Bengaluru to host inaugural edition of GITEX Ai India 2027
Bengaluru (PTI): GITEX GLOBAL, the world's largest technology and AI events network, will make its India debut with GITEX Ai India, to be held in April 2027 in Bengaluru, officials said on Thursday.
The event will be organised by Dubai World Trade Centre (DWTC) and KAOUN International in strategic partnership with Karnataka's Department of Electronics, Information Technology and Biotechnology, they said.
According to an official statement, the announcement was made at GITEX GLOBAL 2025 in Dubai, where the Indian tech community has consistently been one of the largest participating delegations, reflecting the strong and long-standing ties between Indian innovators and the GITEX ecosystem.
Recognised globally as India's technology capital, Karnataka contributes 42 per cent of India's software exports, houses over 50 per cent of the country's AI and deep-tech talent and is home to the largest concentration of unicorns and GCCs (Global Capacity Centers) in the nation, it said.
Bengaluru's thriving startup ecosystem, robust R&D infrastructure and strong academic-industry linkages make it the natural choice to host GITEX's first India edition, it added.
Speaking on the development, Information Minister Priyank Kharge said: "Welcoming GITEX Ai India to Bengaluru is a proud moment for us. Discussions around this began during GITEX Africa earlier this year, and I'm glad our Department and the GITEX team were able to make it possible."
"With our deep talent base, strong research ecosystem and global connectivity, Karnataka is the natural anchor for the inaugural GITEX Ai India 2027. We look forward to showcasing the best of our innovation to the world," he added.
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Rs 640 crore cyber fraud: SC refuses anticipatory bail to CA in ED case
New Delhi (PTI): The Supreme Court on Wednesday refused to grant anticipatory bail to a chartered accountant in a money laundering investigation linked to a Rs 640 crore cyber fraud case.
A bench of Justices MM Sundresh and Augustine George Masih upheld the order of the Delhi High Court which had denied pre-arrest bail to Bhaskar Yadav and directed him to surrender in 10 days.
The high court on February 2 dismissed anticipatory bail applications by Yadav and Ashok Kumar Sharma.
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In the 22-page judgement, the high court had said there was an "intricate mesh of laundering of money", and the need expressed by the Enforcement Directorate to interrogate the two accused in custody was not unreasonable.
"The accused/applicants, being skilled professionals, have allegedly crafted laundering of proceeds of crime across multiple layers, and to unearth the same, I find substance in the submission of learned counsel for DoE (Directorate of Enforcement) that custodial interrogation is much required," the HC said.
"It is not a case of mere dealing in cryptocurrency, which per se is not a crime in this country and the liability of the accused persons is confined to paying tax on the crypto transactions. The present cases exhibit a vast intricate mesh of movement of money, fraudulently extracted out of pocket of gullible investors, who appear to be primarily belonging to middle class," it had added.
The high court had stated that individual liberty was sacrosanct, but it could not brush aside the requirement to carry out a meaningful interrogation and investigation in the larger interest of the country's economy.
It had noted there were fresh complaints of the accused allegedly assaulting the investigating officers, bribing the local police to settle cyber fraud complaints and destroying electronic evidence.
The money laundering probe stems from two FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police that were registered to probe charges of cyber fraud to the tune of Rs 640 crore generated through betting, gambling, part-time jobs and phishing scams, the ED has earlier said in a statement.
As per the agency, the money of gullible people was siphoned off by layering funds cheated from them through more than 5,000 mule Indian bank accounts and subsequently uploaded on PYYPL, a UAE-based payment platform.
Part of the cyber fraud money was withdrawn in cash in Dubai through debit and credit cards issued by various Indian banks, it said.
According to the probe agency, the alleged scam was being run through a nexus of certain CAs, company secretaries and crypto traders who worked in tandem to launder the proceeds of crime.
