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As the <keyword id="6357808" type="General" weightage="50" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) continued searches at the premises of <keyword id="36918" type="General" weightage="20" keywordseo="chinese" source="Orion">Chinese</keyword> companies, including smartphone maker <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword>, at 44 locations in 22 states on Wednesday, the directors of one of the companies associated with Vivo have fled <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. According to sources, two of the Chinese directors of Solan, Himachal Pradesh-based company, that was associated with Vivo, have likely fled India, as ED registered a prevention of <keyword id="6355008" type="General" weightage="20" keywordseo="money-laundering" source="Orion">money laundering</keyword> case. The Chinese nationals were made directors in the Indian entities with fake documents. The enforcement agency has so far received information about money laundering worth Rs 10,000 crore during the raids, according to ED sources. More details will emerge later in the case, the sources added. The <keyword id="6354572" type="General" weightage="50" keywordseo="cbi" source="Orion">CBI</keyword> has also been probing the case and lodged a separate first information report. In a statement to IANS, Vivo had said that it is cooperating with the authorities to provide them with all required information. "As a responsible corporate, we are committed to be fully compliant with laws," a company spokesperson said. In April, the ED seized Rs 5,551.27 crore of <keyword id="6187302" type="General" weightage="50" keywordseo="xiaomi-technology-india-private-ltd" source="Orion">Xiaomi Technology India Private Ltd</keyword> lying in the bank accounts under the provisions of <keyword id="88944" type="General" weightage="50" keywordseo="foreign-exchange-management-act" source="Orion">Foreign Exchange Management Act</keyword> (<keyword id="6379062" type="General" weightage="50" keywordseo="fema" source="Orion">FEMA</keyword>) connection with the illegal outward remittances made by the company. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-to-flag-off-the-earnings-season-heres-what-to-expect/articleshow/92713823.cms">TCS to flag off the earnings season — here’s what to expect</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-reduces-booster-gap-as-fewer-people-are-lining-up-for-the-precautionary-dose/articleshow/92703544.cms">India reduces booster gap as fewer people are lining up for the precautionary dose</a>

Vivo ED raids: Two Chinese directors of a related company flee

<ul class="summary-list"><li>Around 76 locations were raided across 12 Indian states in a crackdown on tech support scam calls.</li><li>India's Central Bureau of Investigations is working with Amazon and Microsoft to combat scammers.</li></ul>India has been cracking down on tech support scammers in an effort to "combat and dismantle" finance-related cyber crime, officials announced on Thursday.Officials raided around 76 suspected illegal call center locations across India, in several different states, according to a press release from <a href="https://twitter.com/CBIHeadquarters/status/1715013792697045503/photo/1" target="_blank" rel="noopener">India's Central Bureau of Investigations</a>. These raids were part of a police operation called Chakra-II. The scammers often pretend to work for reputable companies like Microsoft and Amazon, according to a press release from <a href="https://www.aboutamazon.com/news/policy-news-views/amazon-microsoft-protect-against-impersonation-scams" target="_blank" rel="noopener">Amazon</a>. Now, Amazon and Microsoft are teaming up with CBI and international law enforcement in an effort to cut down on the calls. Many of these scammers target Americans, with over 2,000 people being impacted, according to Amazon. Countries like Canada, Australia, the UK, Germany, and Spain have also been affected. Law enforcement seized 32 phones, 48 laptops and hard discs, and 33 SIM cards and froze several bank accounts amid the raid of the 76 locations, according to CBI. The locations were in Indian states including Bihar, Dehli, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Punjab, Tamil Nadu, Uttar Pradesh, and West Bengal. The <a href="https://pdf.live/edit?url=https%3A%2F%2Fwww.ic3.gov%2FMedia%2FPDF%2FAnnualReport%2F2022_IC3Report.pdf&amp;guid=2ddc7657-c83a-6076-17bc-72ec9ddcb2b2&amp;installDate=070723&amp;source=google-d_pdftab_crx" target="_blank" rel="noopener">FBI</a> estimates that in 2022, over 32,000 people were targeted by tech and customer support scams, with over $800 million in losses. Amazon said it has a "zero tolerance" policy for scammers pretending to be part of the company. It has taken down over 20,000 phishing websites and 10,000 phone numbers associated with fraud scams.Oftentimes, scammers will target <a href="https://www.businessinsider.com/why-its-so-easy-to-scam-old-people-2012-8" target="_blank" rel="noopener">elderly</a> victims, with 69% of victims being 60 or older, according to the FBI. Ensuring that you and your loved ones are aware of the warning signs of a scam call or phishing email or text can help them avoid being tricked into handing away sensitive information.Microsoft and other reputable tech companies will never contact you via phone call, email, or text to tell you that there's a problem with your device, Microsoft Security's Doug Thomas said in a <a href="https://www.youtube.com/watch?v=IkREEmr0maw" target="_blank" rel="noopener">YouTube</a> video. He also said that pop-up messages from reputable companies won't include a phone number that you need to call to get help. Amazon recommends that anyone who suspects they're being scammed report the activity to <a href="https://affiliate.insider.com?amazonTrackingID=biauto-63823-20&amp;h=52b2ea51ffa357f3d904f0652b1ce5e62088fb9c8234f130aa0cabb3980cc9a7&amp;postID=6532e079e20e2d7dddac5183&amp;postSlug=scam-call-centers-crackdown-raids-india-microsoft-amazon-2023-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2Fgp%2Fhelp%2Fcustomer%2Fdisplay.html%3FnodeId%3DGRGRY7AQ3LMPXVCV" target="_blank" rel="noopener">amazon.com/reportascam</a> or email stop-spoofing@amazon.com.

Around 76 locations were raided in India as part of a crackdown on phony tech support scam calls

In a major crackdown against bank loan defaulters, the Central Bureau of Investigation (CBI) on Tuesday searched more than 50 locations in 12 states and Union Territories, officials said. A CBI official said several teams carried out the raids in 18 cities including the residence and business premises of companies, promoters, directors and bank officials. The searches started on Tuesday morning. India has a huge pile of <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword> and much of it is unpaid loans from large corporate borrowers. The new bankruptcy laws and escalating regualtory pressure has reduced some of the pressure but still nearly one in every ten rupees in lent is unpaid. "The share of large borrowers (in gross non-performing loans) fell about 200 basis points (bps), but their stress(ed) assets fell 120 bps only. This implies a slower offtake in advances in the segment, rather the recoveries," a recent report by Dolat Capital said. With inputs from IANS SEE ALSO: <a href="https://www.businessinsider.in/anil-ambani-reliance-capital-auditor-pwc-resigns/articleshow/69750766.cms'">The auditor to Anil Ambani firm Reliance Capital says it wasn't allowed to do its job</a> <a href="https://www.businessinsider.in/yash-birla-named-willful-defaulter-by-uco-bank/articleshow/69819133.cms">Yash Birla declared ‘willful defaulter’ by a bank that was founded by his great grand uncle</a>

CBI, India's premier investigating agency, has raided corporate loan defaulters in 12 states

The CBI carried out searches at seven locations on Monday in connection with the <keyword id="8878575" type="UNKNOWN" weightage="20" keywordseo="yes-bank-scam">Yes Bank scam</keyword> pertaining to the Rs 600 crore alleged bribe to the family of its co-founder <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword> by DHFL, officials said. Teams of CBI officers are carrying out operations at the residence and official premises of the accused in Mumbai, they said. The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with <keyword id="152129" type="COMPANY" weightage="20" keywordseo="Kapil-Wadhawan">Kapil Wadhawan</keyword>, DHFL promoter, for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, they said. According to the <keyword id="522895" type="ORGANIZATION" weightage="20" keywordseo="CBI-FIR">CBI FIR</keyword>, the scam started taking shape between April and June, 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL). In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said. See also: <a href="https://www.businessinsider.in/finance/news/finance-minister-assures-employment-and-salary-at-yes-bank-at-least-for-one-year/articleshow/74514015.cms">Finance Minister assures employment and salary at Yes Bank at least for one year</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-share-price-falls-10-after-rbi-limits-withdrawals/articleshow/74504094.cms">Yes Bank share price nose dives 72% after RBI limits withdrawals</a> <a href="https://www.businessinsider.in/finance/news/rbi-has-a-new-scheme-to-rescue-yes-bank-will-be-released-shortly-says-shaktikanta-das/articleshow/74506268.cms">RBI has a new 'scheme' to rescue Yes Bank — will be released shortly, says Shaktikanta Das</a>

Yes Bank scam escalates as CBI carries out searches to connect Rana Kapoor to DHFL promoter Kapil Wadhawan

Hyderabad-based businessman <keyword id="15211274" type="General" weightage="50" keywordseo="boinpally-abhishek-rao" source="Orion">Boinpally Abhishek Rao</keyword>, who has been arrested by the Central Bureau of Investigation (<keyword id="6354572" type="General" weightage="80" keywordseo="cbi" source="Orion">CBI</keyword>) in <keyword id="14762568" type="General" weightage="20" keywordseo="Delhi-excise-policy-scam" source="Orion">Delhi excise policy scam</keyword> allegedly involving the national capital's Deputy Chief Minister <keyword id="6354681" type="General" weightage="50" keywordseo="manish-sisodia" source="Orion">Manish Sisodia</keyword>, is associated with several companies. He is a director of Anoos Electrolysis &amp; Obesity Pvt Ltd, Anoos Health &amp; Wellness Pvt Ltd, Robin Distribution LLP, Agasti Ventures, SS Mines &amp; Minerals, Master Sand LLP, Neoverse Realty Pvt Ltd, Zeus Networking Pvt Ltd and Valuecare Esthetics Pvt Ltd. Considered close to a key leader of the ruling party in Telangana, he is the first person from <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> to be arrested in the case. Rao was allegedly found to be acting as a south lobby. The investigating agency suspects that he committed irregularities through cartelization. Rao is the second person to be arrested in the excise policy. The CBI had earlier arrested Vijay Nair, former CEO of events company- Only Much Louder. The Enforcement Directorate (ED) has also arrested liquor trader Sameer Mahendru of Indo Spirit. He is said to have business links with Arun Ramachandra Pillai, a resident of Hyderabad and one of the persons booked by the CBI in the case. Rao's arrest came after several rounds of raids conducted by the CBI and ED at various places in Hyderabad, including in the office of a media house. He was also reportedly questioned by the CBI a couple of times in the case. According to the CBI investigation, Arun used to collect money from Sameer Mahendru for onward transmission to the accused public servants through Vijay Naidu. The liquor license holders allegedly issued bills to retail vendors to divert funds to public servants involved in irregularities. This is where some companies from Hyderabad are believed to have helped in illegal transactions. Further questioning of the CBI is likely to unearth the role of some other suspects in the case. Six to seven to eight businessmen and a couple of politicians and officials from Telugu states are believed to be involved in the case. The officials hailing from Telugu states are said to be holding key positions in the Delhi government. The Hyderabad-based businessmen were reported having colluded with politicians and officials in the Delhi government to influence the liquor policy of that state to derive monetary benefits from it. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/beware-of-bouncing-cheques-harsher-punishments-may-be-afoot/articleshow/94757668.cms">Beware of bouncing cheques, harsher punishments may be afoot</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/livspace-earmarks-100-mn-to-invest-in-d2c-brands-in-home-segment/articleshow/94755762.cms">Livspace earmarks $100 mn to invest in D2C brands in home segment</a>

Who is Boinpalli Abhishek Rao arrested in Delhi excise policy scam?

The <keyword id="6354889" type="General" weightage="50" keywordseo="central-bureau-of-investigation" source="Orion">Central Bureau of Investigation</keyword> (CBI) on Thursday carried out raids at eleven locations across India including Gurugram and arrested six persons including officials of <keyword id="14392422" type="General" weightage="50" keywordseo="tata-projects-limited-and-power-grid-corporations" source="Orion">Tata Projects Limited and Power Grid Corporations</keyword> in connection with a corruption case. "B.S. Jha, the executive director of <keyword id="6368906" type="General" weightage="100" keywordseo="power-grid" source="Orion">Power Grid</keyword> has been arrested by us along with five others. Rs 93 lakh cash was also recovered from his house in Gurugram," said the source. The source said that <keyword id="14392421" type="General" weightage="50" keywordseo="desh-raj-and" source="Orion">Desh Raj and</keyword> R.N. singh working with <keyword id="2971015" type="General" weightage="80" keywordseo="tata-projects-limited" source="Orion">Tata Projects Limited</keyword> were also arrested in this connection. An FIR was lodged in this respect in February. There was an scheme for North East Region, North System Improvements scheme, which was for <keyword id="14392423" type="General" weightage="50" keywordseo="arunanchal-pradesh-and-sikkim" source="Orion">Arunanchal Pradesh and Sikkim</keyword>. The accused persons had got the tenders of the said project. As per allegations huge money was paid as bribe to get the project. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lg-electronics-estimates-q2-operating-earnings-fall-by-12-on-weaker-demand/articleshow/92721180.cms">LG Electronics Q2 operating earnings fall by 12% on weaker demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms">ID Fresh offers stock options to another 27 employees, aims to create 100 crorepatis in the next three years</a>

CBI arrests officials of Tata Projects and Power Grid among others in graft case

War of words continued after the CBI raided the office of <keyword id="1994863" type="UNKNOWN" weightage="20" keywordseo="Delhi-CM-Arvind-Kejriwal">Delhi CM Arvind Kejriwal</keyword>’s Principal Secretary Rajendra Kumar. 
 
Following the raids, Kejriwal had called PM Narendra Modi a “coward and psychopath” 
 
Kejriwal claimed that CBI conducted raids on his office. 
 
"CBI raids my office," Kejriwal tweeted. "When Modi cudn't handle me politically, he resorts to this cowardice. Modi is a coward and psychopath," he tweeted again. 
 
 
 
<blockquote class="twitter-tweet" lang="en">
	
		When Modi cudn't handle me politically, he resorts to this cowardice
	— Arvind Kejriwal (@ArvindKejriwal) <a href="https://twitter.com/ArvindKejriwal/status/676623727480598528">December 15, 2015</a></blockquote>
 
 
<blockquote class="twitter-tweet" lang="en">
	
		Modi is a coward and a psycopath
	— Arvind Kejriwal (@ArvindKejriwal) <a href="https://twitter.com/ArvindKejriwal/status/676627652204060672">December 15, 2015</a></blockquote>
 
 
<blockquote class="twitter-tweet" lang="en">
	
		CBI lying. My own office raided. Files of CM office are being looked into. Let Modi say which file he wants?
	— Arvind Kejriwal (@ArvindKejriwal) <a href="https://twitter.com/ArvindKejriwal/status/676632104071921664">December 15, 2015</a></blockquote>
 
 
Ravi Shankar Prasad replied to Kejriwal’s claims and said, “CBI has already clarified Delhi CM's office has not been raided. CBI has raided after proper search warrant from the court. There is no law that states that Kejriwal should have been informed about the raids.” 
 
The Union minister also slammed Kejriwal for calling Modi a “psychopath”. 
 
“Kejriwal should apologize to PM for using words like coward. It's totally uncalled for, unwarranted and shameful,” said Prasad. 
 
The CBI registered a case against Rajendra Kumar, Secretary to the Delhi CM, on the allegation of abusing his official position by favouring a particular firm in the last few years in getting tenders from Delhi government departments. 
 
Kumar has been accused by Ashish Joshi, member secretary, Delhi dialogue Commission. 
 
Searches are being conducted in Kumar’s office and residence. 
 
Joshi had filed the same case in the past with the Anti-Corruption Branch of the Delhi government, too. 
 
“Should we presume that you did not undertake any due diligence while appointing your secretary? CBI must be allowed to do its work in a free and fair manner," said Prasad. 
 
Prasad also accused Kejriwal of adding "political colour" to the CBI raids. 
 
"Allegations against Rajendra Kumar are very serious. Why is Arvind defending someone facing charges?" he asked. 
 
(Image: Indiatimes)

BJP demands apology from Delhi CM Kejriwal for calling PM Modi a coward, psychopath

The <a href="http://www.businessinsider.in/searchresult.cms?query=CBI">CBI</a> today conducted searches at over 50 locations across Maharashtra and Odisha to crack down on <a href="http://www.businessinsider.in/searchresult.cms?query=chit+fund">chit fund</a> fraud. 
 
The searches were done basis two cases registered against a Pune-based <a href="http://www.businessinsider.in/searchresult.cms?query=private+group">private group</a> which allegedly collected money from people illegally. The searches were done at 58 locations including Pune, Nasik, Aurgangabad and Solapur. 
 
The official and residential premises of the firm's promoters were also searched. 
 
Image credit: Indiatimes

CBI conducts raids in Maharashtra and Odisha over Chit
fund scam

The central bureau of investigation (<keyword id="6354572" type="ORGANIZATION" weightage="100" keywordseo="CBI">CBI</keyword>) raided the premises of another chit fund company, <keyword id="2459149" type="UNKNOWN" weightage="100" keywordseo="Midas-Touch-Assets-and-Securities-Limited">Midas Touch Assets and Securities Limited</keyword>. The CBI raided Midas Touch's head office in Bhubaneswar and branch offices at other places in the state. 
 
Last week, the investigating agency had raided the offices of Nava Diganta Capital Services Limited. The company is accused of duping hundreds of investors in Odisha. 
 
Midas Touch started its operations in 2009 and collected money from investors in Angul, Puri, Bhubaneswar, Dhenkanal and Baripada. 
 
CBI sleuths could not lay their hands on the company's managing director Soubhagya Kumar Samal, who is on the run. His parental house in Jajpur was also raided. 
 
“The flat was found locked with several bank notices pasted on the door. Samal had failed to repay the loan availed from a bank to purchase it. Raids are being conducted to know his whereabouts," said a CBI officer. 
 
"Samal fled without paying the house rent of Rs 3 lakh. He had taken the house on rent in 2009. A few days ago, I learnt that he had fooled investors by claiming that the building was his," said Piyush Prasad Prusty, the owner.

CBI Raids Another Company In Chit Fund Scam

Mumbai, Mar 7 () The Enforcement Directorate questioned Yes Bank founder Rana Kapoor for the second day on Saturday in connection with a money laundering probe against him and others and raided some more locations in Delhi and Mumbai, officials said.They said Kapoor was brought to the agency's office in Ballard Estate area after noon.He has been questioned for over seven hours and his statement recorded by the agency under the Prevention of Money Laundering Act (PMLA), the officials said.The premises of Kapoor's three daughters in Delhi and Mumbai were also searched on Saturday to gather more information and evidence, they added.The ED had searched Rana's residence in the upscale 'Samudra Mahal' building in the Worli area on Friday night and grilled him there too.The questioning of Kapoor is continuing, the officials said.The case against Kapoor is linked to the scam-hit Dewan Housing Finance Corporation (DHFL) as the loans given by the bank to the company allegedly turned non-performing assets (NPAs), they said.A Rs 600-crore worth loan extended by the DHFL to an entity is also at the centre of the ED probe, they added.Action against Kapoor is being conducted under the PMLA.According to the officials, the central agency is also probing the Yes Bank founder's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts.Other alleged irregularities are also under the agency's scanner, including the one related to the alleged Employees' Provident Fund (EPF) fraud in Uttar Pradesh Power Corporation Limited (UPPCL), they said.The CBI recently took over the investigation into the Rs 2,267-crore EPF fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in DHFL.The ED action came after the Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. NES DIVDIV

ED questions Yes Bank founder Rana Kapoor for second day; expands raids

If a man is judged by how he treats his enemies, then Andhra Chief Minister Jagan Reddy has a lot to answer for. His opposition leader <keyword id="6354350" type="UNKNOWN" weightage="20" keywordseo="Chandrababu-Naidu">Chandrababu Naidu</keyword> and his son are among many leaders of the Telugu Desam Party (TDP) placed under house arrest by his government. The current detention aims to prevent a protest rally. But it seems more like the latest crescendo in a political rivalry that spans at least two generations. Naidu alleges that eight of his party members were killed, and many more have been assaulted by the ruling YSR Congress party, led by debutante chief minister Jagan Reddy. “We, as a state, are at the worst possible phase in terms of safety for people. Is there a mechanism to protect people in Andhra? Even as YSRCP kickstarted a welfare center for government employees, another attack took place on our party members in Anantapuram,” Naidu said in a tweet in Telugu on September 6. Reddy dethrones Naidu from his lair In the 100 days that Reddy has ruled the state, a myriad of changes have come in. Jagan cited environmental laws to raze a conference hall in the state capital Amaravati, called Praja Vedika. Though it’s a government property, it was built and extensively used by Naidu and could be termed as his ‘lair’. Reddy found another building which was 'too close to the banks of Krishna river’. This happens to be a palatial home rented by Naidu. His security detail was also rolled back by the state government. Stripped off his power and pride, Naidu decided it was time to go back to the grassroots and accumulate some popular support via a protest march on foot, padyatra. But Reddy wouldn't have any of it. The current chief minister knows that padayatras built glorious political careers--starting from former CM and founder of TDP, N T Rama Rao, and Reddy’s own father Y S Rajasekhara Reddy who was also a former CM, and Jagan himself. Painting his state in his colours Jagan Reddy has been a mystery to many people who know him, and do not. The five feet five inches tall 46-year-old appears to be soft spoken. Yet, he launched a phased and vicious attack on his bête noire, Naidu, without dreading public opinion. Some political pundits even say that Reddy wants to<a href="https://www.firstpost.com/india/arbitrary-decisions-by-ys-jagan-mohan-reddy-in-zeal-to-wipe-out-chandrababu-naidus-legacy-alarm-domestic-foreign-investors-in-andhra-pradesh-7172001.html"> wipe the state</a> clean of Naidu and his party. At the same time, he is literally painting the state in his colours. He has painted the state’s gram panchayats in the white, blue and green colours of his party flag. His deceased father’s photo are displayed prominently. Not all changes heralded by Reddy are cosmetic. He also cancelled the tender for Naidu’s pet project ₹3,200 crore Polavaram hydel power project. But he is keeping poll promises by taking over private liquor business, which is the first step to implement prohibition in the state. Reddy learns from Modi, but can they be friends? Reddy seems too have taken a leaf out of the same book as the Prime Minister Narendra Modi. When Modi stormed to power in New Delhi, he used the momentum to take the <a href="https://caravanmagazine.in/politics/how-amit-shah-helped-modi-sideline-his-political-rivals-in-gujarat">floor from the opposition Congress </a>party, which was at the time, led by political elites well entrenched in the system. Yet, Modi and Reddy are not natural allies. Unlike Modi-led BJP which thrives on Hindu pride Reddy has been a Christian for three generations. Unsurprisingly, Reddy's move to give ₹5,000 per month honorarium to pastors in his state was against BJP's core philosophy and caused disagreement. The state’s BJP machinery has been attacking Reddy on minor matters of faith. Yet, Reddy is playing it safe with the party which is in power at the center. Maybe he does not want to make another bitter enemy of a party ruling at the center. Enemy’s enemy is not yet a friend The Congress party which was ruling in 2013 had cornered Reddy just the way he is targeting Naidu. And, with worse consequences. After his father’s mysterious death caused by a helicopter crash, the Reddy family clashed with the Gandhis of Congress party. Not only did that ensure that he did not get a place in the Congress party where his father belonged, it got him into more trouble. He had later blamed the Gandhis for instigating CBI raids at his home and offices. This culminated in a disproportionate assets case against him which is still in litigation. In fact, he also spent a few months at Chanchalguda jail. In that sense, BJP and YSRCP have a common enemy--the Congress Party. But, Reddy has not shown any inclination to make friends with the BJP. But if he manages to wipe out TDP from the state, then he could ensure that BJP will not dial its former partner Naidu once again. It will ensure that he can enjoy unabated power, which is what people in power always seem to crave for.

Years of bad blood between Jagan Reddy and Chandrababu Naidu is spilling out

(Eds: Combines related stories) Mumbai, Mar 8 () Rana Kapoor, the founder of crisis-ridden Yes Bank, was arrested by the ED on Sunday under money-laundering charges after over 20 hours of questioning and remanded to its custody till March 11, a day after the CBI booked him for allegedly receiving kickbacks of Rs 600 crore in form of loans to a company held by his three daughters.As the agencies tightened the noose around the 62-year-old, his daughter Roshni Kapoor was stopped by ED from taking a flight to London as she is required to join the probe, officials said.On Saturday, the agency had widened its probe as the premises of Kapoor's daughters in Delhi and Mumbai were searched to gather more evidence.The banker was taken into custody at the ED office in Ballard Estate under the provisions of Prevention of Money Laundering Act around 3 am on Sunday as he was allegedly not cooperating in the probe, they said. Kapoor was questioned for over 20 hours after ED raided his residence on Friday night.On Sunday, the ED produced Kapoor before a holiday court in Mumbai and sought his remand, saying the role of some companies run by his family members needs to be established and they need to confront all these people with him.The defence lawyer, however, said Kapoor has been selectively targeted by ED and he is cooperating with the probe agency. "We are ready to cooperate and submit all the documents that the agency wants. I have fully cooperated with them," Kapoor said in the court."From the last few days I was not well, hence my family members took me to Breach Candy Hospital, but still I am cooperating with ED," he told in the court.However, the ED told the court it wants to conduct a through investigation and "many people are under the scanner". The court then remanded Rana Kapoor in ED's custody till March 11.Kapoor was arrested by ED on the basis of the CBI FIR registered on Saturday, after allegations of financial irregularities and mismanagement in the operations of Yes Bank surfaced and the RBI and the Union government initiated action to control its affairs.Sources said the CBI booked Kapoor, DoIT Urban Ventures Ltd, a company allegedly held by his family members and promoter-director of DHFL Kapil Wadhawan for alleged criminal conspiracy, cheating and corruption. The details of the FIR emerged on Sunday when the enforcement case information report (ECIR) of ED became public.The CBI alleged Kapoor entered into a criminal conspiracy with Wadhawan for extending financial assistance to DHFL though Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them.According to the CBI FIR, the scam started taking shape between April and June 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of scam-hit DHFL.In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, officials said.DoIT Urban Ventures is held by daughters of Kapoor - Roshini, Radha and Rakhee - which are 100 per cent share holders of the company through Mogran Credits Pvt Ltd, it alleged."Rana Kapoor obtained undue pecuniary advantage from DHFL in the matter of investment in the debentures of DHFL by Yes Bank, through the companies held by his wife and daughters," the FIR alleged.The ED investigating officer had recorded Kapoor's statement under PMLA when he was first interrogated on Friday night at his upscale residence in 'Samudra Mahal' complex in Worli area here.He was brought to the ED office on Saturday noon for a fresh round of questioning.According to officials, Kapoor's wife Bindu and daughters - Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor - are allegedly linked to some companies to which the suspected "proceeds of crime" have been traced.The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts.Other alleged irregularities are also under the agency's scanner including the one related to the alleged PF fraud in the Uttar Pradesh power corporation, they added.The CBI has recently taken over investigation into the Rs 2,267-crore Employees' Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in Dewan Housing Finance Corporation (DHFL).The Reserve Bank of India had on Thursday imposed a moratorium on Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in Yes Bank under a government-approved bailout plan. NES/ABS AB RT ABHABH

ED arrests Yes Bank founder Rana Kapoor; CBI alleges kickbacks to firm held by daughters

A<a href="http://www.businessinsider.in/A-man-stole-over-1600-pounds-worth-of-pennies-by-wheeling-them-out-of-a-room-and-somehow-no-one-noticed/articleshow/54257350.cms"> Central Intelligence Bureau</a> officer and two retired officers of the <a href="http://www.businessinsider.in/A-man-stole-over-1600-pounds-worth-of-pennies-by-wheeling-them-out-of-a-room-and-somehow-no-one-noticed/articleshow/54257350.cms">Customs</a> are among the seven people to be arrested for trying to loot gold from a courier employee at Howrah station in <keyword id="6357783" type="CITY" weightage="20" keywordseo="West-Bengal">West Bengal</keyword>. 
 
The accused IB officer and two retired Customs officers tried to loot around five kg gold from the employee while he was getting off the Kamrup Express at the Howrah Station this morning, a senior officer of <a href="http://www.businessinsider.in/A-man-stole-over-1600-pounds-worth-of-pennies-by-wheeling-them-out-of-a-room-and-somehow-no-one-noticed/articleshow/54257350.cms">Howrah Police Commissionerate</a> told a news agency. 
 
Acting on a tip-off, a team of police personnel from Howrah Police reached the spot at the same time when the IB officer and his associates told them that a "raid was on and they would take the person and the gold with them," he said. 
 
"On finding that the officers' statements were discrepant our officers brought them here and on questioning they admitted their crime," the officer said. 
 
(Image : India Times)

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