
Supreme Court rejects Lalit Modi's plea seeking BCCI payment of Rs 10.65 crore FEMA penalty
The Supreme Court on Monday dismissed a petition filed by former IPL commissioner
Lalit Modi
, who sought a direction to the Board of Control for Cricket in India (BCCI) to pay a Rs 10.65 crore penalty imposed on him by the Enforcement Directorate (ED, for alleged violations of the Foreign Exchange Management Act (FEMA).
(More to come)
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Indian Express
41 minutes ago
- Indian Express
Delhi ACB arrests engineer and contractor over misuse of irrigation and flood control funds of Rs 4 crore
The Delhi government's Anti-Corruption Branch (ACB) arrested an executive engineer and contractor of the irrigation and flood control department on Monday for the alleged misappropriation of more than Rs 4 crore over works that were never executed. ACB chief Madhur Verma said in a statement, 'The arrested accused have been identified as Gagan Kureel (under suspension since December 2023) and Arun Gupta, proprietor of M/s Baba Construction Company.' 'Multiple violations of the CPWD Works Manual, GFR-2005, and CVC Guidelines were detected. It also came to fore that fraudulent payments exceeding Rs 4.6 crore were made to contractors for non-existent civil works. RCC (reinforced cement concrete) drains and roads in Village Siraspur, North Delhi, were found to exist only on paper and not on the ground. Apart from this, fake performance bank guarantees worth R 2.24 crore were submitted and accepted in gross violation of established Rules,' the statement further read. The investigations began after a complaint was received by the vigilance branch of the irrigation and flood control department. A preliminary inquiry was initiated by a committee of engineers formed by the department's principal secretary to verify the works in question. The committee found that in four cases, 100 per cent of the tendered amount was disbursed, even though no work had been executed. The fraud involved the submission of forged bank guarantees and manipulated measurement and material test records. Following the findings, prior sanction under section 17A of the Prevention of Corruption (Amendment) Act 2018 was obtained and in March the FIR was registered. The ACB further said in the statement, 'M/s Baba Construction Company was awarded three tenders worth approximately Rs 5.3 crore for construction of both-side Reinforced Cement Concrete drains and roads in Siraspur, North Delhi. No work was executed, yet Rs 4.2 crore was released fraudulently.' Similarly, according to the ACB, M/s Amba Construction Company received Rs 43.74 lakh against a contract valued at Rs 38.98 lakh for repair and painting work at the CTP Network in Burari, North Delhi. Again, no work was found on site, the agency said. Sakshi Chand is working as an Assistant Editor with the Indian Express. She has over a decade of experience in covering crime, prisons, traffic and human interest stories. She has also covered the communal clashes in Kasganj, Aligarh, Trilokpuri riots as well as the North-East Delhi riots. Apart from being a journalist, she is also a National level basketball player and a coach. Before joining the Indian Express, she was working for The Times of India. ... Read More


Economic Times
43 minutes ago
- Economic Times
India's April-May fiscal deficit at Rs 13,163 crore, narrows on-year to 0.8% of FY26 aim
India's fiscal deficit for April to May, or the first two months of this fiscal year, was at 13,163 crore rupees, equivalent to 0.8% of annual estimates, narrowing from the previous year's 3.1% budget gap. The government aims to narrow the fiscal gap to 4.4% of GDP in this financial year from 4.8% a year earlier. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's fiscal deficit for the first two months of this fiscal year through May stood at 13,163 crore rupees, or 0.8% of annual estimates, government data showed fiscal deficit narrowed from 3.1% reported in the comparable year-earlier receipts stood at 7.33 lakh crore rupees, while overall expenditure in April to May was at 7.46 lakh crore rupees. They were 21% and 14.7% of this fiscal year's budget receipts in the year-earlier period was at 17.9% of estimate, while expenditure widened from 12.9% a year receipts stood at 7.08 lakh crore rupees, of which tax revenue was 3.51 lakh crore rupees and non-tax revenue was 3.57 lakh crore and non-tax revenues were 12.4% and 61.2% of the budgeted estimate. While tax revenue was tad wider than 12.3% of budget estimate in the last fiscal year, non-tax revenue swelled from 46.1% of budget forecast in the same period last revenue jumped as the Reserve Bank of India approved a dividend of Rs 2.69 lakh crore to the central government, up from Rs 2.11 lakh crore transferred last year. This will help the central government reduce its fiscal expenditure stood at 5.25 lakh crore rupees in April to Delhi saw a revenue surplus of 1.83 lakh crore rupees or 34.9% of the fiscal year's budget target, data expenditure, or spending on building physical infrastructure, was 2.21 lakh crore rupees, up from 1.4 lakh crore rupees in year-eariler announcing the federal budget for this fiscal year that started April 1, Finance Minister Nirmala Sitharaman set the fiscal deficit target for 2025-26 at 4.4%, in line with the Indian government's commitment to narrow the budget gap to below 4.5% by fiscal 2026. India's fiscal deficit for FY25 stood at 4.8% of GDP, meeting the revised lower fiscal deficit target for 2025-26 was expected on hopes of strong tax collections, despite the government's continued capex push that is crucial to shore up consumption and create jobs and help India achieve its aim to be world's third largest economy by the expenditure side, New Delhi spent 51,252 crore rupees on major subsidies such as food, fertilisers and petroleum. This was 13% of the revised annual aim, marginally narrower than 14% of budgeted expenditure in the comparable period last year.


Indian Express
an hour ago
- Indian Express
Gurgaon police arrest Gujarat woman linked to Cambodia-based cyber fraud syndicate
The Gurgaon police Sunday arrested a 24-year-old resident of Surat in Gujarat at the Delhi airport for her alleged involvement in a cyber fraud racket operating from a call centre in Cambodia. Khushboo was arrested in connection with a 'digital arrest' case, where fraudsters posed as police, Central Bureau of Investigation (CBI), and Customs officers to extort money by threatening victims with fake charges of illegal activities. A Gurgaon police spokesperson said the woman will be produced in a court Monday for police remand. Two mobile phones used in the cyber fraud were recovered from her possession, the spokesperson added. The case stems from a complaint lodged on December 4, 2024, at the Cyber Crime (East) Police Station in Gurgaon. The complainant reported that her son received a call claiming his Aadhaar card was linked to hawala transactions. When he denied the allegations, the fraudsters, posing as police officers, threatened to register a First Information Report (FIR). A fake CBI officer then contacted the victim via video call, claiming he was under 'digital arrest', and coerced him into transferring money under the pretext of resolving the fabricated hawala case. The police registered a case under the relevant sections based on the complaint. The investigation, led by Priyanshu Diwan, Assistant Commissioner of Police (Cyber Crime), and Inspector Amit Sharma, revealed that Khushboo was part of a Cambodia-based call centre, Mango Park, in Phnom Penh, involved in 'digital arrest' cases. The syndicate operated in three stages — the victims were intimidated with claims of their mobile numbers or Aadhaar cards being misused, fraudsters then posed as police officers to enforce a 'digital arrest', and impersonated Customs or Income Tax Department officials to extort money through bank transfers. The police investigations also showed Khushboo intimidated victims, and was paid a monthly salary of $700 for her role. The call centre, reportedly run by individuals of Chinese origin, employed people from India and other countries to execute these frauds. Similar call centres operate across Phnom Penh and other parts of Cambodia, the police said. The probe uncovered that Rs 39 lakh collected through the fraud was transferred to a bank account belonging to a man called Surendra, who sold the account to another accused, Mitesh, for Rs 5 lakh. Acting on instructions from his brother Bhargav in Dubai, Mitesh sold the account to Khushboo. She had travelled to Dubai in November 2023 for a job through a friend's husband, and later moved to Cambodia in August 2024 to work at the Mango Park call centre. So far, 16 people, including Khushboo, have been arrested in connection with the case, the Gurgaon police said, and further investigation is ongoing.