FREEZING ACCOUNTS
Hunt on for mule bank accounts; Tata Digital pause on funding
The government is working with the central bank to catch mule accounts in India’s banking system and prevent fraud. This and more in today’s ETtech Morning Dispatch.
Orders to freeze bank accounts of varsities in Bihar revoked
The education department in March had ordered freezing of the bank accounts of all the state-run universities, barring one, and withheld salaries of their vice-chancellors for allegedly remaining absent in a review meeting convened by the department in the last week of February this year. The department had issued letters to all VCs barring Kameshwar Singh of Darbhanga Sanskrit University, asking them to clarify why they did not attend the meeting to discuss the status of pending examinations and other issues.
Sebi rules on nomination in mutual funds, demat accounts. 10 things to know
Sebi has announced simplification of compliance for investors by lifting freeze on demat accounts and mutual fund folios due to non-submission of nomination.
Demat, MF A/cs won't be frozen for not filing nomination
Sebi announced it won't freeze demat accounts and mutual fund folios for existing investors without nominations. New investors must provide mandatory nominations, ensuring smoother processes and compliance in the market.
Sebi junks rule to freeze Demat a/cs, MF folio rule for non-submission of nomination
The regulator said dividend, interest or redemption payment withheld presently by listed companies and registrar and transfer agents for want of nomination should be processed accordingly.
Demat and mutual fund accounts won't be frozen for not filing nomination: Sebi
In a circular, the markets regulator said, based on representations received from participants, for ease of compliance and investor convenience, non-submission of 'choice of nomination' shall not result in the freezing of demat accounts as well as MF folios. In a circular dated December 27, 2023, Sebi extended the deadline for submitting "choice of nomination" for demat accounts and mutual fund folios to June 30, 2024. Accounts and folios without nomination details by this date will be frozen for debits.
- Go To Page 1
Kejriwal challenges Modi to arrest AAP leaders, says party will only get bigger
"BJP has started 'Operation Jhaadu' so that we don't grow big and become a challenge to them. Through 'Operation Jhaadu', AAP's big leaders will be arrested, they are being arrested and in the coming days, AAP's bank accounts will be frozen," the Delhi Chief Minister said at the meeting.
How Bengaluru entrepreneur got Rs 1.7 crore back after losing Rs 2.7 crore in fraud
A 52-year-old woman entrepreneur, defrauded of Rs 2.7 crore by cybercrooks, is set to recover Rs 1.7 crore after police traced and froze the miscreants' bank accounts. Prompt filing of a police complaint facilitated the freezing of accounts, with police noting this as one of the largest sums returned to a cybercrime victim recently. The victim, lured by promises of earning money through YouTube likes, ended up investing heavily before realizing the fraud.
Biz, trade caught between cyber cops & banks
Restaurants, retailers, small traders, companies face frozen funds due to cybercrimes. Urging action from finance ministry, LEAs, police. I4C initiative tackles cybercrimes. Banks, LEAs face frozen funds challenges.
RBI plans curbs on suspect bank accounts to fight cyber fraud
RBI plans to amend guidelines allowing banks to temporarily freeze accounts suspected of cyber crimes, combating a surge in online fraud. Victims currently face delays in freezing accounts, hindering recovery. The Reserve Bank of India aims to empower banks to suspend accounts linked to cybercrime without requiring police reports first.
Bank account was frozen after protests against Adani port, reveals Kerala's Latin church
Vizhinjam, a coastal hamlet in the state capital, had witnessed strong protests against the seaport, which also resulted in violence in November 2022. In a pastoral letter read during Sunday Mass, the Latin church said it was facing a funds crunch due to the freezing of its bank accounts by the authorities.
Systematic effort to cripple Congress: Sonia Gandhi
Congress leaders accused ruling establishment of freezing party accounts before elections, blaming PM Modi. Sonia Gandhi, Mallikarjun Kharge, and Rahul Gandhi alleged a plot to dry up party funds and cripple Congress campaign.
'Criminal action by PM Modi has crippled us before Lok Sabha elections', says Rahul Gandhi on freezing of Congress' bank accounts
During a press conference, Congress MP Rahul Gandhi, accompanied by party President Mallikarjun Kharge and Congress Parliamentary Party Chairperson Sonia Gandhi, criticized the freezing of the party's bank accounts as a "criminal action" by the Prime Minister and Home Minister. Rahul Gandhi alleged that this was an assault on Indian democracy, preventing the party from taking necessary actions for the upcoming elections.
Congress rendered financially handicapped through tax terror: Jairam Ramesh on freezing of party bank accounts
Congress leader Jairam Ramesh accused the BJP government of freezing party bank accounts, rendering it economically handicapped before elections. Ramesh alleged BJP was illegally collecting funds through electoral bonds. He praised Rahul Gandhi's yatras and vowed to continue ideological fights despite challenges.
Electoral bonds: Freeze BJP bank accounts, conduct special investigation, says Kharge
Congress President M. Mallikarjun Kharge called for a special investigation into the electoral bonds scheme, highlighting that the ruling BJP amassed Rs 6,060 crore over five years, demanding freezing of its bank accounts until the probe's completion. He criticized the disproportionate donations received by the BJP compared to Congress, urging for transparency.
ITAT dismisses Congress plea for stay against Income Tax proceedings over unpaid dues; Freezes bank accounts
The Income Tax Appellate Tribunal has dismissed the Congress party's plea to stay proceedings for the recovery and freezing of their bank accounts, aiming to recover Rs 115 crore in income tax dues. Congress plans to challenge the tribunal's decision, citing bias and timing ahead of national elections, and vows to fight back, calling it an attack on democracy.
Illegal Loans: ED freezes Rs 123-cr of Singapore-based shell firms parked in bank accounts of Mumbai-based NIUM India
The Directorate of Enforcement has frozen Rs 123 crore belonging to shell entities from Singapore in the bank accounts of NIUM Indian Pvt Ltd. The investigation revealed a complex network of money laundering through shell companies and fake invoices.
Jairam Ramesh alleges Congress account freeze is Centre's 'politics of revenge'
Congress General Secretary Jairam Ramesh accused the Modi government of freezing Congress and Youth Congress bank accounts as "politics of revenge." Referring to the recent Supreme Court remark on the government, he criticized the BJP for including leaders who left Congress, calling it "Congress Yukt BJP." He also mentioned the ongoing Bharat Jodo Nyay Yatra and Rahul Gandhi's upcoming visit to Kashi Vishwanath temple and interactions with various groups in Uttar Pradesh. On Sonia Gandhi contesting from Rae Bareli, he said it will be decided by the Central Election Committee.
Congress appeals to judiciary to "save" multi-party system, calls for massive agitation
Congress chief Mallikarjun Kharge came down heavily on the Prime Minister Narendra Modi-led central government after the alleged freezing of the grand old party's bank accounts by the Income Tax department.
Congress bank accounts 'unfrozen' soon after party's public announcement
Maken termed the freezing of accounts as an extreme measure. He cited earlier instances when the party furnished account info late but faced no penal action.
No spending freeze at startups; Swiggy, PharmEasy FY23 report card
Top internet firms didn’t let a ‘funding winter’ dampen their urge to spend in the last fiscal, an ET analysis found. Details of this and more in today’s ETtech Morning Dispatch.
Boeing 737 MAX lands in China, ending import freeze on order backlog
The 737 MAX 8 left Seattle Boeing field in Washington state on Wednesday after being handed over to China Southern Airlines , stopping in Hawaii and the Northern Mariana Islands before its final leg to Guangzhou in southern China, tracking data from FlightRadar24 shows. China, which was the first country to ground MAX jets after two MAX 8 accidents in 2018 and 2019 that killed nearly 350 people, gave Boeing permission last month to resume deliveries of its 737 MAX 8 to local customers.
Sebi mulls framework for voluntary blocking of trading accounts by clients
The regulator said there is an urgent need to address the situation of having a facility for blocking of trading accounts as it is available for blocking of ATM cards and credit cards.
Sebi plans to allow voluntary freezing of clients’ trading account from July 1
Currently, voluntary blocking/freezing of demat accounts is already available for investors, and this facility is now proposed to be offered for their trading accounts also, Sebi said.
EPFO lays out SOPs for freezing and de-freezing of accounts
The retirement fund body says verification of freezed accounts have to be completed in up to 30 days and extendable up to 14 days for due diligence to secure funds in these accounts.
Load More
