The 52-year-old legislator from the Sivaganga Lok Sabha seat in Tamil Nadu was summoned by the central agency to appear this week at its office here and record his statement in the case being probed under the Prevention of Money Laundering Act (PMLA).
Electoral bonds are interest-free bearer bonds or money instruments that can be purchased by companies and individuals in India from authorised branches of the State Bank of India (SBI). These bonds are sold in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore. They can be purchased through a KYC-compliant account to make donations to a political party.
Chhattisgarh Chief Minister Bhupesh Baghel has accused the BJP-led Centre of not playing a role in curbing Naxalism in the state. Baghel stated that Naxal violence increased during the BJP government's rule from 2014 to 2018, while his government's strategy of development, trust, and security pushed the Maoists back. He also dismissed allegations of scams against his government, calling them a conspiracy to defame his administration. Baghel's party high command will decide whether he will continue as CM if the Congress retains power after the upcoming elections.
The Enforcement Directorate has conducted fresh searches against the promoters and entities of Bhushan Steel Limited as part of a money laundering probe linked to a bank fraud case. The agency alleged that the promoters and entities rotated funds through multiple companies for personal purposes, causing losses to State Bank of India and Punjab National Bank. During the searches, incriminating documents, digital records, cash, foreign currency, and luxury cars were seized.
The Enforcement Directorate (ED) has attached assets worth over Rs 517 crore belonging to Maharashtra-based steel company SKS Ispat and Power Limited in relation to an alleged bank loan fraud. The assets, including land, building, and machinery, have been provisionally attached under the Prevention of Money Laundering Act. The investigation is connected to a case involving boiler manufacturing company Cethar Limited, which availed credit facilities of Rs 895.45 crore.
This was submitted by the agency while seeking custodial interrogation of former BSL managing director Neeraj Singal. He was arrested on Friday and was remanded in ED's custody by a Delhi court till June 20.Amid mounting debt and allegations of irregularities, BSL had gone into bankruptcy in 2017. Tata Steel acquired the company and the subsidiary out of bankruptcy and renamed it Tata Steel BSL. It has now been merged with Tata Steel.
Former Pakistani Prime Minister and current PTI chief Imran Khan on Tuesday was arrested by paramilitary Rangers at the Islamabad High Court where he was attending hearings for two cases. Pakistan has a history of imprisoning prime ministers, and the following is a list of former prime ministers of Pakistan who have spent time in custody at some point.
Corporate insolvency resolution process (CIRP) was initiated in the cases of DHFL, ABG Shipyard and Bhushan Power and Steel (BPSL), and resolution plans were approved in cases of DHFL and BPSL, with amount realisable to creditors of Rs 37,167 crore and Rs 19,895 crore, respectively.
Kriti Verma, a former Roadies and Bigg Boss season 12 contestant, has been accused of benefiting from money laundering.
GST inspector-turned-actor Kriti Verma recorded her statement with the Enforcement Directorate in a money laundering case where an income-tax official had allegedly siphoned off Rs 264 crore by using the login credentials of his seniors.
The doom-to-bloom story of the PSBs can be attributed to the initiatives and spate of reforms undertaken by the govt led by Modi, along with the then FM Arun Jaitley and Financial Services Secy Rajiv Kumar. As part of the strategy, the government infused an unprecedented Rs 3,10,997 crore to recapitalise PSBs during the last five financial years
Kochhar and her husband, Deepak, were arrested by the Central Bureau of Investigation on December 23. Venugopal Dhoot, chairman of Videocon, is also in CBI custody.
India has the potential to show the highest growth in GDP, in the next 12 months, maybe anywhere. I might be missing some small country, but 6-8% GDP growth at India's scale will be unique and China's certainly not going to grow at that level, Bain Capital's Managing Partner Gross-Loh said.
Lenders that have sold loans to ARCs against SRs fear that the rating companies that will take on the Brickwork business may lower ratings on some SRs. This, in effect, would require lenders to make higher provisions. Sebi said Brickwork neither followed procedure nor did it exercise due diligence. Brickwork Ratings is considering legal recourse against Sebi’s directive.
The situation in the quarter was exceptional. There was impact from the Russia-Ukraine war and entire commodity market went into a tizzy, said JSW Steel joint managing director Seshagiri Rao.
The federal agency in September 2021 had provisionally attached the properties located in the prime location of Mumbai on Dr Annie Besant road, Worli.
The ED had claimed earlier that a "criminal conspiracy was hatched to dishonestly and fraudulently divert huge amounts of bank funds through companies/shell companies and other entities and repayment of the loan amount was deliberately defaulted and inadmissible Cenvat credit was also claimed."
A co-accused in the money laundering case had approached the High Court to challenge a trial court decision turning down a plea by the accused seeking access to documents not relied upon by the Enforcement Directorate (ED) for the purpose of the trial.
The ED has attached properties worth Rs 1.74 crore in connection with its money laundering probe linked to an alleged bank fraud in Bhushan Power & Steel
The authority has held that the British multinational bank acted in “haste” to sell the property that stood provisionally attached by the ED in a ₹47,000 crore bank fraud scandal involving former Bhushan Power & Steel Ltd chairman Sanjay Singhal.
“We have received a fresh offer in which JSW Steel has agreed to make an upfront payment for Bhushan Power & Steel; also the offer has been hiked by ₹400 crore," said a lender involved in the negotiations.
The agency said that while investigating the role of a resolution professional (RP), they found documents that revealed that “...commission of ₹60 lakh is shown to be payable to bank officials, including ₹50 lakh for Punjab National Bank (PNB) officials and ₹10 lakh for PFC officials.” PNB is the lead bank in the committee of creditors.
According to the agency, goods valued at Rs. 700 crore had been allegedly cleared without payment of applicable taxes and duties and without issuance of any statutory invoice.
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