The MCA wants to look into several instances where Jet had written off investments in various subsidiary companies without any apparent reason.
Nittin Johari is accused of being the prime perpetrator who manipulated letters of credit (LCs) by filing false documents to avail funds from various banks.
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).
Controversies and allegations are not new for Zee promoter Subhash Chandra. But every time, Chandra has managed to forge ahead. Will he succeed this time too?
The National Company Law Tribunal allowed the government's plea for re-opening and re-casting of financial accounts of IL&FS and its group companies.
A supplementary notice is issued by SEBI if any investigation suggests wrongdoing – as pointed in this case by the Serious Fraud Investigation Office (SFIO), that is investigating the Rs 5,600-crore NSEL scam.
A multi-agency probe is already underway into the fraud, which was mainly perpetrated by way of fraudulent Letters of Undertaking (LoUs).
Moneycontrol has reviewed the SFIO interim report the MCA submitted to the National Company Law Tribunal Mumbai.
The tribunal has directed them to disclose movable and immovable assets and ensure no one creates any third party rights on these properties.
The report is based on an ongoing probe by the Serious Fraud Investigation Office (SFIO).
As many as six high-profile executives, not belonging to IL&FS, are likely to be named in the interim report, a source said.
A source told Moneycontrol that the MCA may take a view on this even as the SFIO is already looking into charges of mismanagement at IL&FS.
The Serious Fraud Investigation Office (SFIO) had flagged a case of conflict of interest against Bajpai when he was an independent director on the now-defunct Kingfisher Airlines’ board
A class action suit is one that allows a large number of people having a common cause of action to jointly file or pursue a litigation.
The observations by the court came during the hearing of a habeas corpus plea moved on behalf of Singal, through advocate Pramod Kumar Dubey.
Neeraj Singal, the promoter, was arrested on August 8 in relation to an SFIO investigation into the affairs of Bhushan Steel Ltd and Bhushan Steel and Power Ltd.
Bhushan Steel, and its erstwhile promoters, have been previously accused of siphoning off over Rs 2,000 crore.
Minister of State for Corporate Affairs P P Chaudhary said in a written reply to the Rajya Sabha yesterday said that "SFIO receives various complaints against companies. Complaints have been received against Mehul Choksi, ICICI and L&T".
On May 15, Ruchi Soya had declared to the exchanges that it had received a letter from the SFIO regarding an investigation into its affairs.
Four Maharashtra-based companies admitted to investigators that were just ‘shell’ entities used to deposit cash worth Rs 450 crore
The Serious Fraud Investigation Office (SFIO) is probing alleged financial irregularities at debt-laden Aircel as well as two group entities -- Aircel Cellular and Dishnet Wireless
A source told Moneycontrol that the MCA’s Registrar of Companies had carried out an extensive investigation into these companies and found several instances of funds being siphoned off.
Acting on the complaint received, SFIO's Mumbai regional office has written to the head-office here stating that it "is a fit case to be investigated" as it will "help in unearthing wrong doings of L&T group, in terms of misappropriation of money, money laundering and tax evasion".
Against the backdrop of controversy over the alleged conflict of interest and quid pro quo involving ICICI Bank CEO Chanda Kochhar and her family members in extending a loan to Videocon Group, reports said the Serious Fraud Investigation Office (SFIO) has sought permission to look into the matter.
The Serious Fraud Investigation Office (SFIO) -- white collar crime probe agency-- comes under the corporate affairs ministry.