members.
NRI owned pharma firm Goldshield shelled out 1 million pounds as it was accused of being a part of the cartel fro price fixing.
Experts said it is the first time that an Indian pharmaceutical company has been charged with such serious offences, and that the firm may be prosecuted if the allegations are proved. Able Labs of the US, now a unit of Sun Pharma through an acquisition in 2005, had to face similar charges in 2004-2005.
Suit alleges fraud by hiding significant deficiencies in CGMP regulations enforced by US health regulator.
The Gurgaon-headquartered drug maker, set to be acquired by another leading domestic company, Sun Pharmaceutical Industries, reported a consolidated net loss of Rs 186 crore for the quarter ended June.
Illustrious international thinkers met at the Milken Institute Global Conference 2021 and many discussions addressed the impact of the COVID-19 pandemic on the world at large.
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
But Raju has not discarded his first love, real estate.
Prosecutors unveiled charges against Valvani alleging he fraudulently made $25 million by getting advance information about US Food and Drug Administration approvals of generic drug applications
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.
Legal experts and official sources said the alleged submission of fake documents can also lead to criminal charges against Novartis.
The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23, the next date of hearing.
'If she contests it, then these people will have to fight it in court.'
Mathew Martoma, a former SAC Capital portfolio manager, faces 20 years in prison for securities fraud and five years for conspiracy
Slapped with Rs 242-crore fine by US authorities for rule violations at Toansa unit, say sources; 2nd such hefty rap in the recent past from US regulators for bending rules.
He was sentenced to nine and five years on charges of conspiracy and two of securities fraud.
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