Tag: fraud

In the most recent $2.5 billion IPO by Gautam Adani, his investors gave him a thumbs up, still assessing how Adani is exposed to...

Sailed through within minutes before the markets were closed on Tuesday, India's largest follow-on public offer (FPO) till date, by Adani Enterprises stood at ₹20,000...

The Bombay High Court on Thursday granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have been accused...

The Prevention of Money Laundering Act (PMLA) court allowed the banks to use the confiscated assets of Vijay Mallya (63). The news agency quoted the sources of Enforcement Directorate (ED) on Wednesday. However, this order will remain postponed till January 18. Meanwhile, Mallya or other related parties can appeal in the Bombay High Court.

Anil Ambani, owner of Reliance ADAG Group, has been sued by three Chinese banks for Rs 48.53 billion (680 million Dollar). These banks have said that Anil Ambani's closed company Reliance Communication had taken a loan of Rs 66.03 billion ($ 925.5 million) in 2012, which was defaulted in 2017.

An FIR has been filed against Oyo Hotels and Homes founder Ritesh Agarwal and 6 others. A hotelier has accused Oyo of not paying for the last 5 months. He claimed to owe Oyo Rs 35 lakh. Police gave this information on Monday.

The company's stock fell nearly six-and-a-half years low due to allegations of exaggerating revenue and profits on the CEO and CFO of Infosys, the country's second largest information technology company. Infosys shares weakened by about 16.21 per cent to Rs 643.30. This is the biggest drop in the stock since April 2013. This led to a loss of about 55 thousand crores in the market capital of the company.

The chargesheet of the Enforcement Directorate (ED) has revealed the unaccounted expenses of Ratul Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath. Ratul was arrested by the ED in August in a money laundering case of 8,000 crore. He is also an accused in the VVIP chopper scam. According to the ED, Ratul was living a luxurious life on the credit card of Dubai hawala operator Rakesh Saxena. He used to travel in a private jet and used to go to the nightclub everyday. He spent 7.8 crores rupees ($ 11,43,980) in a club in America.

Another online fraud case has been registered with police recently. A Mumbai man working as a deputy manager with a mobile service provider became...

According to the Central Investigation Agency, the action taken under the provisions of the Prevention of Money Laundering Act (PMLA) involves the attachment of Bhushan Steel, its buildings, plants and machinery in Odisha. The total value of the attached property is estimated to be around Rs 4025.23 crore.