Khushboo Narayan

Articles By Khushboo Narayan

Interpol issues Red Notice against Nirav Modi’s brother Nehal

Nehal Modi, in his appeal to the Interpol commission, had said that he will not get a fair trial if he is extradited to India. He said he had “no institutional ties” with Nirav Modi’s companies and the sale of 50 kg gold of a liquidated firm was “legal”.

PNB scam: Interpol issues Red Corner Notice to Nirav Modi’s brother Nehal

Earlier this year, the ED had requested the Interpol to issue a Red Notice against Nehal for his role in helping Nirav Modi. It found Nehal "knowingly and intentionally" assisted Nirav in concealing the alleged laundering of money and "destroying evidence".

Satyam Computer case: SAT overturns SEBI ban order on Price Waterhouse

The tribunal said that only Institute of Chartered Account-ants of India (ICAI), the apex body of auditors, can take any action against its members, adding that fraud cannot be proved on the basis of negligence in auditing.

‘IL&FS official routed funds to subsidiary, took commission’

In April this year, Bhatia was elevated to the post of CEO at ITNL by the new board of IL&FS headed by banker Uday Kotak. Bhatia was the Chief Financial Officer (CFO) at ITNL before the collapse of the IL&FS Group.

Mumbai: Venezuelan national held with 796 gm of cocaine in her stomach

The agency has found that Karendralenny, a former Venezuelan soldier, became a drug mule after a Nigerian national contacted her on Facebook in February and offered her $5,000 to smuggle about 1,000 gm of cocaine to India.

RBI cuts rate by 35 basis points, cites concerns over growth

This is the fourth consecutive cut this year, bringing down the repo rate — the rate at which the RBI lends funds to banks — by a total of 110 basis points from 6.50 per cent.

Ex-aide under probe for routing funds via overseas firm to Vijay Mallya

A complaint filed by a whistleblower alleged that Ultimate Branding is getting commission from UBL for “getting business” and also “getting significant margins in USD in trading of Kingfisher beer in international markets via front companies”.

SBI consortium gave loan to Sterling Group three years after own subsidiary flagged default

The decision to lend to a Sterling Group company in 2015 by the SBI-led consortium has come under the scanner of investigating agencies because the RBI norms mandate that no new credit facilities can be given to promoters and companies who are on the list of wilful defaulters.

IL&FS looks for new law firm after conflict of interest complaint

The complaint alleged that CAM was legal adviser to the former board of IL&FS, which is facing criminal and legal action by government agencies, and continues to perform that role for the new board, too. 

SC upholds detention of gold smuggling racket ‘kingpin’

The case was lodged in connection with DRI’s investigations into smuggling of gold from the UAE to India. 

‘Going to court is like going to a graveyard’: A day in the life of an NCLT courtroom, Fort, Mumbai

Since January 2017, National Company Law Tribunal, the adjudicating authority for bankruptcy and corporate cases, has admitted 1,858 cases and managed closure in little over a half. No surprise then that ‘judicial members’ usually have one advice: settle

Mehul Choksi’s latest: Typhoon in Antigua delayed courier, letter to court

Choksi, who took up citizenship of Antigua and Barbuda in June last year and currently resides there, moved the Bombay High Court on July 4, requesting it to pardon the delay and admit his appeal.

CBDT wants I-T dept to recover Rs 5.11 lakh crore tax arrears this fiscal

The total outstanding tax demand arrears of the I-T department stands at Rs 12.77 lakh crore as on April up over 14 per cent from a year ago.

Union Budget 2019: Startups get breather over angel tax scrutiny

Sitharaman said startups and their investors who file requisite declaration and provide information in their returns will not be subjected to any kind of income tax scrutiny in respect of valuations of share premiums.

Mumbai: Fearing oil spill, BPT & JNPT seek removal of 13 vessels

Both BPT and JNPT have particularly indicated the potential navigation issues and environment hazard as at least two of these oil vessels — TAG 6 and TAG 22 — are lying tangled in the sea.

Coal imports: Directorate of Revenue Intelligence asks CBI to probe two Reliance ADAG firms

The DRI is probing at least 40 companies, including two companies of the Adani Group, two Essar Group firms and a few public sector power firms, for alleged overvaluation of coal imports from Indonesia pegged at Rs 29,000 crore.

RBI to DRI: We can’t ask banks to share customer information

The banking regulator’s response followed a request by the Directorate of Revenue Intelligence (DRI), which sought RBI’s assistance in obtaining information from two state-owned banks on the alleged Rs 29,000-crore overvaluation of coal imports from Indonesia by Indian companies, including the Adani Group, ADAG and Essar Group among others.

Adani firm trying to impede our probe, DRI tells Bombay HC

A LR is a formal request from one country to another under the Mutual Legal Assistance Treaty (MLAT) seeking judicial assistance in accessing information on an offshore entity in connection with an ongoing probe.

DRI order against ABG Shipyard overturned by customs tribunal

Incidentally, the tribunal set aside the crucial order of the revenue department even though the two main accused in the case -- ABG Shipyard and its promoter -- have not appealed against the DRI order in the tribunal.

ED moves NCLT to stop liquidation of Winsome Diamonds

Winsome Diamonds promoted by Jatin Mehta and its subsidiaries owe nearly Rs 10,000 crore including interest to a consortium of 15 banks led by Standard Chartered and Punjab National Bank.

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