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☆ CNBC's Inside India newsletter: A disconnected stock market
▼ + stars: | 2024-05-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

CNBCThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. For local investors, Indian stocks would have underperformed the U.S. benchmark by more than 45 percentage points since Buffett's 2008 bet. It appears that India's near 8% GDP growth isn't transforming into stock market returns. But that has also meant significant competition for the incumbents, many of which are listed on the stock market. This year has also been particularly unlucky for Indian stock market investors thanks to the uncertainty added by politics.

Persons: Warren Buffett, it's, Jonathan Pines, Federated Hermes, Rajeev Agrawal, Agrawal, Narendra Modi's, Kevin Carter, Buffett, Carter, Modi, Narendra Modi, Amit Shah, Virat Kohli, Rajat Patidar Organizations: Berkshire, CNBC, BSE, Federated, DoorDarshi Advisors, Narendra Modi's BJP, India, Ecommerce, One97 Communications, Ujjivan Financial, BJP, Russia, Indian, Ukraine, India's Central Bureau of Investigation, Indian Premier League, Wednesday, Royal Challengers Bengaluru Locations: Omaha , Nebraska, Omaha, BSE India, India, United States, Gandhinagar Lok Sabha, Russia, Mumbai, Punjab Kings

☆ How a store manager from India ended up killed on the battlefields of Ukraine fighting for Russia
▼ + stars: | 2024-04-19 | by ( Vedika Sud | Brad Lendon | ) edition.cnn.com time to read: +10 min

“I saw holes on the back of his shoulder, his ribs right down till his lower back,” Imran told CNN. “He was going to work as a taxi driver or delivery boy in Russia – that process was on,” Imran said. Meanwhile, India, which has no law preventing its citizens from serving in a foreign state’s military, has acknowledged that a number of its nationals have been fighting for Russia in Ukraine. In early March, India’s Central Bureau of Investigation (CBI) said it had busted major human trafficking networks that were duping men into Russian military jobs, with 35 such cases identified. Asfran Mohammed, right, and his brother Imran are pictured with Asran's children before Asfran left for Russia.

Persons: New Delhi CNN —, Asfan Mohammed, he’d, Imran Mohammad, Vladimir Putin’s, “, ” Imran, Imran, ”, Asfan, Putin, Allen, He’d, Asfran, Mohammed Imran, Inna Varenytsia, Bimala Rai Paudyal, I’d, who’d, Asfran Mohammed, Mohammed Imran “, I’ve Organizations: New, New Delhi CNN, CNN, Russian, ”, United Arab Emirates, Reuters Foreign, Kremlin, Indian Ministry, External Affairs, India’s, Bureau of Investigation, Indian Nationals, CBI, Asfan, Indian, Indian Embassy Locations: New Delhi, India, Russia, Russian, Ukraine, Hyderabad, “, Australia, Moscow, Ukrainian, Kreminna, South Asia, Nepal

☆ A $20m mansion home was built on top of a 400ft skyscraper. The tycoon owner may never get to live in it.
▼ + stars: | 2024-03-23 | by ( Cameron Manley | ) www.businessinsider.com time to read: +4 min

A $20-million sky mansion sits on top of a 33-story luxury apartment complex in India. The spectacular home was designed for businessman Vijay Mallya. AdvertisementVijay Mallya might never get to live in the mansionThere's a real possibility that Mallya won't ever get to live in the sky mansion. Indian businessman Vijay Mallya arrives at the Royal Courts of Justice in London, February 2020. On the list were defense dealer Sanjay Bhandari, diamond trader Nirav Modi, and Vijay Mallya.

Persons: Vijay Mallya, Mallya, —, Vijay, instagram Irfan Razac, superrich, Ambani, Ashwin, Tom Tugendhat, Sanjay Bhandari, Nirav Modi Organizations: Service, Prestige Estates, Business, Kingfisher, Financial Times, Royal, of Justice, Reuters, of State Security, Press Trust of, The, India's Central Bureau of Investigation, National Investigation Agency Locations: India, Bengaluru, Mumbai, London, Reuters India, Japan, Canada, New Zealand, Norway, British, Press Trust of India, The Times

☆ India says its citizens were 'duped' to serve in the Russian army. Now it wants them back
▼ + stars: | 2024-03-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

India is seeking the release of its nationals who have been "duped" into serving in the Russian army, a spokesperson for the Indian Ministry of External Affairs said Friday, in a rare rift from Moscow. "Several Indian nationals have been duped to work with the Russian army. He appealed to Indian nationals to "not be swayed by offers made by agents for support jobs with the Russian army. "It has been ascertained that some of these victims also got grievously injured in the war zone," the agency said. It comes amid a domestic labour crisis that has incentivized Indian nationals to seek jobs abroad.

Persons: Randhir Jaiswal Organizations: Indian Ministry, External Affairs, Indian, Central Bureau of, CBI, Centre, Monitoring Locations: India, Russian, Moscow, Delhi, Russia, Ukraine

☆ How an Indian startup hacked the world
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +41 min

The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, prominent attorneys and more. Run by a pair of brothers, Rajat and Anuj Khare, the company began as a small Indian educational startup. The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, sports figures and more. Back in 2012, Kristi Rogers was an executive at Aegis, a London-based security company. Canadian security company GardaWorld, which acquired Aegis in 2015, said it had no information on the incident.

Persons: Chuck Randall, Randall, “, ” Randall, ”, Randall’s inbox, Appin, Rajat, Anuj Khare, Rajat Khare’s, Clare Locke, Khare “, Khare, ” Clare Locke, Ted Kaczynski, Anuj, who’ve, SentinelOne, Tom Hegel, Appin “, Hegel, Mandiant, ” Hegel, Shane Huntley, ” Huntley, Google’s Huntley, ‘, Jochi Gómez, Gómez, Halevi, Tamir Mor, Russian oligarch Boris Berezovsky, Mohamed Azmin Ali, ” Mor, Berezovsky, Azmin, Mor, Roman Abramovich, Mark Hastings, Hastings, didn’t, Jim H, ” Jim H, Jim H’s, Kristi Rogers, Mike Rogers, he’s, Global’s, sully, Rogers, Damian Perl, – “, Steven Santarpia, ” Santarpia, Santarpia, Leonel Fernández, ” Fernández, Rajat Khare, “ Let’s, Ministry of Home Affairs didn’t, Peter Hargitay, Stevie, Billing, ” Stevie, ’, ” Peter Hargitay, Mookhey, Norman Shark, Jonathan Camp, Shark, Camp, Norman, Dominican Republic –, Dan Brady, Sandra Schweingruber, ” Schweingruber, Schweingruber, Brady, ” Gómez, –, ” –, Anna Carter, Mark Califano, ” Rajat Khare’s, India’s, Educomp, Karen Hunter, Hunter, Bryan, Rajat’s, Vijay Kumar, Deepak Kumar, Kumar, ACSG, Jay Solomon, Solomon, ” Rebsec’s, Vishavdeep Singh, Rebsec, CyberRoot, Sumit Gupta, Gupta, Raphael Satter, Zeba Siddiqui, Christopher Bing, Ryan McNeill, Corinne Perkins, John Emerson, Marla Dickerson Organizations: Reuters, Google, Harvard University, U.S, Symantec, Appin, Caribbean, El, Israeli Defense Forces, Commando, Quillon Law, U.S . House Intelligence, The Michigan Republican, U.S . Senate, Aegis, Global Security, Security, Rogers, Army Corps of Engineers, Rotary, Aegis ’, Global, ” Reuters, Britain’s, Appin Software Security, Ltd, Appin Security, –, Research, Analysis, Intelligence Bureau, Indian, India’s Ministry of Home Affairs, India’s Ministry of Defense, of Home Affairs, Central Bureau of Investigation, CBI, Federal Bureau of Investigation, Ministry of Home Affairs, Telenor, Broadcom, FBI, Dominican, Criminal Investigation Service, Appin Security Group, CERT, country’s, Bureau of Investigation, Educomp, State Bank of India, State Bank, The National Security Agency, NSA, U.S ., Swiss, Appin Technology, India’s Ministry, Corporate Affairs, Control Security Global, Technology, Kumar, Facebook, Meta, BellTroX, Services, Street, New, Rebsec, BellTroX’s, Hire Locations: Long, New Delhi, India, Yorker, Paris, Swiss, cybersecurity, Appin, Dominican, California, “, Dominican Republic, El Siglo, United States, Britain, Switzerland, New York, French, New Jersey, Israel, Russian, Malaysian, London, Rwandan, Virginia, Canadian, Chuck@shinnecock.org, Texas, Indian, India’s Punjab, Pakistan, Zurich, Australia, Norway, Oslo, Brady, Former, ”, U.S, Islip, Shinnecock, Washington, cyberespionage

☆ Around 76 locations were raided in India as part of a crackdown on phony tech support scam calls
▼ + stars: | 2023-10-21 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Around 76 locations were raided across 12 Indian states in a crackdown on tech support scam calls. AdvertisementAdvertisementIndia has been cracking down on tech support scammers in an effort to "combat and dismantle" finance-related cyber crime, officials announced on Thursday. Officials raided around 76 suspected illegal call center locations across India, in several different states, according to a press release from India's Central Bureau of Investigations. The scammers often pretend to work for reputable companies like Microsoft and Amazon, according to a press release from Amazon. —Central Bureau of Investigation (India) (@CBIHeadquarters) October 19, 2023Law enforcement seized 32 phones, 48 laptops and hard discs, and 33 SIM cards and froze several bank accounts amid the raid of the 76 locations, according to CBI.

Persons: —, Doug Thomas, they're Organizations: Bureau of Investigations, Amazon, Microsoft, Service, Officials, India's Central Bureau of Investigations, CBI, Bureau of Investigation, FBI Locations: India, Canada, Australia, Germany, Spain, Bihar, Dehli, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Punjab, Tamil Nadu, Uttar Pradesh, West Bengal

CNN —Indian authorities have arrested three railway officials as part of an investigation into one of the deadliest train crashes in the country’s history. The Central Bureau of Investigation (CBI) said in a statement that they had arrested three Department of Railways officials on Friday. The move follows the deaths of at least 275 people in a three-way crash involving two passenger trains and a freight train in eastern Odisha state on June 2. The railways minister Ashwini Vaishnaw has previously said the accident had occurred “due to a change in electronic interlocking” and that an investigation would show “who was responsible” for that. According to senior railway officials, the crash took place when the Coromandel Express, a high-speed train traveling from Kolkata to Chennai, was diverted onto a loop line and slammed into a heavy goods train idled at Bahanaga Bazar railway station.

Persons: ”, Narenda Modi, Ashwini Vaishnaw, Jaya Varma Sinha, Naveen Patnaik, Modi, Modi’s Organizations: CNN, Central Bureau of Investigation, of Railways, Indian, Howrah Locations: Odisha, Kolkata, Chennai, Bahanaga Bazar, Bangalore

Indian officials on Friday arrested three railway workers in connection with a deadly train crash last month that left at least 290 people dead and once again highlighted safety problems across a vast train network that serves as an important lifeline for the poor. India’s Central Bureau of Investigation, which is leading the criminal inquiry into the train accident in the eastern state of Odisha, said the workers were arrested on charges of endangering the safety of passengers, culpable homicide without murder, and tampering with evidence. In a statement, the agency identified the three as a senior section engineer, a section engineer and a technician. The “investigation is continuing,” the agency said. The Coromandel Express, which was traveling from West Bengal, crashed into a parked freight train in Odisha at a speed of 80 miles an hour, resulting in a three-way tangle with another train that was passing in the opposite direction.

Organizations: India’s, Bureau of Investigation Locations: Odisha, West Bengal

MUMBAI, July 7 (Reuters) - India's federal police have arrested three railway employees on Friday in connection with the country's deadliest train crash in two decades that killed 292 people last month, the crime agency said in a statement. It is India's worst train crash in more than two decades. The accident happened when a passenger train hit a stationary freight train, jumped off the tracks and hit another passenger train coming from the opposite direction. Reuters reported earlier this week that workers repairing a rail-road barrier had made faulty connections in the automated signalling system on the network. The malfunctioning system directed the passenger train onto the path of the freight train, it said.

Persons: Narendra Modi's, Shilpa Jamkhandikar, Krishn Kaushik, Jatindra, Shivam Patel, YP Rajesh, Hugh Lawson Organizations: Central Bureau of Investigation, CBI, Reuters, of Railway Safety, CRS, Local, Indian Railways, Railway Board, Railways Ministry, YP, Thomson Locations: MUMBAI, Bahanaga Bazar, Odisha

Indian and international media have previously reported that a possible malfunction in the automated signalling system may have led to the crash. However, details of the frequent malfunctions at the nearby rail-road barrier and its possible connection to a manual bypass of the signalling system are reported by Reuters for the first time. A spokesman for Indian Railways said "repair works keep happening as per requirements" but tampering with the automated system is not allowed. "(Indian) Railways believes the system was tampered with," said the second source, who has access to briefings on the investigation. The Indian Railways spokesman did not directly address the authorisation issue and only said it is not allowed under Indian Railways rules.

Persons: Amitabh Sharma, Sharma, Soubhagya Ranjan Sarangi, Narendra Modi's, Jaya Varma Sinha, Sinha, Sandeep Mathur, Mathur, Sudhanshu Mishra, Krishn Kaushik, Jatindra, Sarita Chaganti Singh, YP Rajesh, Angus MacSwan Organizations: Railways, Reuters, of Railway Safety, CRS, Railway Board, Railways Ministry, Indian Railways, police’s Central Bureau of Investigation, CBI, Coromandel Express, Express, YP, Thomson Locations: India, DELHI, Bahanaga Bazar, Balasore, Odisha, Bahanaga, Niranjan, Chennai, Kolkata, New Delhi

REUTERS/Francis MascarenhasBALASORE, India, June 7 (Reuters) - Indian authorities made fervent appeals to families on Tuesday to help identify over 100 unclaimed bodies kept in hospitals and mortuaries after 275 people were killed in the country's deadliest rail crash in over two decades. Following non-stop efforts to rescue survivors and clear and repair the track, trains resumed running over that section of the line on Sunday night. Till Monday evening around 100 bodies were yet to be identified, a senior state health department official told Reuters. Bijay Kumar Mohapatra, health director of Odisha, said authorities were trying to source iced containers to help preserve the bodies. "Unless they are identified, a post mortem cannot be done," Mohapatra said, explaining that under Odisha state regulations no autopsy can be conducted on an unclaimed body until 96 hours has passed.

Persons: Dilip Kumar Sabar, Jyotilal Sabar, Francis Mascarenhas BALASORE, Bijay Kumar Mohapatra, Odisha, Mohapatra, A.M, Chowdhary, Jatindra Dash, Krishn Kaushik, Sudipto Ganguly, Simon Cameron, Moore Organizations: REUTERS, Reuters, All India Institute of Medical Sciences, India's Railway, federal Central Bureau of Investigation, CBI, Railway, Express, Thomson Locations: Balasore, Bhubaneswar, Odisha, India, Bhubaneswar's, Assam, Bihar, Jharkhand, West Bengal, Tamil Nadu, Karnataka, Andhra Pradesh, Chennai, Kolkata, Howrah

☆ India train crash: Devastating scenes of despair after one of the worst train crashes the country has ever seen
▼ + stars: | 2023-06-05 | by ( Ivan Watson Kunal Sehgal Deepak Rao Rhea Mogul | Ivan Watson | Kunal Sehgal | ) edition.cnn.com time to read: +10 min

Some of the coaches rolled to the other side,” the 32-year-old restaurant worker told CNN from a hospital in India’s eastern Odisha state. Their story is just one of hundreds unfolding across the country as India deals with one of the worst train crashes it has ever seen. Doctors confer as they attend to survivors of a train accident in a hospital in Balasore, India, on June 4, 2023. A drone view shows derailed coaches after two passenger trains collided in Balasore district in the eastern state of Odisha, India, June 3, 2023. In 2011, scores were killed when a train jumped tracks in the northern state of Uttar Pradesh.

Persons: CNN — Manto Kumar, “, ’, Punit Paranjpe, “ I’ve, I’ve, Laluti Devi, ”, Abhishek Chinnappa, Ashwini Vaishnaw, Laxminaranyan, Stringer, Reuters Anushuman Purohi, ” Vaishnaw, Rafiq Maqbool, Narendra Modi, Modi’s, Vaishnaw, Kumar Organizations: CNN, Express, Getty, Mojo, India’s, Government Medical College, Howrah, Reuters, Sunday, Indian, Crime Records, AP Railways, Central Bureau of Investigation, Authorities Locations: India’s, Odisha, India, Balasore, AFP, Bhubaneswar, Chennai, Kolkata, Bahanaga Bazar, Bangalore, Tamil Nadu, Balasore district, Andhra Pradesh, Uttar Pradesh

☆ Probe into Indian rail disaster opens as trains start running
▼ + stars: | 2023-06-05 | by ( Jatindra Dash | ) www.reuters.com time to read: +3 min

Following non-stop efforts to rescue survivors, and clear and repair the track, trains resumed running over that section of the line on Sunday night. The inquiry is underway," a senior railway officer told a Reuters reporter, as officials checked documents being submitted for examination. India's Railway Board, the top executive body, has recommended that the Central Bureau of Investigation take over the investigation into the cause of the disaster. "We have to move towards normalization... Our responsibility is not over yet," railway minister Ashwini Vaishnaw told reporters. "Passenger occupancy is almost 99%," Aditya Chaudhary, chief public relations officer of South Eastern Railway, told Reuters.

Persons: Adnan Abidi, A.M, Chowdhary, Ashwini Vaishnaw, Aditya Chaudhary, Jatindra Dash, Subrata, Tanvi Mehta, Sudipto Ganguly, Simon Cameron, Moore Organizations: REUTERS, Reuters, Railway Board, Central Bureau of, Express, South Eastern Railway, Thomson Locations: Balasore district, Odisha, India, Adnan, Adnan Abidi KHARAGPUR, Balasore, Kharagpur, West Bengal, Chennai, Kolkata, Howrah, New Delhi

Nearly 1,200 people were injured when a passenger train hit a stationary freight train, jumped the tracks and hit another passenger train passing in the opposite direction near the district of Balasore. The drivers of both passenger trains were injured but survived, she said. RESTORATIONWorkers with heavy machinery were clearing the damaged track, wrecked trains and electric cables, as distraught relatives looked on. More than 1,000 people were involved in the rescue, the Railway Ministry said on Twitter. "The target is by Wednesday morning the entire restoration work is complete and tracks should be working," Vaishnaw said.

Persons: Pradeep Jena, Ashwini Vaishnaw, Narendra Modi, stringently, Modi, Jaya Varma Sinha, Stringer, Sinha, Vaishnaw, Kanchan Choudhury, Jatindra Dash, Rajesh, Jayshree Upadhyay, Ira Dugal, Robert Birsel, Sonali Paul, William Mallard, Nick Macfie Organizations: Railways, India's Railway Board, Central Bureau of Investigation, Railway, Express, Railway Ministry, Twitter, Wednesday, Thomson Locations: BAHANAGA, India, Odisha, Balasore, Chennai, Kolkata, du, Inde, Howrah

[1/2] Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby MelvilleNEW DELHI, May 29 (Reuters) - India has filed a graft case against Britain's BAE Systems plc (BAES.L) and Rolls-Royce Holdings (RR.L) for "criminal conspiracy" in the procurement and licensed manufacturing of 123 advanced jet trainers, a federal police document showed. The case is based on the findings of an investigation launched by India's Central Bureau of Investigation (CBI) in 2016, the document dated May 23 said. In its response BAE said it would be inappropriate to comment on an ongoing probe. Between 2008 and 2010, it said the Indian government approved the licensed manufacturing of an additional 57 jets for 95 billion rupees ($1.16 billion) under a separate agreement with BAE Systems (Operations) Ltd.

☆ Top Delhi minister arrested in India liquor probe
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Feb 27 (Reuters) - India's federal investigating agency arrested a top local minister in the capital territory of New Delhi late on Sunday in connection with alleged irregularities in a liquor policy, the most high-profile arrest in the case so far. Manish Sisodia, the deputy chief minister in the Delhi government was arrested by India's federal crime agency, the CBI (Central Bureau of Investigation) late Sunday night and will be produced in a local court on Monday. Sisodia was arrested in an ongoing investigation in "a case related to alleged irregularities in framing & implementation of the excise policy", the CBI said in a release. His arrest is dirty politics," Arvind Kejriwal, Delhi's chief minister and head of the Aam Aadmi Party said in a tweet hours after Sisodia's arrest. India's financial crime-fighting agency, the Enforcement Directorate is separately investigating French liquor major Pernod Ricard for allegedly violating the same liquor policy.

☆ UK's De La Rue flags 'implicated' activities in India probe
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] The corporate logo of De La Rue is seen at De La Rue Malta at Bulebel Industrial Estate in Zejtun, Malta April 24, 2018. REUTERS/Darrin Zammit Lupi/File PhotoJan 20 (Reuters) - Banknote printer De La Rue (DLAR.L) said on Friday it had learnt that activities by the group in India prior to 2016 have been implicated in a probe by a top Indian investigation agency. De La Rue said in a statement the allegations relating to the group had no merit and it was seeking legal advice, but declined to comment further on the nature of the charges. The company confirmed it had supplied security threads for banknotes in India prior to 2016. "The company continues to explore further business opportunities, both in Kenya and for export from Kenya, with a view to restarting production if the economic climate permits," De La Rue said.

☆ India federal police arrests Videocon chairman Dhoot in loan fraud case
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Dec 26 (Reuters) - India's federal investigating agency has arrested Videocon Group (VEDI.NS) chairman Venugopal Dhoot in connection with a loan fraud case involving ICICI Bank (ICBK.NS), a source from the Central Bureau of Investigation (CBI) told Reuters on Monday. In early 2019, the CBI filed a case of criminal conspiracy and fraud against Dhoot, former ICICI Bank Chief Executive Chanda Kochhar and her husband Deepak Kochhar. The agency alleged that ICICI Bank, under Chanda Kochhar, sanctioned 'high value' loans to Videocon, violating the bank's lending policies, in exchange for an investment by the consumer electronics company's owner in a business headed by Kochhar's husband. The CBI arrested Chanda and Deepak Kochhar on Friday. Reporting by Arpan Chaturvedi; writing by Sudipto Ganguly; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Former ICICI Bank CEO Chanda Kochhar arrested in loan fraud case -source
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - India's federal investigating agency has arrested former ICICI Bank Ltd (ICBK.NS) Chief Executive Officer Chanda Kochhar in connection with a loan fraud case involving the bank and Videocon Group, a source from the Central Bureau of Investigation (CBI) told Reuters on Friday. Kochhar's husband, Deepak Kochhar, was also arrested as part of the case, according to the source. Kochhar was ousted as ICICI bank's CEO in 2019 following allegations of corruption. Indian enforcement authorities previously alleged that ICICI Bank, under Kochhar, sanctioned "high value" loans to Videocon Industries, violating the bank's lending policies. In exchange, Videocon's owner invested in NuPower Renewables, a company founded by Deepak Kochhar, the authorities have alleged.

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