SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities
Jaypee group, which is into construction, cement, power, real estate, hotel and hospital businesses, has been facing crisis in the last few years due to defaults in debt repayments and huge delays in completion of housing projects in Noida and Greater Noida.
High Court quashes temporary bail granted to ex-official of IL&FS
Setting aside a lower court order, the Bombay High Court Tuesday quashed th...
Govt to restructure SFIO; increase manpower to 350 at probe agency
The govt is restructuring the Serious Fraud Investigation Office, in an ef...
SFIO arrests Rotomac promoter, two others
day Desai, who had not appeared before the agency citing the Covid-19 outbreak, was arrested late Wednesday night from Mumbai, people in the know said.
SFIO summons Sanjay Singal
BPSL had acquired Rs 4,025.23 crore in the form of equity capital infused by the Singals and associated promoter companies, “...which was sourced from illegally diverted funds, out of loans taken by BPSL from various banks,” the ED said in its chargesheet last month.
HC stays bail granted to two former IL&FS senior executives
The lower court allowed a 75-day temporary bail to the duo accused in the alleged irregularities caused at IL&FS and its subsidiaries, accepting the Covid-19 outbreak as a valid reason for providing relief.
NCLT allows Corporate Affairs Ministry's plea to reopen CG Power's accounts
The Mumbai-bench -- comprising members Bhaskara Pantula Mohan and Rajesh Sharma -- in its order also directed the government not to rely on the report by Vaish Associates, and asked them to conduct a separate investigation.
Board members, Execs questioned as IHH-Fortis deal comes under SFIO scanner
The SFIO has widened its probe into alleged financial irregularities at Fortis to also cover the July 2018 deal.
Parliamentary panel flags staff shortage at SFIO, Competition Commission
The SFIO and the CCI are among the institutions under the ministry that are well short of their respective sanctioned strength. In a report tabled in Parliament on Tuesday, the Standing Committee on Finance noted that the ministry's various regulatory entities are critically important for a smooth-functioning economy.
'Substantial recovery' likely against IL&FS external debt worth Rs 94,000 cr: Injeti Srinivas
Apart from the exercise of recasting the financial statements, an SFIO probe report regarding an IL&FS subsidiary is nearing completion and some matters are before the National Company Law Appellate Tribunal (NCLAT) and the Bombay High Court. In late 2018, the problems at IL&FS came to light after some group companies defaulted on loan repayments.
SFIO to probe fund diversion at CG Power
“The probe had found certain instances of funds being transferred to the promoter's company. When Thapar was confronted with the same, he refused to give satisfactory replies,” added one of the officials cited above. There was no response from Thapar or the company to a query on this matter from ET.
CG Power shares slip 5% as SFIO begins probe
On the NSE, the shares fell 4.7 per cent to Rs 11.15.
Adarsh Coop scam accused says used loan to buy Rs 225 cr fabric
The Serious Fraud Investigation Office (SFIO) revealed in its report that the Ahmedabad-based Adarsh Credit Cooperative Society had purchased fabric worth Rs 225 crore for suits. The SFIO is probing into the alleged Rs 9000 crore scandal, involving the Ahmedabad-based cooperative society controlled by Mukesh Modi and his family.
Bankers may reject DHFL revival plan over SFIO probe
SFIO ordered probe after a KPMG forensic audit highlighted likely cases of fund diversion at DHFL.
SFIO in HC against CIC order to disclose details of criminal cases against Daewoo Motors
SFIO and MCA have sought quashing of the CIC's November 8.
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