logo
Mumbai: EOW to arrest IPS officer's husband in second FIR

Mumbai: EOW to arrest IPS officer's husband in second FIR

Indian Express6 days ago

The Economic Offences Wing (EOW) of Mumbai police is likely to arrest Purushottam Chavan, the husband of Indian Police Service (IPS) Rashmi Karandikar, in a cheating case involving Rs 7.42 crore.
An EOW officer confirmed that they have secured a production warrant for Chavan from the court and likely to take him into custody from the jail on Wednesday. Chavan was previously arrested by EOW last month in a cheating case involving Rs 24.78 crore.
Chavan is accused of defrauding a Surat-based businessman and others out of Rs 7.42 crore. He allegedly accepted money from the businessman under the false pretence of selling plots from the government quota at a discounted rate. Also, he allegedly promised to assist the businessman in securing contracts for supplying T-shirts to the Maharashtra Police Academy in Nashik, but he never delivered on his promises.
Chavan's wife IPS Karandikar has allegedly accepted over Rs 2.5 crore in her account from him and allegedly diverted the same to invest in share trading.
Around 10 days ago, the EOW also wrote to the Maharashtra DGP office seeking to know if Karandikar had informed the department before making investment in share trading. 'We are awaiting a report from the DG office. In case we find share transactions which are not permitted as per the conduct rule, then we will write for departmental action against Karandikar,' said a senior EOW officer.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Warburg in talks to sell 10% stake in SBI General to Premji Invest, SBI
Warburg in talks to sell 10% stake in SBI General to Premji Invest, SBI

Business Standard

time24 minutes ago

  • Business Standard

Warburg in talks to sell 10% stake in SBI General to Premji Invest, SBI

Premji Invest and New York-based Warburg Pincus agreed to buy 16.01 per cent and 9.99 per cent of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd Bloomberg By Baiju Kalesh and Manuel Baigorri Warburg Pincus is in talks with Premji Invest and State Bank of India about selling them its stake of about 10 per cent in SBI General Insurance Co., according to people familiar with the matter. The firm is finalizing details of an agreement with Premji Invest — the family office of Wipro Ltd. founder Azim Premji — and State Bank of India, the people said, asking not to be identified because the talks are private. A transaction could value SBI General Insurance at as much as $4.5 billion, the people said. Discussions are ongoing and no final decision has been made, the people said. Warburg Pincus declined to comment. Premji Invest and State Bank of India didn't respond to requests for comment. Premji Invest and New York-based Warburg Pincus agreed to buy 16.01 per cent and 9.99 per cent of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd. in a transaction that was completed in 2020. Based in Mumbai, SBI General Insurance was established in 2009 and offers non-life insurance products including health, motoring, home and travel, according to its website. State Bank of India owns around 70 per cent in the company.

Sampre Nutritions Ltd Plans Strategic Fundraising Initiative to Drive Growth and Expansion
Sampre Nutritions Ltd Plans Strategic Fundraising Initiative to Drive Growth and Expansion

United News of India

time28 minutes ago

  • United News of India

Sampre Nutritions Ltd Plans Strategic Fundraising Initiative to Drive Growth and Expansion

New Delhi [India], June 21: Sampre Nutritions Ltd (BSE: 530617), a leading confectionery manufacturer, has proposed fund raising initiative through various modes such as preferential issue. Communicated earlier this year to BSE, the company is likely to hold Board of Directors meeting in near future, for the shareholders to consider and approve plans for raising funds via issuance of eligible securities. The proposed capital raise may involve issuance of eligible securities of the company, in one or more ways, through public and/or private offerings, including by way of preferential issue, qualified institutions placement and / or further public offering, subject to such approvals as may be required, including approval of the shareholders of the Company. The aim is to strengthen the company's financial structure and support its ongoing expansion and diversification efforts. The management of the company commented 'This is an important step in our journey as we explore ways to expand operations, extend market penetration, and invest in long-term growth. The fundraising initiative highlights our commitment towards building a stronger, more resilient future at Sampre Nutritions Limited' As part of the process, the Board will also consider convening an Extraordinary General Meeting (EGM) or initiating a postal ballot to seek shareholder approval. Earlier in April 2024, the company successfully allotted 17 lakh equity shares at Rs 36 each following the conversion of warrants issued on a preferential basis. On October 14, 2024, the Board approved the conversion of 85 Foreign Currency Convertible Bonds (FCCBs), originally allotted on June 28, 2024, into equity shares. This resulted in the allotment of 1,19,42,116 fully paid-up equity shares of face value of Rs 10 at a conversion price of Rs 59.84 per share, increasing the company's paid-up capital to Rs. 2.09 crore comprising of 20,91,212 equity shares of face value of Rs. 10 each. Subsequently, in October 2024, the company received in-principle approval from BSE for listing of 89,91,711 equity shares of face value of Rs 10 each at a price of Rs 59.84 per equity share. Along with this, the company also received approval for issuance of 10,00,000 warrants convertible into equity shares of face value of Rs 10 each at a price of Rs 60.50 per equity share on a preferential basis. In November 2024, the company approved the allotment of 8,40,000 warrants on a preferential basis to non-promoters at a price of Rs 60.50 per warrant, each convertible into one equity share of face value Rs 10. The company was also awarded the Certificate of Recognition under the India 5000 Best MSME Awards 2024 for excellence in quality, customer satisfaction, and societal impact. The company recently announced its Q4 FY25 and FY25 consolidated financial result. The consolidated revenue from operations remained stable at Rs 25.12 crore. The company reported a consolidated net loss of Rs 7.67 crore, mainly on account of investment into subsidiaries and higher finance costs. For Q4 FY25, company reported revenue of Rs 7.76 crore, a growth from Rs 4.76 crores reported in Q4 FY24. About Sampre Nutritions Ltd: Incorporated in 1991 and headquartered in Medchal, Telangana, Sampre Nutritions Ltd is engaged in manufacturing complete range of confectionery, éclairs, candies, lollipops, toffees, powder and centre filled products. The company is instrumental to deliver the growing volumes for most of the MNC's and beside producing its own brand. The group is one stop shop for complete range of confectionary productions. It has multiple MNC's as their clients as Mondelez India Pvt Ltd, Perfetti Van Melle, Reliance, DS Group, Nestle to name a few… The promoter is also the President for Indian Confectionery Manufacturers Association and is into the industry for the past 4 decades Sampre Nutrition is the first ISO certified company in South East Asia in this category since 1995 and is the 1st HACCP Certified Company by BVQI and FSSA Version 6 certified company with receiving Multiple Quality Awards World Wide. Further the company is associated with Mondelez India Pvt Ltd for manufacturing Eclairs for the past 30 Years and the Sole Manufacturer for Eclairs for the past 8 years for India, China and South African Market.

Coimbatore gets additional district consumer commission
Coimbatore gets additional district consumer commission

Time of India

time29 minutes ago

  • Time of India

Coimbatore gets additional district consumer commission

COIMBATORE: Coimbatore has got an additional district consumer disputes redressal commission to ensure speedy disposal of pending cases at the principal district commission. Tired of too many ads? go ad free now As many as 58 cases have been transferred to the newly established additional commission so far. An official source said all pending cases from 2023 and 2024, which are ready for arguments at the principal district commission, were allocated to the additional commission for disposal. The additional commission began functioning on June 16. It is functioning from Room No 7 on the first floor of the old building on the collectorate campus. It will function three days a week—from Monday to Wednesday. However, sources noted that the additional commission lacks adequate space and is currently operating from a single room, making it difficult for the staff to maintain records or even find space to sit. Every year, around 500 new cases are filed at the principal district commission. At present, approximately 350 cases are pending before it. 'District commissions shall have jurisdiction to entertain complaints where the value of goods or services paid as consideration does not exceed Rs 50 lakh. The Consumer Protection Act, 2019, stipulates that every complaint shall be disposed of as expeditiously as possible, and an endeavour shall be made to decide the complaint within three months from the date of receipt of notice by the opposite party,' the source added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store