The FIR is based on a complaint filed by the Chennai Financial Markets & Accountancy, an investor group in May this yearThis comes even as the Karnataka high court has finished hearing the arguments in the four investor petitions filed against the AMC against its decision to wind down these schemes
1 min read25 Sep 2020Religare Finvest alleged that Malvinder Singh and his brother Shivinder Mohan Singh in connivance with the employees of Lakshmi Vilas Bank misappropriated two FDs of ₹400 cr and ₹350 cr made with the Lakshmi Vilas Bank by the complainant company
1 min read24 Dec 201936companiesand 27 individuals among entities named in the 28,000-page supplementarychargesheet
2 min read28 Dec 2018RBI has decided to introduce an ombudsman scheme for NBFCs to provide customers of NBFCs with a cost-free and expeditious grievance redress mechanism
1 min read11 Feb 2018The Maharashtra government has hired HDFC Realty to value and auction assets seized by Mumbai Police's EOW in connection with NSEL scam
2 min read24 May 2017The Serious Fraud Investigation Office (SFIO), which is a multi-disciplinary organisation that probes serious financial frauds, has been asked to submit its investigation report in six months time
1 min read1 Nov 2016Michael Ferreira held 80% shares in a franchisee of Hong Kong-based QNet, which ran a 'Ponzi scheme', seeking investments between Rs30,000 to Rs7.5 lakh
1 min read19 Oct 2016Sebi had imposed an interim ban on Sharepro Services, its promoters and other related entities in March
1 min read25 Aug 2016A decision was taken in this regard at a meeting under chairmanship of economic affairs secretary Shaktikanta Das that reviewed action taken in the NSEL scam
3 min read24 Jul 2016EOW on Tuesday seized Rs2,000 crore of assets belonging to the former FTIL, a week after the arrest of its founder Jignesh Shah in a money laundering case
1 min read21 Jul 2016The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared