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Delhi Court Grants Bail to Chinese National in Vivo India  Money Laundering Case In a significant development in the Vivo India money laundering case, Delhi’s Patiala House Court on November 11 granted regular bail to Guangwen alias Andrew , a Chinese national and administrative manager at Vivo India, who was previously detained under charges of money laundering related to alleged proceeds of crime worth ₹20,000 crores . Guangwen had been in judicial custody since October 2023 and was released on bail under specific terms and conditions. Court’s Decision and Reasoning for Bail Additional Sessions Judge (ASJ) Kiran Gupta presided over the bail application, assessing the overall circumstances, including the period of custody, prior conduct, and existing evidence against Andrew. The court emphasized that although Andrew was employed at Vivo India, no substantial personal financial gain was reported in his accounts, apart from his legitimate salary. In granting bail, the court noted t...

Oberoi Hotel Group Family Dispute: Delhi High Court  Issues Injunction on PRS Oberoi’s Shares In a significant development in the Oberoi Hotel Group family dispute, the Delhi High Court on September 12, 2024, issued an interim order in favor of Anastasia Oberoi, daughter of the late veteran hotelier PRS Oberoi. The lawsuit, filed by Anastasia, has brought into focus the contentious issue of inheritance and the control of shares in EIH Limited, which manages the renowned Oberoi and Trident hotel chains. The Dispute: Control Over PRS Oberoi’s Estate The lawsuit was filed by Anastasia Oberoi, alleging that her brother Vikramjit Oberoi, sister Natasha Oberoi, and cousin Arjun Oberoi, along with the executors of PRS Oberoi’s will, were conspiring to obstruct the execution of the will and manipulate the distribution of shares and properties left behind by their late father. The case revolves around the control of the family’s substantial holdings in EIH Limited, Oberoi Hotels Pvt. Ltd., ...

Hindenburg Alleges SEBI Chairperson and Husband Had Hidden Stakes in Offshore Funds Linked to Adani Scandal On August 10, 2024, Hindenburg Research, a US-based hedge fund, dropped a bombshell with its latest report, accusing SEBI Chairperson Madhabi Buch and her husband, Dhaval Buch, of having hidden stakes in offshore entities linked to the Adani money siphoning scandal. This revelation comes amidst ongoing scrutiny of the Adani Group's financial practices and raises serious questions about regulatory oversight in India. Allegations by Hindenburg Research Hindenburg Research's report alleges that Madhabi Buch and Dhaval Buch had investments in obscure offshore funds based in Bermuda and Mauritius. These funds, according to the report, are intricately linked to Vinod Adani, who is allegedly involved in the Adani Group's financial irregularities. The report cites whistleblower documents and claims that the Buchs' investments were made through IPE Plus Fund 1, an entity w...