Tag Archives: money laundering

Reliance Jio Infocomm Ltd plans to create its own cyptocurrency, JioCoin

Reliance Jio Infocomm Ltd plans to create its own cyptocurrency, JioCoin. With Mukesh Ambani’s elder son Akash Ambani leading the project, the company plans to build a 50-member team of young professionals to work on blockchain technology, which can also be used to develop applications such as smart contracts and supply chain management logistics.

“The company plans to hire 50 professionals with average age of 25 years. There are multiple applications of blockchain (for the company). The team would work on various blockchain products,” a person familiar with the development said. Blockchain is a digital ledger for storing data but not limited to Continue reading

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Former Jharkhand chief minister Madhu Koda guilty in coal scam

A special court on Wednesday held former Jharkhand chief minister Madhu Koda, former coal secretary HC Gupta and two others guilty of corruption and other charges in a coal scam case.

This is the fourth conviction in as many as 30 cases of coal block allocation scam being decided by the court.

The present case pertains to irregularities in allocation of Rajhara North coal block in Jharkhand to a Kolkata-based company in 2007. Besides Koda and Gupta, two others who have been held guilty are former Jharkhand chief secretary AK Basu and the allottee firm Vini Iron & Steel Udyog Ltd (VISUL). Continue reading

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