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ED conducts raids in Bengal in connection with Rs 1,000 crore cyber fraud in Tamil Nadu
Economic Times
ยท
6m ago
Medial
The Enforcement Directorate (ED) conducted raids at eight locations in West Bengal as part of an investigation into a cyber fraud involving over Rs 1,000 crore in Tamil Nadu. Operations occurred in Kolkata areas like Park Street, Salt Lake, and Baguihati, as well as three other district locations. A person was detained for questioning in Salt Lake. The crime involved individuals from various eastern Indian states.
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Zomato gets Rs 4.59 crore tax demand notices
Economic Times
ยท
11m ago
Medial
Food delivery platform Zomato has received GST tax demand orders exceeding Rs 4.59 crore from Tamil Nadu and West Bengal authorities. The company plans to appeal against the demand. Tamil Nadu issued an order for GST of Rs 81,16,518, plus applicable interest and penalty, while West Bengal issued an order for GST of Rs 1,92,43,792, along with interest and penalty. Zomato stated that it has provided clarification along with relevant documents, and believes it has a strong case to defend the matter. The company does not anticipate any financial impact.
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Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit
Economic Times
ยท
9m ago
Medial
- Tamil Nadu cabinet approves Rs 13,180 crore investment by Yuzhan Technology (India), a unit of Foxconn, generating 14,000 jobs. - Foxconn considering Rs 1,000 crore investment to set up smartphone display module assembly unit in Tamil Nadu for Apple. - Foxconn acquires 500,000 square feet facility near Chennai for manufacturing smartphone modules, encouraging other contract manufacturers to use its components. - Foxconn's investment is the largest among 14 projects approved by the Tamil Nadu Cabinet, with a cumulative investment of Rs 38,698.80 crore. - Tata Motors to invest Rs 9,000 crore in manufacturing Jaguar Land Rover vehicles in Ranipet. - Other investments approved include Leap Green Energy Pvt Ltd (Rs 10,375 crore), Freetrend Industrial India (Rs 1,000 crore), Kaynes Circuits India (Rs 1,395 crore), Ascent Circuits (Rs 613.6 crore), and Lucas TVS (Rs 510 crore).
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Cybercrimes on rise: Tamil Nadu Police warns public; Chennai, Coimbatore, tier-II cities vulnerable
Economic Times
ยท
8m ago
Medial
The Tamil Nadu Police has issued a warning about the increasing number of cybercrimes in the state, particularly in Chennai and Coimbatore. Between January and August 2024, there were 1,679 registered cybercrime cases, with financial fraud being the most common. These scams have led to a loss of about Rs 189 crore. The police have urged the public to be cautious of various scams, such as online share trading fraud and fake job offers. They have also advised victims to report the crimes promptly on the National Cyber Crime Reporting Portal to increase the chances of freezing the scammers' bank accounts.
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Airtel's AI system blocks 1.80 lakh malicious links, safeguards 3 million users
Economic Times
ยท
1m ago
Medial
Bharti Airtel has implemented an advanced AI-powered fraud detection system, blocking over 180,000 malicious links and protecting 3 million users within 25 days of launch. The system, automatically enabled for Airtel's mobile and broadband users, scans and filters links across various platforms and blocks harmful sites in under 100 milliseconds. With multilingual support, it effectively addresses cyber threats in digitally advanced regions like Tamil Nadu, offering free, background protection without requiring installation.
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USโ Corning to build Rs 1,000-crore gorilla glass facility in Tamil Nadu
Economic Times
ยท
1y ago
Medial
Corning Inc., the key supplier of gorilla glass to Apple, is planning to invest Rs 1,000 crore in setting up a manufacturing facility in Tamil Nadu, India. The facility will be located in Pillaipakkam and employ around 300 people. This move marks the expansion of Apple's ecosystem and the growing presence of electronic component manufacturers in India. Corning has chosen Tamil Nadu over Telangana due to the state's electronics ecosystem and proximity to other Apple suppliers. The facility is expected to be operational within a year.
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Two electronics clusters worth Rs 1,112 crore to be set up in Tamil Nadu: Union minister Ashwini Vaishnaw
Economic Times
ยท
4m ago
Medial
Union Minister Ashwini Vaishnaw announced the establishment of two electronics manufacturing clusters worth Rs 1,112 crore in Tamil Nadu. Inaugurating Zetwerk Electronics' facility in Sriperumbudur, he highlighted the growth of the electronics sector, now India's second-largest export industry. The Zetwerk plant is part of a Rs 1,000 crore investment, expected to employ 1,500 people. The new clusters in Kancheepuram and Thiruvallur aim to bolster the state's electronics manufacturing capacity.
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Tamil Nadu Police Issues Advisory On New Scam Using AI-assisted Voice Cloning
Inc42
ยท
1y ago
Medial
The cyber crime unit of the Tamil Nadu police has issued a warning about scammers using artificial intelligence (AI) to clone voices and make calls to extort money from victims. This involves using AI to replicate the voices of family members or friends in order to trick victims into sending money under the pretext of an emergency. The police advisory urges people to stay informed about voice cloning fraud and watch out for warning signs, such as unusually stressful situations and emotional manipulation. Concerns about the misuse of AI and deepfakes have been growing recently.
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IndoSpace plans to raise investment up to Rs 4,500 Cr in logistics, warehouse parks in TN
YourStory
ยท
9m ago
Medial
- IndoSpace plans to invest up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu to strengthen its presence in the manufacturing sector. - The investment will support the growing manufacturing sectors like automobile and electronics in Tamil Nadu. - The move is expected to create over 8,000 new jobs and enhance the state's industrial infrastructure. - IndoSpace has already developed over 8.8 million sq ft of completed infrastructure in Tamil Nadu and has an additional 2 million sq ft under construction. - The company's presence in Tamil Nadu includes 15 Grade A parks spread across 649 acres, serving 66 tenants from various sectors. - IndoSpace has a total equity committed to Tamil Nadu of $380 million and offers a potential chargeable area of 15.4 million sq ft in the state.
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Zomatoโs GST Troubles: Foodtech Giant Receives Another Demand Notice
Inc42
ยท
11m ago
Medial
Zomato has been hit with a GST tax demand of INR 1.89 lakh, along with interest and penalty, by the Sales Tax Officer in Delhi. The food delivery platform has stated that it will pay the applicable dues and the cost of litigation. This comes after Zomato received GST tax demand and penalty orders totaling INR 4.59 crore from authorities in Tamil Nadu and West Bengal earlier this week.
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Bengaluru police bust Rs 854 crore cyber fraud; know the details
IndianStartupNews
ยท
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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