money laundering

News, The Morning Context

Swiss court ruling an indictment of SEBI, Indian courts in Adani affair

/

A Swiss Federal Criminal Court ruling is seen as an indictment of SEBI and Indian courts in the Adani affair. The verdict is based on an appeal to unfreeze an entity’s bank accounts, which indirectly weighed on allegations that the Adani group’s promoters had sold/bought more shares than legally permissible, to inflate share prices. The alleged proxy is Sanilion, linked to Chang Chung-Ling. The court documents reference money laundering and embezzlement suspicions.

Frontline, News

The other ‘coal scam’

/

Fresh evidence surfaces in the decade-long probe into “over-invoicing” of coal imports totalling over Rs. 35,000 crore by corporates including Adani. This scam’s main victim was the public at large rather than the government’s coffers. The Directorate of Revenue Intelligence (DRI) had found evidence that over 40 companies were over-charging for coal that was imported and sold to thermal power plants across the country.

News, News Click

Digging Diamonds From Banks The Untold Story of Fugitive Diamantaire Jatin Mehta – 2

/

Are the government and its agencies acting in a discriminatory manner so far as Jatin Mehta is concerned? Is there any weight to Congress’s allegations that he is getting preferential treatment on account of his links with the Adani family? Long before allegations of fraud levelled by banks against Nirav Modi and Mehul Choksi made headlines in the media in India and the world, another diamantaire from Gujarat, Jatin Mehta, and his group of companies had caused a major loss to Indian and international banks and became the one of the largest wilful defaulters of loans.

News, News Click

Digging Diamonds From Banks The Untold Story of Fugitive Diamantaire Jatin Mehta – I

/

The fugitive billionaire Jatin Mehta has long evaded the grasp of Indian authorities, despite having been declared a wilful defaulter by a number of Indian banks. Is his connection to the Adani family responsible for the government slow-walking its efforts to repatriate and prosecute him? In 2018, the Congress party had alleged that the Narendra Modi government had turned a blind eye to Jatin Mehta’s alleged misdemeanours, allowing him to leave India and delaying the filing of cases against him.

News, News Click

EXCLUSIVE: Absconding Arms Agent Sanjay Bhandari Claims French Firm Promised €20mn for Defence Deal But Cheated Him

/

Bhandari, who the Indian government wants to extradite from the UK, has alleged in court that French firm Thales cheated him through a complex structure of companies, one of which is promoted by a firm founded by Rajeev Chandrasekhar, Minister of State for Electronics and IT. The allegations, yet to be proven, find place in documents lodged in a French court. The Indian media has not picked up the story.

News, The Probe

Pawan Hans Sale: Cayman Islands company in winning bid allegedly fronted for notorious businessman from Zimbabwe

/

Did the government of India know about the link of a “notorious”, “corrupt” Zimbabwean businessman to India’s Pawan Hans disinvestment deal? Ravi Nair, Abir Dasgupta and Paranjoy Guha Thakurta reveal the complex web of companies that links controversial Zimbabwean businessman Kudakwashe Regimond Tagwirei to Almas Global Opportunity Fund, which is now at the heart of India’s Pawan Hans sale.

Adani Watch, News

Is the Indian Government undermining its own agency’s pursuit of alleged over-invoicing by the Adani Group?

/

An Indian government authority that investigates violations of customs law has alleged that three Adani Group companies have used intermediaries to artificially inflate the prices of imported coal-power goods. This practice, known as over-invoicing, enables companies to enrich a related third party and even to launder money, while passing on costs to consumers. The allegations against the Adani Group companies have bounced around inside the legal system for years, with little progress.

News, News Click

The Great Indian Gold Heist

/

Why the 80:20 Gold Import Scheme is a ₹ 2.65 lakh crore (or $35 billion) scandal. The 80:20 gold import-export scheme that began in July 2013 when the UPA government was in power and continued till November 2014, six months into the tenure of the Modi government, has been sharply criticised by the CAG.

Start typing and press enter to search

Scroll to Top