Latest news with #FarazKhan
India Today
14-07-2025
- Business
- India Today
Tribunal raps ED for ignoring due process in launching probe into Pune land deal
An appellate tribunal came down heavily on the Enforcement Directorate (ED) for making a land parcel in Pune a subject of their investigation without following due process and Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) Appellate Tribunal quashed the ED provisional attachment orders on land in Pune's Hinjewadi purchased by a trading land, intended for development by Hindavi Swarajya Trading Company, was linked to an ED probe, without the knowledge of the cooperative society and its The tribunal highlighted negligence on the part of the ED and collusion of the investigating/enquiry officer in keeping the director of the company in the case involves land acquisition by Hindavi for a group cooperative housing society, which houses 126 flats. Homebuyers had secured extensive loans from banks to fund their tribunal noted that negligence by the ED has risked public money in the form of home loans from government and private banks to the tune of approximately Rs 30 crore. Despite due diligence by the company, the ED did not inform the director about the attachment tribunal also rapped the ED over its failure to disclose the attachment status during the land purchase diligence, stating, "At this belated stage, when the land is already sold, developed and constructed into flats, and thereafter, the said flats were sold to a large number of owners, the situation cannot be reversed at this stage. Otherwise, it will prejudice the interests of the appellants and buyers of the flats".The tribunal underscored that both the company and the banks had conducted thorough verification processes, and during the intervening period no steps were taken by respondent ED to restrain the development and sale of flats to the counsel for the appellants, Faraz Khan, welcomed the ruling, and said that the decision draws a constitutional boundary by punishing launderers and not honest citizens."Due diligence is not a game of hide and seek. When the State attaches property, it must shout it from the rooftops—register it, publicise it, mark it. The ED's failure to follow this process almost destroyed the lives of 126 families," Khan said."Freezing and de-freezing crores of suspected laundered funds while concealing attachment from an innocent purchaser is not just carelessness, it is institutional failure. This ruling sets a template for all such cases where third parties unknowingly buy into attached properties. It's a victory for every ordinary home-buyer," Khan added.- EndsTune InMust Watch
Forbes
22-06-2025
- Business
- Forbes
Islamic ESG: A New Blueprint For Sustainable Capital
Faraz Khan, CEO & Partner at Spectreco and Yousef Khalawi, Secretary-General of AlBaraka Forum for ... More Islamic Economy at 2nd Global Islamic Economy Summit in Istanbul. Islamic ESG: A New Blueprint For Sustainable Capital Imagine going to your bank to borrow money and having an opportunity to help stipulate the lending agreement because you are the one who has to give back the money. While this seems like an unimaginable scenario for most people in the Western world, it's an example of how an Islamic moral framework called Maqasid al-Shariah is applied to the world of finance and has the potential to influence the future of sustainable capital. Globally, Islamic-finance assets were estimated to be more than US $ 5 trillion in 2024 and are projected to grow to US $7.5 T by 2028, according to Standard Chartered's 2025 industry outlook. While Islamic finance is still a niche slice of the overall system—roughly one dollar in every eighty of global financial assets—the segment's compound annual growth of approximately 10% - 12% is outpacing the broader financial system. One of the drivers of growth Islamic-finance assets is the increasing incorporation of Shariah principles into sustainable-finance and ESG products—an area where faith-aligned screening overlaps with mainstream ethical investing. Shariah-compliant funds are now offered by financial institutions including SP Funds which has North America's largest family of Shariah-compliant funds, Manulife which added Shariah-aligned funds to its i-Watch platform, and Mackenzie Investments which offers the Mackenzie Shariah Global Equity Fund. These Shariah-compliant ESG indexes go beyond conventional environmental, social, and governance criteria by embedding the fundamental objectives of Islamic law—preserving human dignity, ensuring social justice, and safeguarding the environment—into their core methodologies. The newest entry into this growing space is the AlBaraka Islamic ESG Index - Powered by Spectreco which was launched earlier this month at the 2nd Global Islamic Economy Summit in Istanbul. The AlBaraka Islamic ESG Index is distinct because it operationalizes both Shariah and ESG through real-time data, AI automation, and principles-based governance, according to Faraz Khan, CEO & Partner at Spectreco. 'This index ends the false choice between Shariah compliance, ESG values, and financial performance,' said Khan. The new index combines technology and advanced AI infrastructure with Shariah scholarship. According to Yousef Khalawi, Secretary-General of AlBaraka Forum for Islamic Economy, the AlBaraka Islamic ESG Index is the first of its kind to integrate Maqasid al-Shariah principles with global ESG frameworks and be powered by advanced AI infrastructure that delivers real-time financial performance data and dynamic, automated scoring. 'Its dual governance model, combining cutting-edge technology with rigorous Shariah oversight, ensures unparalleled transparency and accountability. This synergy produces a next-generation benchmark that harmonizes ethical integrity with market efficiency—something no traditional ESG index currently offers.' At a time when conventional ESG models are being criticized for greenwashing or lack of relevance across cultural contexts, Islamic finance, with its intrinsic emphasis on equity, justice, and stewardship may be a compelling alternative. 'Maqasid al-Shariah can offer the world not only a moral compass but a practical roadmap for sustainable financial systems,' said Khan. According to Yousef Khalawi, the impetus behind launching the AlBaraka Islamic ESG Index was a clear market need for an innovative financial instrument that bridges the gap between spiritual values and sophisticated economic demands. 'The inspiration was simple: the industry was asking for it,' said Khan. 'Whether you're an asset manager in the Gulf Cooperation Council or a regulator in Southeast Asia, the demand for values-aligned, ESG-credible, and tech-integrated tools is growing.' Albaraka and Spectreco hope the index will unlock significant opportunities for a broad spectrum of financial market professionals and participants. These include asset managers seeking Shariah-compliant, ESG-integrated portfolios, sovereign wealth funds with sustainable development objectives, banks that can use the index as a foundation for innovative Shariah-based financial products, and Islamic stock exchanges that can co-develop regional benchmarks. Khan and Yousef Khalawi have a bold vision: to transform Islamic finance into a globally recognized standard that marries financial performance with ethical responsibility. 'Ultimately, success means establishing a trusted, transparent, and scalable financial infrastructure that empowers the Islamic economy to lead global efforts in creating a just and sustainable financial future,' said Yousef Khalawi. They also hope the index will become part of the everyday infrastructure of capital markets. 'If we can redirect capital towards ventures, cities, and institutions that advance justice, equity, and environmental restoration — we'll know the index hasn't just measured values, but moved them,' said Khan. The launch of the AlBaraka Islamic ESG Index is part of a broader shift in global finance that is demanding more than incremental change. Regulators and investors are questioning the legitimacy of ESG. Civil society stakeholders are calling for financial systems to reflect a more diverse ethical worldview. In this context, the AlBaraka Islamic ESG Index has the potential to be a reinvention of what responsible finance can be when guided by values and built with modern tools. 'What makes this moment unique is the convergence of technological readiness and global capital appetite,' said Khan. 'We're seeing an evolution from compliance to conviction—where Maqasid al-Shariah can offer the world not only a moral compass, but a practical roadmap for sustainable financial systems.' The collaboration between AlBaraka Forum is a fusion of capital, tradition and technology. The Forum brings decades of expertise in Islamic economics and policy influence, while Spectreco supplies the data, digital tools, and AI-driven governance models needed to operationalize Shariah values at scale. Together, they're filling a gap in the market and helping to create a new blueprint for the future of sustainable capital.
Pink Villa
23-05-2025
- Entertainment
- Pink Villa
Why Tiger Shroff's Ganapath is making headlines? Here's what we know about Rs 3 lakh non-payment claim
Actor Faraz Khan, who featured prominently in Tiger Shroff's 2023 sci-fi action film Ganapath, has come forward with serious allegations against Vashu Bhagnani's Pooja Entertainment. Faraz claims the production house has failed to pay his Rs 3 lakh dues for nearly two years, despite fulfilling his contractual obligations. The actor has now issued an ultimatum: pay up or face legal consequences and public exposure. Here's what Ganpath actor claimed Faraz Khan used Instagram to post a detailed statement about the matter. He explained that he was cast by Pooja Entertainment to portray the character Thabeel in the Hindi film Ganapath, directed by Vikas Bahl. He mentioned that he shared almost every scene with his co-actor Armaan Khera, who he described as his on-screen twin. Faraz also highlighted that while Armaan Khera, his counterpart has been fully compensated, he has yet to receive any payment owed to him. Faraz alleged that his multiple efforts to contact the company were met with evasive replies. He criticized the studio for failing to honor their obligations, stating that while the top-billed cast and crew had been paid, often with hefty fees, he, as a lesser-known actor, was deliberately overlooked and manipulated. He described this behavior as not only unprofessional but also disgraceful. Calling out what he described as systemic mistreatment, Faraz said, 'Let the industry and the public know how Pooja Entertainment treats its actors: with dishonesty, disrespect, and deliberate delay. I refuse to be silenced." He further warned that unless the studio clears his dues and issues a public apology, he will proceed with legal action, speak to the media, and go public across platforms to 'expose" the studio's conduct. 'Pay your people. Honour your contracts. Stop harassing independent artists," he concluded. Faraz's claims emerge amid growing concerns over Pooja Entertainment's financial stability. In 2024, it was reported that the production company, headed by Bhagnani, had incurred significant debts after the poor box office performance of expensive films such as Ganapath and Bade Miyan Chhote Miyan. Multiple crew members had earlier voiced comparable grievances about unpaid wages, with insiders revealing that only the main actors received their full payments.
News18
22-05-2025
- Entertainment
- News18
Ganapath Actor Accuses Pooja Entertainment Of Non-Payment, Demands Rs 3 Lakh & Public Apology
Last Updated: Faraz Khan, who appeared in Tiger Shroff's 2023 film Ganapath, has accused Pooja Entertainment of failing to pay him ₹3 lakh for his role. Actor Faraz Khan, who featured prominently in Tiger Shroff's 2023 sci-fi action film Ganapath, has come forward with serious allegations against Vashu Bhagnani's Pooja Entertainment. Faraz claims the production house has failed to pay his dues for nearly two years, despite fulfilling his contractual obligations. The actor has now issued an ultimatum—pay up or face legal consequences and public exposure. On Wednesday, Faraz took to Instagram to share a detailed statement addressing the situation. He wrote, 'My name is Faraz Khan. I was hired by Pooja Entertainment to play the role of Thabeel in the Hindi feature film Ganapath, directed by Vikas Bahl. My co-actor Armaan Khera and I shared nearly every scene, like on-screen twins. While he has been paid in full, I haven't received a single rupee of what I'm owed." Faraz claimed that his repeated attempts to get in touch with the company were met with misleading responses. He slammed the studio for neglecting their commitments, adding, 'All top-billed cast and crew members have been paid—many with exorbitant fees. But when it comes to compensating the so-called 'small guy' like me, they choose to ignore and manipulate. It's more than just unprofessional—it's disgraceful." Calling out what he described as systemic mistreatment, Faraz said, 'Let the industry and the public know how Pooja Entertainment treats its actors: with dishonesty, disrespect, and deliberate delay. I refuse to be silenced." He further warned that unless the studio clears his dues and issues a public apology, he will proceed with legal action, speak to the media, and go public across platforms to 'expose" the studio's conduct. 'Pay your people. Honour your contracts. Stop harassing independent artists," he concluded. Faraz's allegations come at a time when Pooja Entertainment has been under scrutiny for financial troubles. In 2024, reports surfaced that the Bhagnani-led production house had accumulated massive debt following the commercial failure of high-budget projects like Ganapath and Bade Miyan Chhote Miyan. Several crew members previously echoed similar complaints of unpaid dues, while insiders claimed that only the lead actors were paid in full. In a desperate bid to offset mounting liabilities, the Bhagnanis reportedly sold their lavish Juhu office in June 2024 to clear debts amounting to Rs 250 crore. First Published:
Time of India
22-05-2025
- Entertainment
- Time of India
Ganapath actor alleges non-payment by Pooja Entertainment as he demands Rs 3 Lakh and public apology: 'Let's hold the big names accountable for...'
Actor Faraz Khan, recognized for his role in 'Ganapath,' has publicly accused Pooja Entertainment of withholding his payment for nearly two years. Khan claims that despite completing his work, he hasn't received any payment. He warns of legal action and public exposure if his dues aren't cleared immediately. Actor Faraz Khan, known for his role in Tiger Shroff 's 2023 sci-fi action film Ganapath, has accused Vashu Bhagnani 's Pooja Entertainment of withholding his payment for nearly two years. Despite completing his contractual work, Faraz claims he has yet to receive his dues. He has now issued a stern warning: pay immediately or face legal action and public exposure. Faraz Accuses Pooja Entertainment of Withholding Payment He wrote, 'My name is Faraz Khan. I was hired by Pooja Entertainment to play the role of Thabeel in the Hindi feature film Ganapath, directed by Vikas Bahl . My co-actor Armaan Khera and I shared nearly every scene, like on-screen twins. While he has been paid in full, I haven't received a single rupee of what I'm owed." Faraz alleged that his repeated efforts to contact Pooja Entertainment were met with evasive and misleading replies. He criticized the studio for ignoring their obligations, stating, 'All top-billed cast and crew have been paid—many with exorbitant fees. But when it comes to paying the so-called 'small guy' like me, they choose to ignore and manipulate. It's not just unprofessional—it's disgraceful.' Calling out what he described as systemic mistreatment, Faraz declared, 'Let the industry and the public see how Pooja Entertainment treats its actors—with dishonesty, disrespect, and deliberate delays. I refuse to be silenced.' Faraz Warns of Legal Action and Public Exposure He further warned that unless the studio clears his dues and issues a public apology, he will take legal action, engage with the media, and publicly expose the studio's conduct across platforms. 'Pay your people. Honour your contracts. Stop harassing independent artists,' he demanded. Faraz's allegations add to the growing scrutiny of Pooja Entertainment's financial troubles. In 2024, reports revealed that the Bhagnani-led production house faced massive debt after the commercial failures of high-budget films like Ganapath and Bade Miyan Chhote Miyan. Several crew members have also complained of unpaid dues, with insiders claiming only the lead actors received full payment. In a bid to manage mounting liabilities, the Bhagnani family reportedly sold their lavish Juhu office in June 2024 to help clear debts totaling Rs 250 crore. Check out our list of the latest Hindi , English , Tamil , Telugu , Malayalam , and Kannada movies . Don't miss our picks for the best Hindi movies , best Tamil movies, and best Telugu films .
