India’s largest private lender, HDFC Bank, and one of Mumbai’s prestigious private hospitals, Lilavati, have locked horns in a high-profile legal and financial battle. At the centre of it are serious allegations of fraud, fund misuse, and legal intimidation. Watch the video to find out what's exactly going on.

India's largest private lender, HDFC Bank, and one of Mumbai's prestigious private hospitals, Lilavati, have locked horns in a high-profile legal and financial battle.

Lilavati trust alleges HDFC Bank CEO of fraud: What's happening?

Lilavati trust alleges HDFC Bank CEO of fraud: What’s happening?

The Enforcement Directorate on Saturday said the RBI had issued a compounding order for Genpact India, against a one-time payment, resulting in termination of a FEMA against the technology major.
The agency had filed a complaint against the company in October 2018 for alleged contravention of the Foreign Exchange Management Act (FEMA) to the tune of about Rs 26 crore.
It issued a show cause notice to the firm and its directors in the same month ( and initiated adjudication proceedings.
Genpact subsequently filed an application before the Reserve Bank of India (RBI) for compounding of the said FEMA "contraventions".
On reference from the RBI, the ED issued "no objection" for such compounding in line with the true spirit of the Act (FEMA), and the banking regulator compounded the offence through an order issued on October 17 with a one-time payment of Rs 4.72 lakh to be made by the company, the ED said in a statement.
A compounding order in the regulatory context means a formal deci

The agency had filed a complaint against the company in October 2018 for alleged contravention of the Foreign Exchange Management Act (FEMA) to the tune of about Rs 26 crore

Press Trust of India

The Enforcement Directorate on Saturday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, for the second consecutive day in a money laundering case linked to an alleged bank loan fraud, officials said.
The statements of 34-year-old Anmol Ambai were recorded under the Prevention of Money Laundering Act (PMLA) for the first time on Friday, and the session is continuing on Saturday, they said.
The Reliance Anil Dhirubhai Ambani Group did not respond to the development. The ED probe is related to Yes Bank, which, according to the officials, had an exposure of about Rs 6,000 crore in the Reliance Anil Dhirubhai Ambani Group as of March 31, 2017, which doubled to Rs 13,000 crore within a year.
The companies involved included Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
A large portion of these investments turned into non-performing investments (NPIs) and the bank, subsequently, suffered a loss of Rs 3,300 crore from these dealings, the

The companies involved included Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL)

Billionaire Mukesh Ambani on Saturday said India must become a world leader in artificial intelligence, but stressed the need for greater empathy in adopting new-age tech.
The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions.
Speaking at an event here on the occasion of the International Human Solidarity Day, Ambani said RIL's telecom arm Jio has catapulted India into the digital mainstream of the world by laying the foundation with its services.
"... of course we need AI. We (India) must become world leaders in AI. But above all, we need empathy and compassion even more," Ambani said.
"By combining intelligence with empathy, prosperity with purpose, India can present a new model of development to the rest of the world," the richest Indian said.
He said there were many "disbelievers" about the telecom business even within RIL.
In an apparent refe

The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions

Artificial intelligence is a force multiplier in the education sector but unethical use of AI tools for cheating, data and privacy breach is a matter of concern, according to educationist Shishir Jaipuria.
Jaipuria, Chairman of the Seth Anandram Jaipuria Group of Educational Institutions, said the purpose of education is to nurture knowledgeable, skilled, conscientious and emotionally strong individuals who go on to make a positive impact on society, but the rat race defeats it and pushes students to take extreme steps.
The advent and prevalence of artificial intelligence has been a watershed moment in the history of human progress. AI is not just transforming industries, but also reshaping the jobs of the future. Its integration and application in the education sector will have far-reaching implications," Jaipuria told PTI.
AI platforms allow schools to map each child's learning style, identify the learning gaps, and recognise the strengths and weaknesses to optimise learning ...

The educationist also highlighted that teacher training and professional development have to be directed towards creating digital competencies to enable educators to leverage the full potential of AI

With the air quality in Delhi remaining close to 'severe' category, Environment Minister Manjinder Singh Sirsa on Saturday said strict action will be taken against polluting industries and those violating construction ban in the national capital.
Sirsa, citing forecast of the India Meteorological Department, said that a western disturbance is likely to impact Delhi on Sunday, which could lead to unfavourable weather conditions, further worsening air quality.
He said GRAP 4 restrictions are currently in force across the city.
The minister said authorities are receiving several complaints about construction activities taking place despite the ban, and warned that strict action will be taken against violators.
Sirsa directed all industries in Delhi to strictly comply with pollution control norms, stressing that no polluting industry should function during the enforcement period.
"We cannot compromise with the health of Delhi residents. Any industry found polluting or operating illega

The minister said authorities are receiving several complaints about construction activities taking place despite the ban, and warned that strict action will be taken against violators

The Supreme Court Bar Association on Saturday issued a letter expressing its "strongest condemnation" of the recent incident where Bihar Chief Minister Nitish Kumar pulled down the naqab of a woman doctor during a public ceremony in Patna.
The letter said it was shocking that a person holding such a high office should attempt to demean the dignity and autonomy of the woman by trying to pull down her headscarf.
The incident, a video clip of which has been circulated widely and sparked a major political row, took place on December 15 at the chief minister's secretariat in Patna when Ayush doctors had gathered to receive their letters of appointment. When the woman came up for her letter, Kumar saw her naqab, said "what is this?", and then removed the veil.
The Supreme Court Bar Association (SCBA) letter said, "Besides infringing on her autonomy, agency and religious freedom, it is a reflection of the depraving attitude against women in general."
It also condemned "the vile comments m

The letter said it was shocking that a person holding such a high office should attempt to demean the dignity and autonomy of the woman by trying to pull down her headscarf

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Lilavati trust alleges HDFC Bank CEO of fraud: What’s happening?

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