Self-employed Ramgobin is alleged to have defrauded two local businessmen of more than 11 million South African Rand (Rs 5.38 crore) by claiming that she had secured a tender to import bedding from India for the private hospital group Netcare.
Ashish Aggarwal of San Francisco and two others have surrendered.
A former Rochdale Securities trader whose unauthorised purchase of about $1 billion of Apple Inc stock caused the demise of the company pleaded guilty to fraud and conspiracy.
He will be arraigned before US District Judge Jed Rakoff in the US District Court, Southern District of New York.
Three Indians have pleaded guilty to criminal charges of conspiring to commit student visa and financial aid fraud through a for-profit school they ran and agreed to forfeit over USD eight million to federal authorities.
From the landing of Chandrayaan 3 to the bombardment of Palestine by Israel, a look at some events that shaped the world in the second half of 2023.
More cases of international credit card fraud with links to India have come to light in Britain, even as authorities refused to rate the problem from Indian cities as very high.In a latest incident, a British journalist discovered that money was withdrawn from his bank account in Chennai this week, while nearly 500 others in Bournemouth suffered the same fate.
When important people are involved in insider trading, only quick and firm action against them sends a powerful message.
The net profit of the listed Adani group companies more than doubled year-on-year (Y-o-Y) in the first half of 2023-24 (H1FY24), even as their revenue declined in this period. The nine firms posted a 107.7 per cent jump in net profit at Rs 23,929 crore in April-September compared to the year-ago period. Net sales, on the other hand, were down 14 per cent to Rs 1.49 trillion in H1FY24, data collated by Business Standard showed.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
The former chief executive officer of American firm Computer Associates, Sanjay Kumar, has been charged with accounting fraud and obstruction of justice, the federal government has announced.
Raj Rajaratnam, the main accused in the largest hedge fund insider trading case in the United States history was on Wednesday found guilty on all 14 counts of securities fraud and conspiracy.
Will Judge Jed Rakoff be swayed by the former Goldman director's influential well-wishers or will he deliver stiffer punishment?
The Supreme Court is scheduled to pronounce on Thursday its order on a batch of PILs on the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations.
A local court in Vijayawada remanded Telugu Desam Party chief N Chandrababu Naidu in judicial custody for 14 days in an alleged multi-crore corruption scam on Sunday.
Defense strategy seems to relying on three basic arguments.
Once the Canadian investigation runs its course, Ottawa may put on the public domain further accusations passing for "evidence" -- and that could happen at some point closer to our general election. All in all, the big question is, what is it that the US is really up to, asks Ambassador M K Bhadrakumar.
Ramaswamy launched the volley of charges against the former South Carolina governor and US ambassador to the UN in Arizona during the Republican Party's fourth presidential debate, which was attended by just four candidates, the other two being former New Jersey Governor Chris Christie and Florida Governor Ron DeSantis.
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.
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
The ministry is of the opinion that there is a need for a rigorous regime for large unlisted companies, in contrast with the current "light-touch" regulation. "There is a defined regime for listed companies, by the Securities and Exchange Board of India (Sebi). "There is a view in the ministry that it needs to look at a framework for large unlisted companies," the senior official said.
The measures needed for implementing this new system would start rolling in few weeks, the minister added.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
According to the Notice of Appeal filed by his lawyer Gary Naftalis in US District Court Southern District of New York, Gupta's "appeal concerns conviction only."
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
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.
Gupta, 63, read from a prepared statement for six minutes before being sentenced.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
A US court has denied a bid by billionaire hedge fund founder Raj Rajaratnam, convicted in May this year on insider trading charges, to reverse the verdict handed by the jury in his case.
A "shocking" fraud involving 106 people, including former New York city cops and firefighters, who allegedly used the 9/11 terror attack disability benefits worth hundreds of millions of dollars to fund their lavish lifestyles, has been cracked by authorities in New York.
India Inc is staring at significantly higher compliance and governance costs, following the Securities and Exchange Board of India's (Sebi's) latest tightening of disclosure norms and regulations around the filling of key positions, the materiality of information, and third-party transfers. Recently, the securities market regulator amended the Listing Obligations and Disclosure Requirements (LODR) to introduce a raft of changes that will affect how listed companies go about transparency and disclosures. The new framework will further empower public shareholders and soon move towards a 'comply or be penalised regime or comply or explain' in the case of high-value debt-listed entities.
Was the decision taken by the Centre on August 5, 2019 to abrogate the provisions of Article 370 of the Constitution, which bestowed a special status on the erstwhile state of Jammu and Kashmir, constitutionally valid? The Supreme Court is scheduled to pronounce its verdict on Monday on a batch of petitions challenging the abrogation of the provisions of Article 370.
In the final part of the government rebuttal, US assistant attorney Jonathan Streeter contested claims made by defense attorney, John Dowd, that government witnesses told lies on the stand.
The CBI has booked five people for allegedly posing as Microsoft tech support and siphoning off USD 400,000 (Rs 3.37 crore as per current rates) retirement funds of a US citizen, officials said on Friday.
From a man used to rubbing shoulders with the most powerful businessmen in the world, Rajat Gupta is now staring at a lengthy prison sentence.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
