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Saturday, March 28, 2020

Khushboo Narayan

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HDIL used Yes Bank loan to repay older Yes Bank loan: ED probe
Tue, Mar 17, 2020

According to sources, HDIL constructed a building in suburban Mumbai in 2015 and applied for a loan with Yes Bank in 2016 to renovate it. However, the money loaned by the bank was diverted to other group firms to repay earlier loans, the ED has alleged.

HDIL used Rs 200-crore Yes Bank loan to pay off earlier debt to lender: ED
Mon, Mar 16, 2020

The money, given to Housing Development & Infrastructure in 2016 for a project, was allegedly diverted to repay an older loan of Yes Bank to ensure the HDIL account is not classified as a non-performing asset (NPA).

Vivad se Vishwas: Govt tries to fix liability, PSUs worry about fund stress
Mon, Mar 09, 2020

This document, called ‘Joint Certification of Amount Payable’, is being signed between principal I-T commissioners and executives of the rank of chief financial officers at CPSUs.

Week after petition by Nirav Modi’s son, Supreme Court stalls auction of paintings seized by ED
Fri, Feb 28, 2020

While the Supreme Court bench led by Chief Justice of India, on Wednesday, directed Rohin Modi to approach the Bombay High Court for relief, it asked the Centre to not hold the auction till February 29.

Past records under I-T scanner, over 2 lakh NGOs, trusts set to register again
Thu, Feb 20, 2020

The whole exercise of re-validation/re-registration following the recent amendment to I-T laws has raised concern among both NGOs and the already overburdened tax officials, sources said.

Bombay HC judge recalls own order that gave Nirav Modi relief from being declared fugitive economic offender
Thu, Feb 20, 2020

Justice AM Badar, on January 6, in an ex-parte order, directed a trial court to not pass a final order against Modi on the fugitive economic offender (FEO) issue.

I-T is given a target to collect: Rs 2 lakh crore by March end
Sat, Feb 15, 2020

Originally, the Bill proposed that a taxpayer would be required to pay 100 per cent of amount of the disputed taxes and get complete waiver of interest and penalty provided he pays by March 31, 2020. Now, the Cabinet has passed this amendment to include two rates to quickly meet targets under the scheme.

DHFL diverted Rs 12,773 cr to 79 companies through 1 lakh fictitious retail customers: ED
Thu, Jan 30, 2020

According to sources, the ED stumbled upon these allegedly fictitious retail customers and the ultimate beneficiary companies while inspecting the book of accounts of DHFL pertaining to Rs 2,186 crore loan given to five companies.

Pawar kin’s firm at centre of police probe into sugar factory purchase
Wed, Jan 29, 2020

Ajit Pawar was a director in Maharashtra State Cooperative Bank from 2007 till the board was dissolved by the Reserve Bank of India in May 2011.

Mondelez India settles tax dispute under Sabka Vishwas Scheme; pays Rs 439 crore
Fri, Jan 24, 2020

The Sabka Vishwas (Legacy Dispute Resolution) Scheme, was a one-time measure for liquidation of past disputes of Central Excise and Service Tax as well as to ensure disclosure of unpaid taxes by a person eligible to make a declaration.

Cadbury tax settlement: What amnesty did the chocolate maker get, why it isn’t out of the woods yet
Thu, Jan 23, 2020

The firm, which was accused of evading taxes of about Rs 580 crore, paid Rs 439 crore on January 21, 2020 under the scheme.

Exclusive: Mondelez India settles Rs 580 crore tax dispute case under Centre’s amnesty scheme
Thu, Jan 23, 2020

Mondelez India Foods Pvt Ltd (earlier Cadbury India), accused of evading taxes of about Rs 580 crore, paid Rs 439 crore on January 21, 2020 under the amnesty scheme, sources told The Indian Express.

Court overturns clean chit to Adanis in share-rigging case
Fri, Jan 10, 2020

ASJ says magistrate erred, probe prima facie establishes unlawful gain charge

ED probe: DHFL promoter met Iqbal Mirchi in London between Mar & Aug 2010 over land deal
Thu, Dec 12, 2019

The probe into Worli land deal between Sunblink Real Estate and Mirchi has found the expenses for the London meets with Mirchi were borne by Dheeraj Wadhawan’s firms.

PMC Bank files plea for restitution of Rs 100-crore assets of HDIL promoters
Wed, Dec 11, 2019

Last week, PMC Bank moved the application before the adjudicating authority under section 8 of PMLA, which allows for restitution of assets before or during the trial in a case.

We’re making a deep-dive into books of top 50 NBFCs: RBI Guv Shaktikanta Das
Fri, Dec 06, 2019

Sanctions by NBFCs had fallen 34 per cent in the September quarter as the sector is yet overcome liquidity problems.

Bungalow, 12 other Dawood Ibrahim properties to go under the hammer
Tue, Dec 03, 2019

These properties, some of which were owned by Dawood’s family, were forfeited by SAFEMA in 1998.

DRI challenges quashing of letter rogatories by HC
Fri, Nov 22, 2019

So far, the DRI had issued 14 LRs to multiple foreign jurisdictions, such as Singapore, Hong Kong, Switzerland, UAE among others, seeking information in the alleged over-valuation in Indonesian coal imports.

ED likely to attach assets of three borrowers of IFIN
Fri, Nov 15, 2019

Sources said that the agency is looking to attach a Rs 1,000-crore plant of ABG Shipyard in Gujarat, a few properties belonging to Nikhil Gandhi-promoted SKIL Infrastructure and Viren Ahuja-promoted Flemingo Geowork. 

Bhushan Steel former promoter Neeraj Singal likely to appear before ED this week
Tue, Nov 12, 2019

Earlier this year, Singal and his father, Brij Bhushan Singal, were arrested by the Serious Fraud Investigation Office (SFIO).

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