citibank

The Enforcement Directorate will soon file a case of money laundering in connection with the Rs 400 crore fraud allegedly perpetrated by a Citibank employee. Official sources said the Directorate, which has studied the details of the police FIR in Full Article

The Enforcement Directorate has sought a copy of the FIR filed by the police on the Rs 400 crore Citibank fraud with a view to lodge a separate case of money laundering against the perpetrators of the scam. Official sources said the directorate has Full Article

The alleged mastermind of Rs 300 crore Citibank fraud, Shivraj Puri, invested most of the funds raised from corporate entities and high networth individuals in derivative instruments in stock markets. Full Article

: A senior executive of the Hero Group was arrested by Gurgaon police on Monday as the investigative net on the Rs. 300 crore fraud at the local branch of Citibank was cast wider. The arrest of Sanjay Gupta, associate vice-president of Hero Corporate Full Article

The Central Board of Excise and Customs (CBEC) has issued show-cause notices to Citibank NA and Kingfisher Airlines Ltd for not paying service tax related to their sponsorship of the Indian Premier League (IPL), according to two officials familiar wi Full Article

Banks may soon have to cap the charges on basic services such as issuing a draft, remittances or for stop-payment instructions. Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India (RBI) has asked the Indian Banks’ Association (IBA) to come up with guidelines on what the reasonable charges should be. Full Article

NEW DELHI: The I-T authorities have slapped a tax liability of Rs 300-400 crore on realty leader DLF over what they called understatement of income and fund diversion by the company. The liability was raised after a special audit by the Income Tax department in the accounts of DLF for the year 2005-06.  With the kind of [...] Full Article