Tag Archives: fraud

CBI arrests its own programmer for illicit software that subverted the railway ticket reservation system

NEW DELHI: The CBI has arrested one of its employees, an assistant software programmer, for developing an illicit software that subverted the railway ticket reservation system. The software focused on exploiting vulnerability in the tatkal system by allowing hundreds of ticket bookings in one go.

“Though, there was no revenue loss to the railways, the agents who used this software were selling tickets on huge margins and fleecing passengers,” a a CBI spokesperson said. CBI sources said the vulnerability in the IRCTC software ‘still exists’.

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SEBI to finalise new norms for advisers, credit rating agencies

MUMBAI: The board of the Securities and Exchange Board of India (Sebi) will consider and approve on December 28 as many as 17 reforms, including new norms for credit rating companies and investment advisers, according to two people with direct knowledge of the development.

“We are re-looking all regulations and ensuring that all circulars are captured in regulations,” Ajay Tyagi, chairman of Sebi, said at a December 20 event.

The Sebi board will also discuss the issue of disclosure of loan defaults and publish a discussion paper on it.

In August, Sebi had mandated that listed firms disclose all loan defaults within Continue reading

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Most awaited Gujarat and Himachal elections results Today

Ahead of the counting of votes in Gujarat and Himachal Pradesh on Monday,  Congress and the Bharatiya Janata Party (BJP) were in a huddle to discuss possible scenarios the declaration of results would deliver in the politically crucial home state of Prime Minister Narendra Modi.

Most exit polls have predicted a comfortable victory for the BJP in the elections for 182-member Gujarat assembly but the Congress insists that the result will be “surprising” for pollsters.

In Gujarat, the BJP wound up its election office in a swanky mall on the outskirts of Gandhi nagar and held a meeting of all its candidates and polling agents.

As Congress leaders alleged tampering of electronic voting machines (EVMs), Continue reading

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Gujarat elections battle on 9 & 14 December

Gujarat will vote in two phases on Dec. 9 and Dec. 14  to pick a new assembly, the election commission said on Wednesday, setting the stage for a crucial battle that is seen as a test of support for Prime Minister Narendra Modi’s policies to revive a sputtering economy.

Chief election commissioner AK Joti said all polling stations will have VVPAT machines, an anti-fraud system with a paper trail that briefly shows the candidate and symbol a person voted for. Continue reading

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19 Companies sent rs. 424 crore through 700 transactions in 2015

The CBI has filed an FIR against 19 companies of Tamil Nadu which sent over ₹424 crore in foreign remittances through 700 transactions in 2015. According to the CBI, unidentified officials of Punjab National Bank’s Continue reading

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