The ED has attached properties worth Rs 4,109 crore spread across various states in a money-laundering case linked to an alleged ponzi scheme, the agency said on Thursday. The case pertains to the Agri Gold Group of Companies. Three promoters of the group were arrested by the central agency on Tuesday.
Congress leader Rahul Gandhi appeared before the Enforcement Directorate (ED) on Wednesday for the third consecutive day of questioning in the National Herald money laundering case, with the agency seeking answers on decisions taken with regard to the media organisation and its owner Young Indian.
The facility, which will manufacture nicotine and nicotine salts, will conform to stringent US and EU pharmacopoeia standards that define purity levels at 99.2 per cent for nicotine meant for pharmaceutical products. ITC will leverage the institutional capabilities of its century-old leaf tobacco business for this. ITC's cigarettes business saw disruptions across the value chain with the onset of the Covid-19 pandemic. The company mentioned in its annual report that with easing of restrictions and improvement in mobility from September 2020 onwards, the business recovered progressively over the remainder of the year to reach nearly pre-Covid levels towards the close of the year.
In India, the drop was fuelled by the rupee's depreciation from around 71 to 75 a dollar during the quarter.
While there was a sharp drop in footfalls in malls in H1FY21, there was reasonable recovery in H2. However, the second wave derailed the recovery.
Consultants who help lease these properties say this is the steepest decline at least in a decade.
The court also said that the "frivolous contentions" by the petitioner objecting to the PM's photo and his "morale boosting message" on the vaccination certificate, was "not expected from a citizen of the country".
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
The report says, the emerging markets continue to have uneven performance but India recovers from decelerating growth. Narendra Modi government, it added, continues business-friendly growth reforms, the economy grows at 6 per cent and the market rises 20 per cent.
The Supreme Court on Friday stayed the Bombay high court order directing sale of bankrupt Housing Development and Infrastructure Ltd (HDIL) to ensure the repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay high court order.
The public sector lenders saw the biggest rebound in inquiries in July and August 2020, most likely because they were early in recommencing operations than their private and finance counterparts.
While you can land a very good bargain in an auction at times, you might need to deal with illegal occupants and dues on the property
More properties are expected to go under the hammer in the coming days.
Officials said a doctor and three paramedics were hurt, and an ambulance and a police vehicle damaged in the stone-pelting.
Shivakumar, arrested on September 3 by the ED in money laundering case, was produced before the court Tuesday on the expiry of his custodial interrogation.
'The 100-metre stretch from the opening of this tunnel is completely flooded with debris; the oxygen supply (through the pipes) too had gotten over and the chances of any survivors inside this tunnel are very bleak. Nobody has been able to talk to the people trapped inside'
The auction of Kingfisher House, which has a built-up area of over 17,000 sq ft and is located in the plush Vile Parle area, is scheduled to begin at 1100 hrs on August 4
Billionaire Anil Agarwal's mining group Vedanta on Monday said it has withdrawn cases in the Delhi high court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. Post slapping of a Rs 10,247 crore tax demand on UK's Cairn Energy Plc for alleged capital gains made on a 2016 internal reorganisation prior to the listing of its India business, the Income Tax Department had sought Rs 20,495 crore in taxes (including penalty) from Cairn India for failing to deduct tax on capital gains made by its British parent. Cairn India was in 2011 bought by Agarwal's group and subsequently, the firm was merged with Vedanta Ltd.
The global recovery is expected to be asynchronous and divergent between advanced and emerging market economies, the IMF said on Tuesday, noting that policymakers should take early action and tighten selected macroprudential policy tools while avoiding a broad tightening of financial conditions. "Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks," the International Monetary Fund (IMF) said in its Global Financial Stability report released ahead of the Spring meeting of the global lender and the World Bank. However, actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities, it said.
Prospective bidders had earlier termed the reserve price as too high, while multiple legal woes of Mallya-led UB Group are also being cited by many as reasons for lack of interest in buying this property
'In our business, every time a seat goes empty, it is a perishable good.' 'We have lost the opportunity of earning revenue out of it.' 'It's impossible to recover what we have lost.'
Natt, who had allegedly shot the inspector during the violence, was arrested on December 18 from Sikandrabad and is in jail.
Kingfisher House is one of the prime real estates of the airline.
A bench headed by Chief Justice N V Ramana ordered status quo in the present situation, and said the petition would be listed before an appropriate bench.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
Market regulator in talks with SBI Caps, UTI Infra for scrutiny and auction of properties.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK. While the banks argued a right to waive their security over the Indian assets involved in the case in order to recover their debt in the UK, lawyers for the 65-year-old businessman argued that the funds in question involved public money held by state-owned banks in India which precluded them from such a security waiver.
The previous board of Fortis Healthcare had links with Singh brothers and there was an investigation by law firm Luthra and Luthra into Rs 472 crore that was diverted into other companies.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
The officer said the aircraft was on a regular training sortie when the incident occurred.
Most of the migrants do not get access to any medical facilities in government-run hospitals or dispensaries as they do not have an Aadhaar card and are not Indian citizens.
For almost all the properties owned by Vijay Mallya, the reserve price has been marked down after the earlier attempts failed to attract bidders.
'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
From Covid to climate change, Shankar Acharya's look at some of the trends and events that might shape 2022.
Rooms at this Kolkata hotel are priced between Rs 7,000-8,000 per night. Gateway is a full-service upscale hospitality brand under the Taj Group of Hotels.
Saifullah, who had taken command of the outfit after the killing of Riyaz Naikoo in May this year, was one of the most wanted terrorists in the Kashmir Valley and involved in several attacks on the security forces, an official said.
Income tax collection, by way of advance tax and TDS, in the April-June quarter was about 80 per cent of what was collected in the same period last year.
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