Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
According to lawyers familiar with the development, Premji is yet to reply to the notice. Subramanian neither responded to phone calls nor messages sent to him.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
Siphoning off food and fuel meant for the poor has made India's public distribution system ineffective.
As per the chargesheet, "the accused forged board resolutions and unauthorisedly obtained loans to the tune of Rs 1,220 crore (Rs 12.20 billion) for Satyam Computer.
A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
Wipro, the information technology to soaps conglomerate, says it is unlikely, at least for now, to file a formal complaint against the employee who recently siphoned off around $4 million (around Rs 18 crore) from the company's bank account by accessing a colleague's password.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
If the developers continue to express inability to pay, buyers should file a petition in the SC and request it to initiate proceedings under Article 142 of the Constitution
The CBI has charged Satyam founder B Ramalinga Raju, his brother B Rama Raju and eight others with creating fictitious customers and siphoning off Rs 430 crore (Rs 4.30 billion) from the IT firm.
Gujarat police opposed in the Supreme Court the anticipatory bail plea of Teesta Setalvad.
The Allahabad High Court on Saturday turned down a plea to initiate criminal proceedings against Samajwadi Party general secretary Amar Singh.The petition was moved by Shiv Kant Tripathi, a lawyer, who had earlier this week lodged a FIR in a Kanpur police station, accusing Singh of committing a huge fraud through his alleged money laundering operations, during his stint as the chairman of the Uttar Pradesh Development Council.
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion.
Goa Cricket Association president Chetan Dessai, secretary Vinod Phadke and treasurer Akbar Mulla were today arrested by police for alleged misappropriation of over Rs three crore belonging to the organisation.
The Central Bureau of Investigation has admitted that a file pertaining to investigations into the allegations of siphoning of secret funds of the Research and Analysis Wing by one its former chiefs during his tenure has gone missing.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
As many as 120 questions have been put together by the experts and the CID team, which is trying ascertain if Satyam's founder Ramalinga Raju siphoned off the company's money through benami transactions. Sources in the CID said the questions were designed based on documents seized during raids at Raju's home and office on January 10 and 11. Raju, on January 7, disclosed that he had for years inflated Satyam's profits and created fictitious assets where none existed.
Khan, the chairman of Pakistan Tehreek-i-Insaf submitted the documents containing details of alleged bank accounts held by the Sharif family and loan write-off schemes.
After charge-sheeting Ramalinga Raju and others in the multi-crore rupee accounting fraud at Satyam, the Central Bureau of Investigation is trying to ascertain the role of 'hawala' operators who allegedly brought in crores of rupees from abroad.
The Securities and Exchange Board of India is all set to begin the proposed peer audit review of the companies that form the Sensex and Nifty benchmark indices.
Naseer Khan, the blind actor and co-producer of Shadow, was arrested for his alleged involvement in a multi-crore chit fund scam in Balasore district.
The government said on Wednesday that Satyam Computer Services' disgraced founder Ramalinga Raju created a network of about 300 companies and diverted funds from one company to another in a complex but carefully planned process. Speaking to Karan Thapar on the CNN-IBN news channel, Gupta said, "Our information is that there was a network of almost 300 compnaies and funds were diverted from one company to (another) and then to (a) third."
The directors who have come under the Company Law Board order are former chairman and founder of Satyam B Ramalinga Raju, erstwhile whole-time directors B Rama Raju and Rammohan Rao Mynampati, former CFO Srinivas Vadlamani and CS G J Jayaraman. They also have to submit details of their bank accounts and movable and immovable properties in India and abroad by February 20 this year.
'Whoever lives and works close to New Delhi's seat of power knows what a humbug it is when ministers and political leaders announce that he or she will travel by economy class or, worse, travels by train while living in the cosiest homes and the most secured zones in an insecure India.'
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
They said Rajeev Shamsher Bahadur Saxena wanted in the Rs 3,600 crore AgustaWestland VVIP choppers money laundering case and lobbyist Deepak Talwar wanted by the Enforcement Directorate and the Central Bureau of Investigation in a case of misusing over Rs 90 crore taken through the foreign funding route, were brought in a special plane to Delhi around 1:30 am.
Rajiv Saxena, an accused in AgustaWestland chopper deal scam, was extradited from Dubai, UAE, to India .
"There was an income tax raid at the firm premises sometime back... later, the company did pay up the required tax. But it came to light that certain bogus bills were debited in the account, which inflated expenses. The company had taken advantage of this while filing its income tax," a senior official of the serious frauds investigation office, who didn't wish to be identified, said.
The banned Chinese apps, which include TikTok, Shareit and UC Browser, earn revenue mainly from online advertisements, subscriptions, and commissions for selling products. India is the biggest driver of these Chinese apps due to the population. The ban on the 59 Chinese apps will negatively affect the valuations of the companies, especially those going for IPO.
A good example of just how little comes to light are the series of serious allegations made by the Ambani scions in their fight over the years of wrongdoing by each other - none of these are anything that the MCA came up with, nor have they been seriously investigated afterwards.
The special court on Monday rejected Kingfisher's plea challenging ED's claim that Rs 430 crore (Rs 4.3 billion) was siphoned off and used to acquire properties abroad.
The Association of Payment Clearing Services said that the 25 per cent initial rise in fraudulent use of British credit and debit cards in three years was mainly due to stolen and counterfeit cards used abroad. Card fraud overseas rose by 77 per cent last year to 208 million, 39 per cent of the total. There have been several instances of British consumers reporting money withdrawn from their accounts in India, The Philippines, Australia and Canada.
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.
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
The kingpin of the racket, Joseph, an unemployed techie hailing from Virudunagar in Madurai district of Tamil Nadu, was nabbed from a cyber cafe in Mahadevapura near Whitefield by the police on November 29. Six of his associates have also been nabbed. The police tracked the accused by tracing the IP address of the PC from where the accounts were hacked.
Parekh was held guilty in the case related to the 1992 stock scam, in which Canbank Financial Services was duped of over Rs 47 crore (Rs 470 million). On April 1, a special court in Mumbai had sentenced Parekh, Hiten Dalal and four others to one year in jail for siphoning off funds from Canbank Financial Services Ltd, a unit of Canara Bank.
Modi said Congress's 'politics begins and ends with one family'.
The agency has written to the Interpol to issue a Red Corner Notice which would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite Nirav Modi
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