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...
GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA UN-STARRED QUESTION NO. 1282 ANSWERED ON MONDAY, JULY 25, 2022/ SRAVANA 3, 1944 (SAKA) FRAUD BY SAHARA INDIA GROUP QUESTION 1282: SHRI RAJA AMARESHWARA NAIK: SHRI RAJVEER SINGH (RAJU BHAIYA): SHRIMATI SANGEETA KUMARI SINGH DEO: DR. SUKANTA MAJUMDAR: SHRI VINOD KUMAR SONKAR: SHRI BHOLA SINGH: DR. […]
Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the Applicant should be treated any differently. Bail granted
ED has provisionally attached Rs. 86.65 Crore lying in various bank accounts and payment gateway accounts pertaining to NBFCs namely M/s Kudos Finance and Investments Private Limited and others under PMLA, 2002 in the Loan App case Press Release 04.07.2022 Directorate of Enforcement (ED) has provisionally attached 16 immovable properties held in the name of […]
देश के सबसे बड़े बैंकिंग घोटाले दीवान हाउसिंग – सन् 2010 से 2018 तक इसके प्रमोटरों ने खुलकर फर्जीवाड़ा किया और हमारी सरकार इन्हें हाउसिंग सेक्टर में बेहतरीन प्रदर्शन के लिए इनाम देते रहे, बैंक इन्हें लोन बांटता रहा और तब इन्हें खुले आम किए जा रहा फर्जीवाड़ा भी अच्छा लगता रहा और जब 2019 में कंपनी ने डिफाल्ट किया तो सब खटकने लगा
Discover the impact of corporate frauds, money laundering, and benami properties in India. Learn about the legal provisions in place to tackle these issues.
1. Introduction on the Imprisonment + Fine (both) for Corporate Fraud under Section 447 of the Companies Act, 2013 (Act). (a) Corporate frauds are increasing in India by the person(s) those are directly or indirectly connected or even not-connected to the corporate. (b) It’s required that high standards for corporate governance and strong legal provisions should […]
The banks and financial institutions have been facing their worst experiences for the last few years in their management of NPAs such as in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi etc.
सीबीआई द्वारा कराया गया फारेंसिक आडिट वर्ष 2012-17 ने साबित कर दिया कि एक बड़े स्तर पर कंपनी और उनके निदेशकों द्वारा अवैध लेनदेन, धन का दुरूपयोग, आपराधिक मिलीभगत, साजिश, विश्वासघात, धोखाधड़ी और भ्रष्टाचार अंजाम दिया गया था. तो फिर बैंकों के समूह जो आईसीआईसीआई बैंक द्वारा लीड किया जा रहा था और जिसमें आडीबीआई […]
Fraudsters attempt to get confidential details like user id, login / transaction password, OTP (one time password), debit / credit card details such as PIN, CVV, expiry date and other personal information.
Any communication from Reserve Bank of India emits a strong interest from bank account holders exhibiting a strong faith in its study, reporting, and monitoring capabilities. Its latest emit of report on cyber frauds is no exception. Its reference is given at the end. Let me recall its reference of fraud as under: “‘A deliberate […]
