Japan stops cash for bullet train after project stalled over land row
The protest against land acquisition for the Ahmedabad-Mumbai bullet train project has become a huge roadblock for the cash flow from Japan.
The latest installment that funding agency Japan International Cooperation Agency (JICA) was supposed to release for last quarter, did not reach, said sources from Gujarat government. The JICA stopped the payment on the grounds that the project did not show any progress due to several disputes.
A senior state official, said on condition of anonymity, "As issues over acquisition of land for the bullet train project surfaced in Gujarat as well as in Maharashtra, no progress could be made. The agreements for payment of installment is conditional and the funds arrive from JICA if the progress is constant. The first installment of Rs 125 crore was sanctioned when the Japanese PM visited Gujarat in last September."
"The state government has been trying hard to expedite the land acquisition by talking to farmers. The next installment of fund will not arrive unless the progress is achieved," said the official.
The JICA has agreed to provide nearly Rs. 80,000 crore for the High Speed Rail Project (HSRP) estimated at 1 lakh crore.
The amount to be provided by the Japanese body to India will be given in installments as a soft loan for 15 years. The fund will come in installments.
While the rest of Rs. 20,000 crore will be paid by Gujarat and Maharashtra state government jointly and that too in installments. The special purpose vehicle (SPV) for the project was formed with the equity of Rs. 500 crore in last September only.
The chief secretary of Gujarat Dr JN Singh coordinates with different partner agencies in the project on behalf of Gujarat government. Talking on the issue, Singh said, "The Gujarat government is hardly aware of any development of cash flow from JICA for the project as it is not our purview. If that has happen in any case, the installment will come in future anytime as it comes viz a viz project implementation."
The revenue minister Kaushik Patel said that the Gujarat government was seriously making effort for land acquisition and CM has asked the government to ensure that no farmer should be meted with injustice in due process.
Courtesy: www.dnaindia.com
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CBI chargesheets 4 Chinese behind Rs 1,000 cr cyber crime racket; 111 shell companies unmasked
New Delhi (PTI): The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore through a sprawling web of shell entities and digital scams, officials said on Sunday.
After busting the racket in October, investigators unravelled a single, tightly coordinated syndicate that relied on an elaborate digital and financial infrastructure to run a range of frauds. These included misleading loan applications, fake investment schemes, Ponzi and multi-level marketing models, bogus part-time job offers and fraudulent online gaming platforms.
According to the probe agency's final report, the group layered the flow of illicit funds through 111 shell companies, routing about Rs 1,000 crore via mule accounts. One account received more than Rs 152 crore in a short span.
The shell companies, the CBI said, were incorporated using dummy directors, forged or misleading documents, fake addresses and false statements of business objectives.
"These shell entities were used to open bank accounts and merchant accounts with various payment gateways, enabling rapid layering and diversion of proceeds of crime," a CBI spokesperson said in a statement.
Investigators traced the origins of the scam to 2020, when the country was grappling with the COVID-19 pandemic. The shell companies were allegedly incorporated at the direction of four Chinese handlers -- Zou Yi, Huan Liu, Weijian Liu and Guanhua Wang.
Their Indian associates procured identity documents from unsuspecting individuals, which were then used to establish the network of shell companies and mule accounts to launder proceeds from the scams and obscure the money trail.
The investigation exposed communication links and operational control that, the agency said, nailed the role of Chinese masterminds running the fraud network from abroad.
"Significantly, a UPI ID linked to the bank accounts of two Indian accused was found to be active in a foreign location as late as August 2025, conclusively establishing continued foreign control and real-time operational oversight of the fraud infrastructure from outside India," the CBI statement said.
The probe found that the racketeers employed a highly layered, technology-driven modus operandi, using Google advertisements, bulk SMS campaigns, SIM-box-based messaging systems, cloud infrastructure, fintech platforms and multiple mule bank accounts.
"Each stage of the operation -- from luring victims to collection and movement of funds -- was deliberately structured to conceal the identities of the actual controllers and evade detection by law enforcement agencies," the spokesperson said.
The chargesheet names 17 individuals, including the four Chinese nationals, and 58 companies.
The investigation was launched on the inputs from the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs, which flagged large-scale cheating of citizens through online investment and employment schemes, resulting in the arrest of three individuals in October.
"Though initially appearing as isolated complaints, detailed analysis by CBI revealed striking similarities in applications used, fund-flow patterns, payment gateways and digital footprints, pointing towards a common organised conspiracy," the agency said.
Following the October arrests, the CBI conducted searches at 27 locations across Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Jharkhand and Haryana, seizing digital devices, documents and financial records that were later subjected to detailed forensic examination.
