ED files charge sheet against Mallya, others in KFA-IDBI PMLA case

Agencies
June 14, 2017

Lucknow, Jun 14: The Enforcement Directorate (ED) on Wednesday filed a charge sheet against absconding liquor baron Vijay Mallya and others in connection with the Rs 900-crore money laundering case in the IDBI Bank-Kingfisher Airlines loan case.

mallya copy

The development comes a day after the now London-based 61-year-old Mallya, before Westminister Magistrate Court, claimed that he had “enough evidence” to defend himself in the extradition case brought by the Indian government. “Keep dreaming about billions of pounds,” he even taunted outside the courtroom.

The Indian government is seeking his extradition from United Kingdom in loan default to the tune of Rs 9,000 crore involving several banks in connection with the money that he reportedly raised for the now defunct Kingfisher Airlines (KFA). In India, he is being probed by the ED and the CBI on charges of violation the Prevention of Money Laundering Act (PMLA).

However, on Wednesday, when the ED filed the charge sheet, it comes as a jolt to him.

The 57-page charge sheet with voluminous annexures has provided details of the manner in which the loan was approved and subsequently diverted for money-laundering purposes violating norms.

According to the ED, in October 2009, the IDBI had granted a short-term loan of Rs.150 crore to the KFA, followed by another loan of Rs.750 crore, including a bridge loan of Rs.200 crore, without adequate collateral and flouting norms and procedures.

The charge sheet also mentioned the role of KFA and IDBI executives who were probed by the ED and they had criminally conspired to obtain funds to the tune of Rs 860.92 crore despite weak financials, negative net-worth, non-compliance of corporate credit policy of new client, non-quality collateral security and low credit rating of the borrower. Out of which Rs 807.82 crore of principal amount remains unpaid, according to the investigations.

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News Network
June 26,2020

Jun 26: The Supreme Court on Friday permitted the Centre and the CBSE to cancel the remaining board examinations due to the COVID-19 pandemic and gave the go-ahead for the scheme to award marks to students for the cancelled papers scheduled to be held in July.

A bench of Justices A M Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna permitted the CBSE to issue a notification for the cancellation of the examinations.

Solicitor General Tushar Mehta, appearing for the Centre and the CBSE, said that the assessment scheme would consider marks scored by students in the last three papers of the board exams.

Both CBSE and ICSE told the top court that the results of the class X and XII board exams can be declared by the middle of July.

The top court was hearing pleas seeking relief, including scrapping of remaining exams of Class 12 scheduled from July 1 to 15, in view of increasing number of COVID-19 cases. Similar relief was sought by the ICSE Board also.

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News Network
June 3,2020

New Delhi, Jun 3: Over 1 lakh scanned copies of Indians' national IDs, including Aadhaar, PAN card and passport, have been put on dark web for sale, cyber intelligence firm Cyble said on Wednesday.

The leaked data seems to have originated from a third party and not from the government system, according to a report by Cyble.

"We came across a non-reputed actor who is currently selling over 1 lakh Indian National IDs on the dark net. With such a low reputation, ideally, we would have skipped this; however, the samples shared by the actor intrigued our interest -- and also the volume. The actor is alleged to have access to over 1 lakh IDs from different places in India," Cyble said.

The personal data leaked by cyber criminals leads to various nefarious activities such as identity thefts, scams, and corporate espionage. Many criminals use the personal details in the IDs to win trust of the people over a phone call for fraudulent activities.

Cyber criminals leak personal data of 2.9 cr job-seeking Indians on dark web for free

The Cyble researchers acquired around 1,000 IDs from the seller and confirmed that the scanned IDs belong to Indians.

"Preliminary analysis suggests that the data originated from a third party, and no indication or artefact is indicating that it came from a government system. At this point, Cyble researchers are still investigating this further -- we are hoping to share an update soon," Cyble said.

The scanned ID documents indicate that the data may have been leaked from a company's data base in the segment where they have to comply with 'Know Your Customer' (KYC) norms.

"Cyble researchers have also learned about a surge in KYC and banking scams -- leaks such as this are often used by scammers to target individuals, especially elderlies," Cyble said.

The cyber intelligence firm has recommended people to refrain from sharing personal information especially financial information over phone, e-mail or SMS.

"Regularly monitor your financial transaction, if you notice any suspicious transaction, contact your bank immediately," the company said.

In May, Cyble showed two instances where personal data of 7.65 crore Indians have been put on sale in the dark web. In one instance, the seller claimed to have sourced data of 4.75 crore Indians from online directory Truecaller and in other, the seller claimed to have sourced from job websites.

Truecaller, however, had denied the claim of breach in its database.

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News Network
July 16,2020

New Delhi, Jul 16: The Rajasthan High Court will hear Thursday afternoon a petition filed on behalf of the Sachin Pilot camp, challenging a move to disqualify dissident MLAs from the state assembly.

The plea against the disqualification notices sent from the Speaker’s office to Pilot and 18 other Congress MLAs will be heard by Justice Satish Chandra Sharma.

The 19 MLAs were sent notices Tuesday by the Speaker after the Congress complained that the MLAs had defied a party whip to attend two Congress Legislature Party meetings. 

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