CBI officials booked for graft by the central probe agency were not only receiving regular kickbacks for compromising investigation, but were also acting as conduits to bribe their peers on behalf of companies accused of siphoning off crores of public money from banks, the FIR against them alleges.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
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 search and survey operation was started at 44 locations in Mumbai and Surat on November 6, on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly in Brihanmumbai Municipal Corporation.
The Government of Dominica has told a court there to reject the habeas corpus petition filed on behalf of businessman Mehul Choksi who had claimed that he was abducted and forcefully brought to the Caribbean island nation, local media reported. The high court of Dominica ordered that the businessman be produced in a magistrate court to answer charges of his illegal entry into the country and adjourned the hearing on the habeas corpus petition till Thursday, according to local media. Rejecting the submission of Choksi who is wanted in India in an alleged Rs 13,500 crore loan fraud case in Punjab National Bank, the prosecution said the habeas corpus petition does not stand as he had illegally entered the country and was subsequently detained.
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.
In its chargesheet filed in a special court in Srinagar, the CBI alleged that Abdullah as the association president at that time had connived with the treasurer of JKCA and others for undue siphoning off and misappropriation of funds, a CBI spokesperson said in New Delhi.
'The actual amount due to Jet Airways employees is Rs 1,200 crore, and the management is giving only Rs 52 crore.'
The staffers posed as US Internal Revenue Service department officials, making a daily turnover of Rs 1.5 crore.
An official request has been made to the CBI to get a notice issued through its Interpol wing
The Supreme Court in its order said it was not open for SP group companies to call Ratan Tata a "shadow director" when the board of which Cyrus Mistry was chairman had nominated him as chairman emeritus of the USD 100 billion salt-to-software Tata group.
The Supreme Court on Thursday directed that former Unitech promoters Sanjay Chandra and Ajay Chandra be shifted from Tihar Jail in Delhi to Mumbai's Arthur Road Jail and Taloja prison in Maharashtra after the ED said they were conducting business from the premises in connivance with the staff.
The agency has alleged that Tuki, then minister of consumer affairs and civil supplies in Arunachal Pradesh, had colluded with his brother Nabam Tagam to siphon off illegal gratification received for the contracts given to develop two parking places in Nirjulee and Naharlagun in the state worth Rs 61.43 lakh and Rs 2.60 crore.
"It is not true that there is 30-40 per cent siphoning," rural development minister C P Joshi told the Rajya Sabha during Question Hour.
They would call US citizens and demand their financial and bank details, failing which they would allegedly threaten them with dire consequences, including legal action and jail term
The main issue is about their valuation as, unlike listed companies, they are unregulated, and the buyer can take advantage of this.
"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 FIR by the Bihar police says Rs 15 crore was siphoned off from Sushant's account.' 'During the probe, we found he had Rs 18 crore in his account of which around Rs 4.5 crore are still there.'
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.
The Congress MP from Sivaganga also slammed the All India Anna Dravida Munnetra Kazhagam-Bharatiya Janata Party alliance and said the people of Tamil Nadu do not want a government which has any "stain, scent or shadow" of the BJP as its 'Hindi-Hindutva' agenda "irritates" them.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
A senior CBI official said Adani group is alleged to have 'over-invoiced' its loans to the tune of Rs 2,300 crore (Rs 23 billion) between 2011 and 2013.
She will give a tough fight to the Congress there, he said.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
In her complaint sent to the Bandra police in Mumbai on Sunday, Chakraborty sought that Priyanka Singh and Dr Tarun Kumar, working with Ram Manohar Lohia Hospital in Delhi, be booked under relevant sections of the Indian Penal Code for forgery, the Narcotics Drugs and Psychotropic Substances (NDPS) Act and the Telemedicine Practice Guidelines.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The three promoters - Anil Kumar Sharma, Ajay Kumar and Shiv Priya - had diverted Rs 1,500-1,600 crore through bogus methods like loans and advances between group firms at inflated rates.
All 28 members of the US women's squad sued the governing body for soccer in the United States, alleging gender discrimination
'One cannot avoid speculating whether there was something else at play that led to the uncovering of this saga.'
The Dominica high court on Wednesday ordered that diamantaire Mehul Choksi be produced before a magistrate there to answer charges of his illegal entry into the Caribbean island country, local media reported. Dominica high court Judge Bernie Stephenson issued the orders after nearly three hours of hearing on a habeas corpus petition filed on behalf of Choksi who had claimed that he was abducted from neighbouring Antigua and Barbuda and forcefully brought to the Caribbean Island nation. She adjourned the habeas corpus matter till Thursday, Dominica News Online reported.
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
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.
In his statement to the Enforcement Directorate, Dhoot conceded that Rs 64 crore had been transferred to Deepak Kochhar's NuPower Renewables through a web of entities to allegedly acquire wind farm properties.
Sushant Singh Rajput's sister Shweta Singh Kirti posted a cryptic quote on her social media platforms saying people should think about the consequences before messing up with someone.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
'No action will be taken against Ajit Pawar. I am sure.'
The IEO, which has been entrusted to assess public programmes, has found that 57 per cent of the subsidised foodgrains distributed in Delhi, do not reach the target group with close to 36 per cent siphoned off the supply chain.
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