Income Tax : CBI Files a Charge Sheet against Then DCIT & Four Others in a Bribery Case of Rs. 10 Lakhs (Approx) The Central Bureau of ...
Excise Duty : The Central Bureau of Investigation has arrested a Superintendent and an Inspector, both of Central Excise,...
Corporate Law : Government has got the Guwahati High Court Order stayed by the Supreme Court in which HC has held that CBI has no legal existence...
CA, CS, CMA : The Andhra Pradesh High Court on Wednesday posted the hearing on a bail petition moved by B Ramalinga Raju, prime accused in the m...
CA, CS, CMA : The Satyam fraud case is top priority of the government, and the investigating agency, the Serious Fraud Investigation Office (SFI...
Finance : CBI conducts searches across India in the GainBitcoin scam, seizing digital evidence and crypto wallets to trace misappropriated f...
Corporate Law : CBI dismantles a virtual asset-backed cybercrime network defrauding German nationals, arresting key accused and recovering digital...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Finance : CBI probes ₹350 crore cryptocurrency Ponzi schemes, recovering cash, digital assets, and evidence. Fraud involved unregulated de...
Custom Duty : CBI court sentences Customs Superintendent for disproportionate assets and registers a bribery case involving Customs officials at...
Corporate Law : Allahabad High Court directs CBI to furnish post-trap/arrest memo to Puneet Singh, accused in EPFO bribery case. Get detailed insi...
Corporate Law : Assessee was approached by Financial Creditor of FR Tech Innovations Private Limited (CD) for proposing the name of assessee as IR...
Corporate Law : Supreme Court directed release of appellant on bail in the event of Court chooses to remand them to custody under Prevention of Co...
Income Tax : Prosecution case is that applicant was ITO & demanded Rs.1 lakkh as bribe from partners of Brightera Builders for favourable asses...
CA, CS, CMA : Applicant, who is a qualified Chartered Accountant (CA), was arrested on 31.12.2021, whereafter he was remanded to police custody ...
Income Tax : The Special Judge, CBI Cases, Dehradun (Uttarakhand) has sentenced Shri Amrish Kumar Singh, then Income Tax Officer, Khatima, Dist...
Finance : The Central Bureau of Investigation has registered a case on a complaint received from State Bank of India against a private rice ...
Income Tax : File No. A-27023/21/2016-Ad.VI (A) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dat...
Excise Duty : As you aware that Central Bureau of Investigation is a predominantly deputationist organization, hence we keep requiring services ...
Finance : The Central Bureau of Investigation has today arrested the Director General and the then Secretary-General of organising committee...
Ramalinga Raju, former chairman of Satyam Computers, who last year confessed to have inflated his company’s assets by over $ 1 billion, was declared a pauper by a court here exempting him from paying court costs. New York judge Barabara S Jones approved ‘pauper’ status for Raju, his brother Rama Raju, Satyam’s former chief executive officer, and Srinivas Vadlamani, the company’s former head of finance.
On or about 12th January 2010, an officer in the Income Tax department, Mumbai, noticed that refunds had been issued from his jurisdiction without his knowledge or approval of his higher authorities. He immediately brought the matter to the notice of his superior officers. 2. On internal inquiry by the Income Tax department, it was found that User Ids and Passwords of certain officers had been fraudulently used to generate refunds in some cases. Upon detection of the fraud, the following actions were taken by the Income Tax department to contain the damage:-
Bank Accounts, Beneficiaries and Some Scamsters Involved in Income tax Refund Fraud in Mumbai Identified. The Central Board of Direct Taxes (CBDT) has stated that an officer in the Income Tax department, Mumbai noticed on or about 12th January, 2010 that refunds had been issued from his jurisdiction without his knowledge or approval of his higher authorities. The officer immediately brought the matter to the notice of his superior officers.
The Central Board of Direct Taxes (CBDT) has sought a detailed report from the field formation in Mumbai over the reported “income- tax refund scam” in that jurisdiction. “The Government has called for a report. We are monitoring the situation,” sources in the CBDT told today.
The CBI on Monday opposed the bail plea of Price Waterhouse auditor Mr Srinivas Talluri who was arrested in Satyam fraud case for allegedly conniving with its founder Mr B Ramalinga Raju and other aides. Additional Solicitor General, Mr Harin Raval told a Bench headed by the Chief Justice, Mr K G Balakrishnan that Mr Talluri was part of the conspiracy in the entire fraud.
A local court in Hyderabad adjourned on Wednesday framing of charges against multi-crore Satyam case accused, including IT firm’s former chairman B Ramalinga Raju ,to January 20. The case relating to hearing of framing of charges was pending in the XIV additional chief metropolitan magistrate as defence counsels had urged the court to hand over the documents relating to supplementary charge-sheet after its physical verification with original documents.
The mammoth fraud at IT major Satyam, involving over Rs 14,000 crore as per CBI, proved to be the most brazen swindling act, forcing the government to re-write corporate governance rules during 2009 and tighten the norms for chartered accountants. While the investigating agencies had a tough time going through voluminous documents to get to the extent of the scam and uncover the modus-operandi of the fraud, disclosed by the company’s founder and then chief B Ramalinga Raju himself in January, it could still take quite some time for the courts to punish the guilty.
Further, it has been noticed that enforcement agencies like CBI, Police, Crime Branch etc. have been collecting copies of the various records/documents during the course of their investigation. The originals of such documents maintained either in physical or in electronic form or in both would be required by such enforcement agencies during trial of the case also. In view of the above, it is clarified that if a copy is taken by such enforcement agency either from physical or electronic record then the respective original is to be maintained till the trial or investigation proceedings have concluded.
Further, as per regulation 18 of SEBI (Stock Brokers & Sub-brokers) Regulations, 1992 (hereinafter referred to as Stock Broker Regulations), every stock broker shall preserve the specified books of account and other records for a minimum period of five years. In case such documents are maintained in electronic form, provisions of Information Technology Act, 2000 in this regard shall be complied with.
The Central Bureau of Investigation (CBI), which is probing the multi-crore Satyam accounting fraud, has given a clean chit to PricewaterhouseCoop ers (PwC), the firm’s erstwhile statutory auditors. The CBI, in its supplementary chargesheet filed on November 24 at the XIV Additional Chief Metropolitan Magistrate Court, revealed that the auditors S Gopalkrishnan and Srinivas Talluri, were employees of Lovelock & Lewes (L&L) and that the remuneration, which Satyam paid to the auditors, reached the accounts of L&L instead of PwC, which was appointed as the statutory auditor in 2001.
