Aircel, two sister entities under SFIO lens for financial irregularities

The Serious Fraud Investigation Office (SFIO) is probing alleged financial irregularities at debt-laden Aircel as well as two group entities -- Aircel Cellular and Dishnet Wireless, according to a senior official. The official said the Corporate Affairs Ministry has ordered a probe by the SFIO into the affairs of the three companies. 

In February, Aircel announced filing for bankruptcy as the company was facing "troubled times" in "highly financially stressed" industry. Intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant "negative business and reputational impact" on the company, it had said. The SFIO is a multi-disciplinary organisation, under the ministry, which probes white-collar crimes and frauds that are in violation of Companies Act.

INX Media case: HC grants P Chidambaram interim protection till July 3

The Delhi High Court on Thursday granted former Union minister P Chidambaram interim protection from arrest till July 3 in the Central Bureau of Investigation's INX Media corruption case.

Justice A K Pathak asked Chidambaram to join and cooperate in the questioning session as and when called by the CBI.

The court also sought the investigating agency's response on the Congress leader's anticipatory bail plea and listed the matter for further hearing on July 3.

Additional Solicitor General Tushar Mehta, appearing for the CBI, opposed the anticipatory bail plea saying he was merely called for questioning.

Chidambaram had on Wednesday rushed to a trial court for protection from arrest in Aircel-Maxis case before approaching the Delhi High Court in connection with the INX Media case, in which he has been asked by probe agencies to join investigations.

IDBI Bank fraud case: CBI probes documents on loans to Aircel ex-promoter

IDBI Bank today said the CBI has examined documents related to its loan exposure to the companies of former Aircel promoter C Sivasankaran.

The state-owned bank had given a loan to Axcel Sunshine Ltd in February 2014, which had turned into a non-performing asset (NPA) or bad loan in December 2015, IDBI Bank said in a regulatory filing.

It was responding to exchanges with regard to a news article that the CBI has booked ex-Aircel (telecom firm) promoter Sivasankaran's firms in Rs 600 crore loan fraud case.

"CBI in this context has been examining certain documents relating to the loan given by IDBI Bank and have spoken to the senior officers of the bank, who had handled the case," IDBI Bank said.

"The officers are providing the requisite information and clarification to the investigating authorities," it added.

Karti Chidambaram in CBI custody till Mar 6; Swami calls it right decision

While businessman Karti Chidambaram was on Thursday remanded in CBI custody for five days by special CBI judge Sunil Rana, it emerged that CBI might also soon question Karti’s father, former finance minister P Chidambaram, in the INX Media bribery case. Meanwhile, BJP leader and Chidambaram critic Subramanian Swamy called the court decision the right move.

“Former finance minister P Chidambaram will be summoned to the agency headquarters here and questioned soon. Although he is not named as accused, his role in the grant of irregular FIPB (Foreign Investment Promotion Board) clearance to INX Media is part of the FIR,” a New Indian Express report quoted a senior CBI official supervising the probe as saying.

In the hearing of the INX Media case, the agency accused Karti earlier in the day of being the ‘prime conspirator’ and the ultimate beneficiary in the payoff scandal.
Appearing for Karti Chidambaram in the hearing, lawyer and Congress party member Abhishek Manu Singhvi attacked CBI for relying on the statement of controversial INX media founders Peter and Indrani Mukerjea, the latter in jail as an accused in the murder of her daughter Sheena Bora.

CBI raid reveals AAP minister Satyender Jain owns property worth millions

The CBI on Sunday said it has recovered documents related to property and bank transactions worth millions allegedly linked to Delhi Health Minister Satyendar Jain during searches at residences of a registrar and a lawyer of Delhi Dental Council in a bribery case.

The CBI has registered a case under sections of the Prevention of Corruption Act and the Indian Penal Code against the two officials on the allegations of demanding bribe from the complainant for getting him favourable order from the DDC and also for extending help in further legal proceedings in his matter, said officials.

Agency sleuths laid a trap and caught the accused while demanding and accepting a bribe of Rs 473,000 from the complainant on Saturday night. The arrested accused were produced in a court here on Sunday which sent then to four days police custody.

Will release all John F Kennedy files to end 'conspiracy theories': Trump

US President Donald Trump today said he will release all files associated with the assassination of former president John F Kennedy to end all "conspiracy theories".

Trump said this in a tweet a day after the National Archives, at his direction, released more than 2,800 secret files related to the assassination of Kennedy on November 22, 1963.

At the same time, he agreed to the request from various intelligence and security agencies mainly FBI and CBI, to withhold quite a number of such files, which remains away from the public domain, thus increasingly providing fodder to conspiracy theories.

In his tweet, Trump said after strict consultation with his Chief of Staff, General John Kelly, the CIA and other agencies, "I will be releasing ALL JFK files" other than the names and addresses of any mentioned person who is still living.

"I am doing this for reason of full disclosure, transparency and in order to put any and all conspiracy theories to rest," Trump said, a day after he ordered a large number of JFK files still be under the wraps.

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INX media case: Karti is not a 'fugitive of justice', lawyer Sibal tells SC

In a hearing of the INX media case on Tuesday, Karti Chidambaram's lawyer Kapil Sibal told the Supreme Court that the former is not a "fugitive of justice".

The case against Karti, which pertains to allege that he illegally took service charges for getting the FIPB clearance to INX Media for receiving funds from abroad worth Rs 305 crore in 2007 when his father P. Chidambaram was the finance minister in Congress-led United Progressive Alliance's rule, was heard by a three-judge bench headed by Chief Justice Dipak Misra.
Arguing in the court against the lookout notice used by Central Bureau of Investigation (CBI), which prevents Karti from travelling outside India, Sibal told that though Karti went abroad but he came back to India again.

Sibal told the court that the Centre had pressurised the foreign bank to close Karti's account in United Kingdom, so he had to take money out of it during his last visit to the country.

The senior lawyer further argued that there is just an FIR against karti in the INX media case and nothing has been proved against him yet.

Denying Central Bureau of Investigation's (CBI) allegation of multiple foreign bank accounts, Karti earlier told the Supreme Court that he had only one account in the United Kingdom's Metro Bank and one property in that country.
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AgustaWestland VVIP choppers: ED seeks extradition of arrested middleman

Wanted European middleman Carlos Gerosa has been apprehended by authorities in Italy on the basis of an Interpol notice activated by the ED in connection with its money laundering probe in the Rs 3,600 crore AgustaWestland VVIP choppers deal case.

The central probe agency, official sources said, will soon move for his extradition to India through diplomatic channels.

"Gerosa has been held in Italy few days back on the basis of an Interpol notice activated by the ED last year. The global police has informed the agency of his detention and an extradition request is being moved," a senior official privy to the probe said.

The official said Gerosa was held when he was coming from Switzerland to Italy.

A joint team of the ED and the Central Bureau of Investigation (CBI) is now working on this case, the official said.

Gerosa, 70, is one of the three alleged middlemen wanted in this case and his interrogation and statement is very important for both the Enforcement Directorate (ED) and the CBI who are probing the case.
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SIT begins probe into Gauri murder, family against giving political colour

Investigators from the IG-headed SIT on Thursday pored over the CCTV footage of the scene of murder of activist-journalist Gauri Lankesh for clues in the hunt for the killers even as her family spoke against giving "political colour" to the incident.

The brother and sister of 55-year-old Gauri, who was gunned down at her home on Bengaluru on Tuesday night, also appeared divided on the probe with the former saying he would approach the CBI or a court if they don't get justice from investigations by the SIT.

As outrage across the country over the murder grew, Union minister Ramdas Athawale demanded that the killers be immediately arrested and hanged. He also said there was no need for levelling political allegations over the incident.

The Karnataka government on its part said it was hopeful of nabbing the assailants "as soon as possible."

Protest rallies and candlelight vigils were also held for the second day today in several cities. "We need a CBI probe into the murder," said a student protester in Kolkata.
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Fake and cheap China-made spares used for indigenised Bofors guns: CBI

China-made parts camouflaged as 'Made in Germany' found their way to the production line of indigenised Bofors guns used by the army, prompting the CBI to file a case against a Delhi-based company.

Besides Sidh Sales Syndicate, the CBI also registered a case against unidentified officials of the Guns Carriage Factory (GCF), Jabalpur, under criminal conspiracy, cheating and forgery for supplying fake and cheap China-made spares passing off as Made in Germany for Dhanush guns, the FIR alleged.

Dhanush is the indigenised version of the Bofors artillery guns which performed exceedingly well during the Kargil conflict in 1999.

The CBI alleged that the supplier entered into criminal conspiracy with the unidentified GCF officials to supply duplicate spare parts (bearings) used in the manufacture of Dhanush guns.

"In furtherance of the said criminal conspiracy, unknown officials of GCF accepted the Chinese manufactured 'Wire Race Roller Bearings' supplied by Sidh Sales Syndicate which were embossed as 'CRB-Made in Germany'," the CBI said in the FIR.

The agency said production and performance of the Dhanush gun is extremely crucial for India's defence preparedness and "wire race roller bearing" is its vital component.

A tender was floated for the procurement of four such bearings according to the Rothe Erde drawing for 155 mm gun in which four firms had participated. The order was given to Sidh Sales Syndicate at the value of Rs 35.38 lakh in 2013, the FIR stated.
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CBI detects over 300 shell companies used to divert money worth Rs 2,900 cr

A complex web of 393 shell companies used for allegedly diverting funds unscrupulously to the tune of Rs 2,900 crore has been unearthed by the CBI during its probe into such cases over the last three years.

CBI sources said the shell companies were allegedly being used by the accused to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money.

Round-tripping is sending money abroad to tax havens in the guise of payments for fake imports through shell companies and bringing back that money showing it as foreign investment.

The findings of the CBI are just a tip of the iceberg as these are only those cases where the agency has been able to find legally-tenable evidence of money trail, cheating and diversion of funds to cheat the banks, said the sources not willing to the named.

The murky activities have been exposed during the CBI probe into various loan fraud cases involving 28 public sector banks and one private bank, the sources said.

Besides this, the agency is probing about 200 cases involving funds of at least Rs 30,000 crore, the sources said.

The CBI is prosecuting these companies for corruption and scheduled offences associated with it.

In addition, it will also refer these cases to other investigating agencies for action under other laws like Companies Act, Prevention of Money Laundering Act, Benami Transactions (Prohibition) Act and the Income Tax Act etc, the sources added.

The agency has not only "exposed" these shell companies but also gathered enough material which would "plug" the possibility of them being used for any further operation, the sources claimed.
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