KERALA LATIN CHURCH BANK ACCOUNT FREEZE
ED raids Kerala-based ponzi company that duped depositors of Rs 1,500 crore
The Enforcement Directorate Friday said it raided multiple locations in various states as part of a money laundering investigation against a Kerala-based company that allegedly duped depositors to the tune of Rs 1,500 crore through a ponzi scheme. The searches were launched on June 11 on the premises of the promoters of HighRich Online Group in Kerala, Maharashtra and Chhattisgarh.
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.
Here is why parties are chasing the minority vote in Kerala's Lok Sabha elections
Kerala's political landscape is intensifying as parties compete for minority votes, particularly from Muslims and Christians who make up 44.9% of the population. The UDF and LDF are aggressively pursuing minority issues, recognizing their electoral significance. In the past, minority voting behavior has significantly influenced election outcomes. The absence of leaders like Oommen Chandy has posed challenges for the UDF, while the LDF's outreach to minorities has shown success. Church factions and denominational dynamics also play a crucial role, impacting voting patterns and political alignments.
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.
BJP fields Kerala unit president K Surendran against Rahul Gandhi in Wayanad
The Bharatiya Janata Party (BJP) unveiled its fifth list of candidates for the Lok Sabha elections, featuring 111 names across various states including Uttar Pradesh, Bihar, Odisha, Rajasthan, and more. Key highlights include K Surendran, the Kerala unit president, contesting from Wayanad, where Rahul Gandhi currently serves as MP.
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.
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ED freezes over Rs 120-cr bank deposits in probe against Chinese-controlled gambling, loan apps
The searches were carried out on February 23-24 against a company named NIUM India Pvt Ltd and its directors based in Mumbai, Xoduz Solution Pvt Ltd, Vikrah Trading Enterprises Pvt Ltd, Tyrannus Technology Pvt Ltd, Future Vision Media Solutions Pvt Ltd, Aprikiwi Solution Pvt Ltd. in Chennai and Raphael James Rozario at Kochi.
Congress-backed news channel in Kerala says its bank accounts frozen by tax authorities
Jaihind TV was recently in the news after the CBI issued a notice seeking details of the investments made in the channel by Karnataka Deputy Chief Minister D K Shivakumar in connection with a disproportionate assets case against the Congress leader. The channel's Managing Director B S Shiju said the action of the tax authorities was completely 'unexpected', and that too while the case related to it was pending in the High Court.
For a change, an Adani business gets love from opposition parties
The Adani Group's new port in Vizhinjam, Kerala, which was constructed as a public-private partnership, has garnered praise and celebration from opposition parties. This is unusual given that the Adani Group has faced criticism and controversy in recent years. The port, strategically located between the Suez Canal and the Strait of Malacca, is expected to boost India's container and cargo traffic and position the country as a major player in global sea trade.
ED freezes Rs 143-crore assets of Manappuram Finance MD & CEO in money laundering case
The case pertains to allegations of money laundering through "illegal" collection of deposits from the public, the agency said in a statement.
Encouraged by PM's visit, BJP plans Kerala outreach on multiple themes
The CPM's intensified efforts under the second Pinarayi Vijayan government to carve out a support base among the Muslims, and the Congress-led UDF's exertion to hold on to this base, also plays out in BJP's plans. "The Kerala CPM is going out of the way to woo the Muslim sections, even by cooperating with the SDPI (the political outfit of the banned PFI) and the Congress is desperate to hold on to its Muslim vote-back.
Chinese loan apps case: Karnataka HC says investigation must for Kerala-based firm
The assistant director of the Directorate of Enforcement (ED) passed an order on September 2, 2022, freezing the bank account of Inditrade Fincorp under the Prevention of Money Laundering Act
Anti-sea port stir: All-party meet unanimous on ushering in peace
The State government called for the all-party meeting after a mob vandalised the Vizhinjam police station and attacked and injured around 40 officials. The police resorted to lathicharge to disperse the mob. A case in this regard was registered today arraigning over 3,000 identifiable people from the region. Police, in the FIR, said around 3,000 people gathered at the station on Sunday to release one accused in a case registered on Saturday and other suspects - Leo Stanley, Muthappan, Pushparaj and Shanki - who were taken into custody.
India's electric vehicle boom is built on mopeds and rickshaws, not Teslas
India’s success with the low-cost vehicles is also providing a template for how developing countries could ditch combustion engines and combat climate change without pricey electric cars.
Crypto breaks ranks on Russia; Rajeev Misra to oversee SoftBank’s Latin American team
Large crypto companies such as Coinbase and Binance are breaking ranks with mainstream finance, saying they don’t plan on “preemptively” banning all Russians from using their platforms.
Kerala Polls: Last-minute under-currents may turn the tide
With just 24 hours left for polling, it's all about political under-currents, which is likely to decide the eventual winner. Polls will start at 7 a.m on Tuesday and end at 7 p.m which will seal the fate of the candidates in the 140 assembly constituencies in Kerala.
18 midcaps and smallcaps top brokerages are betting on for 2021
Analysts said the ongoing momentum in second-rung stocks is likely to continue in 2021.
Guardians of global economy to meet under cloud of historic recession
The International Monetary Fund and World Bank will hold their annual meetings, with both calling on the Group of 20 largest economies to extend a freeze in debt payments from the world’s poorest nations that’s set to expire at year end.
Remittance boom is turning into a bust for emerging markets in Asia
India is the world’s top recipient of transfers and a leading supplier of labor to the gulf; it took in $83 billion last year, exceeding the $51 billion it took in as foreign direct investment.
View: Coronavirus lockdown is a $28 billion gig-loan buster
While many countries in Asia, Africa and Latin America also use microcredit to grease consumption at the bottom of the pyramid, India’s banks and shadow financiers are already reeling under a severe crisis of confidence.
Nuns in Kerala are taking on the influential Catholic Church for justice
The five sisters belong to the Missionaries of Jesus, a Latin Catholic order set up in Jalandhar in 1993, headquartered there and with three convents in Kerala.
PM's refusal to meet Kerala delegation insult to state: Oommen Chandy
On the issue of bad debts, Chandy asked how can the Union government justify the decision to freeze Rs 7,000 crore or more loans of 63 willful defaulters?
Kerala Polls: Politics of Left, Right & Centre in the state
The BJP has always taken part with gusto in Kerala polls, but this year, emboldened by the Narendra Modi factor, it has stitched together an NDA with a slew of caste organisations and is going in for the kill.
Empowered by Kudumbashree movement, Kerala's women are making their presence felt
Under Kudumbashree, women have become taxi and bus drivers, construction workers, started farming operations and making food products and footwear.
Kerala, one of the highest consumers of alcohol, to bid goodbye to booze
Kerala State Beverages Corporation (Bevco) will close down 10 % of its outlets every year. Bevco has 338 outlets while the Consumerfed has 46 outlets.
One thing’s sure: The next Ernakulam MP will be Latin Catholic
Both Congress-led United Democratic Front and Left Front invariably select a Latin Christian to represent them in a constituency that also encompasses the state’s most cosmopolitan city, Kochi.
Federal Bank to recruit 3,000 employees in next three years
Since the last three years, around 3,000 employees have been recruited and plans are on to employ another 3,000 in the next three years.
Switzerland's oldest bank shuts down. Does it mean the end of super-secret banks?
The age of super-secret banks is over? There are countries which allow the super rich to park money in their banks.
Federal Bank-Catholic Syrian Bank merger hits a wall
The long-drawn effort to merge Catholic Syrian Bank (CSB) with Federal Bank may not take off due to differences over valuation, according to sources close to the development.
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