India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
MUMBAI: Markets watchdog Sebi has confirmed reports in a section of the media that it had carried out raids in multiple locations and on multiple shell companies for what it considers to be cases of pump and dump scams. "Sebi has conducted search and seizure operations at multiple locations in June in connection with pump and dump in certain scrips and has seized incriminating evidence," Sebi said in a statement Friday, confirming various news reports regarding its raids in the pump and dump scam. "Further investigation in the matter is under progress," the regulator added in the statement without offering any more details such as the number of companies raised or the value of the alleged scam etc. Some section of the media has been reporting since last week that Sebi raided around two dozen shell companies involved in the Rs 300-crore pump and dump' scheme across Ahmedabad, Mumbai and Gurugram. These raids are one of the biggest in Sebi's history in terms of monetary value.
Mumbai (Maharashtra) [India], June 27 (ANI): Confirming certain media reports, the Securities and Exchange Board of India (SEBI) on Friday stated that it had conducted search and seizure operations at multiple locations in June, 2025 in connection with a pump-and-dump scam involving certain stocks. In a statement, the markets regulator said it had seized incriminating evidence during the raids and that an investigation is ongoing. 'Various news reports have appeared in media regarding Securities and Exchange Board of India (SEBI) raids in the matter of pump and dump scam. It is hereby clarif ...Read More >
Hyderabad (Telangana) [India], July 5 (ANI): Telangana BJP president N Ramchander Rao on Saturday accused the Congress of misleading the country with its claim that the BJP-led government at the Centre wants to change the Constitution. He added that AICC has now become the 'All India Cheating Congress'. "The words 'secular' and 'socialist' were not there in the Constitution. It was added after the 42nd Amendment. The Amendment was brought during the Emergency. Emergency was a black day in the democratic history of our country. So, the original Constitution did not have the words 'secular' and ...Read More >
Mumbai: The income tax (IT) department conducted raids at over 150 locations across the country against false tax deduction disguised as political donations as well as educational and medical expenses. The investigation has revealed that employees of government bodies, public sector undertaking (PUS), multinational companies, academic institutions and entrepreneurs were a part of these organised rackets. On Monday, the IT department initiated a large-scale verification operation across multiple locations in the country, targeting individuals and entities facilitating fraudulent claims of dedu ...Read More >
VIJAYAWADA: YSRCP MP P V Midhun Reddy was arrested by Andhra SIT late on Saturday after nearly seven hours of questioning in the alleged Rs 3,200 crore liquor scam. The arrest comes after the anticipatory bail petitions of Mithun Reddy were rejected by AP high court and Supreme Court, reports Madhu Rasala.He is the second politician to be arrested in the alleged scam that took place during the previous YSRCP rule. With the latest arrest, the number of accused arrested so far has increased to 12.E ...Read More >
Palghar, Maharashtra: The Directorate of Enforcement (ED), Mumbai Zonal Office, has intensified its probe into the multi-crore Vasai-Virar City Municipal Corporation (VVCMC) construction scam, conducting a major search operation across 12 locations in Mumbai, Pune, Nashik, and Satara on July 29, 2025. The raids were carried out under the Prevention of Money Laundering Act (PMLA), 2002, in connection with the case involving Jayesh Mehta and others, including senior VVCMC officials. The searches led to the seizure of ₹1.33 crore in cash and a large cache of incriminating documents and digital e ...Read More >
New Delhi [India], December 4 (ANI): The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India. The complaint alleged that unknown ...Read More >
Chandigarh: Haryana chief minister Nayab Singh Saini on Tuesday said the state govt was consistently working to provide better resources to the doctors and quality healthcare services to the citizens.He mentioned that medical colleges were being established in every district.While there were only six medical colleges in 2014, the number has now increased to 15, and nine new colleges are under construction. As a result, MBBS seats in the state increased from 700 in 2014 to 2,185, at present. The state govt aims to increase the MBBS seats to over 3,400 by 2029, said Saini.The CM was addressing a ...Read More >
Mumbai, July 3 (SocialNews.XYZ) The Enforcement Directorate (ED) has intensified its probe into the Vasai-Virar Municipal Corporation (VVMC) land scam, conducting fresh search operations at 16 locations across Mumbai on July 1 under the Prevention of Money Laundering Act (PMLA), 2002. The searches, linked to the case involving Jayesh Mehta and others, resulted in the freezing of assets worth approximately Rs 12.71 crore in bank accounts, fixed deposits, and mutual funds, along with the seizure of Rs 26 lakh in cash and a trove of incriminating documents and digital devices, a statement issued ...Read More >
Dehradun, July 7 (UNI) Uttarakhand police arrested a wanted Chartered Accountant who cheated several Indians of Rs 750 crore with the help of his Chinese associates using shell companies. The accused was absconding for more than two years and was trying to flee to Thailand when a team of Uttarakhand STF arrested him from the Indira Gandhi International (IGI) Airport Delhi. According to Uttarakhand Special Task Force (STF) officials, Chartered Accountant Abhishek Agarwal was arrested from IGI Airport yesterday as he was all prepared to flee India and take flight to Thailand. STF said a thorou ...Read More >
Hyderabad, July 18 (UNI) In view of the ongoing heavy rains in Hyderabad, Chief Minister A Revanth Reddy has directed all concerned departments to stay on high alert and ensure swift response to public grievances. The Chief Minister instructed officials from GHMC, HMDA, Water Works, Electricity, and Police departments to work in close coordination to prevent any rain-related disruptions. He also emphasised the need for immediate action in areas facing waterlogging, power outages, or other rain-induced issues. CM Revanth Reddy further directed the deployment of SDRF, NDRF, Hydra teams, and ot ...Read More >
Mumbai: The Enforcement Directorate (ED) has issued a Look Out Circular (LoC) against Anil Ambani, chairman of the Anil Dhirubhai Ambani Group (ADAG), in connection with its ongoing probe into an alleged Rs 17,000-crore bank loan fraud case. The LoC was issued on Friday at the request of the federal financial probe agency to prevent Ambani from leaving the country without prior clearance, senior officials confirmed. Ambani Summoned in ₹17,000 Crore Bank Fraud Investigation The ED has summoned the industrialist for questioning on August 5 as part of its investigation. According to officials, ...Read More >
In 2024, Arunachal Pradesh Police arrested the Jha brothers for their role in a Rs 100 crore ITC scam, marking an earlier instance of their involvement in tax fraud The Enforcement Directorate's (ED) probe into the Rs 650 crore Input Tax Credit (ITC) scam has uncovered a web of fake firms and hawala traders, where even the names of Seema Haider and her husband Sachin were allegedly misused. According to reports, two brothers from Bihar's Darbhanga, Ashutosh Jha and Vipin Jha, have emerged as ke ...Read More >
New Delhi, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
Mumbai: The Enforcement Directorate (ED) has summoned Bollywood actor Dino Morea and asked him to appear next week. He has been summoned in connection with the Rs 65 crore Mithi river desilting case, ED officials said. On Friday, the Enforcement Directorate (ED) conducted raids at fifteen locations in the Mithi river desilting case, including at actor Dino Morea's home in Mumbai. The raid comes days after the actor appeared before the Mumbai Police for questioning in a corruption case. His brot ...Read More >
Gurgaon: In Haryana, 90% of summons are now issued electronically, and 100% of searches and seizures by police during investigations are recorded digitally. Around 68% of witness and complainant statements are being captured using the eSakshya mobile application, standardising evidence collection and improving transparency across investigations. Under the new criminal laws, witness examination has now extended beyond traditional courtrooms, as witnesses can now be examined at "designated places" which include govt offices, banks, and other such places. A total of 2,117 designated places have b ...Read More >
Rohan Saldanha's mansion was filled with concealed staircases, underground corridors, and hidden rooms, all designed to help him evade arrest while running a multi-crore loan scam In a dramatic midnight raid, Mangaluru Police arrested 45-year-old Rohan Saldanha, a conman from the Jepinamogaru area, who allegedly defrauded ultra-wealthy businessmen and industrialists of hundreds of crores through a web of fake loans and real estate deals. Police say the scam may have touched Rs 500 crore, possibl ...Read More >
New Delhi [India], December 4 (ANI): The Enforcement Directorate (ED) seized cryptocurrency worth Rs 1.36 crore (USDT) from private wallets, along with unexplained cash amounting to Rs 47 lakh, during an investigation into a major money laundering case. The case pertains to cyber fraud involving illegal proceeds of approximately Rs 640 crore, generated through betting, gambling, part-time job scams, and phishing operations. The ED also recovered various incriminating documents linked to the fraud during its crackdown. Also Read | Banking Laws (Amendment) Bill, 2024 Set To Boost Consumer Expe ...Read More >
Bengaluru News: Amid a surge in cases of digital arrest across the nation, a 68-year-old senior citizen in Bengaluru reportedly lost Rs 1.94 crore to cyber fraudsters from his fixed deposit. The victim stated that the fraudsters claimed that they were from the Mumbai crime branch and threatened him with arrest if he did not pay the amount to them. The fraudsters allegedly held the man under digital arrest for almost a week and claimed that he was involved in a money laundering case linked to Indian businessman Naresh Goyal. The scam began on November 30 when the victim received a video call o ...Read More >
New Delhi, [India], July 5 (ANI): Nehal Deepak Modi, the brother of fugitive diamantaire Nirav Modi, allegedly played a crucial role in laundering proceeds of crime in the high-profile Rs 13,000 crore Punjab National Bank (PNB) fraud case as well as actively involved in the "disappearance and concealment of assets" and "destruction of evidence", officials said on Saturday. Also Read | Mumbai Ranked Among '100 Best Food Cities in the World' in TasteAtlas List; Six Indian Cities Make the Cut. The revelation comes after Nehal Modi was arrested in the United States on the basis of an extradition ...Read More >
The Income-Tax Department has found organised rackets operated by some returns preparers and intermediaries across the country, filing income-tax returns (ITRs) on behalf of their clients -- including employees of multinational companies, public sector firms, government bodies, academic institutions, and entrepreneurs -- to fraudulently claim exemptions and refunds, the Finance Ministry said. The department is now poised to take stern action against continued fraudulent claims, including penalti ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
The Calcutta High Court has granted bail to Partha Chatterjee, the former West Bengal minister, in connection with the teacher recruitment irregularities case. Justice Suvra Ghosh directed Chatterjee to surrender his passport and remain within the trial court's jurisdiction. As a Trinamool Congress MLA, he is barred from holding any public office while the trial is ongoing. The Calcutta High Court on Friday granted bail to former West Bengal minister Partha Chatterjee in connection with the teac ...Read More >
Patna: Jan Suraaj Party founder Prashant Kishor on Monday alleged that Bihar Deputy Chief Minister Samrat Choudhary had escaped trial in a decades-old murder case by "falsely" claiming to be a minor before the Supreme Court. Addressing a press conference here, Kishor said Choudhary's affidavit, filed in 2020 at the time of getting elected to the state legislative council, flew in the face of his earlier claim before the apex court, and demanded his "immediate dismissal". Choudhary, a former state BJP president who holds crucial portfolios like finance in the Nitish Kumar government, dismisse ...Read More >
The victim, who originally hails from Delhi and is currently residing in the Kharadi, had created a profile on the matrimony site seeking a prospective bridegroom. In 2023, she received a message claiming to be Dr Rohit Oberoi, an Australian citizen of Indian origin. Over time, the duo developed a close relationship. The accused visited her in Pune and other cities in India, further gaining her trust. The victim had previously received ₹5 crore as alimony after a divorce and was planning to st ...Read More >
New Delhi, Jul 5 (PTI) US authorities have arrested fugitive diamantaire Nirav Modi's younger brother, Nehal Modi, following extradition requests from the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), officials said on Saturday. Nehal Modi, who is the subject of a Red Notice issued by the Interpol, was taken into custody on Friday, US officials told Indian authorities. The next hearing in the matter is scheduled for July 17, during which Nehal Modi may seek bail -- a move expected to be contested by US prosecutors, the officials said. The arrest stems from a jo ...Read More >
New Delhi, Jul 5 (PTI) Fugitive diamantaire Nirav Modi's younger Brother, Nehal Modi, walked out of a US prison on Thursday after serving a nearly-three-year sentence in a cheating case and was taken into custody the very next day by authorities there on the request of Indian agencies, officials said. The Interpol had issued a Red Notice against Nehal Modi on the request of the Central Bureau of Investigation (CBI) in 2021 and an extradition request was also sent in 2022, but it could not be executed as he was incarcerated in a US prison after being sentenced in a cheating case, the officials ...Read More >
New Delhi, July 9, 2025 -- As Indians gear up for Prime Day 2025, a new report by McAfee highlights growing consumer concern over AI-driven scams. According to McAfee's 2025 Global Prime Day Scams Study, 71% of Indian shoppers are worried about falling prey to AI-generated frauds during major retail events, with cybercriminals using increasingly sophisticated methods to exploit online buyers. McAfee Labs uncovered over 36,000 fake Amazon websites and 75,000 Amazon impersonation scam texts in the lead-up to Prime Day. These scams include deepfake influencer videos, fake order confirmations, de ...Read More >
Thane: Crime Branch's Anti-Narcotics Cell busted an inter-state drug trafficking network after arresting a 42-year-old Uttar Pradesh-based peddler and recovering 3.3 kg charas valued at Rs 3.39 crore during a meticulously planned operation on Wednesday night.Acting on specific intelligence inputs, police laid a trap near a society at Uthalsar Naka around 10:30 PM on Thursday, leading to the arrest of Mohammad Maqsood Mohammad Ahmed, native to Phoolpur, district Prayagraj. "The accused was allegedly preparing to distribute the contraband across the region when he was intercepted by the anti-nar ...Read More >
Gurgaon: A chemist and a lab operator have been arrested for allegedly selling medical termination of pregnancy (MTP) kits illegally. Two separate FIRs were lodged against the accused at Sector 10 and Sector 9A police stations, police said on Friday.The pharmacy was sealed and medical officials have initiated proceedings to cancel its licence. District drugs control officer Suresh Verma said the department received information about illegal sales of MTP kits - also called abortion kits - from Juneja Chemist, located near Civil Hospital. A pregnant woman, who was deployed as a decoy customer, v ...Read More >
NEW DELHI: The Delhi high court on Thursday dismissed Bollywood actor Jacqueline Fernandez's petition seeking to quash the money laundering case filed against her by the Enforcement Directorate (ED) in connection with alleged gifts received from conman Sukesh Chandrashekhar. Chandrasekhar and his wife Leena Paulose were arrested and are also accused under the MCOCA.The court, after hearing arguments from both sides, declined to interfere in the ongoing trial proceedings. Justice Anish Dayal pronounced the order, while the detailed judgment will be uploaded in due course.Jacqueline Fernandez ha ...Read More >