He was sentenced to nine and five years on charges of conspiracy and two of securities fraud.
A large voter turnout of more than 80 per cent despite sporadic incidents of violence and allegations of vote fraud on Thursday marked the second phase of West Bengal assembly polls.
A former Playboy model has completed a takeover of debt-ridden top division club AFC Hermannstadt.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
If there is a morality tale here, it is that debt and death spare no king.
While most of these payment players continue to run Indian data through the global processes of data analytics and fraud detection, the industry seems divided over whether the regulator would allow this to continue.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose as well, annual data from Switzerland's central bank showed on Thursday.
Cristiano Ronaldo will avoid serving a 23-month prison sentence after agreeing a deal.
Indian diplomat Devyani Khobragade has asked a court in New York to dismiss the indictment against her and terminate any 'open' arrest warrants in the visa fraud case, arguing that she was 'cloaked' in diplomatic immunity and cannot face criminal prosecution in the United States
He appeared via videolink from the prison as his legal team offered a package of "stringent" bail measures, including bail security of 4 million pound, house arrest with a 24-hour electronic tag as well as a private security guard service and a strictly monitored access to gadgets and telephones.
Trinamool Congress leader Sukhendu Sekhar Roy on Thursday claimed that West Bengal Governor Jagdeep Dhankhar could also be involved in the fake vaccination camp scam.
Tokenisation is the process of replacing debit and credit card numbers with a set of characters or tokens.
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.
A UK Judge on Friday stated that the ruling in fugitive diamond dealer Nirav Modi extradition case will be made on February 25. The extradition trial of Nirav Modi has concluded today at Westminster Magistrates' court in London. District judge Samuel Goozee confirmed the timeline. Nirav Modi, who is wanted in India for allegedly defrauding Punjab National Bank (PNB) of an estimated $2 billion, was re-remanded on December 1 by a judge at Westminster Magistrate Court in London.
He also said that there was a need to assure investors that this was a one-off case.
The FBI officer met senior officers of Thane Police and exchanged information gathered by both the sides about the scam which was unearthed earlier this month.
Biden's Twitter statement came hours after incumbent President Donald Trump, a Republican, finally agreed that the presidential transition process should start, after weeks of wrangling.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
The 49-year-old jeweller, fighting extradition to India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, has made around six previous attempts at bail at the magistrates' court as well as at the high court level.
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 Trump campaign has alleged that a significant number of mail-in ballots arrived after the 8 pm deadline of closing of polls on November 3.
It's best to avoid deals that sound too good to be true.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
Both the Securities and Exchange Board of India and the Reserve Bank of India were trying to find if Puri was also involved in front-running and used his information on positions taken by Citi for placing bets, said an official with one of the regulators.
Consumer activist Jehangir B Gai explains a RBI circular that says the customer is not liable for unauthorised transactions that occur due to contributory fraud, negligence, or deficiency on the bank's part.
While the lender has Rs 17,000 crore of retail assets and land parcels in Juhu, Borivali, Worli, and Chembur in Mumbai, there may be a disconnect between the quality of DHFL's books and the value bidders ascribe to it.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiry date and security code. However, the security level of the app and the customer's mobile itself also needs to be taken into consideration, say experts. Nikhat Hetavkar explains the whole idea of tokenisation, how it is enabled, its impact on card transactions and related security guidelines.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
Attributing to people familiar with the plan, the Financial Times said that SEC and Federal Reserve officials were warned by Merrill Lynch about Lehman's balance sheet calculations as far back as March 2008.
The world is watching what's taking place here. We're going to count all the votes, Pompeo said.
The Jammu and Kashmir Police recently arrested five suspected "white-collar jihadis" who were behind a campaign to spread falsehood about the sovereignty of the country.
The candidate admitted this fraud to a friend during a phone call which was recorded, police said.
Television footage showed images of young men,jumping the gates of the stadium while others outside, including children, were tear-gassed by riot police
'The major worry for everyone using Internet-linked devices today is whether the latest download on his smartphone or laptop is a bait from a digital hacker who is out to secure access to his hard-earned money,' notes T A Ramalingam, chief technical officer, Bajaj Allianz General Insurance.
With a UK court ruling in favour of the extradition of fugitive diamond merchant Nirav Modi, wanted in India on charges of fraud and money laundering in Punjab National Bank (PNB) scam case, Mumbai's Arthur Road jail has kept a special cell ready to lodge him, an official said on Friday.
The Congress also alleged that Facebook was acting as an ally of the ruling BJP and pushing its agenda.
Prompt measures and legal actions taken by the Indian government and PNB helped in securing the extradition of diamantaire Nirav Modi by the UK on Friday, a senior official said. UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case. According to the government official, a scam of this magnitude had potential to create instability in the financial sector but the deft handling saved the entire public sector banking space from the crisis and litigation.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
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