Khushboo Narayan

Articles By Khushboo Narayan

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.

SFIO asks RBI to probe its NBFC wing for ignoring adverse audit

Almost five years ago, the RBI had, in its annual audit, found that IL&FS Financial Services was borrowing to fund its group companies.

IL&FS crisis: Fraud office probes role of 4 credit rating agencies

Officials of these four agencies — Care Ratings Ltd, ICRA Ltd, India Ratings and Research Pvt Ltd and Brickwork Ratings India Pvt Ltd — have been summoned and questioned by the SFIO in the last one month on their role in rating the debt papers of IFIN between 2014 and 2018.

Pushing dodgy deals, burying facts: ICICI Bank official red flags ignored

This official requested his colleagues to delete that mail after reading but an executive director of ICICI Bank, who was one of the recipients, forwarded it to Chanda Kochhar suggesting that such analysis and mails can “freeze” the organisation.

Exclusive: Probe records show Chanda Kochhar ‘misled’ RBI on giving loan to Essar firm

The RBI claimed that the bank’s approval to extend the commencement time of the pellet project indicated “ever-greening” of loans — the bank was lending a second time to pay off an earlier loan.

Luxury cars of Nirav Modi, Mehul Choksi receive bids of Rs 3.29 crore

The overall value of bids is over 9 per cent higher than the total base price of the cars fixed at Rs 3.01 crore.

The cases against Vijay Mallya

The businessman is under investigation by multiple agencies, and faces charges of cheating, criminal conspiracy, money laundering and diversion of loan funds. He has denied wrongdoing.

Dutch officials allege money laundering linked to Reliance promoter group

Strongly deny any suggestion of impropriety, full compliance of rules: RTGIL, now East West Pipeline

After PNB fraud case, Nirav Modi ‘moved’ Rs 89 crore from Singapore to Zurich

India has sought Modi’s extradition for alleged “high value and sophisticated” fraud and money laundering.

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