Latest news with #2018
Time of India
4 days ago
- Politics
- Time of India
State cabinet meet postponed; new date fixed for July 28
Hyderabad: The Telangana state cabinet meeting, which was scheduled for Friday, was postponed due to the absence of several key ministers who were attending the Bhagidari Nyay Sammelan at Talkatora Stadium in Delhi. Tired of too many ads? go ad free now The cabinet will now meet on July 28. Chief minister A Revanth Reddy, who was also in Delhi along with the ministers, returned to Hyderabad on Friday afternoon. Deputy chief minister Bhatti Vikramarka and irrigation minister NUttam Kumar Reddy were among those present in the national capital. On Thursday, they made a powerpoint presentation to senior Congress leaders and MPs on the findings of the state's caste census. The cabinet meeting on Monday is expected to deliberate on key issues, including: Fixing of BC reservations in local bodies based on the independent expert group's analytical report of the caste survey, gig workers' bill, and an ordinance to remove the 50 per cent quota cap under the Panchayat Raj Act, 2018, which is currently pending with the governor. The state govt is working under a deadline set by the Telangana high court to finalise reservations for local body elections by the end of July. The court had directed the govt to conduct the elections by Sept 30. The cabinet is also expected to approve the over 300-page report submitted by the independent expert working group led by former Supreme Court judge Justice B Sudarshan Reddy.
Time of India
4 days ago
- Time of India
HC grants bail to suspended IAS officer in bribery case
Cuttack: Orissa high court has granted bail to suspended IAS officer Dhiman Chakma, who was arrested on June 9 by the state vigilance for allegedly accepting a bribe of Rs 10 lakh from a businessman in Kalahandi district. During a subsequent search at the official residence of Chakma, who was posted as sub-collector of Dharamgarh, officials recovered Rs 47 lakh in cash. A case was registered against the 2021-batch IAS officer under Section 7 of the Prevention of Corruption (Amendment) Act, 2018. The court directed that Chakma be released on bail upon furnishing a personal bond of Rs 5 lakh and one solvent surety of the same amount, subject to conditions including surrender of passport and not leaving the country without trial court permission. Advocate Devashis Panda represented Chakma. Granting bail, Justice Gourishankar Satapathy observed that Chakma had roots in society and posed no flight risk. "No material has been brought on record to evidence that the petitioner poses flight risk. Even if such apprehension arises, it can be addressed by imposing conditions like surrendering the passport," the court noted in its order uploaded on Friday. The special vigilance court in Bhawanipatna had earlier rejected his bail plea. State govt suspended him on June 10. The court further said that with the complainant and witnesses' statements recorded under Section 183 of BNSS, and Chakma's voice sample already sent for forensic examination, the investigation had substantially progressed. "There appears only formality of submission of chargesheet... there is no justification for further detention," the order stated. The HC clarified that the bail order does not amount to a view on the merits of the case.
Hans India
5 days ago
- Politics
- Hans India
Guv sends BC quota ordinance to MHA
Hyderabad: The BC quota reservation issue has reached Delhi now, with Governor Jishnu Dev Varma sending the 'Panchayat Raj Act (Amendment) Ordinance – 2018 for BC quota in local body elections to the Union Ministry of Home Affairs seeking its legal opinion. The ordinance for the BC reservations had virtually set the cat among the pigeons with political parties waiting eagerly for the decision of the Governor. All eyes were on the Governor as the High Court had set September 30 as the deadline for elections to the local bodies. The state government had announced that 42 per cent reservations will be provided to the BCs in the polls to local bodies. Caught off guard, political circles wanted to be clear on how the government would move forward should there be no approval by the Governor. The ordinance reached Raj Bhavan on July 15, and, as per Raj Bhavan sources, the Governor would have to take a decision before July 29. With very few days left for the taking a decision, the Governor is learnt to have discussed the legalities with the state Advocate General, seeking to know whether there will be any legal implications if the ordinance is approved. The discussions lasted more than three hours, Raj Bhavan sources said. It is learnt that the Governor had expressed his doubts whether the ordinance would be going against the spirit of the Supreme Court's ruling that reservations should not cross the 50 per cent cap. Presently, the amendment bill is with the Union Home Ministry and this is the reason why the ordinance also was sent to the Home Ministry.
Time of India
7 days ago
- Time of India
UAE warns: Don't transfer money to strangers or risk 10-year jail
Transferring money to strangers, no matter the intent, may carry criminal penalties under UAE law/Representative Image TL;DR: Transferring or depositing funds into unknown or unverified accounts especially at ATMs for strangers is a criminal offence under UAE law. Convictions for money laundering under Federal Law No. 20/2018 can lead to 1–10 years in prison and fines from AED 100,000 to AED 5 million. Federal Decree Law No. 34/2021 also applies for similar acts conducted via electronic means, with penalties up to 10 years imprisonment and up to AED 5 million fine. The UAE Public Prosecution urges the public to exercise extreme caution, even compliant intentions don't exempt individuals from legal liability. In light of recent legal cases, the UAE authorities have issued a strong warning: helping strangers deposit or transfer money, even as a favour, can result in criminal charges for money laundering. Under UAE laws, individuals who use their personal identity to deposit or move funds for unknown parties can face up to ten years imprisonment and hefty fines, even if they were unaware of the funds' origin or intent. This latest advisory reaffirms that negligence or good faith does not exempt one from legal accountability under the country's strict anti-financial crime statutes. The Legal Framework: Understanding the Penalties According to Federal Law No. 20 of 2018 on Combating Money Laundering and Terrorism Financing, knowingly transferring funds associated with criminal proceeds with intent to disguise their source constitutes a money laundering offence. Article 22 of this law sets the punishment at: 1 to 10 years in prison Fines ranging from AED 100,000 ($27,225) to AED 5 million ($1.36 million), or both Under Federal Decree Law No. 34 of 2021 on Combating Rumours and Cybercrimes, similar penalties apply when electronic means are used to conceal or move illicit funds: Up to 10 years of imprisonment Fines up to AED 5 million, or both These laws emphasise that intent to obscure a transaction, even unintentionally, can expose individuals to severe criminal liability. Real-World Risks: Why Such Transactions are Illegal The UAE's strict stance stems from its ongoing commitment to combat money laundering, terrorism financing, and financial fraud, all of which can exploit innocent citizens through seemingly minor acts like transferring money on behalf of others. Criminal networks often rely on unsuspecting individuals, sometimes referred to as 'money mules,' to move illicit funds without detection. By using regular bank customers to conduct these transactions, criminals attempt to break the audit trail and avoid scrutiny from law enforcement or financial monitoring units. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo Therefore, the law criminalizes not just the act of laundering money, but also any willful or negligent facilitation of such transactions, even when carried out unknowingly. The goal is to close legal loopholes and make it harder for criminal enterprises to mask their financial trails. Public Prosecution: Official Guidance and Risk Advisory The UAE Public Prosecution has issued clear statements advising residents never to accept requests to transfer or deposit money on behalf of strangers. It reiterated that using one's ID card or banking credentials to complete such transactions, even under a seemingly legitimate pretext is legally risky and could lead to formal charges. Authorities emphasise that individuals should treat these cases as non-optional: even if persuaded or tricked, they can still be held responsible unless they immediately report the incident to authorities. Best Practice: If You Receive Unexpected Money or Requests UAE authorities and banks recommend these steps for safety: Refuse to transfer or deposit money for someone you don't personally know. Do not move or withdraw unexpected funds received through a stranger's mistake, they may be traced back to criminal activity. Report immediately to your bank and relevant authorities, such as the Dubai Police via 901 or the anti-fraud hotline. Maintain records of all communications and responses as evidence. These measures help protect individuals from being inadvertently involved in financial irregularities. What may seem like an innocent gesture, transferring money on behalf of a stranger can lead to grave legal consequences in the UAE. Under strict anti-money laundering and cybercrime laws, individuals who facilitate dubious transactions, even unknowingly, could face up to a decade in prison and millions in fines. Legal and security authorities underline that ignorance of the law is no defence, and responsible financial conduct must be the standard in all personal banking interactions.
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Business Standard
22-07-2025
- Business
- Business Standard
PSBs flag 1,629 wilful defaulters with dues over ₹1.62 trillion: FinMin
The Union Finance Ministry on Tuesday said that public sector banks (PSBs) have classified 1,629 unique corporate borrowers as wilful defaulters, with outstanding loans totalling ₹1.62 trillion as of March 31, 2025. In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary informed the data from the Central Repository of Information on Large Credits (CRILC). He further added that the list of defaulters, excluding overseas borrowers, is updated monthly and made publicly accessible through the websites of registered credit information companies such as CIBIL, Experian, Equifax, and CRIF High Mark. Chaudhary further added that the wilful defaulters and large defaulters, dated July 30, 2024, cases of wilful defaults at overseas branches of banks incorporated in India shall be reported to credit information companies, if such disclosure is not prohibited under the laws of the host country. Further, as per the information received from the Directorate of Enforcement, nine accused who fled the country have been declared Fugitive Economic Offenders under the provisions of the Fugitive Economic Offenders Act, 2018 (FEOA). 'In these cases, as of now, assets amounting to ₹15,298.27 crore (approx.) have been confiscated under PMLA and assets amounting to ₹749.87 crore (approx.) have been confiscated under FEOA. Further, nine accused have been convicted in these cases under the provisions of PMLA,' said the Minister of State for Finance. The Minister further said that comprehensive measures have been taken to deter wilful default and to recover NPAs, including those pertaining to wilful defaulters. 'Wilful defaulters are not sanctioned any additional facilities by banks or financial institutions, and their units are debarred from floating new ventures for five years. Further, wilful defaulters and companies with wilful defaulters as promoters/directors have been debarred from accessing capital markets to raise funds,' he said. He further added that the bar on additional credit facilities to a wilful defaulter or any entity with which a wilful defaulter is associated shall be effective for a period of one year after the name of the wilful defaulter has been removed from the List of Wilful Defaulters (LWD) by the lender.
