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CBI arrests cyber criminal, seizes Rs 2.8 crore of cryptocurrencies
Economic Times
·
1m ago
Medial
The Central Bureau of Investigation (CBI) arrested Rahul Arora for his involvement in a cybercrime racket impersonating government officials and tech support executives to target individuals in the USA and Canada. During searches at three locations, cryptocurrencies worth Rs 2.8 crore and Rs 22 lakh in cash were seized. The operation, part of CBI's 'Chakra-V' initiative, highlighted the agency's capabilities in handling Virtual Digital Assets and tackling cybercrime through intelligence and technology-driven approaches.
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GainBitcoin scam case: CBI seizes cryptocurrencies worth over Rs 23.94 crore
Economic Times
·
5m ago
Medial
The CBI seized cryptocurrencies worth over Rs 23.94 crore during an operation targeting the GainBitcoin scam, linked to Amit and Ajay Bhardwaj. The scam, initiated in 2015 through platforms like GainBitcoin, promised investors a 10% monthly Bitcoin return. Operating as a Ponzi scheme, it later switched investor payouts to a less valuable in-house cryptocurrency, MCAP. Extensive investigations have been launched, with multiple electronic devices sent for analysis to identify implicated parties and trace funds.
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Bengaluru police bust Rs 854 crore cyber fraud; know the details
IndianStartupNews
·
1y ago
Medial
The Bengaluru Police have arrested six individuals involved in a cyber fraud scam worth Rs 854 crore. The fraudsters deceived victims across India by promising high daily profits on small investments through WhatsApp and Telegram. They collected the funds in various bank accounts and laundered the money through online payment modes, including cryptocurrencies. This case highlights the rising concern of cyber fraud in India, with financial fraud accounting for over 75% of cyber crimes in the country.
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ED seizes Rs 90 crore funds kept in Binance, ZebPay, WazirX wallets
Economic Times
·
1y ago
Medial
The Enforcement Directorate has seized funds worth Rs 90 crore from cryptocurrency wallets linked to exchanges like Binance, ZebPay, and WazirX. The investigation is part of a money laundering case related to an online gaming app scam. The app, called 'E-Nugget,' promised high returns on investments but turned out to be a fraudulent scheme. The ED froze funds totaling nearly Rs 90 crore from 70 accounts held with these exchanges. So far, a total of Rs 163 crore worth of assets have been seized or frozen in the case.
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CBI arrests GAIL executive director, four others in bribery case
Livemint
·
1y ago
Medial
Several top officials from India's Gas Authority of India Limited (GAIL) have been arrested, including Executive Director KB Singh, Chief General Manager Davinder Singh, and Director of Advance Infrastructures, Surender Kumar. The arrests are related to alleged bribes paid in connection with two GAIL pipeline projects. The Central Bureau of Investigation (CBI) launched an operation after receiving information about the alleged bribe exchange, conducting searches in several locations, including Delhi, Noida, and Vishakhapatnam.
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Gaming industry to grow to Rs 25,300 crore by end of 2024-25: report
Economic Times
·
1y ago
Medial
According to a study by Grant Thornton Bharat and E-Gaming Federation, the gaming industry in India is projected to grow 20% year-on-year to reach Rs 25,300 crore by the end of the financial year. The study also reveals that India now has 442 million online gamers, surpassing China. The industry has attracted $2.8 billion in investments over the past five years. The report highlights the need for a code of conduct in the industry to address cyber threats, regulatory uncertainties, and financial risks, and to promote ethical standards and player protection measures.
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Standards regulator BIS seizes FirstCry products worth Rs 90 lakh
Economic Times
·
2m ago
Medial
The Bureau of Indian Standards (BIS) seized products worth Rs 90 lakh from FirstCry's Bengaluru warehouse, alleging violation of the BIS Act, 2016 regarding unauthorized use of the ISI Mark. FirstCry, an omnichannel baby care retailer, stated its operations remain unaffected and is seeking legal advice, asserting no non-compliance. Despite a 16% rise in revenue, Brainbees Solutions, FirstCry's parent company, reported a widened net loss of Rs 111.5 crore for the March quarter.
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Chanda Kochhar makes comeback with a new role; launches podcast ‘Journey Unscripted’
Business Today
·
5m ago
Medial
Chanda Kochhar, former CEO of ICICI Bank, is accused by the CBI of being involved in a quid pro quo arrangement with Videocon's Venugopal Dhoot. The allegations suggest that after a Rs 300 crore loan was approved for Videocon, Dhoot invested Rs 64 crore in NuPower Renewables, a company owned by Kochhar's husband, Deepak Kochhar. This accusation is part of a larger investigation into the financial dealings between these individuals and corporations.
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Co-working firm Innov8 goes into arbitration with Rahul Yadav's 4B Networks for unpaid dues
Money Control
·
1y ago
Medial
Rahul Yadav, the founder of 4B Networks, is facing mounting legal troubles, including arbitration and criminal cases. In addition to his arbitration dispute with Info Edge, it's revealed that 4B Networks and Yadav are also in arbitration with Innov8 over unpaid rent of Rs 1.08 crore for an office space. Innov8 has filed a criminal case under the Arbitration and Conciliation Act after failed attempts to resolve the issue. Another arbitration case involving 4B Networks is also facing difficulties, with Yadav requesting more time for understanding the arbitration case with Info Edge. A criminal case has also been filed against Yadav by an ad agency for Rs 10 crore in unpaid dues.
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Coal India Q3 Results: Profit soars 18% YoY to Rs 9,094 crore
Money Control
·
1y ago
Medial
Coal India Ltd (CIL) reported a 17.8% increase in consolidated net profit to Rs 9,093.69 crore for the quarter ended December 31, 2023. Revenue from operations increased by 2.8% to Rs 36,153.97 crore. The company's consolidated sales also rose by 4.4% to Rs 38,357.23 crore. CIL's EBITDA increased by 13% to Rs 13,576.35 crore, and raw coal production and offtake both saw significant growth compared to the previous year. The company also declared a second interim dividend of Rs 5.25 per share.
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A23 touches Rs 1,050 Cr revenue in FY23, profits surge 2.8X
Entrackr
·
1y ago
Medial
Online rummy platform A23 has witnessed a rebound in its revenue, crossing Rs 1,000 crore in FY23, according to its consolidated financial statement. The revenue from operations increased by 45.4% to Rs 1,050 crore, and the company's profits grew 2.8 times to Rs 58 crore. With over 5 crore players, A23 offers five games and earned Rs 21.4 crore from non-operating income. The company's expenses increased by 39.2% to Rs 976 crore, while cash inflows from operations rose by 287% to Rs 130 crore.
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