The bill provides for severe punishment ranging from 1 year to 10 years and pecuniary fines ranging from Rs 2 lakh to Rs 50 crore to act as deterrent.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
The Babri mosque demolition trial is presently at the stage of the recording of statements of 32 accused in the case under Section 313 of Code of Criminal Procedure during which they also get an opportunity to refute the prosecution evidence against them.
Initiating one of its biggest criminal actions in a money laundering case, the Enforcement Directorate on Wednesday attached assets worth Rs 863 crore of YSR Congress leader Jaganmohan Reddy and his associates in connection with its probe into alleged corruption in an infrastructure project in Andhra Pradesh.
The Enforcement Directorate on Friday froze fixed deposits worth more than Rs 34 crore of a media firm owned by jailed YSR Congress leader Jaganmohan Reddy in connection with the money laundering probe against him and others.
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.
His appeal came when certain organisations of the neighbouring Barak Valley region of Assam observed a 12-hour bandh on Wednesday and have been staging an economic blockade on the National Highway-306 that connects Mizoram with the rest of the country since July 26, disrupting transportation of goods to the state.
The agency filed the prosecution complaint under the Prevention of Money Laundering Act before a special court in Mumbai and said Naik's "inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts."
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
'Suppose you are sitting abroad and taking legal recourse through power of attorney then what happens. If that is so then you will come to India if the court rules in your favour, we don't know what you have in mind'
Some of the defaulters have not paid up amounts as small as Rs 15,000, while the majority of individual penalties are worth a few lakhs of rupees and a few others amounting to a few crores of rupees.
The notices were issued on Tuesday after damage of nearly Rs 25 lakh was assessed across the district by the police and the administration.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
A special Prevention of Money Laundering Act court on Wednesday issued a non-bailable warrant against Pankaj Bhujbal.
The Enforcement Directorate on Wednesday night arrested the wife and son of the alleged kingpin of the multi-crore Saradha chit fund scam accused Sudipta Sen in a money laundering case.
In yet another setback for YSR Congress chief Jagan Mohan Reddy, the Enforcement Directorate has decided to take possession of his properties worth Rs 122 crore.
Kapoor told the ED that he was told by the then petroleum minister Murli Deora that the refusal to buy the MF Husain painting will not only prevent him from building a relationship with the Gandhi family but also prevent him from getting the Padma Bhushan award.
In the first week of January, the two Sahara companies-- Sahara India Real Estate Corp and Sahara Housing Investment Corp -- moved the Supreme Court saying the money deposited with Sebi -- Rs 5,120 crore (Rs 51.2 billion) -- was more than adequate to meet payments to investors and the matter was to come up for hearing next week, the counsel said.
The Centre has issued new guidelines to seize properties or assets of government officials involved in corrupt practices even after their retirement.
During the questioning, the bench noted that in cases of similar illegalities in buildings close to Ranauts, the BMC had waited for several days to carry out the demolition.
Indian politics, held captive in one way or the other by Ayodhya, may now well seek its emancipation from this issue, and the pursuit of welfare, asserts Congress leader Salman Khurshid in this excerpt from his latest book, Sunrise over Ayodhya.
The Supreme Court Wednesday sought a response from the Future group on Amazon's plea against the January 5 order of the Delhi high court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance. A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli issued notices to the Future group firms, Future Coupons Private Ltd (FCPL) and Future Retail Ltd (FRL) and said that it will hear the matter on February 23 "without any adjournment". The Delhi high court on January 5 had stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.
The Supreme Court on Tuesday refused to stay the investigation against Mumbai Congress chief Kripashankar Singh and his family members for allegedly amassing disproportionate assets but put an interim stay on the process of attaching and seizure of their properties.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The authorities have received the opinion of structural engineers, and would start removing exotic fittings, valuable fixtures, window grills and other utensils, as per their advice. They also found cushions, glass frames, a plush swimming pool and a spa, furniture made from Burma teak.
The judges said the group can sell 13 out of the 15 properties mentioned in one of the lists to deposit the amount.
Saddled with huge arrears from the PSUs and the private sector, the Employees Provident Fund Organisation on Tuesday launched an action plan, including the attachment of property and freezing of bank accounts.
The fact finding panel headed by retired District Judge Srikanth D Babaladi, had retired IAS officer Madan Gopal, retired IFS officer R Raju among others which include retired bureaucrats, journalists, advocates, professors and social workers.
Out of these, no balance has been found in case of 289 accounts
The SC bench directed the court-appointed forensic auditors to complete their detailed investigation on divergence of home buyers money by Amrapali group before March 22 and list the matter for hearing on March 24.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
The Supreme Court on Friday extended till June 16 its order staying the trial in a disproportionate assets case against Tamil Nadu Chief Minister J Jayalalithaa by a Bangalore court.
The officer said the aircraft was on a regular training sortie when the incident occurred.
The Uttar Pradesh Police had said on Saturday that it would invoke the stringent National Security Act and Gangster Act against those accused in the killing of the 46-year-old man.
SC refuses to extend the deadline for Sahara to deposit Rs 600 crore
State Congress president D K Shivakumar even tore papers on his table, in protest against the introduction of the bill, which his party called 'draconian and anti-constitution'.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
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