All posts tagged: DubaiBased

Dubai-based Indian crorepati Satish Sanpal buys ‘3kg gold’ for wife every year, says ‘Money is not God’

Dubai-based Indian crorepati Satish Sanpal buys ‘3kg gold’ for wife every year, says ‘Money is not God’

Published by Parlour News

Netflix has released the trailer for its upcoming reality show, Desi Bling, which shines a spotlight on Dubai’s elite Indian diaspora and their extravagant lifestyles. The series features actors Karan Kundrra and Tejasswi Prakash, alongside prominent business figures such as Rizwan Sajan, founder and chairman of the Danube Group, and Satish Sanpal, founder of Anax Holding. Indian-origin businessman Satish Sanpal with wife Tabinda and daughter Isabella Sanpal. The trailer offers a glimpse into the glitz and glamour that will define the show, highlighting the opulent lifestyles of Dubai’s high-profile Indian community. Satish Sanpal’s gold obsession One standout moment in the trailer came from Tabinda Sanpal, wife of Indian-origin millionaire Satish Sanpal, who opened up about her husband’s love for gold. “Satish loves buying gold. He buys me 3 kilos of gold every year,” Tabinda revealed to the camera. For some context, a kilo of gold will cost around ₹1.5 crore — give or take a few lakhs depending on the current rate. Three kilos of gold, therefore, would mean an investment of upwards of ₹4.5 …

Delhi Police bust pan-India cyber fraud racket run by Dubai-based kingpin

Delhi Police bust pan-India cyber fraud racket run by Dubai-based kingpin

Published by Webster

The Delhi Police Crime Branch has dismantled a nationwide cyber fraud network allegedly operated by a Dubai-based Indian mastermind, arresting five individuals, including a bank relationship manager, for aiding in fraudulent financial transactions, news agency PTI reported, quoting officials on Friday. According to the police, the syndicate ran fake firms and opened multiple current accounts to launder money defrauded from victims across at least 12 states. “The accused earned a commission of  Rs 1.5 lakh for every bank account opened to facilitate the racket,” the police said in a statement. The arrested individuals — Manjeet Singh (28), Manshvi (23), Manish Mehra (33), Sombir (43), and Anup (35) — were nabbed from Delhi, Gurugram, and Hisar during coordinated raids after their locations were traced through digital surveillance, PTI reported. An investigation into an e-first information report (FIR) filed in June revealed that the group was acting under the instructions of a Dubai-based handler identified as Tom. Anup, who is a bank official, allegedly helped open fake current accounts and leaked internal alerts from the National Cybercrime …

Sambhal violence: Dubai-based gangster Shariq Satha named mastermind in UP police’s chargesheet

Sambhal violence: Dubai-based gangster Shariq Satha named mastermind in UP police’s chargesheet

Published by Webster

Uttar Pradesh Police Special Investigation Team (SIT) has filed chargesheets in several cases related to the Sambhal violence. The investigation has identified Shariq Sata as the alleged mastermind. In a major step taken by the Uttar Pradesh Police Special Investigation Team (SIT) during the investigation of Sambhal violence, the police arrested close associate of auto thief and alleged mastermind of the November 24 Sambhal violence Shariq Sata on Thursday. Fugitive gangster Shariq Sata is on police radar for his suspected role in the violence. Last year, violence erupted in Sambhal over the court-ordered survey of a Mughal-era mosque, killing four people, officials said on Friday.  The gangster, who is believed to be based in Dubai, is under probe for his alleged involvement in orchestrating criminal activities in India. Further, India TV has also learnt that the culprits conspire to assassinate Advocate Vishnu Shankar Jain during violence. Sambhal SP Krishan Kumar Vishnoi said that the aid of Shariq Sata confessed that there was a conspiracy to kill advocate Vishnu Shankar Jain during the Sambhal violence on 24th November …

Dubai-Based Bybit Faces Regulatory Action in Malaysia Over Alleged Unlicensed Operations

Dubai-Based Bybit Faces Regulatory Action in Malaysia Over Alleged Unlicensed Operations

Published by Webster

Malaysia, which has been actively cracking down on illegal crypto operations, has issued a notice to the Bybit crypto exchange. The Securities Commission Malaysia (SC) has instructed Bybit to suspend its services in the country. According to an official SC statement, the Dubai-based exchange has been operating its digital asset exchange (DAX) unlawfully in Malaysia. Governments worldwide are increasingly enforcing licensing requirements for crypto exchanges to protect their investors from scams and financial risks. Bybit complied with the SC’s directives by disabling its website and mobile app in Malaysia on December 27. The exchange also halted the distribution of advertisements and social media content promoting its platform and services, the SC said in an official post. “This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests. The SC views this breach seriously, as operating a DAX without obtaining the SC’s registration as a Recognised Market Operator (RMO) is an offence under Section 7(1) of the Capital Markets and Services Act 2007,” the SC noted. Earlier in December, the …

Dubai-Based Economic Freezone DIFC Gets Rules to Govern Web3 Firms: All Details Here

Published by Webster

Dubai, the emerging global hotspot for Web3 activities and businesses, has taken another crucial step to make things more lucrative for interested folks. A layer of regulations dedicated to overseeing the Web3 sector, has been laid upon the Dubai International Financial Centre (DIFC). This special economic freezone located in Dubai, was put in place in 2004. This freezone works under the Dubai Financial Services Authority – which is an independent regulator exclusive to the DIFC. With an influx of Web3 firms in Dubai, the regulator felt an immediate need to bring-in some new laws. Called the Digital Assets Law, this legislation adds some new Web3-centric rules while also making changes to existing laws around contracts, obligations, security, damages, remedies, and foundations. “DIFC is excited to announce the enactment of its Digital Assets Law. We consider this legislation to be groundbreaking as the first legislative enactment to comprehensively set out the legal characteristics of digital assets as a matter of property law, and to provide for how digital assets may be controlled, transferred and dealt with …