Finance : The paper shows that loan fraud persists due to enforcement failures, not lack of legal provisions. It highlights delays in detect...
CA, CS, CMA : This article explains how forensic accounting has exposed major corporate frauds that escaped traditional audits. The key takeaway...
Corporate Law : This explains how courts can order the release of money seized or frozen during cyber-fraud investigations. The key takeaway is th...
Corporate Law : Explore the methods forensic auditors use to detect financial fraud, from red flags to data analytics, and their critical role i...
CA, CS, CMA : Examine recent accounting frauds in India, their root causes, and the corrective actions taken by professional bodies, government,...
Fema / RBI : The government informed Parliament about measures taken with RBI and other agencies to identify and block illegal loan apps operat...
Finance : Government responds to rising QR code frauds, highlighting initiatives and awareness campaigns to safeguard digital payments in ru...
Corporate Law : SFIO investigates three EV companies for Rs. 297 crore subsidy fraud under FAME-II. Alleged violations include importing restricte...
Corporate Law : SFIO investigates 36 corporate fraud cases in the past 3 years, with 41 cases filed and 25 convictions. MRAU enhances fraud detect...
Corporate Law : Delhi Police Cyber Crime & CEIB warn against fake emails alleging child pornography & cyber crimes. Stay vigilant & report any sus...
Income Tax : Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section...
Goods and Services Tax : Supreme Court's ruling in Sheetal Mittal vs. State of Rajasthan, where anticipatory bail was denied due to fabricated GST number a...
Corporate Law : HC held that domain name https://india-mart.co/ shall be immediately blocked. MeitY/DoT to issue blocking orders within 24 hours f...
CA, CS, CMA : Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the A...
CA, CS, CMA : CBI Vs. Devendra Chaturvedi (Special Court for CBI at Greater Bombay) In nutshell, it is the allegation against accused that they ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Fema / RBI : Fraudsters attempt to get confidential details like user id, login / transaction password, OTP (one time password), debit / credit...
Fema / RBI : It is reiterated that all Concurrent Auditors are required to:- To cross verify that all outbound SWIFT messages vis-a-vis their c...
Fema / RBI : There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab Nat...
We all are still in disbelief mood as far as cash & bank balance fraud is concerned. Although there is no confirmed news, but the information gathered from some of sources of the investigating agencies (ICAI, SEBI etc.) are as under:
M/s. Pashupathi Traders, Secunderabad, filed 8 Shipping Bills, all dated 03rd January, 2001 declaring the goods exported by them as “NAPROXEN” under the DEPB Scheme. The goods were stuffed after examination by the customs at ICD Hyderabad for export to UAE via Nhava Sheva port. The DRI Officers intercepted two consignments of cargo in two containers cleared through Hyderabad ICD for detailed examination including the above consignment, which was lying at Nhava Sheva docks for shipment to UAE. On examination, it was found that the material was not Naproxen.
