Central Bureau of Investigation raids continue

.story-content span .story-content p .story-content div color:#000!important;font-family: open sans Arial!important;font-size:15px!important ALSO READ INX Media case: CBI detains Karti Chidambaram for manipulating tax probe INX Media case: Karti Chidambaram arrested by CBI in Chennai say reports Aircel-Maxis INX Media cases: ED raiding Karti s kin in Chennai Kolkata INX Media case: Two of India s former regulators may come under CBI lens span.p-content div id = div-gpt line-height:0;font-size:0 Delhi s Patiala House Court on Wednesday sent Karti Chidambaram to one-day police custody after Central Bureau of Investigation (CBI) claimed his custodial interrogation was needed to unearth the conspiracy on the basis of confessional statements of INX Media Limited directors Peter and Indrani Mukerjea. The Mukerjeas alleged that they paid 700 000 to Karti on the instructions of his father former Finance Minister P Chidambaram https://app.hiive.co.uk/profile/4ff698e1-3e28-43e1-9d2d-ca00fbd05308/ as quid pro quo for an FIPB clearance officials said. The statements of the Mukerjeas were recorded by the Enforcement Directorate (ED) which is probing the money laundering angle in the case while the CBI had only recorded Indrani s statement before a magistrate as per section 164 of the CrPC they said. Earlier in the day CBI sought a 15-day judicial custody after producing Karti before Metropolitan Magistrate Sumeet Anand. His father former Finance Minister P Chidambaram was not available for comments. However he had earlier denied the involvement of his son in any case. Senior Congress leader and advocate Abhishekh Manu Singhvi who is representing Karti in court on Wednesday raised question over his sudden arrest at a time when the Centre is facing flak over the PNB scam involving businessman Nirav Modi. Karti was detained at the Chennai Airport on Wednesday and after the necessary formalities were completed he was put on a domestic flight to the national capital. The case relates to the approval given by the Foreign Investment Promotion Board (FIPB) for the receipt of funds by INX Media which took place while Karti s father P Chidambaram was the Union finance minister. CBI has alleged that the Foreign Exchange Management Act (Fema) was violated. The Chidambarams however have denied all charges made against them. The Congress has called Karti s arrest a vendetta and a diversionary tactic . The BJP for its part has said that this is the law. Here are the top 10 developments around Karti Chidambaram and the INX Media case: 1) CBI gets one-day custody: Karti Chidambaram arrested in connection with the INX Media case was on Wednesday sent to one-day CBI custody by a Delhi court after the agency claimed his custodial interrogation was needed to unearth the conspiracy over alleged payment of 1 million bribe to him by the media company through foreign entities. Karti was arrested on the basis of confessional statements of INX Media Limited directors Peter and Indrani Mukerjea alleging that they paid 700 000 to him on the instructions of his father P ChidaChidambaramquid pro quo for a FIPB clearance officials said. The statements of the Mukerjeas were recorded by the Enforcement Directorate (ED) which is probing the money laundering angle in the case while the CBI had only recorded Indrani s statement before a magistrate as per section 164 of the CrPC they said. In the statement under this section which is like a confessional statement before a judicial magistrate Indrani has stated that she and her husband Peter Mukerjea had acceded to Karti s demand of one million dollars for allegedly fixing the violations done in the FIPB clearance. Indrani they said had confirmed in her statement to the CBI and ED that a payment of 700 000 was made to the bank accounts of overseas firms linked to Karti. During the proceedings CBI prosecutor V K Sharma told the court that Indrani s statement under section 164 CrPC was recorded before a magistrate on February 17 in which she told the magistrate that in a meeting at a five-star hotel here she and Peter met Karti and he demanded 1 million. The money was later paid by Peter on behalf of INX Media through off-shore entities and it is being investigated the CBI claimed adding this was done to fix the violations done in FIPB clearance . The prosecutor said Karti was needed to be quizzed to unearth the total conspiracy and claimed he was not cooperating in the probe and was repeatedly travelling abroad which confirmed apprehensions that he will flee from India. #INXMediaCase : Delhi s Patiala House Court sends #KartiChidambaram to 1 day police custody pic.twitter.com/7gXx3Gmgwu ANI (@ANI) February 28 2018 The CBI earlier in remand application on Wednesday asked for 15-day custody of Karti Chidambaram. INX Media case: CBI in remand application seeks 15-days custody of #KartiChidambaram ANI (@ANI) February 28 2018 INX Media case: Earlier Indrani Mukherjea gave statement to CBI that #KartiChidambaram asked for 1 Million dollars for FIPB clearance and on this ground CBI seeks custody of Karti. ANI (@ANI) February 28 2018 2) Karti Chidambaram produced before Patiala House Court: Karti Chidambaram on Wednesday was produced before Delhi s Patiala House Court after being flown to the capital from Chennai where the CBI had arrested him. Karti was produced before Metropolitan Magistrate Sumeet Anand who allowed the request of his lawyers to have an interaction with the accused inside the court room. The court allowed Karti and his lawyers to interact for 10 minutes after which the proceedings resumed. Karti Chidambaram being taken to Delhi s Patiala House Court he was taken into custody by CBI earlier today in connection with the INX media case. pic.twitter.com/tOOwNVX8mh ANI (@ANI) February 28 2018 3) Congress leader Abhishek Manu Singhvi to represent Karti: Congress leader and senior advocate appeared for Karti Chidambaram. Singhvi on Wednesday raised question over the sudden arrest of the former Union Finance Minister P Chidambaram s son Karti Chidambaram. Singhvi who represented Karti in court in the INX media case pointed out that his arrest has come at a time when the Centre is facing flak over the PNB scam involving businessman Nirav Modi. According to ANI Singhvi said the arrest is motivated and there hasn t been given a single summon in past 6 months. Abhishek Manu Singhvi tells Court that it is most bizarre case against #KartiChidambaram by CBI. The arrest is motivated. He hasn t been given a single summon in last 6 months & allegations made by CBI that he is not cooperating when no summon has been issued after August 2017. ANI (@ANI) February 28 2018 Sitting in CBI designated court room 4 at patiala Hs since 2 pm 2oppose Karti C remand but CBI not produced him yet. Hope they r not waiting for a late evening hearing. Why the delay? They landed frm chennai at 120 pm. No cause for this xcept to go to duty magis post 430 pm. Abhishek Singhvi (@DrAMSinghvi) February 28 2018 4) P Chidambaram s premonition of Karti s arrest: Senior Congress leader P Chidambaram appeared to have a premonition of the arrest of his son Karti when he filed a petition recently in the Supreme Court apprehending continued harassment to him and his family members. Chidambaram who has been closely monitoring the case of his son in the Supreme Court which is argued by his party colleague and senior advocate Kapil Sibal had sprung a surprise last week by filing a petition on his own accusing the CBI and the Enforcement Directorate (ED) of carrying out a political vendetta against him and his family. In his petition Chidambaram has sought the apex court s direction prohibiting the CBI and ED from continuing their illegal investigations and from acting in any manner causing repeated harassment to him and his family members including his son. 5)Karti s CA moves bail plea: Karti Chidambaram s chartered accountant S Bhaskararaman arrested in the INX Media money laundering case has moved a plea seeking bail before a Delhi court which is likely to hear it on Thursday. The application filed by Bhaskararaman who is presently in judicial custody was filed before Special Judge Sunil Rana seeking bail on the ground that he was not required for custodial interrogation and no purpose would be served by keeping him in custody. The CA was sent to jail on February 26 on expiry of his custodial interrogation by the Enforcement Directorate (ED) which had arrested him on February 16 from a five-star hotel in the heart of the national capital. 6) CBI to use Indrani Mukerjea s confession: CBI sources told news agencies that the probe agency will inform the court about Indrani Mukerjea s alleged confession that in 2007 the Mukerjea couple took help of Chess Management Service once their application for FIPB clearance of Rs 3.05 billion (Rs 305 crore) was rejected. The sources added that the FIPB allowed only Rs 50 million (Rs 5 crore) clearance. The CBI sources added that once Chess Management was hired and rules were made for Karti s services . Further Karti s management company was paid Rs 1 million (Rs 10 lakh). This according to the sources would be the focus of the remand application. CBI will inform Court about Indrani Mukerjea s alleged confession that in 07 the couple took help of Chess Management Service once their application for FIPB clearance of Rs 305Cr was rejected. FIPB allowed only Rs 5 Cr clearance : CBI Sources #KartiChidambram ANI (@ANI) February 28 2018 Once Chess Management was hired rules were made for his services Karti management company was paid Rs 10 lakh. This will be the focus of remand application: CBI Sources ANI (@ANI) February 28 2018 7) BJP says this is law not a vendetta: Reacting to Karti Chidambaram being taken into CBI custody BJP s Sambit Patra said this was about the law and not vendetta. I believe no one should consider oneself above the law of country. If corrupt are being jailed and law is taking its own course I see no reason why any political party should cry vendetta Patra said. I believe no one should consider oneself above the law of country. If corrupt are being jailed & law is taking its own course I see no reason why any political party should cry vendetta. This is law not vendetta: Sambit Patra BJP on Karti Chidambaram being taken into CBI custody pic.twitter.com/eJkeDo30Kq ANI (@ANI) February 28 2018 8) Congress won t be deterred : Reacting to Karti Chidambaram being taken into custody by the CBI Congress leader Randeep Surjewala said the party would not be deterred by unleashing of a vendetta against P Chidambaram and his family. We will continue to bring out the truth Surjewala added. Congress will not be deterred by unleashing of vendetta against P. Chidambaram & his family we will continue to bring out the truth: Randeep Surjewala Congress on Karti Chidambaram being taken in custody by CBI pic.twitter.com/59EwyQdLHU ANI (@ANI) February 28 2018 Senior lawyer Prashant Bhushan said while the CBI might have evidence against Karti there was no justification to arrest him during investigation without a chargesheet being filed as there was no danger he would flee the country. Though CBI may have evidence against Karti Chidambaram yet there s no justification to arrest him during investigation without a charge sheet since there is no danger of his fleeing the country. This show while big fish like NiMo MehulBhai &Mallya are allowed to loot & scoot Prashant Bhushan (@pbhushan1) February 28 2018 Mr Karti Chidambaram was arrested when he landed at Chennai airport he was not trying to escape from India like Nirav Modi then arresting him on his arrival at airport is funny. Karti Chidambaram was cooperating the CBI the CBI could have summoned him. Ashok Gehlot (@ashokgehlot51) February 28 2018 ALSO READ: INX Media PMLA case: Karti Chidambaram appears before ED for questioning 9) Karti was under ED scanner too: On February 23 it was reported that the Supreme Court refused to interfere with the summons issued by the ED against Karti in the INX Media case. The apex court had asked him to appear before it on March 1. Refusing to interfere with the ED s summons the Bench of Chief Justice Dipak Misra Justice Amitava Roy and Justice D Y Chandrachud had however adjourned the hearing until March 6. The Bench had permitted Karti to make a representation to the ED seeking more time to appear before it. Earlier Karti had been questioned by the ED which had summoned him on February 2 after which he had informed the agency that he would be unable to depose as he had an interlocutory application pending in the Supreme Court in this case says reports. ALSO READ: Aircel- Maxis case: ED raids Karti Chidambaram s premises in Delhi Chennai 10) Raids and hours of grilling: On February 16 it was reported that the ED carried out fresh searches against people allegedly linked to Karti in connection with the INX Media case. Officials had told news agencies that the raids were conducted at three premises in Chennai under provisions of the Prevention of Money Laundering Act (PMLA) the anti-money laundering law. The officials added that the searches were carried out against people allegedly linked to Karti. On February 15 the ED had questioned Karti for over 10 hours in Delhi. ALSO READ: Aircel-Maxis case: Karti Chidambaram moves SC against CBI summon The CBI and ED cases: The CBI had filed an FIR on May 15 last year alleging irregularities in the FIPB clearance to INX Media for receiving funds from abroad to the tune of Rs 3.05 billion (Rs 305 crore) in 2007 when senior Chidambaram was the Union finance minister. It is alleged that Karti received funds to the tune of Rs 1 million (Rs 10 lakh) in the case they said. The CBI is also probing the alleged irregularities in grant of FIPB clearance to the Aircel-Maxis deal in 2006. The ED had registered a money laundering case against Karti and others in May of 2017. It registered an Enforcement Case Information Report (ECIR) the probe agency s equivalent of a police FIR against the accused who were also named in a CBI complaint including Karti INX Media and its directors -- Peter and Indrani Mukerjea. The ECIR was lodged under the provisions of the Prevention of Money Laundering Act. The central probe agency has been probing the alleged proceeds of crime generated in this case. It was the ED that had provided information about the alleged illegal payments made by INX Media based on which the CBI had filed its FIR. The ED has alleged that INX Media deliberately and in violation of the conditions of the approval made a downstream investment of 26 per cent in the capital of INX News Pvt Ltd without specific approval of FIPB. This included indirect foreign investment by some foreign investors. This generated Rs 3.05 billion (Rs 305 crore) foreign direct investment in INX Media Pvt Ltd against the approved foreign inflow of Rs 46.2 million (Rs 4.62 crore). The ED further alleged that INX Media entered into a criminal conspiracy with Karti to wriggle out of the situation without any punitive action. Moreover the agency alleged that the finance ministry s FIPB unit had not only granted an illegal approval but also misinformed the Income Tax Department s investigation wing. With agency inputs
NEW DELHI: ICICI Bank does not have any exposure to Nirav Modi group of companies but was working capital lenders to the Gitanjali group of companies along with several other banks in the consortium the bank has said in a statement.The statement comes after the Central Bureau of Investigation said it had questioned former Punjab National Bank (PNB) Managing Director Usha Ananthasubramanian who is currently Allahabad Bank CEO and ICICI Bank Executive Director NS Kanan as part of its probe into diamond trader Nirav Modi his uncle Mehul Choksi and others in connection with a multi-crore bank fraud.Mr Kanan was questioned because ICICI Bank leads a consortium of 31 banks that lent money to Mehul Choksi s Gitanjali Group CBI officials said emphasising that the senior official of ICICI Bank which lent Rs 773 crore to Gitanjali in 2016 is only being questioned for clarifications and not as an accused in the fraud case.The bank statement underlined that its exposure to these companies was limited. We have not issued any Letter of Undertaking (LOU) nor do we have any buyer s credit exposure against LOUs with respect to the Nirav Modi group of companies as well as the Gitanjali group of companies it said. CommentsClose X ICICI Bank which is the lead banker to Gitanjali Group loans said We are working capital lenders to the Gitanjali group of companies along with several other banks in the consortium.
NEW DELHI: The Central Bureau of Investigation (CBI) on Wednesday registered a case of bank fraud worth Rs 515.15 crores against RP Infosystem and its directors reported news agency ANI. An FIR has been lodged against the company s directors Shivaji Panja Kaustuv Ray Vinay Bafna vice-president (Finance) Debnath Pal and unknown bank officials. The case has been registered under sections 120B (criminal conspiracy) read with 420 (cheating) 468 and 471 (both related to forgery) of the IPC and the criminal misconduct by a public servant. CBI registered a case of bank fraud worth Rs 515.15 crores against RP Infosystem & its directors. (Visuals from RP https://t.co/MndJhX2Tpo ANI (@ANI) 1519814705000 In June 2017 according to reports Panja was booked along with his two colleagues and his company RP Infosystems for allegedly cheating IDBI Bank to the tune of Rs 180.44 crore. The company is located in West Bengal s Kolkata. (With ANI inputs)
WhatsApp Messenger is a free cross-platform end-to-end encrypted instant messaging app available for Android and other smartphones. It uses phone s Internet connection (4G/3G/2G/EDGE or Wi-Fi as available) to make voice calls one to one video calls; send text messages documents PDF files images GIF videos user location audio files phone contacts and voice notes to other users using standard cellular mobile numbers. WhatsApp was incorporated in 2009 by Brian Acton and Jan Koum both former employees of Yahoo!. WhatsApp Inc. based in Mountain View California was acquired by Facebook in February 2014 for approximately US 19.3 billion.WhatsApp is these days working on a new feature that will allow users to stream YouTube within the app itself. Presently the video links sent from YouTube open and take over the entire screen and launch the YouTube app. The new update will now allow users instead of shifting completely from one app to the other view the shared YouTube videos in picture-in picture-out mode inside the Whatsapp chats.As on July 19 2017 China partially blocked the popular messaging service as authorities tightened their grip on the internet ahead of a major leadership reshuffle in Beijing.On August 11 2017 WhatsApp rolled out a new update which lets users add a colourful background to text status. The functionality is similar to the one on Facebook where a selection of background color options pops up when typing a new status update.
NEW DELHI: The Central Bureau of Investigation has registered a case against Ghaziabad-based Simbhaoli Sugars on charges of causing a loss of about Rs110 crore to state-run Oriental Bank of Commerce. Ghaziabad-based Simbhaoli Sugars its directors CEO CFO unknown bank officials and other private persons have been booked by the agency on charges of cheating criminal conspiracy and under sections of the Prevention of Corruption Act. The bank said it had sanctioned a loan of Rs 148.60 crore to the company in 2011 under an RBI scheme for financing individual/joint liability groups (JLG)/self help groups (SHG)/of 5 762 sugarcane farmers supplying sugar produce to the company between January 25 and March 13 2012. OBC said the company dishonestly and fraudulently diverted the loan for its own needs. The account according to the complaint turned NPA on March 31 2015. The bank classified the account as fraud on May 13 2015. The amount of fraud was pegged at Rs 97.85 crore. It was further alleged that in addition to the existing NPA the bank under multiple banking arrangements sanctioned another corporate loan of Rs 110 crore to the sugar company on January 28 2015 to pay its outstanding loan of Rs 97.85 crore. The bank also adjusted the total liability of the company on June 30 2016 by way of deposit of this new corporate loan. The corporate loan too turned NPA on November 29 2016 thus resulting in its first outstanding loan of Rs 97.85 crore (as alleged fraud) and the fresh corporate loan of Rs 109.08 crore (as fresh outstanding). On Sunday the CBI conducted searches at eight premises including residences of company directors its factories corporate and registered offices in Delhi Hapur and Noida.
Mumbai: The Central Bureau of Investigation (CBI) on Monday sealed the Brady House Branch of the Punjab National Bank in Mumbai as multiple probe agencies continue their probe into the Rs 11 515 crore fraud according to officials.The CBI pasted an official notice outside the branch in Fort -- the bank s flagship lending window in Mumbai and its second largest national outlet.All have been barred from opening or entering inside this branch without prior permission of the CBI or the CBI Special Court or the CBI Competent Authority.Accordingly all operations at the Brady House Branch came to a grinding halt and several bewildered staffers were seen waiting outside it for further orders from their bosses.The action came two days after the Special CBI Court in Mumbai remanded to police custody till March 3 three accused in the PNB fraud including two former staffers.The accused includes retired PNB Deputy Manager Gokulnath Shetty Single Window Operator Manoj Kharat and authorized signatory of the prime accused Nirav Modi s group companies Hemant Bhatt.The three were the very first arrests to be in the sensational case so far by the CBI from different parts of Mumbai and Raigad. More arrests are expected soon officials have indicated.Besides these the CBI earlier named 10 other directors and officials as accused in the scam which has created a nationwide furore.The prime accused diamond trader Nirav Modi and other associates fled the country in early January before the massive financial fraud came to light. CommentsClose X The multi-pronged action by the CBI Enforcement Directorate and others comes five days after PNB admitted to unearthing a fraud amounting to Rs 11 515 crore involving Mr Modi s companies and certain other accounts in the Brady House Branch.The fraud which includes money-laundering among others concerns the Firestar Diamonds group in which the CBI last week booked Nirav Modi his wife Ami brother Nishal Modi and Mehul Choksi.
A CBI court on Friday sent Rotomac owner Vikram Kothari and his son Rahul to one-day transit remand while the Income Tax department seized 12 bank accounts of the group and issued six prosecution against the businessman in connection with the Rs 3 695 crore loan default. Additional Chief Metropolitan Magistrate Samar Vishal at the Patiala House courts passed an order for a day s remand after the Central Bureau of Investigation (CBI) sought a two-day transit remand to take the father and son to Lucknow. The duo will be produced before the court concerned in Lucknow on Saturday. Kothari and his son were arrested on Thursday for alleged default on loan repayment after their four-day consecutive questioning since the CBI filed the case against them and raided their residential and office premises in Uttar Pradesh s Kanpur. Defence advocate Pramod Kumar Dubey had raised objections to the jurisdiction of the court saying the accused should be produced before a sessions court and not before a magisterial court. The court then reserved its order till 2 p.m. on the issue of jurisdiction. Meanwhile an Income Tax department official said over 12 more bank accounts of the Rotomac Group Pvt Ltd have been attached in addition to the 14 bank accounts attached earlier and that six prosecutions have been sanctioned against Kothari. The agency filed the FIR on Sunday night after getting a complaint against Kothari his wife Sadhana and son Rahul from the Bank of Baroda. Kothari is the Chairman and Managing Director of Rotomac while his wife and son are Directors. Kothari had obtained Rs 2 919 crore from Bank of India (Rs 754.77 crore) Bank of Baroda (Rs 456.63 crore) Indian Overseas Bank (Rs 771.07 crore) Union Bank of India (Rs 458.95 crore) Allahabad Bank (Rs 330.68 crore) Bank of Maharashtra (Rs 49.82 crore) and Oriental Bank of Commerce (Rs 97.47 crore) the FIR said. Kothari his wife son firm Rotomac some unidentified bank officials and private persons were booked on charges of criminal conspiracy cheating and forgery under the Indian Penal Code and Prevention of Corruption Act. The Bank of Baroda complaint said that the banks had extended credit to the Kanpur-based firm and its related companies from 2008 onwards. The CBI had earlier confiscated several belongings of Kothari and his family including laptops and mobile phones.
NEW DELHI: Stung by the fraud at Punjab National Bank and more such cases being unearthed at other lenders the government has ordered all state-run banks to examine non-performing loans of more than Rs 50 crore for any sign of similar wrongdoing. They have been given 15 days to prepare a pre-emptive action plan to address risks. This raises the prospect of investigations in high-profile bankruptcy cases that are undergoing resolution putting their promoters under the scanner if any scams are uncovered. The directive comes a day after PNB revised its estimate of the fraud involving jewellers Nirav Modi and Mehul Choksi and their companies to Rs 12 622 crore from Rs 11 300 crore earlier. The finance ministry in its note on Commitment to Clean and Responsive Banking called on banks to inform investigative agencies such as the Central Bureau of Investigation (CBI) Enforcement Directorate (ED) and Directorate of Revenue Intelligence (DRI) if any wrongdoing was detected. PSB (public sector bank) MDs (managing directors) directed to detect bank frauds & consequential wilful default in time & refer cases to CBI. To examine all NPA (non-performing asset) accounts Rs 50Cr for possible fraud department of financial services secretary Rajeev Kumar tweeted. All frauds identified thus far have to be examined to see if there have been any wilful defaults as well and referred to the investigating agencies. Scrutiny to Include Cases Under IBC Involve ED/DRI for PMLA/FEMA/EXIM violations if any Kumar said referring to Prevention of Money Laundering Foreign Exchange Management Act and export-import legislation. Gross NPAs at state-run banks stood at Rs 7.33 lakh crore at the end of September 2017. The scrutiny will include the existing 41 cases being dealt with through the Insolvency and Bankruptcy Code (IBC) a senior finance ministry official said. The investigations will not have any impact on the resolution process followed through IBC but if the promoters are found guilty strictest action will be taken against them under existing laws he said. Under the framework for timely detection reporting investigation of large value bank frauds banks have been directed to seek borrower status reports from the Central Economic Intelligence Bureau (CEIB) on accounts turning into NPAs. The agency will revert in a week. https://www.sparkfun.com/users/1275632 The chief vigilance officers of banks are to vet complaints and coordinate with CBI on frauds exceeding Rs 50 crore. Besides banks have been told to take prompt action within the prescribed deadlines. Earlier this week CBI registered a case against UP-based Simbhaoli Sugars on charges of causing a loss of about Rs 110 crore to Oriental Bank of Commerce. RISK FRAMEWORK State-run banks have been asked to set up a group comprising executive directors and chief technology officers to prepare a blueprint to enhance preparedness to cover operational and technological risks within 15 days. Bank boards have been asked to assign clear accountability to senior functionaries for implementation and compliance with this framework. The framework needs to incorporate best practices from across the banking sector identify weaknesses in existing arrangements compare operational risk management with best practices and identify gaps and areas for improvement. The group has to suggest clear action points including technological solutions. Kumar tweeted: 15 day deadline for PSBs to take pre-emptive action & identify gaps/Weaknesses to gear up for rising Ops & Tech risks; To learn from best practices & pinpoint strategies including tech solutions; Clear accountability of senior functionaries. The effort is part of the Enhanced Access and Service Excellence (EASE) programme announced earlier.