BUSINESS
Cops miffed with SEBI's inaction in dabba trading crackdown
The Securities and Exchange Board of India (SEBI) has gone on a campaign overdrive to curb ‘dabba trading’ but the police says that the regulator's hesitance in filing a case in several cases is letting violators get off the hook.
BUSINESS
Whistleblower's letter alleges evergreening of loans by SREI; company refutes charges
The letter, dated December 19, 2018, was sent to Additional Commissioner, CGST, with copies to Reserve Bank of India and Serious Fraud Investigation Office.
BUSINESS
IL&FS saga: ED not convinced with findings of Grant Thornton report
According to the ED, the audit report only sheds light on some transactions but an in-depth forensic report is missing.
BUSINESS
Fresh tax trouble for Shah Rukh Khan: I-T challenges relief over alleged benami property
The I-T mounted the challenge after the Adjudicating Authority dismissed the case and slammed the department for labelling a property acquired by Shah Rukh’s firm as ‘benami’
BUSINESS
Sun Pharma auditor files case against Macquarie with Economic Offences Wing: Sources
Macquarie, an Australian multinational independent investment bank and financial services company, questioned corporate governance practices at Sun Pharma, causing the drugmaker's shares to end at a six-month low on November 29, 2018.
CORPORATE-ACTION
PNB scam: ED chargesheets Nirav Modi’s wife Ami; Red Corner Notice may be issued against her
The Enforcement Directorate is following a trail of $30 million which was routed to the US via illegal means. The money was used to purchase a property in New York. The transaction has numerous layers, the ED has learnt that it was first handed over to Mumbai-based firm Solar Stellar and then to Purvi Mehta [Nirav Modi’s sister] after which the property was bought in the US
BUSINESS
SC sets aside Bombay High Court order penalising senior tax official
The division bench of the apex court, led by Justice DY Chandrachud and Justice Hemant Gupta, while hearing a plea filed DCIT Sanjay Jain, said the HC had issued directions without issuing a specific notice to the petitioner.
BUSINESS
Chanda Kochhar distances herself from husband Deepak’s business dealings
Chanda Kochhar has maintained the same statement in her questioning by the Central Bureau of Investigation (CBI) and Ministry of Corporate Affairs (MCA).
BUSINESS
Grant Thornton audit finds violations of RBI loan sanction regulations by IL&FS
The auditor has also identified 18 instances worth Rs 2,400 crore where the committee of directors ultimately approved loans to those borrowers who appeared to be under potential stress, despite such information being available in the public domain and even a negative assessment by the Risk team.
BUSINESS
ICICI-Videocon case: ED conducts searches at residences of Deepak Kochhar's father and brother
The ED has also been investigating into NU Power's overseas dealings and in particular, its relationship with the Matix group.
BUSINESS
Grant Thornton audit of IL&FS group company shows Rs 2,364 crore given to promoters, directors
The Enforcement Directorate (ED) is investigating at least six instances where nearly Rs 100 crore in loans disbursed to borrowers were transferred to their promoters or directors.
BUSINESS
ED questions Chanda Kochhar, husband Deepak and Venugopal Dhoot's after raids on their residences, offices in Mumbai
The Enforcement Directorate (ED) is conducting searches at the residences and offices of Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot, Chairman, Videocon Industries in relation to the ICICI Bank-Videocon loan case.
BUSINESS
SEBI restrains North End Foods Marketing, RK Commodities, 24 others from trading in securities
SEBI has observed that NEFM, with the help of other entities, acquired an influential beneficiary position in Mentha Oil Contracts through unfair means.
BUSINESS
NSEL scam: Mumbai EOW to file 6th chargesheet this week against 195 brokers, 24 defaulters
The EOW had first registered a case against NSEL, Jignesh Shah, Anjani Sinha, numerous brokers and defaulters in 2013.
BUSINESS
ED questioning senior IL&FS officers over deals with HDFC and LIC
The economic intelligence agency is expected to call consultants who worked with IL&FS groups to understand the structure of the deals.
BUSINESS
Sebi's 'not fit and proper' order may not apply to other arms of Motilal Oswal, IIFL
The February 23 order by the Securities and Exchange Board of India led to some uncertainty over its impact for the rest of the group companies.
BUSINESS
NSEL scam: SEBI declares commodity arms of Motilal Oswal, IIFL 'not fit and proper'
Some of the other leading brokers who are being probed in the NSEL case are Anand Rathi Commodities, Philip Commodities and Geofin Commodities.
BUSINESS
ED questioning former top officials of IL&FS; puts overseas firms under scanner
The former group chief Financial officer Maharudra Wagle was the first to be questioned on February 22.
BUSINESS
Revealed: How IL&FS took Gurgaon Metro for a Rs 300-crore ride
The Enforcement Directorate (ED) today raided former officials of IL&FS and one of its subsidiaries. The FIR, which forms the basis of investigation, reveals the modus operandi of how it siphoned money.
BUSINESS
ED registers money-laundering case against former IL&FS top brass, raids company's offices
The Enforcement Directorate (ED) has registered a case against former top officials of IL&FS, including its former chairman Ravi Parthasarathy, under the Prevention of Money Laundering Act (PMLA).
BUSINESS
Banks may have to write off nearly Rs 30,000 cr of loan to IL&FS entities
“A large part of provident fund investments are in the Rs 50,500 crore assets,” the source said, adding, “..and they are likely to take a significant hit, as they will get their money only after secured lenders have been paid off"
BUSINESS
SEBI may allow mutual funds & PMS in commodities at March board meet; indices too on cards
SEBI may also give its consent to indices in the commodities market
BUSINESS
Court fines petitioners withdrawing case against Tatas; company directs amount to charity
The petitioners recently told the court that they wanted to withdraw the petition but the court took a dim view of it.
BUSINESS
Banking body may again implore RBI to defer provisioning for IL&FS arms
This time around, IBA may apply only for Amber companies of IL&FS after a meeting with the Secretary of the Ministry of Corporate Affairs and new Uday Kotak-led board on January 22
