Explained: Why the ED is investigating a ₹68.2 crore fake bank guarantee tied to Anil Ambani Group
According to reports, the Enforcement Directorate conducted coordinated raids on four premises linked to a little-known firm, Biswal Tradelink Pvt Ltd—three in Bhubaneswar and one in Kolkata—on Thursday evening.
ED officials say the fake bank guarantee was issued in the name of Reliance NU BESS Limited and Maharashtra Energy Generation Limited, both connected to the Ambani group. The guarantee was entirely forged and backed by counterfeit communications designed to impersonate the State Bank of India. Fraudsters reportedly used a spoofed domain ('s‑bi.co.in') mimicking the genuine SBI domain ('sbi.co.in') to deceive SECI.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
24 minutes ago
- Indian Express
Disguised as sadhus, robbers loot cab passengers at Delhi traffic signals
On August 1, a woman was heading to Connaught Place in a cab. Near Shadipur flyover, the car stopped at a traffic signal and three 'sadhus' knocked on her window, seeking alms. The woman rolled down the window to give them Rs 200 — and one of them swiftly pulled off a gold and diamond ring from her finger and the trio fled. On Tuesday, the Delhi Police said it has arrested the three who posed as sadhus and robbed unsuspecting taxi passengers at traffic signals in West Delhi's Moti Nagar. The accused have been identified as Vinod Kamat (50), Birju (45) and his son Kabir (19), and goldsmith Gurcharan Singh (57). Deputy Commissioner of Police (West) Vichitra Veer said they received a call regarding the incident on August 1. 'On reaching the spot, the complainant reported that she was traveling from her residence in Moti Nagar to Connaught Place in a Rapido taxi. When the vehicle stopped at the red light near Shadipur Flyover, three men approached the vehicle,' Veer said. The officer said they smeared an ash-like substance on their bodies, perfecting the look of devout sadhus. The accused knocked on the complainant's window and begged for money. The complainant handed over Rs 200 to them — and lost her ring. During the investigation, police said CCTV footage from multiple cameras in the area near the crime scene were thoroughly examined. One camera showed the accused fleeing the spot in an auto-rickshaw. The auto owner was identified. On inquiry, the owner told police that she had rented the three-wheeler to Kamat and provided his mobile number. Police nabbed Kamat near Ashok Park Metro Station. Following his questioning, police raided a jhuggi in Punjabi Bagh and arrested Kabir and Birju. All three accused admitted to their involvement in the incident. Police said they had sold the stolen ring Gurcharan for Rs 26,000. A raid was conducted at his shop in GTB Nagar, and he was nabbed. 'During questioning, Singh admitted to purchasing the ring and melting it. He handed over the melted gold and 61 stone pieces,' another officer said. During further questioning, police said it was revealed that Kamat provided the getaway vehicle. Police said they are ascertaining if the accused have been involved in previous such cases.
&w=3840&q=100)
First Post
26 minutes ago
- First Post
Why does Australia want more foreign students a year after curbs? Who will benefit?
Australia is seeking to attract more international students, a year after a cap on enrolments. The Albanese government has decided to raise the limit on the number of foreign students by nine per cent to 2,95,000 from 2026, a jump from the current 2,70,000. Here's who will benefit read more Students walk past stalls during the orientation week at The University of Sydney, in Camperdown, Australia, February 15, 2023. File Photo/Reuters Australia wants more international students, a year after limiting enrolment. Prime Minister Anthony Albanese's government on Monday (August 4) announced that it will increase its cap on foreign students by nine per cent to 295,000 next year. The move is set to benefit students from Southeast Asia, who will reportedly be given preference. This comes after Australia slashed enrolments in 2024 due to record migration. Then why is Australia increasing the cap on foreign students now? We will explain. STORY CONTINUES BELOW THIS AD Australia to raise foreign student cap Australia is lifting its cap on foreign students from next year to 295,000, a jump from the current 270,000. An addition of 25,000 placements will be offered for universities in 2026, with applicants from Southeast Asia being prioritised, reported Reuters. Around two-thirds of places will be up for grabs in universities and one-third in the vocational skills training sector. Universities can apply to have their allotments increased if they can show that domestic and international students have 'access to safe and secure housing' and enrol more students from Southeast Asia to raise their individual allocations, as per the report. This comes amid the Australian government's efforts to boost relations with Southeast Asia — its strategic partner — and reduce the country's economic dependence on China. Australia is one of the top destinations for international students. File Photo/Reuters It was important 'for Australia's future soft power that we continue to bring the best and brightest from our (Southeast Asian) neighbours to have a bit of Australia with them for the rest of their life,' Australian International Education Assistant Minister Julian Hill told national broadcaster ABC. The cap does not apply to international students who shift from secondary schools in Australia to publicly funded universities or TAFE (technical and further education). Why Australia curbed foreign student enrolment in 2024 In 2024, the Labor government introduced caps on foreign student numbers to 270,000. To curb migration, Australia also more than doubled the visa fee for international students to A$2,000 (approximately Rs 1.14 lakh) and slowed visa processing. This came as some claimed that record levels of migration led to a surge in housing prices. Ahead of this year's May elections, the Albanese government aimed to improve housing affordability and ease the cost-of-living crisis. STORY CONTINUES BELOW THIS AD 'What this means is next year there will be about the same number of international students starting a course here as there were before the pandemic,' Education Minister Jason Clare had said last August. 'There'll be more in our universities and there'll be fewer in our private vocational providers.' Australia had granted roughly 600,000 student visas in the 2023 financial year, as overseas students flooded the country after the pandemic. The country received more than 257,000 student visa applications in 2024-25, with just over 234,000 granted, reported, citing Department of Home Affairs data. What's behind the change now? Education is Australia's fourth biggest export, with the country seeing one of the highest numbers of international students globally. Foreign students boost Australia's economy. They shell out nearly twice as much as Australian students on average, propping up some institutions and domestic study fees, as per BBC. Australia's international education sector is worth A$50 billion to the economy each year and provides a quarter of a million jobs. It contributed over A$51 billion to the economy in 2024. Last year, Australia's top eight universities had criticised the government's proposed caps on foreign enrolments, saying they are 'reliant' on international student fees. For example, foreign students make up over 40 per cent of the revenue of the University of Sydney. STORY CONTINUES BELOW THIS AD Australia's largest source of international students is China and India. Now, Australia is back to accepting more international students. Education Minister Clare acknowledged that the international education sector is an 'incredibly important export' to Australia, but added that its growth has to be managed to ensure its sustainability. 'International education doesn't just make us money, it makes us friends. This is about making sure international education grows in a way that supports students, universities and the national interest. 'The new planning level gives the sector certainty to continue delivering a high-quality educational experience to international students, while addressing national priorities,' he said. The government's crackdown on migration was 'bearing fruit', allowing for a modest increase in the cap in 2026, International Education Assistant Minister Hill said. 'The numbers were growing out of control. The government has taken tough decisions over the last 12 months, not always loved by the sector, to get the numbers down and get them to a more sustainable footing,' he told ABC. STORY CONTINUES BELOW THIS AD Universities Australia hailed the 'sensible' hike in places. 'Universities have called for growth in this critically important sector, and the government has honoured this,' CEO Luke Sheehy was quoted as saying by Reuters. With inputs from agencies
India Today
26 minutes ago
- India Today
With 1971 war ammo, Indian Army fires back at US over Russian oil hypocrisy
As tensions rise over US President Donald Trump's warning against India's imports of Russian oil, the Indian Army took a not-so-subtle dig by revisiting a decades-old chapter in history to put the spotlight on American military aid to Pakistan during the 1971 Bangladesh Liberation Army's Eastern Command shared a newspaper clipping dated August 5, 1971, detailing US weapons supplies to Pakistan in the lead-up to the war. The post was captioned, "This day, that year build up of war - August 5, 1971." The headline of the clipping read, "US arms worth $2 billion shipped to Pakistan since '54."advertisementThe article was about then Defence Production Minister VC Shukla's address in Parliament, mentioning that while France and the Soviet Union had denied selling arms to Pakistan, the US continued supplying weapons.#IndianArmy#EasternCommand#VijayVarsh #LiberationOfBangladesh #MediaHighlights"This Day That Year" Build Up of War - 05 Aug 1971 #KnowFacts.". $2 '54"@adgpi@SpokespersonMoD EasternCommand_IA (@easterncomd) August 5, 2025 Shukla also accused Nato powers of overlooking Islamabad's aggression in Bangladesh. The piece claimed that both the US and China had sold weapons to Pakistan at 'throwaway prices,' implying that Islamabad fought the 1971 war with American and Chinese Army's post comes just 24 hours after Trump threatened New Delhi with higher levies if India continued buying Russian oil. The mercurial leader said he would 'substantially raise tariffs on goods from India' beyond the current 25 per cent if India didn't back off its energy ties with PUSHES BACKIndia responded to Trump's threats with a sharply worded rebuttal, taking apart Washington's own double standards. New Delhi ponted out that the US had 'actively encouraged such imports' from Russia in the early months of the Ukraine war, when energy prices were Ministry of External Affairs also pushed back at the European Union's criticism of Indian crude exports, saying Indian purchases were 'a necessity compelled by the global market situation.'It added that several countries targeting India were themselves 'indulging in trade with Russia' even though 'such trade is not even a vital compulsion.'PAKISTAN GETS A PASSEven as Trump threatens India with steeper duties, he has gone soft on Pakistan. In his latest executive order, he reduced tariffs on Pakistani goods from 29 per cent to 19 per cent, while raising rates for dozens of other nations, including India. The announcement came just before the August 1 tariff relief follows a flurry of engagements between Islamabad and the Trump camp. On June 18, Pakistan's Army chief Gen Asim Munir enjoyed a private lunch with Trump at the White House, barely a month after a brief military conflict with in July, Trump branded India a 'dead economy' and announced a raft of trade deals with Pakistan. Even as Indian officials warily eyed the growing bonhomie between Islamabad and Washington, the US President suggested that India might one day buy oil from Pakistan, which added to the diplomatic frost in India-US ties.- EndsTune InMust Watch
