Modi's defence team doubled the bail security to 2 million pounds and offered he would stay on 24-hour curfew at his London flat.
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
With 99 per cent of the ballots counted, Netanyahu-led right-wing bloc has taken a comfortable lead with 64 seats in the 120-member Knesset, paving way for his triumphant return.
Biden won the Republican stronghold of Georgia, a top state official said after a manual recount, becoming the first Democrat to have won the key battleground state since 1992.
Terming disclosures of financial wrong-doings at Satyam as an event of 'horrifying magnitude,' the Securities and Exchange Board of India on Wednesday said it would take all steps under the law for which it has started discussions with government and bourses.
Terming disclosures of financial wrong-doings at Satyam as an event of 'horrifying magnitude,' the Securities and Exchange Board of India on Wednesday said it would take all steps under the law for which it has started discussions with government and bourses.
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
Rupal Shah Palanki was officially sworn in as a judge of the superior court of Connecticut, United States recently.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
Markets regulator Sebi has empanelled as many as 16 entities -- including BDO India, Ernst & Young and Deloitte Touche Tohmatsu India -- for conducting forensic audits of financial statements of listed companies as part of efforts to curb frauds. The other empanelled entities are -- Chaturvedi & Co, Chokshi & Chokshi LLP, Grant Thornton Bharat LLP, Haribhakti & Co. LLP, KPMG Assurance And Consulting Services LLP, Mukund M Chitale & Co and Protiviti India Member Pvt Ltd, according to a public notice. In addition, Rajvanshi & Associates, Ravi Rajan & Co LLP, SKVM & Company, Suresh K Jha & Co, T R Chadha & Co LLP and V Singhi & Associates have been selected to conduct the forensic audits, it added.
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effect from January 1, 2022, banks will be required to incorporate a clause in the locker agreement prohibiting the hirer from keeping anything illegal or hazardous in lockers. The RBI said it has reviewed the 'Deposit Locker/Safe Custody Article Facility provided by the banks' after taking into consideration various developments in the area of banking and technology, nature of consumer grievances and also the feedback received from banks and Indian Banks' Association (IBA).
The CBI filed a charge sheet against its four officials in a bribe-for-relief case involving the investigation against Frost International for allegedly committed a bank fraud of over Rs 4,300 crore, officials said.
Trump said that Mar-a-Lago in Palm Beach was "occupied by a large group of FBI agents".
Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
Devas Multimedia has seized $87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a $1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday. Devas Multimedia America Inc had sought seizure of $145,000 but the actual recovery was $87,457.47 (a little less than Rs 70 lakh). This came after it secured a favourable order from the Eastern District Court of Virginia, Matthew D McGrill said.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
Finance Minister Nirmala Sitharaman on Monday reduced the time limit for reopening of income tax assessment cases to three years from six years, while for serious tax fraud cases where concealment of income is Rs 50 lakh or more it would be 10 years.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
How crooks try to trick the system and defraud credit card transactions and how you must protect yourself from such scams.
Mathew Martoma, a former SAC Capital portfolio manager, faces 20 years in prison for securities fraud and five years for conspiracy
Shah had pleaded guilty in 2012 to securities fraud in a parallel civil insider trading case case.
While the US government did not reveal the nationality of the arrested people, names released by authorities indicate that 10 of them are either Indians or of Indian-origin.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
"Several (Congress) meetings happened, but not even a single suggestion was taken," Azad said.
Many people posted screenshots of the alleged MobiKwik user data, which, according to sources, was up for sale for 1.5 bitcoin or about $86,000.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
IBM, HP and HCL, have evinced interest in Sebi's proposal to upgrade toolsused for detecting frauds.
He was sentenced to nine and five years on charges of conspiracy and two of securities fraud.
Hours earlier, a Spanish court issued a preliminary ruling in favor of the 75-year-old tycoon's extradition to the United States to face tax-related criminal charges.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
A former Playboy model has completed a takeover of debt-ridden top division club AFC Hermannstadt.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
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.
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.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
CJI Lalit concurred with the minority view of Justice S Ravindra Bhat who held the EWS quota as "unconstitutional" for excluding poor among SCs, STs and OBCs.
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.
