BJP spokesperson Sambit Patra claimed that the home ministry's decision to cancel the FCRA licences of the Rajiv Gandhi Foundation and the Rajiv Gandhi Charitable Trust for alleged violation of laws has "exposed" their corruption.
Special court judge M G Deshpande, who has granted bail to Shiv Sena MP Sanjay Raut, terming his arrest as "illegal, without reason and a witch-hunt", had pulled up the Enforcement Directorate (ED) on multiple occasions this year over its approach in dealing with money laundering cases.
Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Justice Bharati Dangre granted them bail as the Enforcement Directorate failed to file its charge sheet in the case within the stipulated 60-day period.
Sources close to the bank said non-executive and non-independent director Ajai kumar had been recommended for the interim CEO role.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
While the Congress party has said that the deal was transparent as payment of Rs 2 crore was received by Vadra from Kapoor through cheque and was reflected in income tax returns, the ED is probing if the painting was owned by her or the AICC.
The Delhi high court on Wednesday dismissed a bail plea by Avantha Group promoter Gautam Thapar in a Rs 500-crore money laundering case lodged by the Enforcement Directorate (ED). Justice Manoj Kumar Ohri denied the relief to Thapar, who was arrested under the Prevention of Money Laundering Act (PMLA) on August 3, 2021, after the agency carried out raids against him and his linked businesses in Delhi and Mumbai. The detailed order of the high court is awaited.
BJP spokesperson G V L Narasimhra Rao noted that Priyanka's husband Robert Vadra is accused of using "shady methods to make windfall profits from dubious real estate transactions" and said the report of her receiving Rs 2 crore from Kapoor for a painting which was not her own shows that the powerful couple have leveraged their political power to make "private gains".
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
Rana Kapoor gets interim relief from Bombay HC but directors' appointment subject to final order.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
The bank's board has already established a search and selection committee comprising three members from the existing nomination and remuneration committee along with two external experts to identify Kapoor's successor.
Madhu Kapur is fighting the case against the bank as it refused to accept her daughter as a nominee director.
Rana Kapoor, founder, managing director and chief executive officer of Yes Bank talks about his success mantras, lessons he has learnt in his career and gives tips to succeed to young entrepreneurs.
Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.
India Today's annual list ranks the top 100 colleges in the country.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
With a paid up capital of Rs 200 crore (Rs 2 billion), YES Bank is expected to start operations by January and is planning an initial public offering by April 2004 to shore up its capital base.
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
Bombay High Court upholds rejection of Shagun Gogia as board member, terms two director appointments invalid.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
The fight between Madhu Kapur, widow of bank's co-founder Ashok Kapur, and current Managing Director and CEO Rana Kapoor is not about money.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
The Budget should serve as a trigger to kick-start the investment cycle in the economy, says Rana Kapoor managing director and chief executive office of Yes Bank.
According to people familiar with the development, a meeting between the families was held on Saturday to discuss whether the case could be settled outside court.
CEO Rana Kapoor said no such discussion or proposition has ever transpired.
Writes to shareholders highlighting its performance, governance practices.
Rana Kapoor, Founder and Chief Executive Officer YES Bank, believes further opening up of India's banking sector to foreign players will be mutually beneficial.
The protests came after Speaker Om Birla announced the end of Question Hour at noon as the designated time for it is 11 am to noon. While asking the first supplementary, Gandhi said he wanted to know the list of 50 top wilful defaulters, including funds given and the amount written off by banks but did not get a proper answer in the written reply.
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'