'A proper system needs to be introduced to regularise unaccounted money in India or abroad for being used for the country's economic and infrastructural growth,' the IndusInd International Federation said in a pre-Budget memorandum to Finance Minister Pranab Mukherjee. The IIF also suggested that the country needs to take up electoral reforms. The NRIs favoured state funding of elections and stopping the 'flow of money into the parallel economy.'
Police in Dahod, Gujarat, seized over Rs 2.56 crore in unaccounted cash from a car during a routine vehicle check. The cash was being transported from a courier firm to Vadodara, and the driver could not provide documentation for the money's source.
This would be a practical way of bringing a huge sum of money.
A special court in Mumbai has said that Shiv Sena MP Sanjay Raut dealt with some "unaccounted money" for purchasing plots at Kihim near Alibag in Raigad district, but the same cannot be "thrown in the stock of proceeds of crime (POC) under the provisions of the Prevention of Money Laundering Act (PMLA)".
An assistant engineer in Rajasthan was caught with 3.7 lakh in unaccounted cash during a surprise check by the Anti-Corruption Bureau.
Self-styled godman Ashok Kharat, already jailed for alleged rape and fraud, has been arrested by the Enforcement Directorate in connection with a Rs 70-crore money laundering case. The arrest follows court approval and is part of an ongoing investigation into a large-scale extortion racket.
Unaccounted money totaling nearly Rs 69 lakh were recovered from different parts of Uttar Pradesh, including Rs 6 lakh from an Samajwadi Party MLA, during the ongoing drive to check flow of illegal money during assembly elections, police said on Wednesday.
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The Finance Ministry has asked tax evaders to pay their dues or face necessary action.
The Income Tax Department conducted searches at multiple locations in Kolkata, including the residence of TMC MLA Debashis Kumar and Miraj Shah, a proposer of Mamata Banerjee's candidature. The TMC alleges the raids are politically motivated.
Bareilly police have busted an alleged hawala racket, arresting two individuals and seizing Rs 35 lakh in cash along with fake Aadhaar cards. The investigation has uncovered a Dubai link and potential national security implications, with efforts underway to trace other involved parties.
A Delhi court has ordered the framing of charges against actress Jacqueline Fernandez, Sukesh Chandrashekhar, and others in connection with a Rs 200-crore money laundering case. The court also ordered charges against Chandrashekhar and others for offences including those under MCOCA in a separate case.
West Bengal Chief Minister Mamata Banerjee has accused central forces of searching her car and criticised the BJP for alleged election misconduct during a rally in Islampur, Uttar Dinajpur district.
'Earlier, people used to hand money directly to priests after a ritual, and priests would keep it in their own pockets. We completely stopped that practice.'
Punjab Cabinet Minister Sanjeev Arora has challenged his arrest by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), claiming it is illegal and unconstitutional. The Punjab and Haryana High Court heard arguments and adjourned the matter to May 14. Arora was arrested in connection with an alleged Rs 100-crore GST fraud-linked money laundering case.
The Odisha Vigilance Department seized 45.41 lakh in cash from an Odisha Police Housing and Welfare Corporation (OPHWC) deputy manager, who was unable to explain the source of the funds. Raids were conducted on his properties in multiple locations.
The Enforcement Directorate has attached properties worth over Rs 1,000 crore as part of its investigation into the alleged Chhattisgarh liquor scam, filing a fresh complaint against four additional accused.
A staggering $18 trillion worth unaccounted money is stashed in tax havens.
The Bombay High Court has ruled that accepting a bribe constitutes acquiring proceeds of crime, denying relief to a former municipal official arrested in a money laundering case.
The Enforcement Directorate (ED) has arrested I-PAC co-founder Vinesh Chandel in connection with a money laundering case linked to the coal scam probe in West Bengal, escalating tensions ahead of the state's Assembly elections.
A Delhi court has remanded I-PAC co-founder Vinesh Chandel to the Enforcement Directorate's custody for 10 days in connection with a money laundering case involving alleged diversion of funds worth crores of rupees.
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
A Delhi court has ordered the framing of charges against Sukesh Chandrashekar and 20 others under MCOCA and other offences related to extortion and organised crime.
A legal representative of I-PAC director Rishi Raj Singh assisted the Enforcement Directorate in Delhi with data extraction from seized electronic devices. This follows raids and the arrest of another director, Vinesh Chandel, amid allegations of financial irregularities and money laundering.
The Enforcement Directorate conducted raids across Arunachal Pradesh, uncovering a large-scale interstate liquor smuggling and money laundering network.
A man was detained in South 24 Parganas district, West Bengal, and over 1 lakh in cash was seized from his possession during a vehicle checking drive ahead of the assembly elections.
To regularize political funding and eliminate its corrosive influence of corruption.
A Delhi court has ordered the framing of charges under MCOCA against gangster Lawrence Bishnoi and 19 others, citing a prima facie case against them. The order follows an FIR registered by the Delhi Police's special cell in March 2021 against an alleged organised crime syndicate led by Sandeep alias Kala Jathedi and his associates.
Kerala's voters are sophisticated, educated, and unforgiving. They have once again made it clear that no government is entitled to remain in power. The Congress would do well to remember this, points out Ramesh Menon.
'As result, Netanyahu 'convinced' Trump to go to war with the help of overoptimistic Israeli intelligence assessments, essentially explaining to him that they only need to bomb Iran for 3-4 days, and the regime would then collapse.' 'Rather unsurprisingly, Netanyahu is ever since blaming his own intel service for the entire operation failing.'
A BJP government in Bengal inherits more problems than it might care to admit at its moment of triumph, points out Ramesh Menon
The Election Commission has warned against any lapses in maintaining law and order ahead of the West Bengal Assembly elections, questioning the absence of a Narcotics Advisory Committee in the state and directing strict monitoring of financial transactions.
The Enforcement Directorate (ED) has filed a chargesheet in connection with alleged financial irregularities at the R G Kar Medical College and Hospital, naming former principal Sandip Ghosh and others as accused.
Former Surendranagar collector Rajendrakumar Patel is accused of fixing bribe rates for approving change of land use applications, according to the Enforcement Directorate.
Actor Mahesh Babu has been summoned by the Enforcement Directorate (ED) in a money laundering case related to realty group Surana group and Sai Surya Developers. The actor is accused of receiving over Rs 5.5 crore for appearing in advertisements for the Surana Group. The ED earlier found illegal transactions worth Rs 100 crore and seized Rs 74.5 lakh in cash during searches at Surana group's affiliated companies. Surana Group is accused of fraud under the guise of real estate ventures and is alleged to have caused financial losses to numerous investors.
A BJP leader said the money would be spent on welfare schemes for the poor, modernising of defence forces, and improving schools.
He was referring to the issue of Indians allegedly stashing unaccounted money in Swiss banks.
A profile of B Sudershan Reddy, former Supreme Court judge and Opposition's vice presidential candidate, highlighting his career, judgments, and contributions to constitutional law.
As per the official procedure, athletes have to submit bills within 15 days of the completion of a training or competition for which advance has been disbursed.
Shiv Sena functionary Rahool Kanal has said that comedian Kunal Kamra, who is facing a police case in Mumbai for making a derogatory remark against Deputy Chief Minister Eknath Shinde, will be welcomed in "Shiv Sena-style" when he comes to the city. Kanal also said the party has written to the Mumbai police demanding a probe against Kamra under the Foreign Contributions Regulation Act (FCRA) over foreign funding and unaccounted money. Kamra was summoned to appear before the Mumbai police on March 31 in a case related to derogatory remarks against Shinde. The Madras High Court granted interim anticipatory bail to the comedian on the condition that he execute a bond to the satisfaction of the judicial magistrate at Vanur in Villupuram district in Tamil Nadu.
Addressing Parliament on the first day of Budget session, President Pratibha Patil said steps have already been initiated for negotiations to enter into agreements for the exchange of information with major jurisdictions.
