Investment Schemes

Mumbai Police EOW takes over probe into multi-crore Torres investment scam

The Economic Offences Wing (EOW) of the Mumbai police on Wednesday took over the investigation into Torres jewellery firm's multi-crore investment scam, an official said. The police have registered a case against Platinum Hern Private Limited company, which runs the 'Torres' jewellery brand, and its directors for duping investors for over Rs 13.48 crore by promising attractive returns on their investment in the firm located at Dadar in central Mumbai, he said. Three top executives of the private jewellery firm -- two of them foreign nationals -- were arrested on Tuesday evening and sent to police custody till January 13. "Considering the scope of investigation, the case was transferred to the EOW on Wednesday," he said. Accordingly, a team of EOW officials visited the Shivaji Park police station and collected related documents for the probe. After examining the case-related documents, the EOW team will take the probe ahead, he said. "The cheating came to light when more than 300 .

Bihar doubles down on major investments as industrial growth surges

Bihar, once seen as less industry-friendly, has seen a surge in big ticket investments from the likes of Adani Group to Coca-Cola as it packages its vast resources with progressive policy to lure investors. Its industries and tourism minister Nitish Mishra, with his CEO-style approach to governance, is pivoting Bihar into a state that could be a gateway for investors to eastern India. Mishra says the perception bias regarding Bihar's industrial capabilities is slowly being overcome. In recent months, Adani Group has announced investment of Rs 8,700 crore in the state, Ambuja Cements is setting up a Rs 1,200-crore unit, and Coca-Cola is expanding its bottling capacity. Bihar Business Connect-2023 -- the state's investor meet -- last year saw memoranda of understanding (MoUs) worth over Rs 50,000 crore being signed with 300 companies. And the second edition this week is expected to rake in more. Bihar's industrial potential is limitless, he says. "Bihar has been a victim of perceptio

Explained: How Ranjit Kakoty duped 150,000 investors of Rs 260 crore

Kakoty and his associates operated through an online platform, www.tradingfx.live, which played a pivotal role in the fraudulent activities

Investment policies on the anvil ahead of Rising Rajasthan summit

The Rising Rajasthan investment summit is scheduled from December 9-11. Prime Minister Narendra Modi is expected to inaugurate the event

Black Box expects rise in India biz share, hire 400 people in 2 yrs

Essar Group's IT arm Black Box expects the share of India business to grow by 1-2 percentage points in its course to become a USD 2 billion revenue company by 2027-28, a top official of the company said. The company specialises in building IT infrastructure for critical technology applications including hyperscaler data centres and planning to bring its learning to the Indian market as many of the company's global customers are looking to invest in the country, Black Box CEO Sanjeev Verma told PTI. He said that the company plans to increase employee headcount across all levels in India to around 1,000 people from about 600 people at present. "Currently, India is 6 per cent of our business. We do not expect it to become much larger, but if we have to go to USD 2 billion then it will be significantly important for us to move it to 7- 8 per cent," Verma said. The company has reported revenue of around USD 750 in FY2024. Verma said that Black Box want to bring some value to India base

Sebi's recovery rate remains below 2% of notices sent over a decade

The remaining recovery of 98.3 per cent has not been realised in practice. These notices cover collective investment schemes (CIS), deemed public issues (DPI), and other matters

Groww MF launches ETF & FoF based on Nifty EV & New Age Automotive Index

Investment schemes will help investors 'capitalise on future of electric mobility and related technologies', says company

Sebi to auction 19 properties of KBCL India to recover investors' money

Capital markets regulator Sebi has lined up 19 properties of KBCL India Ltd for auction on July 16 to recover money illegally collected from investors. The move is part of Sebi's effort to recover investors' money. The regulator has initiated the process for the sale of assets after KBCL India Ltd, its directors Rakesh Kumar, Vishvnath Pratap Singh and Shashi Kant Mishra failed to refund the investors' money. The properties include land parcels and a plot in Uttar Pradesh and they will be auctioned at a reserve price of Rs 3.54 crore, according to a notice issued by the Securities and Exchange Board of India (Sebi) on Wednesday. Quikr Realty has been engaged by Sebi to assist it in the sale of properties, while C1 India has been appointed as the e-auction service provider. As per the notice, the regulator said bidders should make their own independent enquiries regarding the encumbrances, litigations, attachments and acquisition of liabilities of the property put on auction, prior

NSE warns investors against guaranteed returns investment schemes

The National Stock Exchange (NSE) on Monday asked investors not to put their money in guaranteed returns investment schemes offered by three individuals. The advisory came after the exchange found that the three individuals -- Veena (associated with Algo Master), Ankita Mishra and Vishal -- were offering such schemes. In a statement, the bourse said that these persons are not registered either as members or authorised persons with any registered member of the NSE. Further, the exchange has asked investors not to share their trading credentials such as user ID and password with anyone. Cautioning investors, NSE asked investors "not to subscribe to any such scheme/ product offered by any person/entity offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law." "Participation in such prohibited schemes is at investors' own risk, cost and consequences as such schemes are neither approved nor endorsed by the exchange," the exchange said. For a

Enforcement Directorate files charge-sheet in Halal investment scheme fraud

ED said that it has filed a charge-sheet before a special court in Bengaluru against Injaz International and partners for defrauding people by luring them to invest in a 'Halal' investment scheme

$12 million missing from Olympian Usain Bolt's account, say his lawyers

One of lawyers say Bolt's account once had $12.8 million but now reflects a balance of only $12,000

NSE cautions against assured return scheme offered by an individual

The National Stock Exchange (NSE) on Wednesday asked investors not to subscribe to any scheme with assured returns offered by an individual named Jay Prakash. The advisory comes after the NSE found that the individual was collecting funds from the public and was providing guaranteed returns on investment. He was also offering to handle trading accounts of investors by asking them to share their user ID and password. The bourse pointed out that the person is not registered either as a member or authorized person of any registered member of the NSE. Cautioning the investors, the NSE asked them not to subscribe to any such scheme or product offered by any individual offering assured returns in the stock market as the same is prohibited by law, according to the statement. Further, investors have been asked not to share their trading credentials such as user ID and password with anyone. "Participation in such prohibited schemes is at investors' own risk, cost and consequences as such .

If investment review shows decline in international allocation, restore it

Lock into attractive yields being offered by target maturity funds of three-five-year maturity

Govt approves investment proposals worth Rs 86,824 cr for electronics mfg

The IT ministry has approved a total of 314 applications with proposed investments of Rs 86,824 crore under a modified special incentive package scheme till May 31, 2022, an official note said.

Tripura govt launches new industrial investment promotion scheme

"Under this scheme, various subsidies would be provided to companies and Self Help Groups for setting up industries in the state," Tripura Chief Minister Biplab Kumar Deb said

Sebi overhauls collective investment scheme rules, brings on par with MFs

The market regulator said the move will "remove regulatory arbitrage" between the two pooled investment vehicles.

Sebi likely to overhaul CIS regulations at board meeting next week

The Sebi board is also likely to approve the regulator's annual accounts for financial year 2021-22

Will RBI's Retail Direct scheme spur retail investor interest in bonds?

The RBI has launched RBI-RD, allowing retail investors to directly invest in govt securities. Will this make the bond market exciting for retail investors? Analysts seem cautious

Covid-19: CDS spreads of Indian firms widen amid economic uncertainties

The increase in CDS spreads indicates an increasing risk of default, but not necessarily that bond investors would default

Fixing the GST

Fundamental improvements to the flawed structure needed