The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion.
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.
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.
'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.'
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.
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.'
"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.
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.
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 .
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.
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.
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.
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.
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.
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.
Prashant Indulkar, 37, was secretary to VSNL's Managing Director N Srinath and was picked up by the Dadar police on February 1 after VSNL filed a complaint alleging that he had siphoned off funds.
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.
Brij and Aasha Chhabra were found shot in the head in an alleged case of contract killing. The couple had accused long-time friend Narayan Thadani of siphoning off their money and transferring their assets to himself. Thadani and three others, including two men whom Thadani allegedly promised $100,000 to kill the Chhabras, have been arrested in the case.
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
"We sponsor faculty awards, sabbatical grants, student fellowships, workshops and internships," said IBM India Research Lab Director Dr Daniel Dias.
Gitdabling, a village near Kalimpong, is famous for its homemade cakes and pastries in the Darjeeling district of West Bengal.
Upset that they had not been helped in bad times, the family of legendary playback singer Manna Dey did not accept the request of West Bengal Chief Minister Mamata Banerjee to bring his mortal remains to Kolkata for the last rites.
Can call centre thefts end India's flourishing BPO business? Do such deeds give India a bad name? Tell us what you think.
In a landmark judgment, a federal jury in the US has indicted three Indians - two from Chennai and one settled in Malaysia - for hacking online accounts of brokerage firms and siphoning off millions of dollars.
Mumbai metropolitan region, comprising Mumbai city, Navi Mumbai and Thane, leads the pack (in delayed projects) with 210,000 units at an approximate valuation of Rs 2.34 trillion.
The Economic Offences Wing of the city police arrested Gawli, the president of the Akhil Bharatiya Sena.
Many defaults banks have been seen pertain to sectors like steel, infrastructure and power.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
Data mining with the object of ensuring that resources are properly deployed to legitimate beneficiaries is a valid ground for the state to insist on the collection of authentic data
BSES entities BRPL (BSES Rajdhani Power Limited) and BYPL (BSES Yamuna Power Limited) supply electricity to around 12 lakh and 16 lakh customers respectively.
