UPPAL
SBI manager in Telangana arrested for siphoning Rs 3.3 crore
SBI Ramanthapur branch manager, Ganga Mallaiah Bhageeratha, was arrested for siphoning Rs 3.3 crore from customers' loan accounts. He transferred the funds to personal and family accounts. Accused of cheating and forgery, Bhageeratha and Shaik Saidulu from CAG Banjara Hills branch manipulated loan approvals with fake documents, tricking account holders into transferring excess funds. Bhageeratha is in judicial remand.
Is the 45-day payment rule helping the MSEs?
The 45-day rule for expediting payment to MSEs has led to price cuts of 3-5% as big brand retailers demand concessions due to shorter payment cycles.
Yuvraj Singh sends notices to real estate firms for infringement of privacy, delayed home possession
According to the notice, the cricketer had booked a dwelling unit in 2020 at Hauz Khas, New Delhi in one of the projects of a real estate firm. M/s Brilliant Etoile Private Limited and M/s Uppal Housing Private Limited are the noticees in one of the legal notices pertaining to the delayed possession of the dwelling units.
Indian telecom sector may see FDI revival from FY25
India's telecom sector anticipates a surge in foreign direct investment (FDI) over the next two years following recent policy changes. The opening of satellite communications and the introduction of the Telecommunications Act are expected to attract investment and enhance sectoral appeal. Despite a recent FDI decline due to domestic funding availability and sporadic investments, experts foresee increased FDI inflows with these regulatory reforms, signaling potential growth opportunities for the industry.
Mahadev app case: ED files fresh charge sheet in money laundering matter
The Enforcement Directorate (ED) has filed a fresh charge sheet in a money laundering case related to alleged illegal betting and gaming through the Mahadev online book app. The agency will share the second prosecution complaint with Dubai authorities to secure the deportation or extradition of the two main promoters, Ravi Uppal and Sourabh Chandrakar.
Two militant leaders held in Tripura
Two leaders of the banned National Liberation Front of Tripura (NLFT) were arrested by the police in Western Tripura after entering the state from Bangladesh through a clandestine route. The arrested leaders, Sachin Debbarma and Uppal Debbarma, had recently been released from jail in Bangladesh after spending several years in prison.
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Ravi Uppal, key accused in Mahadev betting app arrested by Dubai Police, to be extradited to India
According to the sources, the arrest was made by Dubai police on the basis of a red corner notice issued by Interpol at the behest of ED. Uppal will be extradited to India soon. In the Mahadev betting app case, there are allegations of fraud of 15,000 crore rupees along with match-fixing, illegal hawala, and cryptocurrency transactions.
Mumbai police book 32 in Mahadev betting app under fraud and gambling
Mumbai police have filed a case against 32 individuals, including the Mahadev betting app promoters, under fraud and gambling charges, following a complaint by social worker Prakash Bankar. The accused reportedly received money through hawala transactions. Meanwhile, the Directorate of Enforcement is investigating the Mahadev Book Online Betting APP syndicate for alleged remote operation and financial irregularities.
From juice shops to a billion Rupee empire: The shocking Mahadev betting app scandal unveiled
Former small business owners Sourabh Chandrakar and Ravi Uppal are being investigated for their involvement in a money laundering scheme linked to the Mahadev online betting app. The duo, who previously ran a juice shop and a tire shop, transitioned to operating a massive online betting empire. The Enforcement Directorate (ED) estimates that the scandal involves around Rs 5,000 crore. Chandrakar and Uppal are currently being sought by the ED, which has issued non-bailable warrants for their arrest.
ED seizes Rs 417 crore in connection with betting app Mahadev; what we know about the case so far
The Enforcement Directorate has seized assets worth Rs 417 crore from locations linked to the betting app Mahadev. The app, started by Sourabh Chandrakar and Ravi Uppal, is accused of aiding illegal betting websites and laundering money through benami bank accounts. The ED has conducted searches in multiple cities and arrested four accused so far.
Mahadev betting case: ED seizes assets worth Rs 417 crore
The company promoted by Sourabh Chandrakar and Ravi Uppal, which was running operations from Dubai, was allegedly using the online book betting application to enrol new users, create user IDs and launder money through a layered web of benami bank accounts, they alleged.
HK's Risland gets nod to resume realty project, sales in Delhi
Delhi's Real Estate Regulatory Authority (RERA) has allowed Risland Holdings, a Hong Kong-based company, to resume construction and sales of its luxury project in South Delhi. The project had been halted for nine months due to expired documentation and a land ownership dispute. Now that the building plans have been revalidated, the company can proceed with the work and collect instalments from buyers.
EV maker One Electric launches three new models with an eye on the global market
The newly launched vehicles include two motorcycles and a scooter. These will target the bike taxi, last mile deliveries and affordable city commuter segments.
NGT slaps Noida-based realtor with Rs 113.25 crore fine, raps ED for delayed action
The ED has "forgotten to take note" that the scope of the Prevention of Money Laundering Act (PMLA) has been widened and revenue earned by committing such crimes is proceeds of crime as defined in the law, the National Green Tribunal said.
Qatar, UAE energy ministers say gas will be needed for long time
Saad al-Kaabi, Qatari state minister for energy, told the Global Energy Summit in Abu Dhabi that gas "is not a transition fuel" but a destination fuel, adding it was unfair for some in the West to say African countries should not be drilling for oil and gas.
Cold wave sweeps Telangana, mercury drops below 5 degrees
The India Meteorological Department (IMD) has issued an orange-coded alert for Adilabad, Komaram Bheem Asifabad, Mancherial, Nirmal, Karimnagar, Peddapally, Jagityal, Rajanna Sirsilla, Medak, Kamareddy and Nizamabad districts. Parts of Hyderabad and outskirts are under the spell of severe cold weather. Areas like Secunderabad, Rajendranagar, L. B. Nagar, Karwan, Uppal dropped to single digit.
IMF says up to 20 countries could require emergency assistance to ease food crisis
IMF Managing Director Kristalina Georgieva, speaking at a conference in Saudi Arabia, also said that 141 million people across the Arab world are exposed to food insecurity.
Risland’s south Delhi project under RERA scanner over land dispute
The authority also directed the Municipal Corporation of Delhi (MCD) to ensure that building by-laws are followed, a step that could lead to the halting of construction. The building sanction plan and the RERA registration for the project have expired and both the civic body and the RERA are not extending them due to a dispute over the ownership of the land.
BSNL's road to revival challenging: Analysts
The announcement of the revival package for ailing BSNL came at a time when private telecom players are close to launching next generation 5G services while BSNL is yet to launch 4G mobile services.
Trai looking at easing spectrum sharing rules
Unlike spectrum trading, dynamic spectrum sharing is a kind of leasing and allows telecom companies to share their unused airwaves with their peers on a real-time basis, allowing intra-circle rights, experts said.
E-motorcycle maker One Electric expands exports to 8 countries with Dubai operations
The electric motorcycles maker already has operations in five African countries, the USA, and Nepal, besides India. It plans to ramp up business to 20,000 units a month across three continents by the end of this year, as per a press statement.
Ramky Estates to develop office space for Genpact at Uppal, Hyderabad
The joint venture agreement includes REFL to develop Grade A offices for Genpact to expand its look at expanding its operations and IT footprint and to cater to its growing business needs.
After Airtel, Vodafone Idea reduces benefits for corporate postpaid users
Bharti Airtel had last week increased the entry level postpaid plan for its enterprise customers and tweaked offers to its retail ones to push them onto higher-priced plans. The move is aimed at increasing average revenue per user (ARPU)
One Electric starts exporting electric motorcycles to Africa, eyes expansion
One Electric has become one of the first Indian electric vehicles (EV) makers to export its vehicles to Africa as deliveries of its flagship motorcycle Kridn begin in Kenya, the company said Friday.
IndoSpace acquires 135 acre in Gurugram for Rs 280 crore, to develop logistic park
Indospace has also partnered with Haryana, Maharashtra, Karnataka and Tamil Nadu to develop industrial and warehousing parks.
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