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ILLEGAL DEPOSIT SCHEMES
Multi-crore ponzi scheme exposed in Karnataka: Over 40,000 investors duped in Shivananda Neelannavar fraud caseThe CID has exposed a massive Rs 2,400 crore Ponzi scheme run by Shivananda Neelannavar, defrauding over 40,000 investors. A significant po...- CBI arrests two main accused in Uttarakhand LUCC chit fund scamThe CBI has apprehended two key figures in the Rs 800 crore LUCC chitfund scam. Kishan Jain and Pankaj Jain were arrested in Mumbai. Over o...
- AUSTRAC flags financial crime risks in foreign-owned banks over low AML reporting and money mule activityAustralia's financial intelligence agency, AUSTRAC, has flagged serious concerns regarding foreign banks. Weaknesses in controls and low re...
- ED attaches Rs 110 crore assets in Prayag Group of Companies caseThe Enforcement Directorate has attached properties worth Rs 110 crore in a money laundering case involving Prayag Group. The group alleged...
- CBI files chargesheet against four accused in Dibrugarh Investment Scam CaseAccording to an official release, this is one of the Assam Investment Scam cases which are being investigated by the CBI at the request of ...
- Parliament passes bill to curb ponzi schemes; protect poor investorsThe Rajya Sabha passed with voice vote the bill which would save gullible investors from ponzi schemes.
- Bill introduced in Lok Sabha to check ponzi schemesThe Banning of Unregulated Deposit Schemes Bill, 2019 will replace the Ordinance on the same.
- Unregulated deposit ordinance to lead to creation of central repository of registered firms: Rajiv KumarThe repository will help put a check on illicit deposit-taking activities that dupe the poor and the financially illiterate of their hard-e...
- President promulgates Unregulated Deposit Scheme OrdinanceThe Ordinance will help put a check on illicit deposit taking activities like Saradha scam and Rose Valley chit fund scam.
- Cabinet approves amendments to Banning of Unregulated Deposit Schemes BillThe bill provides for severe punishment and heavy pecuniary fines to act as deterrent
- How to declare unaccounted money under the new Garib Kalyan Yojana and the watch-outsThe declaration can be made regarding unaccounted cash or deposits held with RBI, banks, head post office or sub post office or any other n...
- Draft bill proposes heavy penalty, jail term to curb illegal deposit schemesThe revised draft of ‘Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2016 seeks to provide for a comp...
- Govt to bring legislation to ban Ponzi schemes: CBI chief Anil SinhaWith Ponzi schemes of over Rs 1.2 lakh crores being probed by CBI, government will shortly bring a bill in Parliament to stop illegal depos...
- Ponzi menace: Deposit-taking companies must carry disclaimersThe disclaimer requirement has been introduced by way of amendments to the rules governing acceptance of deposits under the Companies Act.
- Parliamentary panel moots cover for collective investment schemesThe panel headed by former law minister Veerappa Moily, said it should be made mandatory that deposits and borrowings beyond a certain thre...
- Be alert against deposit schemes offering high returns: GovtGovernment has also advised people from falling for promises of high returns by entities running multi-level marketing and pyramid structur...
- Income Tax department to probe Saradha investment schemesThe Income Tax department will probe investments and finances of Kolkata-based Saradha group which is hitting headlines for allegedly defra...
- White Paper on black money against tax immunity schemesThe White Paper on black money today virtually ruled out the possibility of a voluntary disclosure or gold deposit tax immunity schemes to ...
- I-T dept busts Rs 150 crore 'ponzy scheme' in West BengalThe department is also taking the help of police to trace the numerous investment agents who canvassed for the illegal scheme in the villag...
- SC to hear plea of SBI's Janata depositorsSC to examine SBI Janata Deposit Collectors Association's plea seeking direction to the bank not to discontinue the scheme which was introd...
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