The Crime Branch and Delhi Police had earlier on December 11carried out raids at the office of his firm T&T Law and seized nearly Rs 13.5 crore, of which Rs 2.6 crore was in new banknotes released after demonetisation.
The Enforcement Directorate on Wednesday said it has arrested two persons in Chennai for alleged illegal exchange of Rs 6 crore in old notes "in connivance with" sand-mining baron J Sekhar Reddy as part of its money laundering probe post demonetisation.
The agency filed the prosecution complaint under the Prevention of Money Laundering Act before a special court in Mumbai and said Naik's "inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts."
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
The Central Economic Intelligence Bureau, lead agency under Finance Ministry to gather and disseminate intelligence related to financial crimes, has traced illegal flow of money through Private Placement Programme, which involves offering of securities to select individuals or groups, upto 50 in numbers, official sources said.
'In the coming months, expect more government action that will be packaged as an assault on black money,' warns A K Bhattacharya.
"I have been in this business (banking) for two decades. While doing business nothing wrong has been done. However, irregularities may happen. If irregularities have happened, there is punishment for it. I am ready to face punishment," state Cooperatives Minister Subhash Deshmukh said.
Nobody is claiming that Indian democracy is perfect. Yet, all of us need to go out there and participate in the incredible event called Indian elections. Sheela Bhatt explains why.
Gujarat Chief Minister Narendra Modi on Sunday night alleged that a report by the Comptroller and Auditor General of India had found that Rs 50,000 crore was unaccounted for and 'missing from the central government's coffers'."The country wants to know from Prime Minster Manmohan Singh about this money that has simply vanished," Modi said. Training guns on Dr Singh, Modi said the country should know whether the huge sum of "missing money was being used for the elections."
Investment advisor Anil Rego will answer your queries on the ban on Rs 500 and Rs 1000 notes and what you should be doing.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
The I-T department said NuPower's balance sheet did not substantiate the high premium paid by Singapore-based DH Renewables for its shares, and suspects it could be a case of round-tripping of unaccounted income by NuPower.
If you are making any drastic changes, make sure there is adequate documentation
Violations of the act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
Chidambaram mocked her with a tongue-in-cheek tweet.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
Switzerland will not share details about accounts held prior to September 2018.
In the second half of April, the discount on gold came down to $3 an ounce.
Shivakumar will be produced before a court in New Delhi on Wednesday by the ED for seeking his custody.
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
It has been in force since October 2011.
While people have paid the price for the disruption it caused, now is the time to reap its benefits, says T N Ninan.
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
Such a move will help bring clarity to the Centre's estimates of the demonetised amount
Fifty other entities, including the Congress, have been served notices
He dismissed as 'hollow claim' and 'Modi's propaganda' that things have started looking up.
Officials said it had informed the RBI about these alleged malpractices earlier and is regularly updating it about such modus operandi being deployed
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
This time round, even 'petrol coupons' were reportedly distributed for those attending campaign rallies, especially those addressed by top leaders, cutting across party lines. If this owed to the rising cost of petrol and diesel -- which is a poll issue this time -- there were the customary coupons for 'quarter' (liquor bottle size) and non-vegetarian biryani. Some media reports claimed that some of these 'crowds' attended more than one political rally on the same day in the last week, and at times for rival political parties in adjoining constituencies or districts, says N Sathiya Moorthy.
This amount is just about 10% of the previous IDS
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
The court said that the existing regulations were not sufficient to regulate the NGOs across the country.
The International Weightlifting Federation (IWF) was plagued by decades of corruption orchestrated by autocratic former president Tamas Ajan, said Richard McLaren after he led an independent investigation into the governing body. McLaren, the Canadian law professor whose findings in July 2016 led to Russia being banned from all international athletic competitions, including the Rio Olympics, told reporters on Thursday that the IWF was rife with corruption. This included vote buying, doping cover-ups and $10.4 million in cash that cannot be accounted for.
'If the Modi government is successful in extraditing a high-profile fugitive such as Vijay Mallya or Nirav Modi before the 2019 election, the government will be able to link demonetisation to this and turn it into a positive.'
Finance Minister Arun Jaitley should not drop the ball on continuing the battle against black money and move towards digital transactions to reduce the preponderance of cash in the economy, says A K Bhattacharya.
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
Lead players in the poll-bound state are understood to be re-working their strategies on how to manage the campaign with less money with Rs 500 and Rs 1,000 notes becoming illegal tender in one stroke.
He referred to Supreme Court orders in which it has said that the court was not satisfied with the government investigation and its appointment of Special Investigation Team headed by retired judges to probe the issue.
The raid was carried out by the Crime Branch at the office of T&T Law Firm on Saturday night, the officer said.
