Khushboo Narayan


CESTAT junks DRI’s adjournment request; starts hearing co’s plea afresh
Wed, Jan 17, 2018

The tribunal is scheduled to hear the arguments of the revenue department on January 17

Easing of FDI rules to benefit Maharashtra most
Sat, Jan 13, 2018

Maharashtra has been the largest recipient of FDI inflows since India opened up to the world.

Cryptocurrencies: Hopes & fears as Dream returns fire Bitcoin interest, but extreme volatility a cause for worry
Wed, Jan 10, 2018

According to Bloomberg data, Bitcoin has risen from $ 904.48 a piece to $ 14,239.64 a piece — up 1,474 per cent between December 23, 2016, and December 22, 2017.

Dena Bank fraud case: Enforcement Directorate attaches assets of Showman Group official
Wed, Jan 10, 2018

According to ED, the money was allegedly layered in multiple forged accounts created by the accused. The agency had in September 2017, provisionally attached properties worth 10.30 crore.

DRI investigation: Pernod Ricard India ‘evaded’ Rs 612.72-crore customs duty
Wed, Jan 03, 2018

Pernod Ricard reported 1 per cent sales growth in India during the nine months that ended March 31, 2017.

A rough ride for realty
Sun, Dec 31, 2017

Nearly half or approximately 3.5 lakh homes in the Mumbai Metropolitan Region have remained unsold

Income-Tax dept data: Maharashtra accounted for 37 per cent of direct taxes collected in country in 2016-17 fiscal
Sat, Dec 23, 2017

Maharashtra is followed by Delhi that paid Rs 1.08 lakh crore in direct taxes. Karnataka (Rs 85,920 crore), Tamil Nadu (Rs 60,077 crore) and Gujarat (Rs 38,808 crore) rounded off the top five states

2G spectrum case: DB Realty, Reliance, Essar ‘vindicated’ after acquittal
Fri, Dec 22, 2017

The 2G spectrum telecom scandal had led cancellation of 122 licenses by the Supreme Court on February 2, 2012.

RBI district-wise data: Mumbai accounts for lion’s share of banking business
Sat, Dec 09, 2017

Delhi follows Mumbai (both districts) with Rs 9.4 lakh crore of bank loans.

1 out of every 2 available flats sold in city since RERA came into being
Sat, Dec 02, 2017

As on October 4, 24,681 apartments were sold in Mumbai city out of the 50,239 available. Similarly, 86,479 apartments were sold in Thane out of 180,071 available.

DRI probe may affect Rs 800-crore relief to Adani
Thu, Nov 30, 2017

The DRI alleged at least 40 power generating firms imported Indonesian coal directly from ports in that country to India while import invoices were routed through one or more intermediaries based in Singapore, Hong Kong, Dubai and British Virgin Islands to artificially inflate its value.

All corporate ethics compromised in Kingfisher Airlines-Deccan Aviation deal: Fraud investigation office
Mon, Nov 20, 2017

The SFIO has found that Kingfisher created three business segments — commercial airlines, ground handling and training — on paper after announcing its merger with DAL to avoid paying capital gains tax.

Gold, diamond worth Rs 2 crore seized from Mumbai airport
Mon, Nov 20, 2017

Sources said the seized precious metal and stone belong to diamond firm Neo Diamonds that operates out of Zaveri Bazaar in suburban Mumbai. According to sources, the seized gold and diamond were being carried in handbags to Hyderabad

Tax raids on Hisaria unearths ‘230-crore hawala entries’
Sun, Nov 19, 2017

The tax searches on the Group, its promoters in Mumbai and a few accommodation entry operators in Kolkata began on November 17 and continued on Saturday

Algorithmic trading case: I-T department swoops on former NSE bosses, brokers
Fri, Nov 17, 2017

The Securities and Exchange Board of India (Sebi) is also investigating the NSE algo trading case to ascertain if brokers made unfair gains in connivance with exchange officials.

How a split-second advantage can bring huge unfair gains at the NSE
Fri, Nov 17, 2017

I-T has searched the premises of top former exchange officials as part of a multipronged investigation into how and why some brokers got preferential access to the trading system.

Rs 220-crore bank fraud: IPL team owner among victims
Mon, Nov 13, 2017

According to sources familiar with the case, the ED has found that Vimal Barot, senior vice-president of Showman Group, who is currently in jail, allegedly got seven firms to invest in fixed deposits with a Mumbai branch of Dena Bank.

Duration of power cuts among lowest in Maharashtra towns
Sat, Nov 11, 2017

Maharashtra also had fewer power cuts — about 2.5 times per month compared to an all-India average of 13.19 times. Only Himachal Pradesh (1.61 times) and Kerala (2.22 times) were better.

Demonetisation anniversary: Mumbai I-T dept probes 290 cases, traces Rs 3,100-crore unaccounted income
Wed, Nov 08, 2017

100 benami property cases under investigation; ED plans to attach assets of two firms for ‘money laundering’

One year of demonetisation: As cash returned, so did gold smuggling
Wed, Nov 08, 2017

Till October 2017, Mumbai Customs had seized 243 kg of smuggled gold worth Rs 61.85 crore.

One year after demonetisation, ATM firms’ reading: cash must still exist
Wed, Nov 08, 2017

At the end of August, the number of transactions through ATMs was 716 million, compared to 756 million in the corresponding period last year. Withdrawals rose to Rs 2.35 lakh crore as against Rs 2.19 lakh crore.

One year of demonetisation: Rs 2,000, Rs 500 fakes are now of ‘highest quality’
Wed, Nov 08, 2017

Between August and October, the Directorate of Revenue Intelligence has seized “high quality” FICN of face value Rs 35 lakh in the two new denominations.

Maharashtra leads the way in average assets managed by mutual fund industry
Sat, Nov 04, 2017

Maharashtra, one of the richest states in the country, accounted for Rs 9.23 lakh crore of assets managed by mutual fund houses in September 2017.

‘Antique smuggler’ booked by DRI: US Homeland Security starts investigation
Thu, Nov 02, 2017

The ASI, granted the DRI permission to launch prosecution against Nanda and a few of his associates allegedly involved in smuggling, under the Antiquities and Art Treasures Act, 1972.

Rajiv Lall: IDFC-Shriram deal came apart on difference of opinion over relative valuation
Tue, Oct 31, 2017

IDFC holds 52.8 per cent stake in IDFC Bank, which started operations in October 2015. The government holds a 7.7 per cent stake in the bank.

Inflating imports: DRI Adjudicating Authority drops second case against Adani
Sat, Oct 28, 2017

With the latest 293-page adjudication order, the two show-cause notices issued by the DRI in 2014 for alleged over-valuation of imports by Adani Group firms to the tune of Rs 5,467 crore have been dropped.

Mumbai saw drop in office space absorption in July-Sept quarter: Study
Sat, Oct 28, 2017

Overall, the study revealed, Mumbai accounted for only 10 per cent of the office space absorbed in the September quarter, below cities such as Hyderabad and Chennai.

Abdul Karim Telgi dies with Rs 190 crore I-T dues unpaid
Fri, Oct 27, 2017

While Telgi in his tax returns declared an income of a few lakh each year between 1996 and 2003, a tax tribunal in Bengaluru said in 2010 that he had accumulated “huge unaccounted sum from the racket of counterfeit stamp papers”.

In 18 states, 350 agents and 70 cities, Telgi’s sprawling empire of fake stamp paper
Fri, Oct 27, 2017

In his statements to the SIT, Telgi indicated the involvement of politicians, bureaucrats and government officials in the scam.

Pune firm chairman arrested, accused of evading Rs 6.94-crore service tax
Wed, Oct 18, 2017

DGGSTI says Madhukar Pathak’s firm indulged in fraud and suppression of taxable value

Mallya transaction with Airbus referred to RBI, ED for forex violation: Probe team
Tue, Oct 17, 2017

Kingfisher Airlines owes over Rs 9,000 crore to at least 17 lenders including SBI, IDBI Bank, Punjab National Bank, Bank of India, Bank of and United Bank of India.

Vijay Mallya firms had deals with company named in Panama Papers: Probe
Mon, Oct 16, 2017

According to the SFIO report, IQ Bridge Limited, Mauritius, and its Indian subsidiary, IQ Bridge Limited, Bangalore, controlled by Mallya and the UB Group, held 15 lakh and 52 lakh equity shares respectively in Kingfisher Airlines before its merger with Deccan Aviation.

ATM count in Maharashtra goes up by 124 from April to June
Sat, Oct 14, 2017

In the three months to June, Maharashtra added 124 ATMs out of the total 444 installed all over the country. It was outstripped by Uttar Pradesh which saw a net 186 ATMs installed in that period. The statistics are released with a one-quarter lag.

Kingfisher kept its board in dark on excess cash for F1 team: Fraud probe
Thu, Oct 12, 2017

Kingfisher did not inform its board about the sponsorship agreement despite it being a related party transaction, which is a violation of Accounting Standards, said the report.

Kingfisher tweaked its accounts to understate losses by Rs 7,151 cr: SFIO
Mon, Oct 09, 2017

By presenting better than actual financials, Kingfisher was able to obtain higher bank loans, some of which were used to meet continuing cash losses, the report alleged.

Kingfisher struck deals with board directors: SFIO report
Sun, Oct 08, 2017

The report said Mallya “roped in persons of eminence” such as Bajpai, Nanda, former India tennis star Vijay Amritraj, retired IAS officer and former Finance Secretary Piyush Mankad, and leading cardiologist Dr Naresh Trehan to make banks “believe that corporate governance was not lax in KFAL (combined)”.