Praful Patel, said that he has absolutely no interest in holding any position in the national football body
To combat terror financing, India and the US committed to work together to check illicit money transfers.
The Income Tax department on Friday conducted separate 'survey operations' at the premises of online news portals Newsclick and Newslaundry in New Delhi, officials said.
Reliance Group chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator Sebi order restraining him from associating with any listed company. "Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order," Reliance Power said in a BSE filing. In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order".
The Securities Appellate Tribunal has quashed a Sebi order that had barred Yashovardhan Birla and others from the securities market for two years for alleged mis-utilisation of IPO proceeds.
Noted banker Deepak Parekh on Thursday pitched for simpler corporate governance norms that focus more on trust than just compliance, saying economics and ethics are not trade-offs but complementary. Behind each financial crisis there is a governance failure but it is the entire system that gets impacted, because an eruption of a corporate or financial crisis almost always means a tightening of rules and regulations and increased compliance for all, he said. The HDFC chairman, who was addressing a seminar on corporate governance organised by former Sebi chairman M Damodaran's advocacy Excellence Enablers in Mumbai, stressed that the ultimate objective should be that corporate governance systems must become simpler and not more complicated.
The court directed Raju, the prime accused in Satyam scam, and others to furnish personal bond of Rs 20,000 each and sureties of the like amount on or before December 22 and posted the matter to the same date.
Union Home Minister Amit Shah on Tuesday alleged that 'Bhatija (nephew) and company' had swindled central funds sent for Amphan relief and said that probe will be ordered into it and culprits will be booked after the Bharatiya Janata Party comes to power in West Bengal.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
The ED summoned Varsha Raut for questioning in the PMC Bank money laundering case on December 29, officials had said on Sunday.
Natrajan Venkataram, 42, who was director of Management Information Systems at New York City's Office of the Chief Medical Examiner, pleaded guilty to conspiracy, theft and money-laundering charges. He will be sentenced by a Manhattan Judge on January 30, and faces over 20 years in prison. The indictment charged that Venkataram and girlfriend Rosa Abrieu, 41, who was director of records at the OCME, conspired to send millions to fictitious overseas companies.
The Supreme Court on Wednesday dismissed the plea for interim bail of former Fortis Healthcare promoter Shivinder Mohan Singh who along with others is accused of misappropriating Rs 2,397 crore of Religare Finvest Ltd (RFL) funds. Singh had sought interim bail for a short period on "humanitarian grounds" for helping his ailing mother to take part in the last rituals of his maternal uncle, who died on March 8 in Haryana. "We are of the opinion that the presence of the accused was not a must...," said a bench of Justices M R Shah and B V Nagarathna while dismissing the plea.
The Supreme Court on Monday agreed to hear a PIL seeking a Central Bureau of Investigation probe into the alleged siphoning off of funds given to an NGO Hind Swaraj Trust run by anti-corruption crusader Anna Hazare and issued notices to the Centre and Maharashtra government. A bench of Justices Aftab Alam and Ranjana Desai sought the governments' response on a petition filed by lawyer Manohar Lal Sharma, accusing Hazare of siphoning off of funds granted by the government.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
"The entrepreneurs/promoters of companies where banks have identified siphoning/diversion of funds, misrepresentation, falsification of accounts and fraudulent transactions should be debarred from institutional finance from the scheduled commercial banks, development financial institutions, government-owned NBFCs, investment institutions, for floating new ventures," an RBI circular said.
The investigating officer of the Delhi police, in the remand application, had sought custodial interrogation of the accused saying it was required to identify the persons to whom the alleged siphoned off money was transferred and to ascertain the purpose of creating the shell companies.
An Indian-origin former high-ranking officer has been sentenced to 15 years in prison by a court here for siphoning off government money to the tune of $9 million, most of which was intended to help identify victims of 9/11 terror attacks, and stashing it away in India.
The ED wants to question Varsha Raut with regard to "receipt" of some funds that were allegedly siphoned from the bank, official sources claimed.
The Delhi high court on Thursday extended till December 17 the interim protection from arrest granted to Newsclick editor-in-chief Prabir Purkayastha in a foreign funding case and asked the Delhi police why it needed his custodial interrogation when the RBI has given a prima facie finding in his favour.
The diamantaire's counsel said there is a vigilance manual circular that the consortium can lodge only one FIR. Each consortium member cannot lodge separate FIRs, he said.
The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case related to the alleged misappropriation of funds at Religare Finvest. A team of ED officials went to Tihar Jail and placed Singh under arrest as per the provisions of the Prevention of Money Laundering Act.
'We will take tough calls where needed in the interest of doing what is right.'
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
Earlier last month, for the first time ever, an anonymous hacker was served with a restraining order as a non-fungible token (NFT), reports Shivani Shinde.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
The department had launched searches against the 48-year-old actor and the Lucknow-based group of industries involved in infrastructure on September 15 and the CBDT said the action was continuing.
Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
The court posted the matter for hearing on October 22.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
About 40 per cent of the money lost by banks in the PNB scam and the fraud linked to fugitive businessman Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate said on Wednesday.
Strange souls see a research report on an Indian conglomerate as part of a vast conspiracy to Keep India Down. There is only one possible response to this: Grow up. Nobody in the West cares enough about India or Adani to put all the effort into creating a giant conspiracy that links together BBC documentaries and short-sellers, points out Mihir S Sharma.
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Hindu temples are also coming up in Bahrain and Abu Dhabi, the prime minister told the gathering.
The Maharashtra police has booked Indiabulls group companies, including its flagship Indiabulls Housing Finance (IBHL), for allegedly siphoning off funds and for accounting irregularities committed by the promoters and directors of the company between 2014 and 2020. A first information report was registered by the Palghar police on April 13 under various sections of Indian Penal Code dealing with cheating, fraud and criminal conspiracy. The move comes after Palghar's judicial magistrate passed an order under Section 156 (3) of the Code of Criminal Procedure (power to direct police/agency to investigate the matter), following a complaint filed by Ashutosh Kamble, a shareholder of IBHL.
'The Modi government is doing a good job but corrupt officers are siphoning off funds,' says journalist Pawan Kumar Jaiswal against whom an FIR has been filed for his video expose of school children being fed salt and rotis as their mid-day meal.
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.
The economic offence wing of Delhi police has registered an FIR against Nayati Healthcare's Niira Radia and four others for alleged embezzlement of over Rs 300 crore of bank loan, following a complaint filed by orthopaedic surgeon Rajiv Sharma from whom they had acquired two hospitals.
Congress President Sonia Gandhi on Wednesday claimed that West Bengal has been taken on a road of destruction under the 34-year Left Front rule and assured that the Congress-Trinamool alliance is determined to free the state from this "misrule".
In its order, the court cast serious doubts on the bonafides of the complainant - Ashutosh Kamble, a shareholder of the company.
