Latest news with #DSP
Time of India
5 hours ago
- Time of India
Interstate cybercriminal with 65 cases against him held in Giridih
Bokaro: An interstate cybercriminal, who has over 65 cases registered against him in Telangana, Hyderabad, besides Deoghar, was among four miscreants arrested, the Giridih police said on Thursday. DSP (Cyber Crime) Abid Khan said, "Acting on a tip-off received on the Pratibimb portal on July 2, our team arrested Chhoti Mandal alias Chhote Mandal, along with three others, during operations conducted near Budhudih Market and Jhinjhari Mohalla under the Ahilyapur police station limits." "The other arrested miscreants were identified as Deepu Kumar Mandal alias Deepak Kumar Mandal (22), Shravan Rai (21), and Mohit Kumar Mandal (19), all residents of Giridih district. Deepak is wanted in a cybercrime case in Chhattisgarh and Ahilyapur while Shravan has a case registered against him in Giridih," he added. "During interrogation, the gang confessed to duping people by circulating fake APK files disguised as KYC updates, Aadhaar verification, courier notifications, and links from banks and the Delhi jal board. Five mobile phones and six SIM cards were seized from them," the DSP said. The four accused were produced in the court, which sent them to judicial custody. Investigation is under way to uncover the links to other cybercrime networks, police said.
Mint
6 hours ago
- Business
- Mint
DSP MF breaks new ground with India's first retail offshore fund from GIFT City
India's first retail-focused offshore mutual fund has quietly opened its doors—not from Mumbai, but from the country's nascent international finance hub, GIFT City. DSP Mutual Fund's new Global Equity Fund, launched on 2 June, allows Indian residents to invest as little as $5,000 in a diversified basket of global stocks—without relying on offshore brokerages, feeder funds, or cumbersome tax filings. It's the first open-ended mutual fund targeting retail investors to debut under GIFT City's updated 2025 framework, and a litmus test of whether the finance hub can truly broaden access beyond institutions and high-net-worth individuals. Mirae Asset Mutual Fund has also received similar approval from the International Financial Services Centres Authority (IFSCA) to launch retail-focused offshore funds, though it has yet to announce a specific product. More than just a regulatory first, DSP's new fund could help Indian asset managers reclaim outbound flows long dominated by foreign platforms. It offers a cleaner, tax-friendly alternative within India's regulatory perimeter. The DSP Global Equity Fund, currently in its New Fund Offer (NFO) phase, will accept inflows for up to six months, but is likely to close in 30–40 days. It can continue accepting investments even after the NFO closes. The fund will invest in 30–50 global companies across markets such as the US, Europe, Japan, South Korea, China, and Canada. Sebi cap workaround Unlike traditional mutual funds in India, DSP's fund is not constrained by the Securities and Exchange Board of India's (Sebi) $7 billion overseas investment cap, which has led to repeated inflow suspensions across global feeder schemes. Instead, the GIFT City-based fund uses the investor's own $250,000 annual quota under the Liberalised Remittance Scheme (LRS), a more resilient route for global exposure. Because it is domiciled at GIFT, the fund remains outside the Sebi ceiling and can continue accepting money even when the broader mutual fund industry is capped. The fund signals a shift in outbound capital flows, with domestic asset management companies (AMCs) attempting to reclaim ground long dominated by offshore platforms. 'This structure gives Indian investors a practical route to access global equities at a time when most domestic mutual funds are unable to invest abroad," said Abhishek Kumar, co-founder of SahajMoney and a Sebi-registered investment advisor. 'That said, since the fund has just launched and has no track record yet, it may be prudent to watch its performance for a while before committing capital." How it works—and who it's for The fund's stock selection is grounded in the principle of 'what will not change over the next 10 years." It will favour businesses demonstrating incremental innovation over dramatic disruption, prioritising firms with pricing power, durability, and high shelf life over rapid growth. DSP describes this as a focus on resilience over volatility. The portfolio will be managed by Natraj Shankarnarayanan, formerly of Quantum AMC, and Jayesh Jain, previously a long-short portfolio manager at Edelweiss AMC. 'The DSP Global Equity Fund enables both retail and high-net-worth individuals to invest in high-quality global businesses via the LRS route," said Kalpen Parekh, managing director and chief executive of DSP Mutual Fund. 'We are proud to be the first AMC to launch a retail fund on this route at GIFT City. This offering allows Indian investors to access companies with strong ROE, robust cash flows and attractive valuations globally—while staying aligned with the 'Make in India' vision by building this capability domestically." DSP already manages nearly $1 billion in assets at GIFT City, largely for offshore clients. This marks its first global product aimed squarely at Indian investors, positioned as a long-term vehicle for goals like children's overseas education or international travel. The fund is available in both Regular and Direct plans, with expense ratios ranging from 1.25% to 2.5% depending on investment size and distribution channel. Any Indian resident can invest in the fund under the Liberalised Remittance Scheme (LRS), subject to the $250,000 annual limit. NRIs are not eligible. Note: remittances above ₹10 lakh in a financial year will attract tax collected at source (TCS). The onboarding process is currently hybrid—investors must fill out a physical or emailed application form and submit KYC documents, either directly or through a distributor. These are processed by CAMS at GIFT City, which handles due diligence, AML checks, FATCA compliance, and customer verification. Once verified, the investor receives confirmation and units are allotted. A fully digital route is in development, but currently marked 'in process." Any mutual fund distributor registered with the Association of Mutual Funds in India (Amfi) can sell the fund. No additional registration with GIFT City's regulator IFSCA is required. Fee structure The fund offers four share classes: Retail investors A1 (Regular plan): 2.5% expense ratio B1 (Direct plan): 1.5% Institutional investors (min. $100,000) A2 (Regular): 2.25% B2 (Direct): 1.25% The structure rewards higher investments and direct participation with lower fees. One of the fund's main draws is its investor-level tax simplicity. Unlike traditional Indian mutual funds, capital gains are taxed at the fund level, not in the hands of the investor. If you redeem units within two years, the fund deducts tax at 42% (the highest marginal rate under the old regime). After two years, the fund applies a 12.5% long-term capital gains tax. There's no additional tax filing or declaration required from the investor. However, the fund itself pays tax on any internal churn: if it rebalances its portfolio within two years, the gains from that segment are taxed at 42%; gains on assets held longer are taxed at 12.5%. While retail participation is just beginning, GIFT City's offshore fund ecosystem is expanding rapidly. As of March 2025, funds based in GIFT's IFSC had invested $8.08 billion. That includes $4.52 billion from Category I and II AIFs, $3.52 billion from Category III AIFs, and $42.77 million from venture capital schemes. Commitments raised have surged 87% year-on-year, from $8.41 billion in March 2024 to $15.74 billion in March 2025, according to IFSCA data. If it succeeds, DSP's new fund could mark a turning point—not just for offshore investing, but for GIFT City's ambitions to become a gateway for global capital.
Time of India
2 days ago
- Entertainment
- Time of India
#PlagiarismRow: Is Turkish hit Anlayana a copy of Oo Antava? DSP thinks so
Oo Antava, the 2021 Telugu hit from Pushpa: The Rise, is once again in the spotlight following plagiarism allegations. Composer Devi Sri Prasad (DSP) has claimed that Turkish singer Atiye's November 2024 release, Anlayana, shares notable similarities with his original composition. Oo Antava gained widespread acclaim for its catchy rhythm, folk-inspired beats, and viral choreography featuring Samantha Ruth Prabhu . Atiye's team has yet to respond publicly to the allegations. DSP is reportedly consulting legal experts as he considers his next steps. Oo Antava gained widespread acclaim for its catchy rhythm, folk-inspired beats, and viral choreography featuring Samantha Ruth Prabhu I'm thinking of filing a case: DSP speaks out Controversy erupted when Devi Sri Prasad addressed the issue at an event in Hyderabad on June 28. 'You've all enjoyed Oo Antava from Pushpa. I composed that song in just five minutes, sitting in my studio in Chennai. There's no place on Earth where it hasn't been played — and now, someone's even copied it. I'm considering filing a copyright infringement case. But at the same time, seeing an Indian music director's work replicated internationally is also a proud moment. It makes me happy and reminds me of what I'm capable of. In life, whether people doubt you or copy your work, how you respond defines your growth. Taking it all in stride is a sign of maturity — and that's the real path to success,' he said. Devi Sri Prasad Who is Atiye? Deniz Atiye Yılmaz, known professionally as Atiye, is a Turkish-German pop singer and songwriter born in Bremen, Germany. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo She began her music career in the late 2000s and quickly rose to prominence with her vibrant stage presence and genre-crossing sound, blending elements of pop, electronic, and dance. Atiye sings in both Turkish and English and is best known for hits like Salla, No Body, and Kal. In 2011, she was awarded the MTV Europe Music Award for Best Turkish Act and has remained a prominent figure in Turkey's contemporary pop scene. Deniz Atiye Yılmaz, aka Atiye Oo Antava vs Anlayana: Inspiration or Imitation? Originally sung by Indravathi Chauhan, Oo Antava from Pushpa: The Rise (2021) quickly shot to viral fame. Featuring Samantha Ruth Prabhu's captivating dance performance and Devi Sri Prasad's infectious composition, the track became a social media staple, with its lyrical video crossing 300 million views on YouTube. In November 2024, Turkish pop singer Atiye released Anlayana — a track that soon found itself in direct comparison with Oo Antava. From the tone and tempo to the groove of the chorus, many listeners noted striking similarities between the two songs. While some suggested that Anlayana may have been inspired by the Telugu hit, others went further, accusing Atiye of lifting the tune without credit. Flashback: When Karthi was surprised to hear Oo Antava playing at a club in Turkey Actor Karthi recently recounted hearing Oo Antava playing at a nightclub during his vacation in Turkey. At the Tamil trailer launch of Thandel earlier this year, he ha shared, 'When I went to Turkey for vacation, I heard a song playing at a club that instantly felt familiar — the tune made me think I'd heard it before, and it sounded a lot like an Indian song. My wife felt the same. For a moment, I even thought maybe a Turkish song had been copied in India. But then I realised it was actually the remix version of Oo Antava. Hearing that track in a club in Turkey truly shows how far DSP's music has reached. His talent is echoing across countries. I've known him since my school days, he's always been hardworking, and it's inspiring to see that he still remains the same.' Karthi Have the tables turned? As DSP considers legal options, Atiye and her team have yet to issue a statement regarding the matter. The question of whether the similarities between the two tracks are a result of coincidence or intentional replication remains unresolved. However, the controversy signals a shift. Historically, Indian songs have often faced plagiarism accusations from international artistes. This time, though, the situation seems to have reversed, with Oo Antava now at the centre of an international plagiarism debate. It's clear that South Indian music is pushing beyond its linguistic and geographic limits.
Hindustan Times
2 days ago
- Hindustan Times
Punjab: Bhucho DSP's asst reader held for taking ₹1-lakh bribe
BATHINDA: The vigilance bureau (VB) arrested a personal security officer (PSO) attached to Bhucho deputy superintendent of police (DSP), red-handed while accepting a bribe of ₹ 1 lakh on Tuesday. The accused in VB custody in Bhucho. The accused has been identified as the head constable Raj Kumar, who was also working as the assistant reader to DSP Ravinder Singh. Kumar was arrested from the DSP office area, which is located on the premises of the women's police station, located near the district administrative complex (DAC). VB inspector Amandeep Singh Brar told reporters that the cash was recovered from the official vehicle of the Bhucho DSP. 'A case under the Prevention of Corruption Act has been registered against Raj Kumar at VB's police station of Bathinda range. More officials would be nominated in the case if an investigation leads to the involvement of more people in the case,' said the VB official. In a statement, VB authorities said the accused police official has been arrested following a complaint filed by a resident of Kalyan Sukha village in tehsil Nathana of Bathinda. It stated that the complainant approached the VB alleging that due to a dispute over agricultural land, the opposite party had registered a false case against her husband and both her sons at the Nathana police station. After her representation, the Bathinda senior superintendent of police (SSP) marked the complaint to the Bhucho DSP to probe the matter. 'Subsequently, Raj Kumar, reader, made two phone calls from the complainant's mobile phone and informed her that he had spoken to the DSP regarding this re-investigation and only the DSP's signature on the report was pending. To get the FIR cancelled, he demanded a bribe of ₹ 2 lakh,' reads the VB statement. It further added that the accused Raj Kumar told the complainant that ₹ one lakh should be paid immediately as the first instalment so that he could get the work done. 'The complainant recorded this conversation on her mobile phone and submitted it to the VB. After verification of the complaint, a VB team from Bathinda range laid a trap and apprehended HC Raj Kumar while accepting the bribe,' adds the statement. Block officer caught red-handed taking ₹ 13k bribe The Punjab Vigilance Bureau (VB) on Tuesday arrested George Masih, block officer, posted at the block development and panchayats office (BDPO), Amritsar, while accepting ₹ 13,000 bribe. VB official spokesperson said the accused was arrested following a complaint lodged by a resident of Bikraur village in Amritsar district. 'The complainant had approached the VB alleging that he wanted to contest panchayat elections from his village in 2024 but could not do so, as a notice declaring him defaulter was issued against him by block officer, Ajnala, stating that he had not cleared outstanding dues of government land measuring four kanals and an FIR would be registered against him in this regard. As per the complaint, the accused asked the complainant that if he wanted to get his name stuck off from the defaulter list and also to get a correction in the revenue record, he had to pay a bribe of ₹ 13,000,' the spokesperson said. The spokesperson said that after preliminary verification of this complaint, a team from the VB unit, Amritsar, laid a trap and apprehended the accused while he was accepting a bribe. A case under the Prevention of Corruption Act has been registered against the accused at VB police station, Amritsar range. The accused would be produced before the court on Wednesday, and further investigation into this case was under progress, the spokesperson said.
The Hindu
2 days ago
- Politics
- The Hindu
DSP accused in phone tapping case set to be demoted to inspector
In what is being described as 'side effect' of telephone tapping case, second accused D. Praneeth Kumar, Deputy Superintendent of Police under suspension, is likely to be demoted as Inspector. A sub-inspector of 2007 batch, Mr. Kumar, also known as Praneeth Rao, was shifted to the Special Intelligence Branch (SIB) in 2018 in the rank of Inspector. Before joining SIB, he served in Nalgonda district. Five years after his stint with SIB, he got elevated as DSP through 'accelerated promotion' which is extended to police officials for commendable performance in anti-Left wing extremist operations. There is no direct connection between his elevation as DSP through 'accelerated promotion' and the telephone tapping case, the accelerated promotion angle cropped up when the police officials probing the telephone tapping case began analysing different aspects of the case like why the prime accused and former police officer T. Prabhakar Rao specifically chose Mr. Praneeth Rao and others to eavesdrop on the phones of others. Mr. Prabhakar Rao was heading the SIB, while on extension of service following retirement, when the proposal for promoting Mr. Praneeth Rao as DSP was taken. Investigators, after questioning both of them, surmise that Mr. Praneeth Rao was 'gifted' with accelerated promotion as DSP though his work did not meet the standards applied to other police officers in such matters. Interestingly, a serving DSP M. Gangadhar (who eventually quit and entered politics by contesting for MLC) questioned Mr. Praneeth Rao's promotion by writing open letters to State police chief and Chief Minister A. Revanth Reddy. When police officials probing telephone tapping case dug deeper, they found that Mr. Praneeth Rao's promotion was not in compliance with the parameters or standards adhered to in accelerated promotions awarded to other police officers. Though Mr. Gangadhar challenged similar promotions awarded to three other police officers, the case of Mr. Praneeth Rao assumed importance because of his alleged complicity in telephone tapping case. The investigators reportedly submitted a report to the higher-ups pointing out the discrepancies in the accelerated promotion of Mr. Praneeth Rao. 'This has raised many issues relating to awarding accelerated promotions. Hopefully, the government would strictly adhere to procedures and justify all such pending proposals, if any,' said a police officer unwilling to be named.
