-TheWire.in Mining companies on the hook include Tata Steel, Essel Mining & Industries Ltd, Indrani Patnaik, Rungta Mines, Serajuddin & Company and even state-run entities like Odisha Mining Corporation. Bhubaneswar: Dealing a body blow to the mining companies that unlawfully raised huge quantities of iron ore and manganese ore, the Supreme Court on Wednesday called for the recovery of 100% compensation in lieu of the excess ore lifted. Disposing of a writ petition...
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Odisha: SC says companies will face 100% penalty for illegal mining
-Scroll.in The court refused to order a CBI inquiry into connivance of officials in the Rs 60,000 crore scam, but directed the setting up of an expert committee. The Supreme Court on Wednesday said mining companies that had been operating without necessary clearances in Odisha would be subject to a 100% penalty on the price of the ore that had been illegally extracted. The court also said that the government’s policy...
More »Anti-Graft Forum Questions Centre's Appointment of Firm Accused of Scams for Black Money Probes -Gaurav Vivek Bhatnagar
-TheWire.in PricewaterhouseCoopers, convicted in the Rs 7,000 crore Satyam scam, had also audited accounts of Vijay Mallya’s firm and the Global Trust Bank, which collapsed. New Delhi: The Narendra Modi government’s appointment of PricewaterhouseCoopers (PwC) India to key projects like black money probes, Digital India, Make in India and Smart Cities project has been questioned by the Citizens Whistleblowers Forum. The group has also expressed concern over the RBI’s engagement of the...
More »CVC examines CBI probe in top bank frauds, including Vijay Mallya's
-PTI CVC Commissioner says bankers need have no fear if their decisions are bonafide New Delhi: The Central Vigilance Commission (CVC) is supervising CBI's probe in 10 top bank fraud cases, including one involving fugitive businessman Vijay Mallya, and says bankers need have no fear if their decisions are bonafide. Vigilance Commissioner T M Bhasin told PTI that bankers need to "muster courage" to recover their money individually or collectively from defaulters. His assertion...
More »NDTV probe: Private banks fear debt resolution may be hit -Mayur Shetty
-The Times of India MUMBAI: Private sector bankers say that if NDTV's loan settlement with ICICI Bank is termed criminal, it could hit resolution of bad debts. The concerns follow the Central Bureau of Investigation (CBI) alleging that ICICI Bank officials may have caused wrongful gains to NDTV promoters by agreeing to cut the interest rate to settle the loan. "Settlement of any stressed loan involves some sacrifice by the banker. Often...
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