The police are also on the lookout for a fourth person, Arun Kumar, who they suspect allegedly instigated the trio to commit the crime.
The customs officials, based on an intelligence input, halted a Malta-flagged merchant ship -- CMA CGM Attila -- at the port en route to Karachi on January 23 and inspected the consignment, which included a Computer Numerical Control (CNC) machine, originally manufactured by an Italian company.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani group, are in the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
The Reserve Bank of India has rejected three applications, including that of West End Housing Finance, for setting up small finance banks. These applications were found not suitable for granting of in-principle approval to set up small finance banks, it said in a statement on Tuesday. RBI had received about a dozen applications to set up banks under the guidelines for 'on tap' Licensing of Universal Banks and Small Finance Banks (SFBs).
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
The CBI registered an FIR against NewsClick and its founder Prabir Purkayastha for alleged violation of the Foreign Contribution (Regulation) Act and carried out searches at the office and residence of the portal's founder on Wednesday, officials said.
More than 750 eminent citizens, including historian Romila Thapar, economist Jean Dreze and actor Naseeruddin Shah, on Wednesday came out in support of a news website which is alleged to have received dubious funds to spread Chinese propaganda.
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
With billionaire Gautam Adani launching a hostile takeover of NDTV, the Congress on Wednesday alleged that the bid by a company owned by Prime Minister Narendra Modi's 'khaas dost' (special friend) is a brazen move to control and stifle any semblance of an independent media.
The contracts for the procurement of the platforms and weapons systems were signed in the presence of Defence Minister Rajnath Singh and defence secretary Giridhar Aramane, under whose guidance these deals fructified, an official readout said.
Justice Swarana Kanta Sharma said the stay on the operation of the FIR as well as the trial court order will remain in force till December 6, the next date of hearing. The trial court had directed registration of an FIR against them on a complaint alleging that Hero MotoCorp manufactured fake bills worth Rs 5.9 crore and obtained tax credit of over Rs 55 lakh. The company, its chairman and officials approached the high court challenging the trial court's order.
In a boost to the Aatmanirbhar Bharat campaign, the Indian Navy on Sunday successfully test-fired the ship-launched version of the BrahMos supersonic missile in the Arabian Sea.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
The Delhi high court on Tuesday imposed Rs 2 lakh as costs on BharatPe co-founder Ashneer Grover in the matter related to his alleged defamatory social media posts against the fintech company. Justice Rekha Palli took on record the apology and the undertaking given by Grover but proceeded to impose costs on him, saying the "court cannot be taken for granted". The judge, while dealing with a plea by Resilient Innovations Pvt Ltd - which owns BharatPe - against its former MD, said the court was "appalled" to note the "persistent" and "blatant" violation of the earlier orders and assurances given by Grover in this regard.
Congress general secretary in-charge communications Jairam Ramesh said that in the 'Hum Adani ke Hain Kaun (HAHK)' series under which the Congress posed questions to Prime Minister Narendra Modi, the party had asked him about his "favourite business group's links with the Chinese citizen Chang Chung-Ling (aka Lingo Chang) who has been a director in several Adani Group companies along with Vinod Adani and also made an appearance in the Panama Papers".
As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II".
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
The properties include Goawala compound and a commercial unit in Mumbai's suburban Kurla (West) 147.79-acre agricultural land located in Osmanabad district of Maharashtra and three flats in Kurla (West).
The Resolution Professional (RP) of Future Retail Ltd (FRL) has filed an application before the NCLT against Kishore Biyani, his brother Rakesh Biyani and eight other entities alleging their involvement in a "fraudulent transaction" in the company. This application "has been filed pursuant to the findings in the report received from Nangia & Co. LLP, which was appointed as 'Transaction Review Auditor' by the RP," said a regulatory filing from Future Retail Ltd (FRL). The Transaction Review Auditor was to assist RP in his duties and the determination, wherein a transaction has been reported under Section 66 of the Code for adjudication by the NCLT.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
The Supreme Court on Monday dismissed a plea challenging the Bombay high court verdict that directed the Mumbai civic body to demolish the unauthorised construction at Union minister Narayan Rane's bungalow in the Juhu area, noting that there was a violation of the Floor Space Index and Coastal Regulation Zone rules.
Raghav Magunta was taken into custody under the Prevention of Money Laundering Act (PMLA) on Friday evening, they said.
An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
ECL Finance Company MD and three officials were on Tuesday quizzed for nearly eight hours by the Raigad police in Maharashtra probing the alleged suicide of film art director Nitin Desai, an official said.
Ashok Vaswani, a banker with more than three-and-half decades experience in building and scaling up businesses across consumer and corporate banking and payments, will be the next managing director (MD) and chief executive officer (CEO) of Kotak Mahindra Bank. Last week, the Reserve Bank of India (RBI) had given its approval to Vaswani's appointment. Vaswani is currently President of Pagaya Technologies, a US-Israeli artificial intelligence (AI) fintech firm, which he joined in June 2022.
The last two I-T teams left the premises, one each in Odisha and Jharkhand, carrying with them a number of seized "incriminating documents" and data cloned from electronic gadgets in the early morning hours.
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
The alleged scam pertains to the period when Lalu Prasad was the railway minister in the UPA-1 government at the Centre.
Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
Guneet Monga came to Mumbai at 21 and went on to carve a successful career as a film producer, winning an Oscar this year!
The financial creditor had approached district authorities in Raigad to take possession of ND Studio a few months ago.
The summons were sent to Singham recently on his personal email ID and also through the Chinese diplomatic channels after the ED routed them through the ministry of external affairs, the officials said.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances