The kingpin, who hails from Ahmedabad, by floating these large number of fake firms, had issued fake invoices to generate fake Input Tax Credit amounting to Rs 50.24 Crores. This fake illegal credit was eventually passed on in chain to other fake identities by issuing fake invoices and without actual supply of goods and services.
Thus, MDAC is part of SEBI’s initiatives to make shareable data on the Indian securities market, available for researchers, policy makers, general public alike and to enhance the quality of such data. Some of the other initiatives taken by SEBI, through its Department of Economic and Policy Analysis (DEPA), include:
Mr. Santosh Kumar Shukla took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi today. Immediately before joining IBBI, he was serving as Chief General Manager in the Enforcement Department of the Securities and Exchange Board of India (SEBI).
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No:IRDAI/NL/WG/SB/375/2020-21 Date:19-10-2020 Exposure Draft Re: Report of the Working Group (WG) on suitability of offering of Surety Bond by Indian Insurance Industry A Working Group was set up by the Authority vide order Ref: IRDAI/NLWG-SB/95/2020-21 dated 24.07.2020 to study the Suitability of offering Surety Bonds by Indian […]
Ministry of Finance Income Tax Department carries out searches in Delhi, NCR and Haryana Posted On: 15 OCT 2020 The Income Tax Department has carried out a search and seizure action on 14.10.2020 in the case of a leading advocate practicing in the field of commercial arbitration and alternate dispute resolution. He was suspected to […]
Under Option-I States were to be provided a Special Window of Borrowing of ₹1.1 lakh cr, and over and above that, an authorisation for additional Open Market Borrowings of 0.5% of their GSDP.
A speculative news story being circulated in some section of media claiming that Attorney General has given opinion in favour of not appealing in the Vodafone Arbitration award is totally incorrect and without any factual basis.
To operationalize the Special Window to States for meeting the GST Compensation Cess shortfall of` ₹1,10,000 crore the GoI borrowing calendar is being modified in consultation with RBI. For the remaining period of the fiscal year 2020-21 (October 19, 2020 to March 31, 2021) GoI will borrowan aggregate amount of ₹ 4,88,000 crore. The additional amount for meeting the GST compensation shortfall shall be raised equally @ ₹55,000 crore under the 3 year and 5 year tenors.
It has come to the notice of SEBI that unsolicited messages containing stock tips/ investment advice with respect to listed companies are increasingly being circulated through bulk SMS, websites and social media platforms like WhatsApp, Telegram,etc.
Tamil Nadu goes for Option-1, gets permission to borrow an additional amount of Rs 9,627 crore. 21 States now allowed to mobilize Rs.78,452 crore in addition to Rs 1.1 lakh crore to meet the shortfall arising out of GST implementation
