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 alleged misappropriation of funds resulting in a wrongful loss to the IOB, Kilpauk Branch in Chennai. Acting on a complaint lodged by the bank’s chief regional manager, Devender Kumar, the CBI in its FIR said that the accused persons, with an intention to cheat the bank, conspired with unknown public servants and others and fraudulently/dishonestly availed of an enhanced cash credit limit of ₹16 crore, term loans of ₹5.3 crore, a letter of credit of ₹11 crore and a letter of guarantee of ₹60 lakh, sanctioned by the Zonal Level Credit Committee in 2018. The alleged actions of the accused, with criminal intentions, caused a wrongful loss of ₹25.89 crore to the bank as on December 31, 2021, and a corresponding wrongful gain to themselves, the investigating agency said.

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History of this topic

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW
1 week, 3 days ago

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW

The Hindu  

The Enforcement Directorate has restituted assets worth ₹4,025 crore to JSW, a Successful Resolution Applicant in the matter of the erstwhile Bhushan Power and Steel Limited under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code. The assets were provisionally attached by the ED under Section 5 of Prevention of Money Laundering Act as the erstwhile promoters of …

EPFO officer booked for amassing disproportionate assets
1 week, 3 days ago

EPFO officer booked for amassing disproportionate assets

Hindustan Times  

MUMBAI: The Central Bureau of Investigation registered a corruption case against an accounts officer working with the Employees’ Provident Fund Organization for allegedly amassing assets worth ₹125.44 lakh disproportionate to his and his wife’s known sources of income. EPFO officer booked for amassing disproportionate assets The agency is conducting a probe against the accused, who is currently working in Tamil …

CBI arrests advocate of bank for demanding bribe of ₹1.70 lakh
1 week, 5 days ago

CBI arrests advocate of bank for demanding bribe of ₹1.70 lakh

Hindustan Times  

Central Bureau of Investigation has arrested an advocate who is a member of the panel of Indian Bank, Kolhapur for demanding and accepting a bribe of ₹1.70 lakh from the complainant, the probe agency said on Tuesday. CBI conducted searches at the residential and official premises of the accused at Ichalkaranji which led to recovery of incriminating documents, said officials. …

Mumbai court approves monetisation of ₹2,565.9 crore in properties in Choksi fraud case
2 weeks ago

Mumbai court approves monetisation of ₹2,565.9 crore in properties in Choksi fraud case

Hindustan Times  

Mumbai: A special court in Mumbai on Tuesday permitted the monetisation of properties worth ₹2,565.9 crore that were attached or seized by the Enforcement Directorate since 2018 as part of its money laundering investigation against fugitive diamantaire Mehul Choksi in the alleged Punjab National Bank fraud. Mehul Choksi The court's decision followed an application from the victim banks, Punjab National …

Sebi bars Mishtann Foods, five directors from market
2 weeks, 5 days ago

Sebi bars Mishtann Foods, five directors from market

Live Mint  

Mumbai: The capital market regulator on Thursday barred Mishtann Foods Ltd and five of its directors from accessing the market, citing alleged financial misrepresentation and fraud. The interim order of the Securities and Exchange Board of India came after its investigation from 1 April 2017 to 31 March 2024 revealed alleged serious financial irregularities in the company engaged in the …

CBI books six in home loan fraud in Chennai; says developer inflated valuation
2 weeks, 5 days ago

CBI books six in home loan fraud in Chennai; says developer inflated valuation

New Indian Express  

CHENNAI: CBI anti-corruption bureau on Wednesday held searches in Tambaram related to a fraud case filed against six people, including an NRI, for duping SBI and diverted sanctioned home loans worth Rs 3.67 crore, which later became non-performing assets. According to FIR, CBI named P Arivalagan, director of Atchaya Royal Infrastructure, as first accused and B Jayachandran, Suryanarayanan, D Santosh, …

CBI conducts searches in Delhi-NCR in connection with Rs 117 crore cyber fraud case
Trending News
2 weeks, 6 days ago

CBI conducts searches in Delhi-NCR in connection with Rs 117 crore cyber fraud case

India TV News  

Cyber Fraud Case: The Central Bureau of Investigation conducted searches at 10 locations in Delhi and surrounding areas today in connection with an ongoing investigation of transnational cyber-enabled financial frauds involving Rs 117 crore, said officials. According to the CBI, the searches were conducted in an ongoing investigation into a case registered under Sections 403, 420 of the Indian Penal …

ED books IFS officer, husband, in investment fraud-linked money laundering case
3 weeks, 6 days ago

ED books IFS officer, husband, in investment fraud-linked money laundering case

Hindustan Times  

The Enforcement Directorate on Wednesday said that a chargesheet has been filed against Indian Foreign Service officer Neeharika Singh, her husband, and his companies in a money laundering case linked with an alleged investment fraud, PTI reported. What is the case The probe into the money laundering case began after the ED took note of the 33 First Information Reports …

Bank fraud case: ED raids ex-directors, promoters of Kwality Ltd
3 weeks, 6 days ago

Bank fraud case: ED raids ex-directors, promoters of Kwality Ltd

Deccan Chronicle  

New Delhi: The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act, the sources said. …

₹19.20 crore ration scam: Crime branch files charge-sheet against 13 ex-officers
1 month ago

₹19.20 crore ration scam: Crime branch files charge-sheet against 13 ex-officers

Hindustan Times  

Crime Branch, on Thursday, filed charge-sheet against 13 former officers, including the then nine assistant directors, two chief account officers and two tehsil supply officers in a major ration scam to the tune of ₹19.20 crore. ₹ 19.20 crore ration scam: Crime branch files charge-sheet against 13 ex-officers The scam was committed in Jammu rural in 2002, 2003, 2005 and …

Maharashtra bitcoin scam: CBI files case against Amit Bhardwaj and Ajay Bhardwaj amid ED raids in Raipur
1 month ago

Maharashtra bitcoin scam: CBI files case against Amit Bhardwaj and Ajay Bhardwaj amid ED raids in Raipur

India TV News  

Maharashtra bitcoin scam: The Central Bureau of Investigation on Wednesday filed a case against Amit Bhardwaj and Ajay Bhardwaj - accused in the Bitcoin Sam case. The matter took centerstage after former IPS officer from Pune Ravindranath Patil made an allegation against Sule and Patole over their alleged role in misappropriately using bitcoins from a 2018 cryptocurrency fraud case to …

ED slaps Rs 567 crore fine on TN firm in FEMA probe
1 month, 3 weeks ago

ED slaps Rs 567 crore fine on TN firm in FEMA probe

New Indian Express  

CHENNAI: The Enforcement Directorate, Chennai, on Friday said it has slapped a penalty of Rs 566.5 crore and ordered the confiscation of properties worth Rs 195 crore of Chennai-based GI Retail Private Ltd for violation of the Foreign Exchange Management Act in a case pertaining to transfer of shares of a company owned by it to German firm Wirecard through …

Four Arrested for ₹24 Crore Investment Scam Targeting 120 Investors
1 month, 4 weeks ago

Four Arrested for ₹24 Crore Investment Scam Targeting 120 Investors

The Hindu  

Four persons were arrested for a ₹24 crore investment scam targeting 120 investors in Hyderabad. The gang, led by directors of Squares and Yards Infra Pvt Ltd and Ad Avenues Pvt Ltd, lured the victims with their buyback scheme, promising monthly returns for 100 months. However, after collecting money from the victims, they shut down the company and paid monthly …

IPS Officer Bhagyashree Navtake Arrested for Forgery and Conspiracy in ₹1,200 Crore Scam
2 months, 1 week ago

IPS Officer Bhagyashree Navtake Arrested for Forgery and Conspiracy in ₹1,200 Crore Scam

The Hindu  

Central Bureau of Investigation (CBI) has booked an IPS officer named Bhagyashree Navtake for forgery and criminal conspiracy in a ₹1,200 crore scam probe. The CBI investigation found instances of forgery, including registering three cases under one crime in a single day and obtaining complainants’ signatures without their presence. The case was filed based on a CID report highlighting procedural …

Two held for defrauding Noida authority of ₹3.9 cr in 2023 FD scam
3 months, 1 week ago

Two held for defrauding Noida authority of ₹3.9 cr in 2023 FD scam

Hindustan Times  

The Noida Police have arrested two people, including the mastermind, for allegedly defrauding the Noida authority of ₹3.9 crore in 2023 during a fixed deposit scam, officers said on Saturday. On June 30, 2023, posing as an accounts officer from the Noida authority’s finance department, a conman allegedly transferred ₹3.90 crore from the authority’s bank account to various other accounts, …

₹1,438.45 cr bank loan fraud: ED attaches assets worth ₹43.52 cr linked to UIL
3 months, 1 week ago

₹1,438.45 cr bank loan fraud: ED attaches assets worth ₹43.52 cr linked to UIL

Hindustan Times  

MUMBAI: The Mumbai zonal unit of the Enforcement Directorate has provisionally attached movable and immovable assets worth ₹43.52 crore as part of its money-laundering investigation related to a ₹1,438.45 crore bank loan default case involving metal trading company Ushdev International Limited and others. The loan funds granted to Mumbai-headquartered UIL were allegedly diverted to different entities in the “guise of …

Two booked for cheating employees of ₹55 lakh PF money
3 months, 1 week ago

Two booked for cheating employees of ₹55 lakh PF money

Hindustan Times  

PUNE The Yerawada police have booked the director and founder chairman of Greatwall Corporate Services Pvt Ltd for an alleged ₹54.70 lakh provident fund fraud. Yerawada police have booked director and founder chairman of Greatwall Corporate Services Pvt Ltd for alleged ₹ 54.70 lakh provident fund fraud. ) The complaint lodged by Rahul Eknath Kokate, 52, on September 10, 2024, …

Two cyber crime victims refunded ₹1.09 crore in Hyderabad
3 months, 1 week ago

Two cyber crime victims refunded ₹1.09 crore in Hyderabad

The Hindu  

The Hyderabad Cyber Crime police, on Tuesday, refunded ₹1.09 crore to victims in two different cyber fraud cases. According to the police, the man was conned on the pretext of trading in institutional account on a platform named ‘Lazardoosvip.top’ and was promised substantial profits. In the second such case, a 62-year-old man was conned of ₹32.10 lakh on the pretext …

Telangana Cybercrime Police Arrest Two in ₹175 Crore Fraud Case
3 months, 4 weeks ago

Telangana Cybercrime Police Arrest Two in ₹175 Crore Fraud Case

Deccan Chronicle  

Telangana Cybercrime officials have arrested two individuals involved in a massive ₹175 crore fraud. The investigation was initiated after the Cyber Security Bureau's data analysis team flagged numerous complaints reported on the National Cybercrime Reporting Portal against six bank accounts in the State Bank of India Shamsheergunj branch. The investigation linked approximately 600 complaints to these accounts.The primary suspect, operating …

₹494cr bank fraud case: 97% of loans given were irregular, turned NPA, says ED
4 months ago

₹494cr bank fraud case: 97% of loans given were irregular, turned NPA, says ED

Hindustan Times  

Mumbai: The Enforcement Directorate’s money-laundering probe in connection with the ₹494-crore fraud Shivajirao Bhosale Sahakari Bank in Pune, has revealed that the key managerial accused persons of the bank allegedly utilised disbursed loan amounts for their own benefit by giving approvals to irregular loan cases, thereby resulting in 97% of such loan cases turning into Non-Performing Assets, causing loss of …

Karnataka govt orders closure of accounts with SBI, PNB over non-refund of deposits
4 months, 1 week ago

Karnataka govt orders closure of accounts with SBI, PNB over non-refund of deposits

Hindustan Times  

The Karnataka government has ordered all its departments, boards, corporations, public sector units and universities to withdraw all their deposits and investments in the State Bank of India and the Punjab National Bank and stop transacting any business with these institutions. ₹ 10 crore deposited by the Karnataka State Pollution Control Board was not returned by the bank owing to …

ED conducts search operations in Nagpur, Kolkata, Vishakhapatnam in ₹4,000 crore bank loan fraud case
4 months, 1 week ago

ED conducts search operations in Nagpur, Kolkata, Vishakhapatnam in ₹4,000 crore bank loan fraud case

The Hindu  

The Enforcement Directorate’s Nagpur sub-zonal office carried out three days of search operations from August 12 to August 14 at 14 official and residential premises in Nagpur, Kolkata, and Vishakhapatnam as part of a money laundering investigation. ED officials said on Wednesday they are investigating a bank loan fraud by M/s Corporate Power Limited and its promoters and directors: Manoj …

₹2,000-crore ‘scam’: Ex-minister Ashu in judicial custody
4 months, 1 week ago

₹2,000-crore ‘scam’: Ex-minister Ashu in judicial custody

Hindustan Times  

The additional sessions court here on Monday sent former Punjab food and civil supplies and consumer affairs minister Bharat Bhushan Ashu to judicial custody in connection with an alleged ₹2,000-crore foodgrain transportation-linked money-laundering case. Bharat Bhushan Ashu Ashu, who was arrested by the ED on August 1, had been in the central agency’s custody since August 2. In August last …

Nainital Bank’s server hacking: Police freeze ₹1.90 crore across India
4 months, 3 weeks ago

Nainital Bank’s server hacking: Police freeze ₹1.90 crore across India

Hindustan Times  

Noida: The cybercrime branch police of Noida has got over ₹1.90 crore frozen in various banks located across the country in connection with a Nainital bank’s server hack case in which some unidentified accused allegedly siphoned off ₹16.71 crore in 84 transactions using the bank manager’s credential between June 16 to 20, officers said on Friday. Apart from the frozen …

I-T refund fraud case: Enforcement Directorate attaches fresh assets
5 months, 1 week ago

I-T refund fraud case: Enforcement Directorate attaches fresh assets

The Hindu  

“The Enforcement Directorate has attached assets of various people, including the husband of an IPS officer, in connection with a money-laundering investigation linked to an alleged Income Tax refund fraud case of ₹263 crore in Maharashtra,” the agency said. The ED has provisionally attached a flat in Mumbai of Purushottam Chavan, land parcels in Lonavala and Khandala of Rajesh Brijlal …

ED files charge sheet, attaches assets of ex-Jharkhand minister Alamgir Alam, linked persons
5 months, 2 weeks ago

ED files charge sheet, attaches assets of ex-Jharkhand minister Alamgir Alam, linked persons

The Hindu  

The Enforcement Directorate has filed a charge sheet and also attached assets worth more than ₹4 crore of former Jharkhand Rural Development Minister Alamgir Alam, his ex personal secretary and the aide's domestic help as part of a money laundering investigation. In a statement on July 6, the federal agency said it has issued a provisional attachment order under the …

Fresh trouble for Vijay Mallya, CBI issues non-bailable warrant in ₹180-crore loan default case
5 months, 3 weeks ago

Fresh trouble for Vijay Mallya, CBI issues non-bailable warrant in ₹180-crore loan default case

Hindustan Times  

Fugitive businessman Vijay Mallya is now facing a fresh legal action by the Central Bureau of Investigation as a special CBI court issued a non-bailable warrant against him in the ₹180-crore loan default case linked to Indian Overseas Bank. Fugitive businessman Vijay Mallya The CBI, in its warrant, said the now-defunct Kingfisher Airlines promoter caused a wrongful loss of ₹180 …

ED attaches assets worth over ₹27 crore in cheating case
5 months, 3 weeks ago

ED attaches assets worth over ₹27 crore in cheating case

The Hindu  

The Kochi unit of the Enforcement Directorate has provisionally attached assets valued at ₹27.88 crore in a cheating case involving PRD Mini Nidhi Limited, under the Prevention of Money Laundering Act, 2002. The attached assets include immovable properties in the name of the prime accused, Anilkumar D., managing director of the firm, and his family members, and David George, former …

CID recovers ₹3.5 crore from official’s premises
6 months, 1 week ago

CID recovers ₹3.5 crore from official’s premises

Hindustan Times  

Criminal Investigation Department officers investigating the alleged multi-crore scam in the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation recovered ₹3.5 crore from premises linked to managing director JG Padmanabha, officials familiar with the matter said. The suicide of a state government employee has unravelled a scam of ₹ 94.73 crore from a government corporation by officials of the nationalised bank …

CBI takes over ₹5,717 crore bank fraud case against 28 people accused of deliberately defaulting on loans
6 months, 1 week ago

CBI takes over ₹5,717 crore bank fraud case against 28 people accused of deliberately defaulting on loans

The Hindu  

The Central Bureau of Investigation has taken over an alleged bank fraud case against 28 people, including the directors and promoters of 12 private companies, who have been accused of deliberately defaulting on loans to the tune of ₹5,717 crore. According to the CBI, SKS Power Generation Limited, promoted by SKS Ispat & Power Limited had taken loans to the …

Axis Bank fined ₹1.66 crore for failing to detect and report fraud NSG account and transaction
6 months, 1 week ago

Axis Bank fined ₹1.66 crore for failing to detect and report fraud NSG account and transaction

Hindustan Times  

Axis Bank has been fined more than ₹1.66 crore by the Financial Intelligence Unit for "failing" to place a mechanism to detect and report suspicious transactions, following one such incident at one of its branches involving a fraudulent account in the name of counter-terrorist commando force NSG, PTI reported. Representational An Axis Bank manager was alleged to have been part …

Axis Bank Hit With Rs 1.66 Cr Fine By FIU For Failing To Detect Fraud NSG Account
6 months, 1 week ago

Axis Bank Hit With Rs 1.66 Cr Fine By FIU For Failing To Detect Fraud NSG Account

News 18  

The Financial Intelligence Unit has slapped a fine of more than Rs 1.66 crore on Axis Bank for “failing” to put in place a mechanism to detect and report suspicious transactions carried out at one of its branches by creating a “fraud” account in the name of counter-terrorist commando force NSG. According to the summary order accessed by PTI, the …

SIT to Probe Rs 87 Crore Fraud in Karnataka Tribal Corporation Bank
6 months, 3 weeks ago

SIT to Probe Rs 87 Crore Fraud in Karnataka Tribal Corporation Bank

Deccan Chronicle  

Bengaluru: The State Government on Friday constituted a Special Investigation Team under Criminal Investigation Department to investigate the alleged fraudulent transactions in the accounts of Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Limited, a Government of Karnataka undertaking, in Union Bank of India, M.G. The SIT investigation into the alleged fraudulent bank transactions in Maharshi Valmiki Scheduled Tribes Development Corporation …

Ludhiana: 3 FCI officials among 4 in CBI net on graft charges
7 months ago

Ludhiana: 3 FCI officials among 4 in CBI net on graft charges

Hindustan Times  

The Central Bureau of Investigation has apprehended four persons, manager and two technical assistants of the FCI, Mullanpur Dhaka, Ludhiana, and a private person in a ₹50,000 bribery case. The Central Bureau of Investigation has apprehended four persons, manager and two technical assistants of the FCI, Mullanpur Dhaka, Ludhiana, and a private person in a ₹ 50,000 bribery case. A …

Weekly Digest Of IBC Cases: 13th To 19th May 2024
7 months ago

Weekly Digest Of IBC Cases: 13th To 19th May 2024

Live Law  

NCLAT NCLAT Delhi Evokes Doctrine Of 'Approbate & Reprobate', Imposes Rs. 124 of 2023 The National Company Law Appellate Tribunal Delhi, comprising Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey evokes the Doctrine of 'Approbrate and Reprobrate' imposing a cost of Rs. 1589 of 2023 The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan, Mr. …

CBI arrests Dheeraj Wadhawan in Rs 34,000 crore DHFL bank fraud investigation
7 months, 1 week ago

CBI arrests Dheeraj Wadhawan in Rs 34,000 crore DHFL bank fraud investigation

India TV News  

The Central Bureau of Investigation made a significant breakthrough on Tuesday as it apprehended Dheeraj Wadhawan in connection with the Rs 34,000 crore DHFL bank fraud probe. SEBI's actions In February of this year, the Securities Exchange Board of India took action by ordering the attachment of bank accounts, shares, and mutual fund holdings belonging to former DHFL promoters Dheeraj …

CBI arrests Dheeraj Wadhawan in ₹34,000 crore DHFL fraud
7 months, 1 week 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 …

Seizure of ₹3.99 crore | Madras High Court dismisses plea for a probe by ED under money laundering law
8 months ago

Seizure of ₹3.99 crore | Madras High Court dismisses plea for a probe by ED under money laundering law

The Hindu  

The Madras High Court on Wednesday, April 24, 2024, dismissed a writ petition that sought a probe by the Enforcement Directorate with respect to the seizure of ₹3.99 crore from three train passengers at Tambaram railway station in Chennai on April 7, and another reported seizure of ₹28.5 lakh from the DMK Tirunelveli East district secretary’s office on April 4. …

ED attaches Rs 98 cr assets of Raj Kundra, Shilpa Shetty
8 months ago

ED attaches Rs 98 cr assets of Raj Kundra, Shilpa Shetty

New Indian Express  

NEW DELHI: The Enforcement Directorate said on Thursday that it has attached movable and immovable properties worth Rs 97.79 crore belonging to Bollywood actor Shilpa Shetty and her husband Raj Kundra in connection with of a money-laundering case. The properties include a residential flat in Juhu, which is in the name of Shilpa Shetty, another residential bungalow in Pune and …

CBI Files Cases Against MEIL for Alleged Bribery in NMDC Contracts
8 months, 1 week ago

CBI Files Cases Against MEIL for Alleged Bribery in NMDC Contracts

Deccan Chronicle  

HYDERABAD: The CBI registered criminal cases against Hyderabad-based Megha Engineering and Infrastructure Limited for allegedly offering Rs 78 lakhs in bribes to eight officers of National Mineral Development Corporation and other firms for sanction of bills related to a Rs 314-crore contract for the construction of an integrated steel plant in Bastar, Chhattisgarh. finance) retired and K. Rajshekar, general manager, …

ED attaches immovable assets of a hotel worth ₹44 crores under money laundering case
9 months, 1 week ago

ED attaches immovable assets of a hotel worth ₹44 crores under money laundering case

The Hindu  

The Enforcement Directorate, Mumbai, on Saturday said that they have provisionally attached immovable properties consisting of 2nd, 3rd, 4th and 5th floor of Hotel One Continent at King Koti Road, Sultan Bajaar, Abids, Hyderabad, to the extent of ₹43.84 crore under the provisions of Prevention of Money Laundering Act, 2002, in loan fraud case of the Punjab and Maharashtra Cooperative …

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident
9 months, 1 week ago

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident

The Hindu  

In an intriguing case that has many twists and turns, an Income Tax search in Mangaluru recently, which led to the seizure of ₹5 crore belonging to IDBI Bank, has ended with the bank seeking a CBI investigation into the episode. The case unfolded in mid-December 2023, when Income Tax sleuths swooped down on a business establishment near Kankanady where …

ED freezes ₹123-crore in illegal online loans, gambling, and betting apps case
9 months, 3 weeks ago

ED freezes ₹123-crore in illegal online loans, gambling, and betting apps case

The Hindu  

The Enforcement Directorate has frozen about ₹123 crore, kept in the bank accounts of NIUM India Private Limited allegedly on behalf of Singapore-based shell entities, in connection with a case involving illegal online loans, gambling, and betting apps. The premises of NIUM India Private Limited and its Mumbai-based directors; Xoduz Solution Private Limited, Vikrah Trading Enterprises, Tyrannus Technology, Future Vision …

Misappropriation tantamount to exchequer loot: Registrar of Companies Kerala
10 months, 1 week ago

Misappropriation tantamount to exchequer loot: Registrar of Companies Kerala

New Indian Express  

KOCHI: The office of the Registrar of Companies Kerala on Monday informed the High Court that misappropriation of funds in Cochin Minerals and Rutile Ltd is tantamount to looting of public exchequer and it will have an impact on the general industrial development of the state. Citing the complaint filed by Shone George, the ROC pointed out that as a …

ED attaches ₹2 crore assets in bank fraud case
10 months, 2 weeks ago

ED attaches ₹2 crore assets in bank fraud case

Hindustan Times  

: Enforcement Directorate on Wednesday provisionally attached two immovable properties worth ₹2.15 crore belonging to a stakeholder of a private firm under the provisions of Prevention of Money Laundering Act, 2002 in a bank fraud case. HT Image The firm allegedly misappropriated a nationalised bank’s funds causing it to suffer financial losses. They further informed that ED initiated investigation on …

CBI takes over probe into ₹1.86 cr fraud by investment firm
10 months, 3 weeks ago

CBI takes over probe into ₹1.86 cr fraud by investment firm

Hindustan Times  

MUMBAI: The Central Bureau of Investigation has taken over investigation in two cases of alleged fraud worth ₹1.86 crore by High Brow Market Research Investment Adviser Pvt Ltd, an Indore-based market research consultancy and investment firm. The complainant alleged that from January 2018 to July 2018, he transferred funds worth ₹1.61 crore to the bank account of High Brow Market …

MSC Bank 'Scam': ED Searches Baramati Company Of NCP Chief Sharad Pawar's Grand Nephew
11 months, 2 weeks ago

MSC Bank 'Scam': ED Searches Baramati Company Of NCP Chief Sharad Pawar's Grand Nephew

ABP News  

The Enforcement Directorate raided the premises of Baramati Agro, a firm owned by MLA Rohit Pawar, the grand nephew of NCP supremo Sharad Pawar, and related organisations on Friday as part of a money laundering investigation into the alleged Maharashtra State Cooperative Bank scam, according to official sources, news agency PTI reported. The MSCB money laundering case arises from a …

Sanjay Bhandari case: ED adds two fresh accused in supplementary chargesheet, Court reserves order on cognizance
1 year ago

Sanjay Bhandari case: ED adds two fresh accused in supplementary chargesheet, Court reserves order on cognizance

Hindustan Times  

New Delhi, December 20 : The Rouse Avenue Court of Delhi on Wednesday reserved the order on cognizance point on supplementary prosecution complaint recently filed in a money laundering case related to controversial Arms Dealer Sanjay Bhandari and others. On November 10, 2023, Rouse Avenue Court allowed Robert Vadra to travel abroad and visit Austria and Switzerland for two weeks …

₹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 …

Enough material against Naresh Goyal to process money laundering case: Court
1 year, 1 month ago

Enough material against Naresh Goyal to process money laundering case: Court

India Today  

A special court in Mumbai said on Friday that there was sufficient material to "prima facie establish the involvement" of Jet Airways founder Naresh Goyal and his wife in a money laundering case linked to an alleged bank fraud of Rs 538 crore. "The materials accompanying the Prosecution Complaint prima facie indicate how the proceeds of crime were generated through …

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