Allahabad Bank reports ₹1775 core fraud by Bhushan Power & Steel
5 years, 5 months ago

Allahabad Bank reports ₹1775 core fraud by Bhushan Power & Steel

Live Mint  

New Delhi: After Punjab National Bank, another state-owned lender Allahabad Bank Saturday reported a fraud of over ₹1,774 crore by Bhushan Power and Steel to the Reserve Bank of India. In a regulatory filing, Allahabad Bank said on the basis of the findings of the forensic audit investigation and the CBI's FIR against the company and its directors, alleging diversion of funds from banking system by Bhushan Power and Steel Ltd, a fraud of ₹1,774.82 core has been reported by the bank to the RBI. It is expected that more banks would report fraud committed by Bhushan Power and Steel as the CBI complaint registered in April named several other lenders. According to the CBI, Bhushan Power and Steel diverted around ₹2,348 crore through its directors and staff from the loan accounts of PNB, Oriental Bank of Commerce, IDBI Bank and UCO Bank into the accounts of more than 200 shell companies without any obvious purpose.

Bank Power Steel Company Cbi Pnb Bhushan Bhushan Power Bhushan Power And Steel  bhushan  ifb  company  funds  allahabad  kolkata  power  bank  fraud  steel  pnb  core  reports  crore  1775

History of this topic

RBI Report: Bank frauds increased eight-fold in first half of current fiscal
2 weeks ago

RBI Report: Bank frauds increased eight-fold in first half of current fiscal

Deccan Chronicle  

New Delhi: Facing multiple challenges for the financial system in the country, the Reserve bank of India on Thursday said that the number of bank frauds witnessed a significant rise of eight-fold to Rs 21,367 crore in over 18,000 cases in the first half of the current fiscal. “The number of frauds during April-September stood at 18,461 involving Rs 21,367 …

Bank fraud allegations must never be levelled lightly
5 months, 3 weeks ago

Bank fraud allegations must never be levelled lightly

Live Mint  

The Reserve Bank of India’s latest revision of its Master Circular on Fraud Risk Management in banks and other regulated entities has not come a day too soon. This revision of instructions follows a recent Supreme Court ruling which said the principles of natural justice demand that the borrower be given a chance and time to respond to a charge …

CBI arrests Dheeraj Wadhawan in ₹34,000 crore DHFL fraud
7 months, 3 weeks ago

CBI arrests Dheeraj Wadhawan in ₹34,000 crore DHFL fraud

Hindustan Times  

The Central Bureau of Investigation has arrested Dheeraj Wadhawan, promoter of Dewan Housing Finance Ltd, in connection with the ₹35,000 crore fraud with a consortium of 17 banks led by Union Bank of India, people familiar with the development said. The Wadhawan brothers were arrested by CBI on July 19, 2022, but on December 3 same year, a trial court …

₹130-crore bank fraud : CBI court frames charges
1 year ago

₹130-crore bank fraud : CBI court frames charges

Hindustan Times  

A special CBI court has framed charges against five of the six accused in the alleged ₹130-crore bank fraud from 2020. An FIR into the matter was lodged in January 2020 on a complaint by chief manager, large corporate branch, PNB, Sector 17, Chandigarh. Charges have been framed against two bank officials, Ravi Rashmi Dhar, the then DGM of Punjab …

CBI searches premises of firm in ₹3,847.58-crore cheating case
1 year, 3 months ago

CBI searches premises of firm in ₹3,847.58-crore cheating case

Hindustan Times  

The Central Bureau of Investigation on Saturday carried out searches at four premises linked to a city-based firm and four of its promoters, who are accused of cheating a consortium of banks, led by State Bank of India, of ₹3,847.58 crore. The bank has alleged that the firm, Unity Infraprojects Limited, allegedly diverted the loan money it had obtained from …

Private firm under CBI scanner for causing losses of ₹387 crore to banks
1 year, 4 months ago

Private firm under CBI scanner for causing losses of ₹387 crore to banks

Hindustan Times  

MUMBAI: The Central Bureau of Investigation has initiated two separate probes against a private firm for allegedly cheating and causing losses to the tune of around ₹387 crore to the Canara Bank and the Central Bank of India. The bank’s complaint accused Varun Industries Ltd, and its directors, unknown directors/ officials of the company, unknown public servant, and others for …

Construction firm booked by CBI for cheating bank of ₹91.92 crore
1 year, 4 months ago

Construction firm booked by CBI for cheating bank of ₹91.92 crore

Hindustan Times  

The Central Bureau of Investigation has booked a construction company and its directors for allegedly duping Union Bank of India to the tune of ₹91.92 crore. In 2009, the company had obtained various credit facilities from the bank which were renewed and enhanced from time to time and the last credit facility was sanctioned/enhanced to ₹95 crore in 2013, the …

Two private firms, its directors booked for duping bank of ₹16.85 crore
1 year, 5 months ago

Two private firms, its directors booked for duping bank of ₹16.85 crore

Hindustan Times  

Mumbai: Two private firms, along with four other persons, have been booked recently for allegedly cheating Union Bank of India of ₹16.85 crore after diverting the sanctioned credit facilities to the borrower. HT Image According to the Central Bureau of Investigation, the loan account of the private venture – a Nagpur-based poultry firm – was classified as a Non-Performing Asset …

CBI books Delhi firm for cheating Union Bank of India of Rs 46 crore
1 year, 6 months ago

CBI books Delhi firm for cheating Union Bank of India of Rs 46 crore

India TV News  

The Central Bureau of Investigation filed an FIR against Delhi-based company Horizon Solution for allegedly cheating Union Bank of India to the tune of over Rs 46 crore in a loan fraud, officials said on Friday. The CBI has booked the East of Kailash-based company, its proprietor Zeba Urfi and guarantor Zaib Un Nisa on charges of criminal conspiracy, cheating, …

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium
1 year, 7 months ago

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium

Hindustan Times  

Mumbai: The Central Bureau of Investigation recently registered a case against a Raigad-based steel processing firm and its directors for allegedly causing a loss of ₹1,017.93 crore to a State Bank of India -led bank consortium in the form of unpaid loans. The SBI, which is the complainant in the case, alleged that the firm had siphoned off a portion …

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot
1 year, 8 months ago

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot

Hindustan Times  

Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision in connection with an alleged fraud case wherein coins worth ₹11 crore had gone missing from the vaults of a State Bank of India branch in Rajasthan’s Karauli. Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision …

CBI books directors of Chennai steel firm for cheating bank of ₹25.89 crore
1 year, 11 months ago

CBI books directors of Chennai steel firm for cheating bank of ₹25.89 crore

The Hindu  

The Central Bureau of Investigation has booked the directors of a steel firm on charges of cheating the Indian Overseas Bank and causing a loss to the tune of ₹25.89 crore. The agency’s Economic Offences Branch has registered a case against M/s SAR ISPAT Private Ltd., and its directors Sanjay Kumar Sharma, Sandeep Kothari, Vikranth Sharma and others, for the …

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case
2 years ago

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case

Op India  

The Central Bureau of Investigation on Friday filed three fresh FIRs against fugitive diamantaire Mehul Choksi and two jewellery brands, Nakshatra Brands Limited and Gitanjali Gems Limited. The FIRS were against Nakshatra Brands Ltd and Gitanjali Gems Ltd, Mehul Choksi, who is the managing director of Gitanjali Gems Ltd and guarantor for Nakshatra Brands Ltd; Dhanesh Vrajlal Sheth, director of …

CBI Files Fresh FIRs Against Fugitive Mehul Choksi, Jewellery Brands Gitanjali and Nakshatra in Rs 6,700 Cr Bank Fraud Case
2 years ago

CBI Files Fresh FIRs Against Fugitive Mehul Choksi, Jewellery Brands Gitanjali and Nakshatra in Rs 6,700 Cr Bank Fraud Case

News 18  

The Central Bureau of Investigation on Friday filed three fresh FIRs against fugitive businessman Mehul Choksi, and jewellery brands Gitanjali and Nakshatra. The FIRs were filed on a complaint from the Punjab National Bank bringing to light an additional Rs 6,746 crore loss incurred by it and other consortium banks, officials said. Four years after his dramatic escape and failure …

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case
2 years ago

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case

India Today  

The Central Bureau of Investigation has registered two fresh FIRs against fugitive diamentaire Mehul Choksi and two jewellery brands--Nakshatra Brands Limited and Gitanjali Gems Limited--for defrauding a consortium of banks of over Rs 6,000 crore. CBI officials received complaints from Vijay Kumar Wadhwa, deputy general manager of the zonal office of the Punjab National Bank in Mumbai, against Nakshatra Brands …

Crime Branch Officials Still Unclear About Total Money Embezzled: Report - News18
2 years, 1 month ago

Crime Branch Officials Still Unclear About Total Money Embezzled: Report - News18

News 18  

As cases pile up in the multi-crore fraud at the Punjab National Bank in Kerala, the Kozhikode district Crime Branch team that has been entrusted with the probe in the scam is reportedly still unclear about the actual amount lost in the embezzlement. According to a report by The Hindu, three new cases have been registered in the case and …

Supreme Court Issues Notice To Punjab National Bank On Serious Fraud Investigation Office's Pleas Alleging Fund Embezzlement In Bhushan Steel Ltd.
2 years, 2 months ago

Supreme Court Issues Notice To Punjab National Bank On Serious Fraud Investigation Office's Pleas Alleging Fund Embezzlement In Bhushan Steel Ltd.

Live Law  

A Supreme Court bench comprising Chief Justice U.U. Lalit and Justices S. Ravindra Bhat and Bela M. Trivedi on Wednesday issued notice to Punjab National Bank on petitions filed by the Serious Fraud Investigation Office regarding alleged siphoning of funds of Bhushan Steel Ltd.The SFIO had submitted before the court that the accused were complicit in embezzlement of funds and. …

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders
2 years, 4 months ago

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders

News 18  

The Enforcement Directorate recently attached assets worth Rs 415 crore of Maharashtra’s two builders in relation to the Yes Bank-DHFL bank loan fraud-linked money laundering case. The DHFL scam is India’s biggest financial fraud involving Rs 34,000 crore, in which a total of 17 banks have been defrauded by this home loan provider. Here’re four biggest financial scams in India: …

CBI files fresh case against Mehul Choksi for defrauding Canara Bank of Rs 55 crore
2 years, 5 months ago

CBI files fresh case against Mehul Choksi for defrauding Canara Bank of Rs 55 crore

India Today  

The Central Bureau of Investigation has filed a fresh case against diamond trader and fugitive Mehul Choksi for defrauding a Canada Bank-led consortium to the tune of Rs 55 crore, officials said. According to the FIR, Canara Bank and Bank of Maharashtra had sanctioned Rs 30 Crores and Rs 25 crore, respectively, as working capital facility under a consortium arrangement …

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country
2 years, 6 months ago

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country

Firstpost  

Former promoters of Dewan Housing Finance Ltd are among 13 accused who have been arrested for defrauding a consortium of 17 banks of Rs 34,615 crore The CBI has booked former CMD Kapil Wadhawan and director Dheeraj Wadhawan of Dewan Housing Finance Ltd in the “biggest” banking fraud in India. The audit of DHFL account books showed that the company …

CBI books DHFL's Kapil, Dheeraj Wadhawan, others in India's biggest bank fraud of Rs 34,615 crore
2 years, 6 months ago

CBI books DHFL's Kapil, Dheeraj Wadhawan, others in India's biggest bank fraud of Rs 34,615 crore

India Today  

The Central Bureau of Investigation is conducting searches in Maharashtra at 12 locations at premises linked to DHFL, its promoters Kapil Wadhawan, Dheeraj Wadhawan, businessman Sudhakar Shetty and others in connection with a Rs 34,614 crore bank fraud case. According to the FIR, Dewan Housing Finance Corporation Limited, its then Chief Managing Director Kapil Wadhawan, then Director Dheeraj Wadhawan, businessman …

CBI books DHFL’s Kapil, Dheeraj Wadhawan in ₹34,000 crore case, conducts raids
2 years, 6 months ago

CBI books DHFL’s Kapil, Dheeraj Wadhawan in ₹34,000 crore case, conducts raids

Hindustan Times  

The Central Bureau of Investigation on Wednesday raided 12 locations in Mumbai after booking Dewan Housing and Finance Limited ’s Kapil and Dheeraj Wadhawan for allegedly cheating a consortium of Union Bank of India-led 17 banks of ₹ 34,615 crore. According to the Union Bank of India’s complaint to the CBI cited in the FIR, a special review was carried …

CBI Books DHFL's Kapil, Dheeraj Wadhawan in Rs 34,000-Cr Bank Fraud Case
2 years, 6 months ago

CBI Books DHFL's Kapil, Dheeraj Wadhawan in Rs 34,000-Cr Bank Fraud Case

News 18  

The Central Bureau of Investigation, or CBI has filed a new case against DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, officials said on Wednesday, June 22. The case has been registered against the two Dewan Housing Finance Corporation Ltd or DHFL promoters for cheating a consortium of 17 banks led by the Union Bank of India to the tune of …

Bank Fraud: Lenders to Approach RBI to Seek Change in Definition; Here's Why
2 years, 7 months ago

Bank Fraud: Lenders to Approach RBI to Seek Change in Definition; Here's Why

News 18  

As part of efforts to move away from the requirement of all banks to label a borrowing company and all its accounts as ‘fraud’ when one lender puts such a fraud tag, banks are planning to approach the Reserve Bank of India to seek a change in the definition of ‘fraud’, according to an ET report. The current rule of …

Bank Fraud Case: CBI Grills ABG Shipyard Ltd Chairperson Rishi Kamlesh Aggarwal
2 years, 10 months ago

Bank Fraud Case: CBI Grills ABG Shipyard Ltd Chairperson Rishi Kamlesh Aggarwal

The Quint  

The agency has seized incriminating documents, i.e, account books of ABG Shipyard, its sale-purchase details, minutes of board meetings, share registers, and contract files. Bank account details of ABG Shipyard and related parties have also been obtained. The fraud is primarily on account of a huge transfer by ABG Shipyard Ltd to its related parties and subsequently making adjustment entries. …

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM
2 years, 10 months ago

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM

The Hindu  

Finance Minister Nirmala Sitharaman said that the Opposition has put its foot on the proverbial axe by raising a hue and cry about the biggest banking fraud of ₹22,842 crore perpetrated on banks by ABG Shipyard, stressing that the account had turned into a non-performing asset in November 2013 while the UPA was in power. While it normally takes 52 …

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt
2 years, 10 months ago

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt

ABP News  

New Delhi: Taking a dig at Prime Minister Narendra Modi over the recent alleged bank fraud incidents in the country, Congress leader Rahul Gandhi on Sunday said such frauds have never taken place with people’s money in the history of Independent India. “Till now Rs 5,35,000 crore bank frauds have taken place during Modi era - never in 75 years …

ABG Shipyard: Know all about India's biggest bank fraud case
2 years, 10 months ago

ABG Shipyard: Know all about India's biggest bank fraud case

Hindustan Times  

The Central Bureau of Investigation has registered an FIR against ABG Shipyard Ltd and its directors, including chairman and managing director Rishi Kamlesh Agarwal, in what could be the biggest bank fraud case in the history of India. The Central Bureau of Investigation has filed a case against ABG Shipyard Ltd for allegedly cheating a consortium of 28 banks and …

ABG Shipyard duped SBI and 27 other banks of Rs 22,842 crore: Know all about India's biggest bank fraud
2 years, 10 months ago

ABG Shipyard duped SBI and 27 other banks of Rs 22,842 crore: Know all about India's biggest bank fraud

India TV News  

Highlights CBI books ABG in biggest bank fraud case Funds were used for purposes other than for which they were released by banks The company was sanctioned credit facilities from 28 banks and financial institutions India's biggest bank fraud case: The Central Bureau of Investigation is carrying out searches at several places linked to ABG Shipyard in Mumbai in connection …

CBI books two Lucknow firms for defrauding banks worth Rs 45 crore
2 years, 11 months ago

CBI books two Lucknow firms for defrauding banks worth Rs 45 crore

India Today  

The Central Bureau of Investigation in Uttar Pradesh's Lucknow has booked two firms for reportedly cheating two banks of about Rs 45 crore in separate cases. The matter came to light when an employee of the bank lodged an FIR claiming that Globix firm misused the credit sanction limit it had received for trading in agro-commodities, reported the Times of …

CBI registers case against Hyderabad private company for Rs 218 crore SBI loan fraud
2 years, 11 months ago

CBI registers case against Hyderabad private company for Rs 218 crore SBI loan fraud

India Today  

The Central Bureau of Investigations has registered a fraud case against a Hyderabad-based firm for allegedly committing bank fraud worth over Rs 218 crore. The CBI registered a case against a private company based at Ameerpet in Telangana’s Hyderabad and others, including its managing director, a director & unknown public servants and private persons. The complaint alleged that the private …

CBI books Omkar Speciality Chemicals, directors for alleged ₹145.51-crore loan fraud
3 years ago

CBI books Omkar Speciality Chemicals, directors for alleged ₹145.51-crore loan fraud

The Hindu  

The Central Bureau of Investigation has booked Omkar Speciality Chemicals Limited and its eight directors for allegedly causing a loss of ₹145.51 crore to the Bank of Baroda. Stock statement The bank alleged that the company's audited balance sheet in 2016, 2017 and 2018 showed significant difference in the stock statement. In order to get higher drawing power, the accused …

ED attaches Rs 1.74 crore bank balance in fraud case against Bhushan Power
3 years, 3 months ago

ED attaches Rs 1.74 crore bank balance in fraud case against Bhushan Power

India Today  

The Enforcement Directorate has attached bank balance to the tune of Rs 1.74 crore in connection with a money laundering case involving Bhushan Power & Steel Limited, officials said. The development came just a week after the financial probe agency had attached a residential building in Mumbai’s posh Worli area in connection with a money laundering case lodged against Bhushan …

ED attaches Rs 190-crore Mumbai building in bank fraud case against Bhushan Power
3 years, 3 months ago

ED attaches Rs 190-crore Mumbai building in bank fraud case against Bhushan Power

India Today  

The Enforcement Directorate has attached a residential building in Mumbai’s posh Worli area in connection with a money laundering case lodged against Bhushan Power & Steel Ltd. The building worth over Rs 190 crore, located at Ceejay House in Worli, has been attached under Prevention of Money Laundering Act as part of the ED’s investigation against Sanjay Singal, former chief …

CBI books Amrapali Biotech, directors in alleged ₹48 crore bank fraud
3 years, 5 months ago

CBI books Amrapali Biotech, directors in alleged ₹48 crore bank fraud

Live Mint  

The Central Bureau of Investigation has filed an FIR against Amrapali Biotech and its directors over allegations of duping Punjab National Bank to the tune of ₹47.97 crore. The original bank of concern was Oriental Bank of Commerce, which was merged with Punjab National Bank, with effect from April 1, 2020, under the mass public-sector banks' consolidation. The Central Bureau …

CBI books private company, others for causing loss of Rs 2435 crore to banks
3 years, 6 months ago

CBI books private company, others for causing loss of Rs 2435 crore to banks

India TV News  

The Central Bureau of Investigation on Thursday registered a case against a Mumbai-based private company and its officials for causing an alleged loss of Rs 2435 crore to banks including the State Bank of India. It was alleged that the accused had cheated the SBI and other consortium member banks including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, …

PNB Scam: CBI Accuses Choksi of Destroying Evidence in New Chargesheet; Gitanjali's Ex-officials Named
3 years, 6 months ago

PNB Scam: CBI Accuses Choksi of Destroying Evidence in New Chargesheet; Gitanjali's Ex-officials Named

News 18  

The CBI has filed a chargesheet against the former international head of the Gitanjali Group of Companies, Sunil Verma, and others in connection with an alleged fraud in the PNB involving an amount of over Rs 7,080 crore, in which the promoter of the group, Mehul Choksi, is wanted by the agency. The supplementary chargesheet, filed more than three years …

CBI files two cases for alleged bank fraud of over Rs 200 crore
3 years, 10 months ago

CBI files two cases for alleged bank fraud of over Rs 200 crore

India TV News  

The Central Bureau of Investigation has registered two separate cases related to bank fraud and conducted searches at 8 locations in Delhi, Ahmedabad, Gandhinagar and Gurgaon. The first case was registered against a private company based at Ahmedabad and others including its Directors and unknown public servants/persons on a complaint from State Bank of India. State Bank of India, Ahmedabad …

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi
3 years, 11 months ago

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi

News 18  

The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. Choksi, 61, is the maternal uncle of Nirav Modi who is the other prime accused in the alleged over USD 2 …

Rs 3,269 crore fraud! CBI books Shakti Bhog Foods for duping SBI-led group of banks
4 years ago

Rs 3,269 crore fraud! CBI books Shakti Bhog Foods for duping SBI-led group of banks

India TV News  

Delhi-based Shakti Bhog Foods Limited was booked by the Central Bureau of Investigation on Friday for an alleged fraud of Rs 3,269 crore. The forensic audit done by the bankers pointed out that the company, in its account books of financial year 2015-16, showed that its inventory worth over Rs 3,000 crore got damaged due to pests and was sold …

CBI registers about 190 cases of bank fraud in 2020
4 years ago

CBI registers about 190 cases of bank fraud in 2020

The Hindu  

The Central Bureau of Investigation registered about 190 cases of bank fraud in year 2020, involving alleged misappropriation of close to ₹60,000 crore. Surana Corporation case Another entity that made it to the list was Surana Corporation Limited, which along with others was booked in October for allegedly cheating six banks of ₹2.930 crore. In February, the agency had registered …

Big bank fraud! Consortium of banks suffer loss of over Rs 4,837 crore, CBI probe underway
4 years ago

Big bank fraud! Consortium of banks suffer loss of over Rs 4,837 crore, CBI probe underway

India TV News  

The Central Bureau of Investigation has registered a case against a private company based at Hyderabad and others including its managing Director, Joint Managing Director, and unknown public servants/others on a complaint from State Bank of India, Hyderabad. It was alleged that the accused in connivance with unknown public servants and others defrauded the consortium of Public Sector Banks, consisting …

CBI books Ahmedabad-based firm for cheating
4 years ago

CBI books Ahmedabad-based firm for cheating

The Hindu  

The Central Bureau of Investigation booked Ahmedabad-based Steel Konnet Private Limited and others for allegedly cheating the Bank of Baroda and causing a loss of more than ₹100 crore. The agency also named Varun Vijay Gupta and Vivek Vijay Gupta as accused, while the bank officials involved in managing the loan account have also come under the scanner. Some of …

Bank fraud! CBI files chargesheet against 24 accused for alleged loss of over Rs 297 crore to various banks
4 years ago

Bank fraud! CBI files chargesheet against 24 accused for alleged loss of over Rs 297 crore to various banks

India TV News  

The Central Bureau of Investigation has today filed a chargesheet before Special Judge for CBI cases, Mumbai against 24 accused including a private company based at Mumbai, its director, Chartered Accountant, then officials of Indian Overseas Bank, Directors/proprietor of associated companies/firms etc for causing an alleged loss of Rs 297.80 crore to the bank. Out of these nationalized banks, Indian …

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases
4 years ago

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases

India TV News  

The State Bank of India and Punjab and Sind Bank have been allegedly cheated of over Rs 131 crores in two separate cases of fraud. The first case was registered on a complaint from SBI against a private company based in Gujarat's Ahmedabad and others including directors, public servants, and unknown others on the allegations of cheating the State Bank …

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills
4 years ago

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills

News 18  

Probing a Rs 299-crore Indian Overseas Bank loan fraud case, similar to the alleged USD 2 billion worth PNB swindle, the Enforcement Directorate has found that the accused “paid” for the air travel and hotel stay of a senior bank manager and his family as kickbacks. The central probe agency said “lapses” were also detected on the part of at …

CBI Raids Several Locations in 2 Separate Bank Fraud Cases Worth Rs 1,000 Crore
4 years ago

CBI Raids Several Locations in 2 Separate Bank Fraud Cases Worth Rs 1,000 Crore

News 18  

The Central Bureau of Investigation on Friday carried out searches at several locations in Hyderabad, Guntur and Tamil Nadu in connection with two separate cases of bank frauds involving amounts to the tune of Rs 7,926.01 crore and Rs 313.79 crore respectively, officials said. A CBI official said that the agency has registered a case against Hyderabad-based Transstroy Ltd, its …

Over Rs 8,000 crore bank fraud! SBI, Canara Bank register complaint against private firms
4 years ago

Over Rs 8,000 crore bank fraud! SBI, Canara Bank register complaint against private firms

India TV News  

The Central Bureau of Investigation has registered two separate cases related to bank fraud to the tune of Rs. The first case has been registered against a Hyderabad-based private company and others including its CMD, Additional Directors, unknown public servants and others on a complaint from Canara Bank. It was also alleged that the accused misappropriated bank's funds and diverted …

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases
4 years ago

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases

India TV News  

In a major banking fraud, prominent banks in the country have been cheated of over 500 crore rupees. According to the complaints registered with the probe agency, a consortium of banks including the State Bank of India was duped of Rs 452.62 crores and Bank of Baroda of Rs 73 crores. The first case was registered on the complaint from …

Punjab and Sind Bank declares DHFL loan account as fraud
4 years, 4 months ago

Punjab and Sind Bank declares DHFL loan account as fraud

Live Mint  

Public sector lender Punjab and Sind Bank on Wednesday said it has declared its exposure of ₹815.44 crore to Dewan Housing Finance Corp Ltd as fraud. ".it is informed that a non-performing asset account -- Dewan Housing Finance Corporation Limited -- with outstanding dues of ₹815.44 crore has been declared as fraud and reported to RBI as per regulatory requirement. …

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