ED Can’t Arrest Once Court Has Taken Notice of Complaint: SC
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ED Can’t Arrest Once Court Has Taken Notice of Complaint: SC

In a significant ruling the Supreme Court on Thursday ruled that Enforcement Directorate cannot arrest an accused booked under the prevention of Money Laundering Act (PMLA) once the court had taken cognizance of its prosecution complaint (equivalent of a charge sheet) The Supreme Court made it clear that in case Where an accused was not…

Nepalese Citizens’ Plea Puts I-T in Dock for invoking Black Money Act  
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Nepalese Citizens’ Plea Puts I-T in Dock for invoking Black Money Act  

In a development which would decide whether foreigners can be booked under India’s Black Money Act, two Nepalese citizens have challenged the Income Tax (I-T) department which invoked the harsh statute to serve them notices. According to the tax office, the law can be used against anyone who is a ‘resident’ a status an individual,…

Mahadev Scam: Accused Firm Had Share Purchase Pact with Delta
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Mahadev Scam: Accused Firm Had Share Purchase Pact with Delta

The Enforcement Directorate’s (ED) investigation into the multi-crore Mahadev illegal betting application scam has revealed that one of the accused firms, Ability Games Ltd, entered in to a share purchase agreement with Del ta Corp-a listed company engaged in the casino gaming industry in India, to sell its Nepal-based casino business, court documents reviewed by…

ICAI Lens on Big Four Affiliates over their Association with Global Entities
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ICAI Lens on Big Four Affiliates over their Association with Global Entities

The Big Four affiliate firms doing audits are poised for a drawn-out legal clash with The Institute of Chartered Accountants of India (ICAI), centering on association with global entities, resource sharing and control, and referral fees, prompted by the institute’s disciplinary committee directive to EY affiliates to cease existing arrangements with multinational entities (EY Global),…

NCLT Admits Indiabulls Hsg Fin Insolvency Plea against Chandra
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NCLT Admits Indiabulls Hsg Fin Insolvency Plea against Chandra

 The bankruptcy court has ad- mitted Indiabulls Housing Finance Ltd’s (IHFL) application to initiate insolvency resolution proceedings against Essel Group chairman Subhash Chandra for default by a company called Vivek Infracon. Chandra was a personal guarantor against the loans availed by the company. The New Delhi bench of the National Company Law Tribunal (NCLT) presided…

ED Attaches Raj Kundra’s Assets Worth ₹97.8 Crore
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ED Attaches Raj Kundra’s Assets Worth ₹97.8 Crore

The Directorate of Enforcement (ED) Thursday said it has provisionally attached immovable and movable properties worth *97.79 crore belonging to businessman Ripu Sudan Kundra, aka Raj Kundra, un- der provisions of the Prevention of Money Laundering Act (PMLA), 2002. Kundra is the husband of Bollywood actress Shilpa Shetty. The agency said the attached properties include…

Indiabulls HF Seeks Review of SC Order on ED’s Powers
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Indiabulls HF Seeks Review of SC Order on ED’s Powers

Indiabulls Housing Finance has sought a review of the Supreme Court’s February order that allegedly gave wide powers to the Enforcement Directorate to even investigate cases where there exists no scheduled offence under the Prevention of Money Laundering Act (PMLA). A bench led by Justice Surya Kant asked the company to share a copy of…

Cong Moves Delhi HC in Tax Penalty Case
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Cong Moves Delhi HC in Tax Penalty Case

Congress on Monday moved the Delhi High Court, challenging the dismissal of its plea by the Income Tax Appellate Tribunal (ITAT) against the imposition of penalties for discrepancies in certain tax returns. The matter was mentioned by senior advocate Vivek Tankha before a bench of acting chief justice Manmohan and justice Tushar Rao Gedela. Tankha…

AAP Govt to Give ₹1,000/M to Women Above 18 Years, Keeps Out I-T Payers
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AAP Govt to Give ₹1,000/M to Women Above 18 Years, Keeps Out I-T Payers

Putting women at the centre of its budget, the Aam Aadmi Party (AAP) government on Monday promised Rs 1,000 per month to all women above 18 years of age for the 2024-25 fiscal in the national capital. Presenting the budget 2024-25, Delhi finance minister Atishi announced the Mukhyamantri Mahila Samman Yojana under which the AAP…

No Customs Duty on Rare Diseases Drugs: Delhi HC
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No Customs Duty on Rare Diseases Drugs: Delhi HC

Customs duties and charges shall not be levied on medicines, drugs and therapies for rare diseases, the Delhi High Court has clarified in a recent order. Justice Pratibha Singh said that whenever medicines are brought in respect of rare diseases, the custom authorities will ensure that the same are cleared quickly and no unnecessary impediments…