Page 5 - Bank Fraud

Syndicate Bank fraud case: Enforcement Directorate attaches Rs 5-cr assets

The central probe agency said its investigation in the case was initiated on the basis of an FIR filed by the Bengaluru Police

CBI books Fedderes Electric and its promoters in bank fraud case

The CBI has registered an FIR against Fedderes Electric and Engineering Limited and its promoters for allegedly cheating an SBI-led consortium of banks to the tune of Rs 1,028.94 crore, officials said Friday. The central probe agency conducted a search operation on Friday at seven locations in Delhi, Noida, Gurgaon and Bulandshahr. "It has been alleged in the complaint that the accused including private company & its Directors had cheated the banks by way of diversion of funds and sham transactions with related parties," a CBI spokesperson said. The agency has alleged that the company produced fabricated account books, misrepresented figures to borrow funds and siphoned off various loan proceeds. The allegations were based on forensic audit report, the spokesperson said. Along with the company, the CBI has also booked its promoters Akhtar Aziz Siddiqi, Sham Sundar Dhawan, Bindu Dogara, Ritushri Sharma, Arun Kumar Joshi and Randhir Jain.

Indian Bank reports 3 NPA accounts worth over Rs 35 cr as fraud to RBI

Indian Bank on Thursday reported three accounts as fraud to the RBI with total outstanding of over Rs 35 crore

Deepak Puri can be treated in India, not required to go abroad, CBI to HC

Deepak Puri is booked in a bank fraud case

CBI books IVRCL in Rs 4,837 cr-bank fraud after extensive searches

The Hyderabad-based firm is under liquidation following an NCLT order in 2019, brought on by mounting debts and defaults

CBI files charge sheet against Aluminex, IOB staff in Rs 300 cr fraud case

The CBI Tuesday filed a charge sheet against Parekh Aluminex Ltd (PAL) and its director, besides some officials of Indian Overseas Bank (IOB) in an alleged bank fraud case worth Rs 297.80 crore

Bank liable for fraudulent card transactions

An RBI circular says the customer is not liable for unauthorised transactions that occur due to contributory fraud, negligence, or deficiency on the bank's part

CBI searches 3 locations in Delhi in Rs 1,800-crore bank fraud case

The CBI on Friday carried out searches at three locations here after booking Jay Polychem Ltd in a Rs 1,800-crore alleged bank fraud in the State Bank of India, officials said.

CBI files FIR against rice export firm for over Rs 1,200 crore bank fraud

The CBI has booked Delhi-based Amira Pure Foods Pvt Ltd and its top executives including promoter Karan Chanana and Managing Director Rajesh Arora for allegedly cheating a consortium of a dozen banks

A year later, PMC Bank depositors still struggling to get their money back

PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.

Top headlines: Apple's first online store in India, RBI' OMOs, and more

Here are the top headlines of the day

CBI searches 5 places in Delhi, MP for Rs 938 cr SBI loan fraud case

The searches were being carried out in Madhya Pradesh's Morena and the office premises of KS Oils Ltd on Delhi's Barakhamba Road, as also of its Managing Director and promoters

Bank fraud case: CBI raids multiple locations in Madhya Pradesh's Morena

A team of the Central Bureau of Investigation (CBI) is conducting raids at multiple locations in Morena in connection with a bank fraud case

ED slaps biggest ever FEMA notice of Rs 7,220-cr on Kolkata jewellery firm

The central probe agency has charged Shree Ganesh Jewellery House Ltd and its promoters by an order issued by the adjudicating authority of FEMA in Kolkata

Rs 411-crore fraud: SBI approaches CBI as three loan defaulters flee India

Besides SBI, other members of the consortium that has been cheated are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank

Parliament: Why govt has no record on farmer income, who will own LIC

Finance Minister said that listing of LIC will give opportunity for retail investors to participate in the creation of wealth

FinMin's new measures to protect prudent commercial decision of bankers

Finance Minister Nirmala Sitharaman at several occasions assured bankers that adequate measures would be taken to protect honest commercial decisions taken by them

Bank fraud case: ED attaches media group's assets worth over Rs 124 crore

The group companies "fraudulently" availed loans to the tune of Rs 2,600 crore from banks

PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht

These assets belong to HDIL group firms owned by Rakesh Wadhawan and his son Sarang, the prime accused in the Rs 6,500-crore scam at the cooperative lender

Courts crack whip on Mallya, Nirav Modi in 2019; relief for Ajit Pawar

Under the Fugitive Economic Offences Act, the court can order attachment of offenders' properties