8th October 2019
The government on Monday set up a high-level inter-ministerial committee chaired by revenue secretary for better coordination among various departments and law enforcement agencies to prevent money laundering activities.  The 19-member Inter-Ministerial Co-ordination Committee has five secretaries, including from ministries of finance and external affairs, and chiefs of various… Read More
4th October 2019
The ED on Friday raided six locations in Mumbai and adjoining areas and registered a money-laundering case to probe alleged fraud in the Punjab and Maharashtra Cooperative (PMC) Bank case, officials said. They said the raids were being conducted after a criminal complaint was filed under the Prevention of Money… Read More
20th September 2019
The Reserve Bank of India, on Thursday, issued a revised set of rules for concurrent audits in commercial banks, amidst rising instances of fraud detected at Indian lenders.  Concurrent audits, conducted by internal officials or an external agency, are intended to examine transactions across various banking departments to ensure… Read More
28th August 2019
Former finance minister P. Chidambaram said in the Supreme Court on Tuesday that the Enforcement Directorate should be asked to produce transcripts of his questioning in the INX Media money laundering case, and claimed the probe agency wanted his arrest just to “humiliate” him. Chidambaram’s counsel told the apex court… Read More
22nd August 2019
Police arrested former Indian finance minister P. Chidambaram late on Wednesday in relation to alleged corruption and money laundering, a day after the Delhi High Court rejected his application to seek exemption from arrest. Chidambaram was arrested by federal police on a warrant issued by a competent court, a spokesman… Read More
2nd August 2019
The Enforcement Directorate on Thursday registered a case against senior Samajwadi Party leader Azam Khan on allegations of money laundering. The case has been registered against him in connection with multiple alleged land-grab cases that have been registered against him in Uttar Pradesh. As per officials, the ED has… Read More
2nd August 2019
Indian authorities are questioning the former vice president of the Maldives, Ahmed Adeeb, for illegally entering the country after he arrived on a tugboat in the southern Indian port city of Thoothukudi, port and police officials said on Thursday. Adeeb was sentenced to 15 years in jail in 2016 for… Read More
24th July 2019
A JPMorgan Chase & Co. unit violated India’s foreign investment rules and helped property developer Amrapali Group divert funds from realty projects, the nation’s Supreme Court said in a ruling and ordered an investigation. The court on Tuesday… Read More
23rd July 2019
An Indian government panel has recommended banning all private cryptocurrencies and a jail term of up to 10 years and heavy fines for anyone dealing in digital currencies, which could signal the end of them in India. The panel drew up a report and draft legislation, which will be examined… Read More
15th July 2019
India has told a tribunal the local auditing affiliate of international accounting group Deloitte Touche Tohmatsu is misreading a key federal law as the firm seeks to avoid a five-year ban on new business, according to legal documents reviewed by Reuters on Sunday. Deloitte Haskins & Sells LLP is contesting… Read More