Online forex trading platform OctaFX allegedly used Indian Premier League (IPL) team Delhi Capitals to promote their App without authorisation by the Bombay Stock Exchange (BSE) or the Securities and Exchange Board of India (SEBI). This has been revealed by the Enforcement Directorate in its prosecution complaint against OctaFX, which is accused of cheating investors of over Rs800 crore by its Indian subsidiary.
On Tuesday, the special court for Prevention of Money Laundering (PMLA) Act took cognisance of the ED's prosecution complaint against OctaFX, promoted by Pavel Prozorov from Barcelona, Spain, and 52 other accused.
The ED has claimed that OctaFX entered into an agreement with the IPL team through its group company M/s Relegia Holdings Incorporated, registered at British Virgin Islands, and paid nearly Rs22 crore as sponsorship fees, which was used to pay cricketers and staff members.
Esta historia es de la edición December 25, 2024 de The Free Press Journal - Indore.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 25, 2024 de The Free Press Journal - Indore.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
School students learn conservation @Anubhuti camp
Students from Adarsh Eklavya Residential School, Morud, Madhya Pradesh, took part in the Anubhuti camp at Ralamandal Wildlife Sanctuary in Indore.
Indore Students Shine @ International Karate Championship
The city of Indore celebrated the remarkable achievements of its young karate champions following their stellar performances at the International Karate Championship.
Pvt Schools Raise Concerns Over New Rules, Submit Letter
Say new mandates biased against small schools
Sloka Chanting Competition for Tiny Tots
Balvatika’ of SICA School Scheme No.78, Indore, organised a Sloka chanting competition.
Wankhede kicks off celebrations of its 50 yrs
WITH FELICITATION OF FORMER CAPTAINS OF MUMBAI TEAM
56% disease burden due to unhealthy diet: ICMR
Shifting to balanced diets is key to combat the alarming nutrition crisis, caused by unhealthy diets, in India, said health experts.
World's who's who clamouring for passes
TRUMP'S INAUGURATION ON JAN 20
The Big Pickle
India's inaugural professional pickleball league is set to commence this January. Can this game take brands out of their high-spends, low-ROI pickle? Gaurav Natekar gives us perspective.
Getting To The Bottom Of It
How does one build mindshare in a crowded category like apparel? Dhruv Toshniwal believes that being laser-focused on pants is the way.
The Responsible Marketing Push
Thanks to the DPDP Act, marketers will have to innovate with storytelling, community building and contextual relevance, rather than invasive targeting.
