ABG Shipyard bank fraud: SBI claims there was no delay in the filing of case
3 years, 1 month ago

ABG Shipyard bank fraud: SBI claims there was no delay in the filing of case

India TV News  

ABG Shipyard bank fraud: SBI claims there was no delay in the filing of case ABG Shipyard fraud is much higher than the one perpetrated by Nirav Modi and his uncle Mehul Choksi, who allegedly cheated the Punjab National Bank of around Rs 14,000 crore through the issuance of fraudulent Letters of Undertaking. Highlights CBI recently booked ABG Shipyard Limited for allegedly fraud case cheating a consortium of lenders Congress GS Randeep Singh Surjewala asked why it took 5 years to lodge an FIR against the company SBI wrote to the CBI in November 2018 stating that there was a fraud committed by ABG Shipyard Amid allegations of delay in filing of a complaint against the country's biggest bank fraud totalling Rs 22,842 crore, the State Bank of India on Sunday said it has been diligently following the ABG Shipyard fraud case with the CBI following the forensic audit report. The Central Bureau of Investigation recently booked ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of two dozen lenders led by ICICI Bank. Surjewala said SBI wrote to the CBI in November 2018 stating that there was a fraud committed by ABG Shipyard and seeking the registration of an FIR and criminal action.

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History of this topic

PNB loan scam: Court orders auction of assets owned by Mehul Choksi's firm
1 month, 2 weeks ago

PNB loan scam: Court orders auction of assets owned by Mehul Choksi's firm

India Today  

A Special CBI Court in Mumbai on Thursday granted permission for the auction of unsecured properties belonging to Gitanjali Gems Limited, a company owned by fugitive diamantaire Mehul Choksi. The court order lists several properties in Mumbai and Surat that will be auctioned: 7 flats in Kheni Tower in Mumbai’s Santacruz 1 Commercial Unit in Bharat Diamond Bourse, in Mumbai’s …

Bank chairman and ex official denied bail in ₹494 crore co-op bank fraud case
4 months, 2 weeks ago

Bank chairman and ex official denied bail in ₹494 crore co-op bank fraud case

Hindustan Times  

Mumbai: A special Prevention of Money Laundering Act court has rejected the bail pleas of Anil Bhosale, chairman of Shivajirao Bhosale Cooperative Bank, and Mangaldas Vittahlrao Bandal, former chairman of Pune Zilla Parishad, in connection with an alleged ₹494 crore bank fraud case in Pune. The prosecution, opposing Bhosale's bail plea, argued that as chairman and promoter, he was the …

CBI arrests Dheeraj Wadhawan in ₹34,000 crore DHFL fraud
10 months, 2 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 …

Construction firm booked by CBI for cheating bank of ₹91.92 crore
1 year, 7 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 …

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium
1 year, 10 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 …

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case
2 years, 3 months 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, 3 months 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, 3 months 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 …

ABG Shipyard fraud case: CBI files charge sheet against ex-chairman Rishi Agarwal, others
2 years, 4 months ago

ABG Shipyard fraud case: CBI files charge sheet against ex-chairman Rishi Agarwal, others

The Hindu  

The CBI on Saturday filed a charge sheet against former ABG group chairman Rishi Agarwal and other individuals and entities in connection with the alleged ₹22,842-crore bank fraud in the ABG Shipyard Ltd, officials said on Saturday. In its charge sheet filed before the special CBI court here, the agency has named as accused Mr. Agarwal and five individuals and …

Explained: How Nirav Modi scammed Punjab National Bank for Rs 14,000 crore
2 years, 4 months ago

Explained: How Nirav Modi scammed Punjab National Bank for Rs 14,000 crore

Firstpost  

Nirav Modi and his uncle, Mehul Choksi, created a complex web of deception through fraudulent Letters of Undertaking to siphon off Rs 14,000 crore from state-owned Punjab National Bank New Delhi: Pulling off one of the biggest bank frauds in the country, fugitive diamantaire Nirav Modi and his uncle Mehul Choksi created a complex web of deception through fraudulent Letters …

CBI arrests ABG founder-chairman Rishi Agarwal in Rs 22,842-crore bank fraud case
2 years, 6 months ago

CBI arrests ABG founder-chairman Rishi Agarwal in Rs 22,842-crore bank fraud case

Deccan Chronicle  

NEW DELHI: The CBI arrested the founder-chairman of ABG Shipyard Limited, Rishi Kamlesh Agarwal, on Wednesday in connection with an alleged bank fraud of more than Rs 22,842 crore, officials said. The Central Bureau of Investigation had booked Agarwal, a former chairman of the company, and others for the alleged offences of criminal conspiracy, cheating, criminal breach of trust and …

DHFL Scam: CBI Seizes AgustaWestland Helicopter from Pune Premises of Builder Avinash Bhosale
2 years, 8 months ago

DHFL Scam: CBI Seizes AgustaWestland Helicopter from Pune Premises of Builder Avinash Bhosale

News 18  

The CBI has seized an AgustaWestland helicopter from the premises of builder Avinash Bhosale in Pune in connection with the Rs 34,615-crore bank fraud case involving DHFL, officials said Saturday. The federal probe agency had booked Dewan Housing Finance Ltd, its former CMD Kapil Wadhawan, Director Deepak Wadhawan and others on June 20 in the bank fraud case worth Rs …

CBI seizes AgustaWestland helicopter from Pune premises of builder Avinash Bhosale
2 years, 8 months ago

CBI seizes AgustaWestland helicopter from Pune premises of builder Avinash Bhosale

India TV News  

Highlights CBI has seized an AgustaWestland helicopter from the premises of builder Avinash Bhosale in Pune CBI has been carrying out searches at various locations for few days to locate assets of fraud The CBI has seized an AgustaWestland helicopter from the premises of builder Avinash Bhosale in Pune in connection with the Rs 34,615-crore bank fraud case involving DHFL, …

CBI Files Charge Sheet Against Builder Avinash Bhosale in Yes Bank-DHFL Scam
2 years, 8 months ago

CBI Files Charge Sheet Against Builder Avinash Bhosale in Yes Bank-DHFL Scam

News 18  

The CBI has filed a charge sheet against noted Pune-based builder Avinash Bhosale and his companies in connection with the Yes Bank-DHFL scam, officials said on Monday. The agency has also named Satyan Gopaldas Tandon, Metropolis Hotels LLP, ABIL Infraprojects Pvt Ltd, ABIL Hospitality Pvt Ltd, Arindam Developers, Avinash Bhosale Group and Flora Developments Ltd in connection with the case …

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country
2 years, 9 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 in Rs 34,000-Cr Bank Fraud Case
2 years, 9 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 …

ED raids multiple locations in Rs 22,842 crore ABG Shipyard bank loan fraud case
2 years, 11 months ago

ED raids multiple locations in Rs 22,842 crore ABG Shipyard bank loan fraud case

India TV News  

Highlights ED raided multiple premises in Mumbai, Pune and Surat Raids were conducted in connection with a money laundering probe against ABG Shipyard Ltd ED filed a money laundering case in February after studying a CBI FIR against the former promoters The Enforcement Directorate on Tuesday raided multiple premises in Mumbai, Pune and Surat in connection with a money laundering …

No PSB bank employees found involved in Rs 14,349-crore ABG Shipyard fraud case, says Nirmala Sitharaman
3 years ago

No PSB bank employees found involved in Rs 14,349-crore ABG Shipyard fraud case, says Nirmala Sitharaman

Firstpost  

ABG Shipyard was granted a loan under consortium arrangement led by ICICI Bank, and the account was declared as a non-performing asset by the lender banks in August 2013 New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said no public sector bank employees were found to be involved in the Rs 14,349 crore bank fraud by ABG Shipyard Ltd, and …

Bank Fraud Case: CBI Grills ABG Shipyard Ltd Chairperson Rishi Kamlesh Aggarwal
3 years, 1 month 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. …

ED Files Money Laundering Case In ABG Shipyard Bank Fraud
3 years, 1 month ago

ED Files Money Laundering Case In ABG Shipyard Bank Fraud

ABP News  

New Delhi: The ED has registered a criminal case of money laundering against ABG Shipyard Ltd, its former promoters along with others for allegedly cheating a consortium of 28 banks of over Rs 22,842 crore, official sources said on Wednesday. The CBI had booked ABG Shipyard Ltd and its then chairman and managing director Rishi Kamlesh Agarwal, along with others, …

ED files money laundering case against ABG Shipyard in bank loan fraud of nearly Rs 23,000 crore
3 years, 1 month ago

ED files money laundering case against ABG Shipyard in bank loan fraud of nearly Rs 23,000 crore

India TV News  

ED files money laundering case against ABG Shipyard in bank loan fraud of nearly Rs 23,000 crore ED initiated a money-laundering investigation on the basis of an FIR registered by The Central Bureau of Investigation. Highlights ED has filed a money laundering case against ABG shipyard. The Enforcement Directorate on Wednesday filed a money laundering case against ABG shipyard in …

Bank Fraud Case: CBI Issues Look Out Circulars Against ABG Shipyard's Former CMD, 8 Others
3 years, 1 month ago

Bank Fraud Case: CBI Issues Look Out Circulars Against ABG Shipyard's Former CMD, 8 Others

News 18  

The Central Bureau of Investigation has issued Look Out Circulars against the former chairman and managing director of ABG Shipyard named Rishi Kamlesh Agarwal and eight others to prevent them from leaving the country due to their alleged involvement in a bank fraud case of over Rs 22,842 crore. The central agency has booked ABG Shipyard Ltd, its ex-CMD Rishi …

ABG fraud detected relatively faster: FM
3 years, 1 month ago

ABG fraud detected relatively faster: FM

Deccan Chronicle  

Mumbai: Finance minister Nirmala Sitharaman on Monday said the ABG Shipyard account had turned into a non-performing asset in November 2013 during the erstwhile UPA regime and that the debt was restructured in March 2014 by all lenders but it could not be rescued. She defended the five years taken to file the first fraud complaint in the Rs 22,842 …

Lookout circulars issued against directors of ABG Shipyard in nearly Rs 23,000 crore fraud case
3 years, 1 month ago

Lookout circulars issued against directors of ABG Shipyard in nearly Rs 23,000 crore fraud case

India TV News  

Lookout circulars issued against directors of ABG Shipyard in nearly Rs 23,000 crore fraud case The Central Bureau of Investigation recently booked ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of two dozen lenders led by ICICI Bank. The CBI on Tuesday said it has issued look out notices …

FM defends time taken to file fraud complaint in ABG Shipyard
3 years, 1 month ago

FM defends time taken to file fraud complaint in ABG Shipyard

Deccan Chronicle  

New Delhi: Finance Minister Nirmala Sitharaman on Monday defended five years taken to file the first fraud complaint in the Rs 22,842 loan default by Gujarat-based ABG Shipyard, saying the time taken to detect the fraud was less than normal. Asserting that a bank follows a certain process to declare an account fraud, Sitharaman said banks almost take 52-54 months …

ABG Shipyard fraud detected faster than average time in such cases, says Nirmala Sitharaman
3 years, 1 month ago

ABG Shipyard fraud detected faster than average time in such cases, says Nirmala Sitharaman

Firstpost  

Asserting that a bank follows a certain process to declare an account fraud, Sitharaman said banks almost take 52-54 months to complete intensive work before a decision is taken New Delhi: Finance Minister Nirmala Sitharaman on Monday defended five years taken to file the first fraud complaint in the Rs 22,842 loan default by Gujarat-based ABG Shipyard, saying the time …

'Loans to ABG Shipyard turned NPAs prior to 2014': FM Sitharaman
3 years, 1 month ago

'Loans to ABG Shipyard turned NPAs prior to 2014': FM Sitharaman

India TV News  

Highlights FM Sitharaman said the ABG Shipyard account turned NPA during the erstwhile UPA regime. Finance Minister Nirmala Sitharaman on Monday said the ABG Shipyard account turned NPA during the erstwhile UPA regime and the banks took lesser than normal time to detect the fraud perpetrated by the shipping firm. ".in this particular case with that kind of a measurement, …

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM
3 years, 1 month 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 scam: Congress questions delay in registration of FIR by CBI
3 years, 1 month ago

ABG Shipyard scam: Congress questions delay in registration of FIR by CBI

Hindustan Times  

Accusing the Modi government of complicity and collusion, the Congress on Sunday questioned the delay in registration of a criminal case by the CBI against a private sector ship building company, ABG Shipyard, and its former chairman Rishi Agarwal for allegedly cheating a consortium of banks to the tune of ₹22,842 crore. “On February 15, 2018, the Congress had publicly …

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt
3 years, 1 month 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 …

Liquidation Under NCLT Driven Process: SBI On ABG Shipyard Bank Fraud Case
3 years, 1 month ago

Liquidation Under NCLT Driven Process: SBI On ABG Shipyard Bank Fraud Case

ABP News  

New Delhi: With the Central Bureau of Investigation registering an FIR against ABG Shipyard Ltd and its directors for allegedly defrauding a consortium of 28 banks to the tune of Rs 22,842 crore, the State Bank of India on Sunday said the “account is presently undergoing liquidation under a NCLT driven process”, adding “at no point in time, there was …

SBI denies any effort to delay action against ABG Shipyard promoters in Rs 22,842 cr bank fraud case
3 years, 1 month ago

SBI denies any effort to delay action against ABG Shipyard promoters in Rs 22,842 cr bank fraud case

The Hindu  

State Bank of India has clarified that at no point in time, there was any effort to delay the process to recover dues from the promoters of bankrupt ABG Shipyard Ltd. SBI was reacting to a PTI report on the Central Bureau of Investigation booking the former top executives including former chairman of ABG Shipyard Rishi Kamlesh Agarwal in a …

CBI books ABG Shipyard in biggest bank fraud case of over Rs 22,842 crore
3 years, 1 month ago

CBI books ABG Shipyard in biggest bank fraud case of over Rs 22,842 crore

Firstpost  

The Forensic Audit by Ernst and Young has shown that between 2012-17, the accused colluded together and committed illegal activities including diversion of funds, misappropriation and criminal breach of trust New Delhi: In its biggest bank fraud case, the CBI has booked ABG Shipyard Ltd and its former chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly …

ABG Shipyard: Know all about India's biggest bank fraud case
3 years, 1 month 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 …

CBI books ABG shipyard for biggest bank loan fraud
3 years, 1 month ago

CBI books ABG shipyard for biggest bank loan fraud

Deccan Chronicle  

New Delhi: In its biggest bank fraud case, the CBI has booked ABG Shipyard Ltd and its former chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks led by State Bank of India of over Rs 22,842 crore, officials said on Saturday. Besides Agarwal, the agency has also named the then executive …

CBI books ABG Shipyard, others for ‘causing ₹22,842-cr. loss’ to banks
3 years, 1 month ago

CBI books ABG Shipyard, others for ‘causing ₹22,842-cr. loss’ to banks

The Hindu  

The CBI has booked Gujarat-based ABG Shipyard Limited, its directors and others for allegedly causing a loss of ₹22,842 crore to a consortium of 28 banks. Among those named as accused in the First Information Report are Rishi Kamlesh Agarwal, Santhanam Muthaswamy, Ashwini Kumar, Sushil Kumar Agarwal, Ravi Vimal Nevetia and ABG International Private Limited. The company has the capacity …

ABG Shipyard cheated 28 banks of RS 22,842 crore: CBI
3 years, 1 month ago

ABG Shipyard cheated 28 banks of RS 22,842 crore: CBI

Op India  

In one of the biggest bank fraud case registered by the Central Bureau of Investigation, the agency has charged ABG Shipyard Ltd, its then Chairman and Managing Director Rishi Kamlesh Agarwal, and others with defrauding a consortium of banks led by ICICI bank of over Rs 22,842 crore. CBI also named the former Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, …

CBI books ABG Shipyard and others for allegedly causing ₹22,842-crore loss to banks
3 years, 1 month ago

CBI books ABG Shipyard and others for allegedly causing ₹22,842-crore loss to banks

The Hindu  

The Central Bureau of Investigation has booked Gujarat-based ABG Shipyard Limited, its directors and others for allegedly causing a loss of ₹22,842 crore to a consortium of 28 banks. Among those named as accused in the First Information Report are Rishi Kamlesh Agarwal, Santhanam Muthaswamy, Ashwini Kumar, Sushil Kumar Agarwal, Ravi Vimal Nevetia and ABG International Private Limited. The company …

ABG Shipyard duped SBI and 27 other banks of Rs 22,842 crore: Know all about India's biggest bank fraud
3 years, 1 month 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 Amrapali Biotech, directors in alleged ₹48 crore bank fraud
3 years, 8 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 files two cases for alleged bank fraud of over Rs 200 crore
4 years, 1 month 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 scam case: ED attaches assets worth Rs 14.45 crore of Mehul Choksi, Gitanjali Group
4 years, 1 month ago

PNB scam case: ED attaches assets worth Rs 14.45 crore of Mehul Choksi, Gitanjali Group

Firstpost  

New Delhi: 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. A provisional order for attachment has been issued under the Prevention of Money Laundering Act for the assets worth …

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi
4 years, 1 month 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, 2 months 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 …

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases
4 years, 3 months 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, 3 months 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 …

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt
4 years, 7 months ago

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt

News 18  

The Ministry of Corporate Affairs on Tuesday said Punjab National Bank has received over Rs 24 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US. In 2018, the lender had informed the ministry that three companies promoted by Nirav Modi — Firestar Diamond, Inc, A Jaffee, Inc and Fantasy, Inc had …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 9 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

PNB fraud: CBI set to file fresh charges in $2-bn loan forgery case; Nirav Modi's kin, 3 employees likely to be booked
5 years, 4 months ago

PNB fraud: CBI set to file fresh charges in $2-bn loan forgery case; Nirav Modi's kin, 3 employees likely to be booked

Firstpost  

PNB in 2018 alleged that a few rogue employees had issued fake bank guarantees over several years to help jewellery groups—controlled by Modi and his uncle Mehul Choksi—raise funds in foreign credit. Mumbai: The Central Bureau of Investigation will soon file fresh charges in the $2 billion Punjab National Bank fraud case and detail how the alleged wrongdoing was carried …

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