Investigations Financial News

Supreme Court has called for an investigation into the alleged nexus between real estate developers and banks, which it said had left poor homebuyers in the National Capital Region (NCR) “at ransom.” The court has sought a response from the Central Bureau of Investigation (CBI) regarding the possibility of conducting the probe. A bench of Justices Surya Kant and N Kotiswar Singh raised concerns over builders, banks, and interim resolution professionals failing to provide details about delayed housing projects and their construction progress. The court said a Special Investigation Team (SIT) must be formed to examine the issue, stating, “People invested their hard-earned money, but poor homebuyers have been taken to ransom.” The case involves thousands of homebuyers who purchased flats under subvention schemes, where banks directly disburse loans to builders, who are then responsible for paying the EMIs until the homes are handed over. However, several builders defaulted on payments, leading banks to demand EMIs from buyers, despite the delayed possession of their flats.

Himanta Biswa Sarma has hinted that the ongoing probe into alleged links between a Pakistan-based official and “certain individuals” in India may see involvement of Interpol. After Assam Police formed an SIT to investigate a case registered with Assam CID against a Pakistani national Ali Taqueer Sheikh who works with a climate action group – CDKN, Sarma had said government SIT has found that Seikh has come to India 18 times and SIT has got some initial leads which might lead to facts which will be starting, huge and fatal. Pakistani national Ali Taqueer Sheikh is accused of anti-India activities, and it is alleged that Congress MP Gaurav Gogoi's wife Elizabeth Colburn worked closely with Seikh.

Directorate of Revenue Intelligence (DRI) has arrested Kannada actress Ranya Rao at Bengaluru’s Kempegowda International Airport for allegedly smuggling 14.8 kg of gold, valued at approximately Rs 12.5 crore. Officials confirmed the arrest on Tuesday, stating that she was apprehended on Monday night and subsequently presented before an economic offences court, which remanded her to 14 days in judicial custody. According to PTI, Rao had arrived from Dubai on an Emirates flight and was reportedly under surveillance due to her frequent international travel. Authorities became suspicious after noting that she had visited Dubai four times within just 15 days, prompting them to conduct a targeted operation upon her return. Investigators revealed that the actress had allegedly smuggled the gold by wearing a significant portion of it and concealing gold bars within her clothing. Upon landing, she reportedly attempted to use her connections to evade customs checks. According to sources, Rao claimed to be the daughter of Karnataka's Director General of Police and even contacted local police personnel to escort her home.

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She had married Satish Chandra six months ago after a two-year relationship. Devika's family has accused Satish of harassing her for additional dowry, specifically demanding that her family-owned flat in Nizampet and a land parcel be transferred into his name. The Raidurgam police registered a dowry harassment case against Satish and launched an investigation.

On 13 February, finance minister Nirmala Sitharaman introduced the much-awaited bill to replace the existing Income-Tax Act, 1961. Among the changes proposed in the Income-Tax Bill, 2025, a significant one that cannot be overlooked is the extensive power granted to tax authorities to carry out searches of tax evaders.

Subscribe to enjoy similar stories. A former chairperson of the Securities and Exchange Board of India (Sebi), three current whole-time members (WTMs), a former BSE chairman, and the current BSE managing director and CEO have filed petitions challenging a Mumbai court's order that called for the registration of a first information report (FIR) against them over an allegedly fraudulent listing of a company on BSE. Justice SG Dige of the Bombay High Court set to hear the petitions today.

Indian National Congress worker, 22-year-old Himani Narwal’s body was found dumped near Rohtak-Delhi highway in Sampla on March 1. The 22-year-old woman was killed, and her body was stuffed in a suitcase. The police authorities have recovered the suitcase on a bus stop of the busy highway. The case is currently being investigated, and one arrest has been made so far. The accused in the custody is 30-year-old Sachin alias Dhillu.

Casey Anthony hit the headlines after the disappearance and death of her toddler, Caylee Anthony in 2008. More than a decade later, the accused mother now leads a relatively low-profile life. She works as a legal assistant for investigative services.

Subscribe to enjoy similar stories. President Trump has paused new investigations into foreign bribery after criticizing the law against it, but two former officials of a New Jersey professional services company are about to go on trial under the statute anyway. An executive order in early February put a halt to initiating any investigations or enforcement actions under the U.S.

Malaysia, but their actual final destination remains a mystery, the city-state's interior minister said Monday. The United States is cracking down on exports of advanced semiconductors to China, seeking to retain a competitive edge over the technology. But Bloomberg News reported in late January that US officials were probing whether DeepSeek bought advanced Nvidia semiconductors through third parties in Singapore, skirting Washington's restrictions.

Subscribe to enjoy similar stories. New Delhi: The government is exploring urgent legislative changes to ensure swift approvals from the Competition Commission of India (CCI) for the sale of distressed assets after a Supreme Court (SC) order cast a cloud over bankruptcy rescues, two people informed of the development said.

Subscribe to enjoy similar stories. Rising compliance burden, digital transformation and growing deal activity are expected to drive India Inc.’s legal expenses past the ₹60,000-crore mark in the ongoing financial year. “We project Indian companies' aggregate legal expenses for FY25 to jump 15%–18% from FY24," said Ritvik Lukose, co-founder and chief executive officer (CEO) of Vahura, a compliance and governance-focused search and advisory firm.

Enforcement Directorate (ED) is investigating if there's a foreign link to a multi-thousand crore fraud allegedly committed by an IT company headquartered in Noida. The agency has thus far identified proceeds of crime to be ₹3,558 crore, generated by Vuenow Marketing Services Ltd (VMSL) and its entities. In a breakthrough, the federal agency Saturday arrested Sukhvinder Singh Kharour, CEO of the company, and his wife Dimple Kharour. The agency said that the duo was trying to fly out of India, however an active look out circular (opened against them at the behest of the agency) helped detain the duo at the Indira Gandhi International Airport after the Bureau of Immigration tipped off the federal agency sleuths. Interestingly, Sukhvinder claimed before the court that he and his wife were arrested from Nepal at 8 am on February 28. The court found Sukhvinder's claim «devoid of any merit» and granted ED ten days of custodial interrogation.

Subscribe to enjoy similar stories. Apple’s tensions with the UK over encryption finally reached breaking point last week. Rather than submit to the government’s demand for a backdoor to customer data, the iPhone maker instead killed end-to-end encryption for all British customers of iCloud.

FedEx plane made an emergency landing shortly after taking off from Newark Airport on Saturday as its right engine caught fire, New York Post reported. According to the Port Authority of New York and New Jersey and FedEx, the bird strike caused the sudden ignition. Video showed the Boeing 767-3S2F heading back to the tarmac as flames spewed from the right engine around 8 am (local time) on Saturday. Two Port Authority fire trucks headed near the the plane as it landed and extinguished the blaze. Later, the National Transportation Safety Board announced that it initiated an investigation into the incident, New York Post reported. According to the flight data, the plane was forced to land at 8:07 am (local time), just nine minutes after the takeoff.

In his third new tariff probe in a week, Trump signed a memo ordering Commerce Secretary Howard Lutnick to initiate a national security investigation into U.S. lumber imports under Section 232 of the Trade Expansion Act of 1962. The trade law is the one Trump also used to impose tariffs on global steel and aluminum imports. The probe covers derivative products made from lumber which could include furniture such as kitchen cabinets, which in some cases are made of U.S. lumber that had been exported.

The outage was concentrated in major cities, including New York, Chicago, and Los Angeles. Many users took to social media platform X to express frustration, fearing a broader global issue.

Gene Hackman, 95, and his wife, Betsy Arakawa, 65, were discovered dead in their Santa Fe, New Mexico home on 26 February 2025. Their bodies were found by maintenance workers, leading to a growing mystery surrounding their deaths. Authorities believe Hackman may have died on or around 17 February, based on readings from his pacemaker, though the exact cause remains undetermined.

income tax department on Friday conducted a survey of premises linked to the Shapoorji Pallonji (SP) Group. The department's surveys often involve preliminary investigation.

electric scooter maker Hero Electric is up for insolvency resolution under IBC (Insolvency and Bankruptcy Code), with the resolution professional (RP) inviting prospective bidders for the now bankrupt company. The Expression of Interest (EOI) from prospective bidders for the company was floated on February 18 and is set to close on March 14, 2025. The RP will thereafter issue the final list of prospective resolution applicants on April 8.