News digest: Another PNB fraud, Jaitley on scamsters, E-way bill, and more

Another PNB scam: After Nirav Modi, Rs 6.2 mn Mudra loan fraud reported

The Central Bureau of Investigation (CBI) has registered a fresh case related to fraudulent loans issued under Prime Minister Narendra Modi's flagship Micro Units Development and Refinance Agency (Mudra) scheme. The fraud was reported in Punjab National Bank, which is in the midst of another scam worth Rs 114 billion. Read more 

PNB fallout: Jaitley talks of tougher law to bring scamsters to justice

Without mentioning the Rs 11,300 crore fraud on state-run Punjab National Bank (PNB) involving diamantaire Nirav Modi, Finance Minister Arun Jaitley on Saturday said Indian law will be suitably amended to bring to bear the full weight of justice on fraudsters. Read more

Liberty House to approach NCLT on Bhushan Power bid rejection by creditors

The Sanjeev Gupta-led Liberty House will file a petition with the National Company Law Tribunal (NCLT) on Monday against the rejection of its bid to acquire debt-ridden Bhushan Power & Steel, which owes about Rs 450 billion to its lenders.

“We submitted the resolution plan 45 days before the completion of the 270-day deadline. So, the bid should have been accepted,” sources at Liberty House said. Read more

E-way bill to be rolled out on April 1 for inter-state carriage of products

The e-way bill, a mechanism to track the movement of goods as part of the goods and services tax (GST), is set to be introduced from April 1 for inter-state carriage of products worth over Rs 50,000.

Originally, the e-way bill was to be introduced from February1 but was postponed due to a system crash. Read more