5 years, 1 month ago

PSU banks back in UK court over Mallya’s non-payment of debt

A consortium of public sector banks led by State Bank of India are back in the UK high court to seek a bankruptcy order against liquor tycoon Vijay Mallya over the alleged unpaid debt of around £1.145 billion. Judge Michael Briggs is presiding over a hearing in the insolvency division of the court in London this week in relation to a bankruptcy petition filed by the banks back in 2018 in their attempt to recoup unpaid debt accrued by the now-defunct Kingfisher Airlines. A previous UK High Court ruling had refused to overturn a worldwide order freezing Mr. Mallya’s assets and upheld an Indian court’s ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly £1.145 billion. Besides SBI, the 13 Indian banks include Bank of Baroda, Corporation bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt Ltd.

High Court Court Indian Bank Banks Mallya uk banks bank recover nonpayment order extradition mallyas courts high indian psu court debt

History of this topic

3 weeks, 6 days ago

Vijay Mallya says 'entitled to relief' after FM tells parl Rs 14,000 cr recovered

Firstpost

Vijay Mallya claimed that the Indian banks have recovered more than double the amount owed in the Kingfisher Airlines case and said despite that he is labelled as ’economic offender’. The fugitive businessman also said that he is ’entitled to relief’ after Finance Minister Nirmala Sitharaman told the Parliament that PSUs have recovered Rs 14,131.60 crore from sale of assets …

3 weeks, 6 days ago

Will pursue relief for ED, banks taking twice debt owed: Vijay Mallya

Live Mint

New Delhi, Dec 19 Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. In a series of posts on social media platform X, Mallya said, "The Debt Recovery Tribunal adjudged the KFA debt at ₹6203 crore including ₹1200 crore of interest." On Tuesday, …

4 weeks ago

Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if...?

Live Mint

Hitting back at FM Nirmala Sitharaman's claim of recovering properties worth ₹14,131.6 crore, fugitive liquor baron Vijay Mallya on Wednesday said that he is entitled for relief and the agencies should legally justify how they have taken more than two times the debt. Responding to FM Sitharaman's claim Mallya said that debt recovery tribunal has adjusted his debt at ₹6203 …

5 months ago

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why

Live Mint

Karnataka Government has instructed all its departments, public sector units, universities, and subordinate organizations to cease all transactions with the State Bank of India and Punjab National Bank, as quoted by The Economic Times. The Finance department issued a circular to all department heads, highlighting that the Karnataka Industrial Areas Development Board was unable to recover a deposit from Punjab …

5 months, 2 weeks ago

Fresh blow to Vijay Mallya: SEBI bars fugitive liquor baron from securities trading for 3 years

India TV News

The Securities Exchange Board of India on Friday barred Vijay Mallya from trading in India's securities market for three years. Mallya, who owns an 8.1% stake in United Breweries and a 0.01% stake in United Spirits, faces a Rs 9,000 crore bank loan default case involving Kingfisher Airlines. Non-bailable warrant issued On July 1, a special CBI court in Mumbai …

6 months, 1 week 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 …

6 months, 1 week ago

CBI court issues non-bailable warrant against Vijay Mallya in Rs 180-crore loan default case

India TV News

A special court in Mumbai has issued a non-bailable warrant against fugitive businessman Vijay Mallya in connection with a Rs 180-crore loan default case linked to Indian Overseas Bank. The court emphasised Mallya's status as a "fugitive" and cited previous non-bailable warrants issued against him based on CBI submissions, stating, "this is a fit case to issue an open-ended NBW …

1 year, 9 months ago

Vijay Mallya Had Funds to Repay Banks Before Fleeing, Chose to Buy 'Assets Worth Rs 330 Cr Abroad'

News 18

The Central Bureau of Investigation in its supplementary chargesheet filed in a Mumbai court has said that beleaguered businessman Vijay Mallya had enough funds with him to repay banks before he fled, but used that money to buy properties abroad instead. The CBI in its supplementary chargesheet said Vijay Mallya bought properties worth Rs 330 crore in England and France …

1 year, 9 months ago

Vijay Mallya bought properties worth ₹330 crore in England, France: CBI

Live Mint

Vijay Mallya bought properties worth ₹330 crore in England and France during 2015-16 even as his Kingfisher Airlines was facing a cash crunch at that time and banks had not recovered the loans defaulted by the liquor baron, the CBI has claimed in its supplementary chargesheet filed in a court here. Mallya is an accused in the alleged over ₹900 …

2 years, 6 months ago

₹2000 fine, 4-month jail to Vijay Mallya; ‘didn’t show remorse,’ says SC

Live Mint

The Supreme Court on Monday awarded four-month sentence to fugitive businessman Vijay Mallya, accused in bank loan default case of over ₹9,000 crore involving his defunct Kingfisher Airlines, in a contempt case. Earlier, the apex court, during the hearing, had noted that Mallya behaves like "a free person" in the United Kingdom and no information was forthcoming about the proceedings …

2 years, 6 months ago

Setback for Vijay Mallya as Supreme Court to declare punishment on Monday

Hindustan Times

The Supreme Court on Monday will declare the punishment for fugitive liquor baron Vijay Mallya in a 2017 contempt case. Fugitive liquor baron Vijay Mallya In February, Solicitor General Tushar Mehta had told the Supreme Court that the banks had recovered a total of ₹18,000 crores from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi. Mallya is currently pursuing appeals …

2 years, 10 months ago

Supreme Court Reserves Orders On Sentence Of Vijay Mallya In Contempt Case

Live Law

The Supreme Court on Thursday reserved orders on the sentence of fugitive liquor baron Vijay Mallya in the contempt of court case against him over violation of orders in a case relating to loan default of over Rs 9000 crores of the defunct Kingfisher airlines.A bench comprising Justice UU Lalit, Justice S Ravindra Bhat and Justice Bela M Trivedi heard …

$Supreme Court adjourns Vijay Mallya\'s contempt case hearing for next week$

2 years, 10 months ago

Supreme Court adjourns Vijay Mallya\'s contempt case hearing for next week

Deccan Chronicle

New Delhi: The Supreme Court on Thursday adjourned the hearing for next week of the contempt case against fugitive businessman Vijay Mallya who was found guilty in a contempt case for withholding information from the court. The top court had held Mallya guilty of contempt of court for transferring USD 40 million to his children in violation of the court's …

2 years, 10 months ago

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi

Op India

The Central Government has told to the Supreme Court that Rs 18000 crore have been returned to the banks which were stifled by fugitives Vijay Mallya, Nirav Modi, and Mehul Choksi until now. While comparing the numbers with the global data, Tushar Mehta added, “very small number of cases are being taken up for investigation under the PMLA as compared …

2 years, 10 months ago

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government

Hindustan Times

Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehta told the top court bench, led by Justice AM Khanwilkar, that the value of cases registered under the Prevention of Money Laundering Act against Mallya, Modi, and Choksi is now ₹67,000 crore. Vijay Mallya is …

2 years, 11 months ago

Vijay Mallya gets last chance to defend himself, asked to appear in SC on Feb 24

Hindustan Times

The Supreme Court on Thursday gave one last opportunity to fugitive liquor baron Vijay Mallya to defend himself either personally or through a lawyer within two weeks, news agency ANI reported. Vijay Mallya is wanted in India over fraud and money laundering charges in relation to loans taken out by his now-defunct Kingfisher Airlines from state-owned Indian banks A top …

2 years, 11 months ago

Fugitive businessman Vijay Mallya faces eviction from his luxurious London home over unpaid loans

Op India

A UK court on Tuesday ruled against the fugitive businessman Vijay Mallya in a dispute with Swiss Bank UBS following which he now faces enforced eviction from his multi-million pound luxury home in London. On Tuesday, a sitting judge of Chancery Division of High Court turned down request by the lawyers of Mallya on stay on repayment of UBS loan. …

3 years, 1 month ago

Vijay Mallya contempt case to be dealt with finally on Jan 18: Supreme Court

Hindustan Times

The Supreme Court on Tuesday said that the case involving fugitive businessman Vijay Mallya will be dealt with finally on January 18 next year. Mallya’s review petition was dismissed by the Supreme Court in August last year. The Supreme Court bench, also comprising justices S R Bhat and Bela M Trivedi, said it will list the matter in January for …

3 years, 1 month ago

Supreme Court says contempt matter involving Vijay Mallya to be dealt with on 18 January

Firstpost

Mallya, an accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, has been in the UK since March 2016 New Delhi: The Supreme Court Tuesday said the contempt matter involving fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, will be dealt …

3 years, 5 months ago

Kingfisher Airlines Case: Vijay Mallya Mocks Banks for Saying He Still Owes Them Money

News 18

With reports of IDBI Bank fully recovering its dues from now-defunct Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money. His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the State Bank of India to …

3 years, 5 months ago

Fugitive economic offender Vijay Mallya declared bankrupt by London court

Op India

On July 26, the Insolvency and Companies Court of the London high court declared Indian fugitive and businessman Vijay Mallya bankrupt. In a tweet Mallya said, “ED attach my assets worth 14K crores at behest of Govt Banks against debt of 6.2K crores. They restore assets to Banks who recover 9K crores in cash and retain security over 5K crores …

3 years, 5 months ago

UK court declares Vijay Mallya bankrupt for Indian banks to realise debt

The Hindu

A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the SBI to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. “As at 15.42, I adjudicate Dr. Mallya bankrupt,” Chief Insolvencies and Companies Court Judge Michael Briggs said in …

3 years, 5 months ago

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case

India TV News

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said. Apart from the Mallya case, the other case pertains to over Rs 13,500 crore alleged bank loan cheating in the Brady …

3 years, 6 months ago

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?

The Hindu

The story so far: The Enforcement Directorate on June 23 came out with a statement saying that it has seized assets worth ₹18,170.02 crore belonging to three fugitive businessmen. The seized assets belong to liquor baron Vijay Mallya and diamond traders Nirav Modi and Mehul Choksi — all three left India before law enforcement agencies could nab them for fraud. …

3 years, 7 months ago

Court allows banks to sell Vijay Mallya's real estate assets and securities

Hindustan Times

A Prevention of Money Laundering Act court has allowed banks to sell certain real estate assets and securities and of fugitive business tycoon Vijay Mallya to recover their debts. Vijay Mallya was declared as a fugitive economic offender in January 2019 by a special court in Mumbai. "The PMLA court has given permission to banks to sell gcertain real estate …

3 years, 7 months ago

Where Was Fraud, Asks Vijay Mallya over PMLA Court's Nod to Sell His Properties to Recover Loans

News 18

After a special Prevention of Money Laundering Act court passed an order permitting the sale of certain real estate properties and securities of Vijay Mallya to recover his unpaid loans, the Fugitive businessman on Friday questioned “where was the fraud” committed by him. Where is the cheating or fraud?” The PMLA court ordered that some of his real estate properties …

3 years, 7 months ago

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues

India TV News

Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India, had approached a special Prevention of Money Laundering Act court …

3 years, 7 months ago

Vijay Mallya loses UK appeal for more funds to cover Indian legal fees

India TV News

Vijay Mallya on Wednesday lost an appeal to gain further access to court-held funds to cover his costs for legal proceedings in India, as a High Court judge in London concluded that the 65-year-old businessman had failed to provide sufficient evidence in support of the over 750,000 pounds being sought. The latest appeal follows Deputy Insolvency and Companies Court Judge …

3 years, 7 months ago

Vijay Mallya loses bankruptcy petition amendment High Court battle in UK

India TV News

A consortium of Indian banks led by the State Bank of India on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya’s now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman’s assets in …

3 years, 11 months ago

Taking All Efforts to Extradite Fugitive Businessman Vijay Mallya: Centre to SC

News 18

The Centre on Monday told the Supreme Court that it is taking all efforts to extradite fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines from United Kingdom, but the process is being delayed to some legal issues involved in the matter. In November 2020, Foreign secretary Harshvardhan Shringla …

4 years ago

Liquor Tycoon Vijay Mallya Denied Permission to Appeal in UK Bankruptcy Case

News 18

Liquor tycoon Vijay Mallya was on Wednesday denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India, in their pursuit of debt related to his now-defunct Kingfisher Airlines. The 65-year-old businessman, who remains on bail in the UK, had filed a …

4 years, 1 month ago

Fugitive Liquor Baron Mallya Applies for Funds Held by UK Court from Sale of French Property

News 18

Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies …

4 years, 7 months ago

Indian government tells the UK not to offer asylum to Vijay Mallya

Op India

The Indian government has requested the government of the United Kingdom to refrain from giving asylum to fugitive liquor Barron Vijay Mallya. The spokesperson of Ministry of External Affairs, Anurag Srivastava while briefing the media through video conference has informed that Indian authorities have been in touch with UK authorities for the earliest extradition of Vijay Mallya. We have also …

4 years, 8 months ago

India moves closer in getting Vijay Mallya extradited

Live Mint

Business tycoon Vijay Mallya is one step closer to being forced to return to India to face fraud charges after a London court made further UK challenges to his extradition nearly impossible. The High Court of Justice, London, UK on Thursday rejected Mallya's plea to file an appeal with the UK Supreme Court against his extradition. This comes after a …

4 years, 8 months ago

U.K. High Court rejects Vijay Mallya’s plea for permission to move Supreme Court

The Hindu

The UK High Court on Thursday rejected a plea of businessman Vijay Mallya for permission to move the Supreme Court against the dismissal of his appeal challenging the lower court’s approval of his extradition to India in the IDBI Bank fraud case. “The High Court has dismissed Mr. Mallya's request to appeal in the Supreme Court. Following a hearing in …

4 years, 8 months ago

Mallya asks the Indian government to take the loan money and close the cases against him

Op India

Fugitive Economic Offender and businessman Vijay Mallya has requested the Central government to close the court cases against him, saying that he is ready to pay back all the money he owes to Indian banks. And mentioned that the government can print as much currency as they want but they should also consider a ‘small contributor’ like him who is …

4 years, 8 months ago

[Breaking] Set Back To Vijay Mallya As UK High Court Rejects His Application To Appeal To UK SC Against Extradition To India

Live Law

In a set back to fugitive liquor baron Vijay Mallya, the United Kingdom High Court rejected his application to appeal to the UK Supreme Court against the extradition to India.Fugitive liquor baron Vijay Mallya loses application in UK High Court to appeal in UK Supreme Court in extradition case. In a set back to fugitive liquor baron Vijay Mallya, the …

4 years, 8 months ago

Former liquor baron Vijay Mallya asks govt to accept loan repayment offer, close case against him

Firstpost

Embattled liquor baron Vijay Mallya, who is fighting against his extradition to India, on Thursday asked the government to accept his offer to repay 100 percent of his loan dues and close case against him New Delhi: Embattled liquor baron Vijay Mallya, who is fighting against his extradition to India, on Thursday asked the government to accept his offer to …

4 years, 8 months ago

Vijay Mallya asks govt to consider his loan repayment offer, close case against him

India TV News

Embattled liquor baron Vijay Mallya, who is fighting against his extradition to India, on Thursday asked the government to accept his offer to repay 100 per cent of his loan dues and the close case against him. Mallya, promoter of the defunct Kingfisher Airlines, who is wanted in India over alleged fraud and money laundering charges amounting to estimated Rs …

4 years, 8 months ago

Vijay Mallya seeks nod to move U.K. Supreme Court

The Hindu

Businessman Vijay Mallya has sought permission from the U.K. High Court to move the Supreme Court against the last month order dismissing his appeal challenging the lower court’s clearance to his extradition to India in the IDBI Bank fraud case. “After the appeal was rejected, Mr. Mallya had 14 days to file an application in the High Court for an …

4 years, 8 months ago

Disappointed, but will continue legal fight against extradition: Vijay Mallya

The Hindu

Embattled liquor baron Vijay Mallya, who lost his U.K. High Court appeal against an extradition order to India, has said that he is “disappointed” with the ruling but will continue to seek legal remedies as advised by his legal team. The businessman, who has been based in the U.K. since March 2016 and remains on bail after his arrest on …

4 years, 8 months ago

Disappointed, Will Pursue Legal Fight: Mallya on Extradition Order

The Quint

"I am saying, please banks take your money. "It is a significant achievement in continuing war against economic fugitives who have been managing to stay away from the judicial process in the country," CBI spokesperson RK Gaur said. Mallya has been based in the UK since March 2016 and remains on bail on an extradition warrant executed by Scotland Yard …

4 years, 8 months ago

Vijay Mallya loses UK High Court appeal in extradition case

The Hindu

The High Court of Justice in the U.K. on Monday dismissed the appeal of businessman Vijay Mallya against a lower court’s order for his extradition to India in connection with the IDBI Bank fraud case. The High Court did not find any merit in the objections raised by Mr. Mallya to the senior district judge’s findings on December 10, 2018, …

4 years, 9 months ago

Vijay Mallya gets bankruptcy reprieve from UK High Court

The Hindu

In a relief to liquor baron Vijay Mallya, the High Court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around GBP 1.145 billion from him. Justice Michael Briggs of the insolvency division of the High Court granted relief …

4 years, 11 months ago

Vijay Mallya says ED, CBI been ‘totally unreasonable’

The Hindu

Embattled liquor tycoon Vijay Mallya has claimed that the Enforcement Directorate and Central Bureau of Investigation have treated him “unreasonably” over the past four years. Mr. Mallya also reiterated his message for the Indian banks to take back 100% of the principal amount owed to them, which he stressed had not been borrowed by him but by Kingfisher Airlines. I …

4 years, 11 months ago

'Please banks, take your money': Vijay Mallya offers to repay

India TV News

Liquor tycoon Vijay Mallya, who is accused of owing over Rs 9,000 crore to Indian banks and challenged his extradition in a London Court, has once again asked the Indian banks to take back 100 per cent of the principal amount owed to them. Request banks to take back money: Mallya “I request the banks with folded hands, take 100 …

4 years, 11 months ago

‘Overwhelming evidence’ against Vijay Mallya, Crown Prosecution Service tells UK court on second day of extradition trial; verdict to be announced today

Firstpost

Liquor tycoon Vijay Mallya appeared before the Royal Courts of Justice in London for his appeal against being extradited to India, during which the prosecution highlighted overwhelming evidence of dishonesty on his part London: Liquor tycoon Vijay Mallya appeared before the Royal Courts of Justice in London on Wednesday for day two of his High Court appeal against being extradited …

4 years, 11 months ago

Vijay Mallya arrives in London Court for appeal against extradition to India

The Hindu

Liquor baron Vijay Mallya arrived at the Royal Courts of Justice in London on Tuesday for his appeal against being extradited to India to face fraud and money laundering charges amounting to ₹9,000 crores. The 64-year-old former Kingfisher Airlines boss, who remains on bail since his arrest on an extradition warrant in April 2017, avoided the usual scrum of reporters …

4 years, 11 months ago

PMC Bank scam: SC stays Bombay HC order directing sale of HDIL assets to repay dues

India TV News

The Supreme Court on Friday stayed the Bombay High Court order directing sale of bankrupt Housing Development and Infrastructure Ltd to ensure repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against …

5 years ago

Banks allowed to utilise Mallya’s movable assets to clear debt

The Hindu

A special court here has permitted a consortium of 15 banks led by the State Bank of India to utilise movable assets of former liquor baron Vijay Mallya towards repayment of his debt. The assets, comprising financial securities like shares of the United Breweries Holdings Ltd, were attached by the special Prevention of Money Laundering Act court in 2016 when …

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5 hours, 44 minutes ago

Supreme Court relief to Naidu, dismisses plea to cancel his bail

The Hindu

The Supreme Court on Wednesday provided a major relief to Andhra Pradesh Chief Minister N. Chandrababu Naidu by dismissing a petition filed in 2023 by the previous Yuvajana Sramika Rythu Congress Party government to cancel his bail in the skill development ‘scam’ case. The petition had alleged that the alleged crime relates to a project involving the Andhra Pradesh State …

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Centre grants sanction to ED to prosecute Kejriwal, Sisodia in money laundering case

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17 hours, 23 minutes ago

Centre grants sanction to ED to prosecute Kejriwal, Sisodia in money laundering case

Firstpost

After Centre’s approval, the ED can now frame charges against AAP leaders Arvind Kejriwal and Manish Sisodia. This clears the path for their prosecution in a money laundering case linked to Delhi’s scrapped excise policy. The Union home ministry has granted permission to the Enforcement Directorate to prosecute former Delhi Chief Minister and AAP national convenor Arvind Kejriwal, along with …

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1 day, 23 hours ago

CBI secures permission to prosecute AAP's Satyendar Jain

New Indian Express

NEW DELHI: The CBI informed a Delhi court on Monday that it had obtained the necessary sanctions to prosecute Aam Aadmi Party leader and former Delhi minister Satyendar Jain in a case involving disproportionate assets. The CBI has accused Jain of amassing assets worth approximately Rs 1.62 crore, which were disproportionate to his known sources of income, during his tenure …

Delhi Cbi Jain Case Involving Secures Permission

2 days, 7 hours ago

Allahabad High Court Weekly Round-Up: January 06 To January 12, 2025

Live Law

NOMINAL INDEX Salman vs. State of U.P 2025 LiveLaw 2 Ashok Pandey vs. Chairman Of Rajya Sabha Thru. and Another 2025 LiveLaw 7 M/S Akriti Food Industry Llp v. State Of UP And 3 Others 2025 LiveLaw 8 ORDERS/JUDGMENTS OF THE WEEK Allegations Offend Victim's Dignity: Allahabad High Court Denies Bail To Man Accused Of Forcing Wife Into Prostitution Case …

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2 days, 7 hours ago

Namakkal DCDRC directs IOB to pay ₹5 lakh compensation

The Hindu

The Namakkal District Consumer Disputes Redressal Commission directed Indian Overseas Bank to pay ₹5 lakh in compensation for transferring the loan for recovery to a private company even after the loan was repaid by its customer on Tuesday. In 2017, the IOB filed a case at the Civil Court to recover the loan, following which Anu Prasad and Manoharan approached …

Bank Pay Loan Lakh Arc Iob Manoharan

2 days, 10 hours ago

11 arrested with weapons in two separate cases in Jharkhand’s Palamu

The Hindu

Eleven persons were arrested in two separate cases in Jharkhand’s Palamu district, police said on Monday. Talking to reporters, Palamu SP Reeshma Ramesan said an FIR was filed at Hussainabad police station on January 9 regarding a theft at a liquor store. Ms. Ramesan said the employees had filed a false theft case fearing detection by the excise department’s inspection …

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3 days, 17 hours ago

NCLAT dismisses appeal to stay insolvency proceedings against Indrajit Power

Live Mint

New Delhi, Jan 12 The National Company Law Appellate Tribunal has dismissed a plea to stay the insolvency proceedings against debt-ridden thermal power producer Indrajit Power. The appellate tribunal said "no error has been committed" by the National Company Law Tribunal, while admitting the plea to initiate insolvency proceedings against the Maharashtra-based company on February 1, 2024, filed by Yes …

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5 days, 12 hours ago

Mylapore Hindu Fund scam: T.N. police assure expeditious relief to depositors

The Hindu

The Economic Offences Wing of the Tamil Nadu police have assured the depositors in the scam involving the Mylapore Hindu Permanent Fund Nidhi Limited of expeditious relief. In a press release, the police said a preliminary charge sheet was filed before a special court on November 11, 2024, against the company and its directors. “As per the commitment of EOW, …

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5 days, 15 hours ago

Supreme Court Dismisses PIL Alleging Exchange Of Currency Defaced By Kashmiri Separatists At RBI Branch; Notes Petitioner Suppressed Facts

Live Law

The Supreme Court today dismissed a public interest litigation seeking CBI enquiry into the Jammu Regional Branch of Reserve Bank of India where defaced Indian currencies worth Rs.30 crores were allegedly exchanged by a separatist group in 2013. During the hearing, Senior Advocate Jaideep Gupta submitted that the petitioner was a dismissed employee of the bank and there was no …

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5 days, 17 hours ago

Bihar cooperative bank fraud case: Enforcement Directorate raids RJD MLA Alok Kumar Mehta, others

The Hindu

“The Enforcement Directorate on Friday conducted searches in multiple States, including in Bihar on premises linked to a Rashtriya Janata Dal MLA, as part of a money-laundering investigation linked to an alleged funds embezzlement at a State cooperative bank,” official sources said. “These include premises linked to RJD MLA and former Bihar Minister Alok Kumar Mehta who is the promoter …

Bihar Bank Mehta Rjd Mla Cooperative Bank State Cooperative

5 days, 18 hours ago

Bombay High Court Reprimands Bank For Denying Employee's Request To Reverse Promotion To Care For Visually Impaired Child, Imposes ₹25K Cost

Live Law

The Bombay High Court recently chastised the Indian Overseas Bank for denying the request of one of its employees to reverse her promotion in Chennai and transfer her back to Mumbai, so that she could better care for her visually impaired child. It said, “As a mother she understand the difficulties posed by her 10 year old child, and is …

Mumbai Court Chennai Bank Child Promotion Request

5 days, 18 hours ago

Bombay High Court Reprimands Bank For Denying Employee's Request To Reverse Promotion To Care For Visually Impaired Child, Imposes ₹25K Cost

Live Law

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6 days, 4 hours ago

Bihar Police seize cash, NEET-PG admit cards and OMR sheets from medical college hostel in Patna

The Hindu

Bihar Police on Thursday found burnt cash of ₹2.75 lakh apart from National Eligibility-cum-Entrance Test-Post Graduate admit cards and fake OMR sheets from Chanakya Hostel of Patna Medical College and Hospital. A student’s room in Chanakya Hostel had caught fire late on Tuesday night and police on Thursday went to assess the situation where they found these in the room …

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6 days, 4 hours ago

ED attached properties worth ₹103.4 crore in ponzi scheme case

The Hindu

The Directorate of Enforcement, Hyderabad, provisionally attached 27 immovable properties having market value of ₹103.4 crore under the provisions of the Prevention of Money Laundering Act, 2002 in a ponzi scheme case related to Nowhera Shaik and Heera Group of Companies. The ED has been investigating money laundering case against Heera Group of Companies and their managing director Nowhera Shaik …

Companies Properties Worth Shaik Nowhera Nowhera Shaik Heera Group Of Companies

6 days, 13 hours ago

Unsuccessful Resolution Applicant Has No Locus To Challenge Approval Of Resolution Plan By CoC: NCLT Kolkata

Live Law

The NCLT Kolkata bench of Justice Bidisha Banerjee and D. Arvind has held that Unsuccessful Resolution Applicant has no locus standi to challenge the approval of Resolution Plan by the Committee of Creditors. The default stemmed from a Loan Agreement executed on July 26, 2019 between SREI Equipment and the corporate debtor under which a loan facility of Rs, 300 …

Corporate Resolution Applicant Resolution Professional Process Resolution Plan Plan

6 days, 16 hours ago

Existence Of "Proceeds Of Crime" Is Pre-Condition For Money-Laundering: J&K High Court Quashes PMLA Complaints In Alleged ₹250 Cr Scam

Live Law

Underscoring the necessity of the existence of "proceeds of crime" for constituting an offence under the Prevention of Money-Laundering Act, 2002 the Jammu and Kashmir and Ladakh High Court has reiterated that in the absence of such proceeds, no money-laundering offence could arise. The petitioners, who served as Chairman and Secretary, respectively, of the River Jehlum Co-operative House Building Society …

Crime Society Court Money Laundering Money Bank Loan

6 days, 17 hours ago

Periye case: Four CPI(M) leaders released from Kannur Central jail after High Court stay on sentence

The Hindu

Four Communist Party of India leaders, sentenced to five years imprisonment in connection with the murder of Periye Youth Congress activists Kripesh and Sarath Lal, were released from Kannur Central jail on Thursday morning after the Kerala High Court had suspended their sentence. Bhaskaran walked out of jail around 9 a.m. to a grand reception led by CPI leaders P. …

High Court Court High Cbi Cpi

1 week ago

RBI lifts curbs on Ashirvad Micro Finance, DMI Finance

The Hindu

The Reserve Bank of India has lifted supervisory restrictions on Ashirvad Micro Finance Ltd. and DMI Finance Private Ltd. after getting satisfied about the corrective action taken by both the regulated entities. Subsequently, the above-mentioned companies initiated remedial action and submitted their various compliances to the Reserve Bank, the regulator said in a circular. “Now, having satisfied itself based on …

Finance Rbi Dmi Finance

Periya Double Murder Case: Kerala High Court Suspends Sentence Of Four CPI(M) Activists

Trending News

1 week ago

Periya Double Murder Case: Kerala High Court Suspends Sentence Of Four CPI(M) Activists

Live Law

The Kerala High Court on Wednesday suspended the sentence of 4 convicts in the Periya double murder case, including the former CPI MLA K. V. Kunhiraman. The Special CBI Court had found the former MLA K. V. Kunhiraman, K. Manikandan, Raghavan Velutholi, K. V. Bhaskaran guilty of offence under Section 225 of IPC and had sentenced them to 5 years …

Court Sentence Periya Double Section 225

1 week ago

Following Justice CT Ravikumar's Retirement, Supreme Court Bench Hearing Pleas Seeking Review Of PMLA Verdict To Be Reconstituted

Live Law

Following the retirement of Justice CT Ravikumar of Supreme Court, the bench hearing review petitions filed against the Vijay Madanlal Choudhary judgement, which upheld various provisions of the Prevention of Money Laundering Act, is set to be reconstituted. It may be recalled that the matter was being considered by a bench of Justices Surya Kant, CT Ravikumar and Ujjal Bhuyan, …

Justice Supreme Court Court Hearing Fir Bench Cji

1 week, 1 day ago

Former Minister KT Rama Rao Was Prima Facie 'Entrusted' With Formula E Race Funds Which Were Allegedly Misused: Telangana High Court

Live Law

Dismissing BRS MLA KT Rama Rao's plea for quashing an FIR over the alleged Formula-E race "scam", the Telangana High Court on Tuesday said that Rao as then Urban Development Minister was controlling the Hyderabad Metropolitan Development Authority and thus the body's funds which were allegedly misused, were "prima facie" entrusted with him. Rejecting Rao's contention that ingredients of Section …

Hyderabad Supreme Court Property Court Money Criminal Allegations

1 week, 1 day ago

Framing of charges begins in Bengal recruitment scam case

The Hindu

The Enforcement Directorate on Monday started the process of framing charges under Section 4 of the Prevention of Money Laundering Act against Sujay Krishna Bhadra over a video call in the West Bengal primary school teachers’ recruitment scam case. One of the prime accused in the case, he was presented at Kolkata’s Bankshall court virtually at 2 p.m. in front …

Bhadra Recruitment Scam

1 week, 2 days ago

'Bank Should Remain Vigilant' : Supreme Court Holds SBI Liable To Refund Amount To Customer Who Reported Fraudulent Transaction

Live Law

The Supreme Court recently observed that banks cannot shy away from the responsibility to safeguard their customers from unauthorized transactions reported from their accounts. The Court upheld the State Bank of India's liability for the fraudulent and unauthorized transactions reported in the customer's bank account. The bench was hearing the SLP filed by the SBI against the Gauhati High Court's …

Supreme Court Court Bank Liability Reported Rbi Account

1 week, 2 days ago

Kerala High Court Weekly Round-Up: December 30, 2024 - January 05, 2025

Live Law

Nominal Index The Kerala State -Ex-Services League State Committee, Thiruvananthapuram v. Commissioner of Central Excise Customs and Service Tax, Trivandrum, 2024 LiveLaw 827 S. Safeer v. Cochin Port Trust, 2024 LiveLaw 828 Alan Benny v Bar Council of Kerala and Another, 2025 LiveLaw 1 Mrs. Suma Sunilkumar v. The State Medical Officer, 2025 LiveLaw 2 Judgments/ Orders This Week Charitable …

Justice Kerala Court Title Kerala High Court Service 2024

1 week, 3 days ago

HC issues notice to CBI in ex-Axis MF manager’s front-running fraud case

Hindustan Times

Mumbai: The Bombay High Court on Friday issued a notice to the Central Board of Investigation in a plea related to an alleged multi crore mutual fund scam case against Viresh Joshi, a former manager at Axis Mutual Fund, and others, in connection with the multi-crore ‘front-running’ fraud. A bench of justice Revati Mohite-Dere and justice Dr. Neela Gokhale was …

Joshi Cbi

1 week, 4 days ago

ED freezes ₹5.4 crore assets in ₹4,957 crore bank fraud probe

Hindustan Times

Mumbai/New Delhi: The Enforcement Directorate has frozen immovable assets worth ₹5.4 crore as part of its investigation into a ₹4,957 crore bank fraud allegedly involving the private firm M/s Pratibha Industries Ltd. ED freezes ₹ 5.4 crore assets in ₹ 4,957 crore bank fraud probe The frozen assets include bank balances and mutual funds, according to agency sources. The ED’s …

Bank Crore

1 week, 4 days ago

Kerala High Court Monthly Digest: December 2024 [Citations: 766 - 828]

Live Law

Nominal Index: C. Alavi v The State of Kerala and Another, 2024 LiveLaw 766 T. N. Mukundan v State of Kerala and Others, 2024 LiveLaw 767 Motorsigns India v State of Kerala & Connected Matters, 2024 LiveLaw 768 Nizar v State of Kerala, 2024 LiveLaw 769 Aravindakshan P. R. v Assistant Director, ED and Another, 2024 LiveLaw 770 M/S Inkel …

India Society Justice Kerala Disciplinary Proceedings Supreme Court High Court

1 week, 4 days ago

Kerala High Court Monthly Digest: December 2024 [Citations: 766 - 828]

Live Law

India Society Justice Kerala Disciplinary Proceedings Supreme Court High Court

1 week, 5 days ago

Telangana HC Slams AP, Telangana for Delay in Margadarsi Case

Deccan Chronicle

HYDERABAD: The Telangana High Court on Friday expressed anger at the Telangana and Andhra Pradesh governments for the delay in submitting their contentions on the criminal proceedings against Margadarsi Financiers and its chairman, the late Ch. After re-commencing hearing in June 2024, following the directions of the Supreme Court, the Telangana High Court directed the Telangana and AP governments to …

Court Criminal Proceedings Telangana High Rbi Ramoji Rao Margadarsi

1 week, 5 days ago

BAANKNET, a revamped e-auction portal for properties with public sector banks launched by DFS secretary M Nagaraju

Live Mint

The government on Friday launched a revamped e-auction portal ‘Baanknet’ that consolidates information on all properties that put up for e-auction by public sector banks. The portal was launched by M. Nagaraju, secretary, department of financial services, ministry of finance, in the presence of chairpersons of the debt recovery appellate tribunals, presiding officers of debt recovery tribunals, managing directors and …

Public Sector Portal Nagaraju

1 week, 5 days ago

PSU bank stocks extend dominance over private lenders in 2024, record 4 consecutive years of gains

Live Mint

Shares of public sector banks delivered a strong performance in 2024, extending their winning streak to the fourth consecutive year, while private sector banks remained muted during this period, ending the year with mild losses and halting a three-year winning run. Beyond stock returns, public sector banks also outperformed private sector banks in the September quarter earnings. In addition, non-banking …

Growth Credit Indian Bank Public Sector Banks Sector Rbi

1 week, 5 days ago

ED attaches assets worth over Rs 8 crore in black money-linked case in Maharashtra

India Today

The Enforcement Directorate on Thursday attached assets worth more than Rs 8 crore as part of an alleged black money-linked money laundering case in Maharashtra. A provisional attachment order has been issued under the Prevention of Money Laundering Act against two persons identified as Siddharth Abhay Chokshi and Abhay Sajanlal Chokshi, the agency said in its statement. Siddharth Abhay Chokshi …

Money Abhay Chokshi Ed Black Rs 8 Siddharth Abhay Chokshi

1 week, 6 days ago

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra

Live Mint

The capital market regulator on Thursday clubbed proceedings against Zee Entertainment Enterprises Ltd, its chief executive Punit Goenka and former chairman Subhash Chandra over allegations of fund diversion and violation of disclosure requirements. In response, Zee and Goenka filed settlement applications with Sebi, which the regulator rejected in April 2023 and referred the case for further investigation. In August 2023, …

Sebi Zee Chandra Goenka Zeel Subhash Chandra Punit Goenka

2 weeks ago

Annual Digest Of IBC Cases: 2024

Live Law

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association vs. M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

India Justice Delhi Mumbai Supreme Court High Court Corporate

2 weeks, 1 day ago

Holding Multiple Inquiries On Same Allegations Amount To Violation Of Article 21: Punjab & Haryana High Court

Live Law

The Punjab & Haryana High Court granted anticipatory bail in fraud and Prevention of Corruption Act case to a Junior Engineer posted in Municipal Council Khanna, accused for committing embezzlement of Rs. Justice Sandeep Moudgil said, "multiple inquires on same set of allegations would amount to violation of Article 21 of the Constitution of India added with the fact that …

Court Petitioner Punjab Haryana

2 weeks, 1 day ago

Consumer Cases Weekly Round Up:[ 23rd December – 29th December 2024]

Live Law

National Consumer Disputes Redressal Commission NCDRC Holds Bajaj Insurance Liable For Deficiency In Service Over Wrongful Repudiation Of Insurance Claim Case Title: Vasantiben Vs. Bajaj Allianz Life Insurance Company Ltd Case Number: R.P. Delhi State Commission Holds National Insurance Company Liable For Rejecting Claim Due To Bariatric Surgery Case Title: National Insurance Co. Ltd. Shanta Devi & Ors Case No: …

Insurance Consumer Delhi Title Disputes State Sbi

2 weeks, 1 day ago

Insolvency & Bankruptcy Code : Important Judgments By Supreme Court In 2024

Live Law

As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Insolvency and Bankruptcy Code, 2016. Supreme Court Refers To Larger Bench, Doubts Precedent Case: DBS Bank Ltd Singapore v. Ruchi Soya Industries Ltd and another In this case, a bench comprising Justice Sanjiv Khanna …

Supreme Court Corporate Court Insolvency Corporate Debtor Debt Resolution Plan

2 weeks, 1 day ago

Insolvency & Bankruptcy Code : Important Judgments By Supreme Court In 2024

Live Law

Supreme Court Corporate Court Insolvency Corporate Debtor Debt Resolution Plan

2 weeks, 2 days ago

Bombay High Court Weekly Round-Up: December 23 - December 29, 2024

Live Law

Citations: 2024 LiveLaw 650 to 2024 LiveLaw 654 Nominal Index: Zahid Khamisa vs. State of Maharashtra & Anr, 2024 LiveLaw 650 Imperial Consultants and Securities vs. Deputy CIT, 2024 LiveLaw 651 Shri Saibaba Sansthan Trust vs. Union of India, 2024 LiveLaw 652 Nav Chetna Charitable Trust vs, CIT, 2024 LiveLaw 653 Chandrabhan Atulkar v. MOIL Ltd., 2024 LiveLaw 654 Judgments/Final …

Trust Justice Court Bombay High Court Assessment 2024 High

Axis Bank manager, 3 others arrested for siphoning Rs 12 crore from Bengaluru firm

Trending News

2 weeks, 2 days ago

Axis Bank manager, 3 others arrested for siphoning Rs 12 crore from Bengaluru firm

India Today

Four people, including the manager of a private bank, were arrested for allegedly siphoning off Rs 12.51 crore by stealing sensitive data from a company, police said on Saturday. The matter came to light after the director of Dream Plug Pay Tech Solutions Private Limited approached the police in November, alleging the siphoning of Rs 12.51 crore from the company’s …

Bengaluru Bank Accounts

Four arrested for siphoning off ₹12.5 cr from CRED, Bengaluru police uncover major crime: Report

Trending News

2 weeks, 3 days ago

Four arrested for siphoning off ₹12.5 cr from CRED, Bengaluru police uncover major crime: Report

Hindustan Times

In a major cybercrime case, Bengaluru police have arrested four individuals from Gujarat who allegedly embezzled ₹12.5 crore from credit card payments platform CRED, reported Deccan Herald. According to the report, CRED’s corporate account is managed through Axis Bank’s Indiranagar branch in Bengaluru and authorities have managed to recover ₹1.83 crore of the stolen amount. The accused reportedly identified vulnerabilities …

Gujarat Bank Report Bengaluru Police Axis Cred Bengaluru Pitadiya

2 weeks, 4 days ago

"Large-Scale Scam": Gujarat HC Denies Anticipatory Bail To Businessman Booked In ₹6000 Crore Financial Fraud Case

Live Law

The Gujarat High Court has dismissed the anticipatory bail plea of businessman and head of BZ group Bhupendrasinh Zala in connection with an alleged financial fraud amounting to ₹6000 crores observing that it appeared to be a “large scale scam” wherein “large number of people appear to have been duped by him”. Numerous bank accounts were opened under these firm …

Fraud Financial Court Bail Applicant Investors Fir

2 weeks, 4 days ago

High Court denies relief to Mumbai-based firm in loan repayment case

India Today

The Bombay High Court dismissed a petition filed by Royal Traders, a partnership firm owned by Kamala Mills, which sought the court's direction to reduce its pre-deposit amount in the Debt Recovery Appellate Tribunal to 25 per cent. Dismissing the Royal Traders' petition, the court upheld DRAT's order requiring a 50 per cent pre-deposit. However, Royal Traders did not deposit …

Royal High Court Debt Cent Traders Kamala Mills Drat

2 weeks, 4 days ago

KT Rama Rao summoned by ED in Formula-E race case on January 7

India Today

The Enforcement Directorate has issued summons to BRS working president and former minister KT Rama Rao, senior IAS officer Arvind Kumar and former Hyderabad Metropolitan Development Authority chief engineer BLN Reddy, in connection with the alleged financial irregularities of Rs 55 crore in hosting the Formula-E race in February 2023. An Enforcement Case Information Report was registered under various sections …

Ktr Formula Rama Rao Kt Rama Rao Ed Case 55 Crore

2 weeks, 6 days ago

Bank fraud cases rise 27% YoY in 2024; scams worth ₹21,367 crore logged in H1FY25: RBI data

Live Mint

Banking fraud cases in India surged 27 per cent to 18,461 cases in the first half of the financial year 2024-25, compared to its previous level of 14,480 cases in the same period in the previous year, reported the news agency PTI, citing official Reserve Bank of India data. The data also showed that the total amount involved increased nearly …

India Fraud Financial Bank Rbi

2 weeks, 6 days ago

100 Important Supreme Court Judgments- Part 3 [51 to 75]

Live Law

Case Title – Sheikh Javed Iqbal @ Ashfaq Ansari @ Javed Ansari v. State of Uttar Pradesh., 2024 LiveLaw 486 In a significant judgment granting bail to an undertrial prisoner facing charges under the Unlawful Activities Act, 1967, the Supreme Court held that a constitutional court can grant bail despite statutory restrictions if it finds that the right to speedy …

India Delhi Supreme Court Court Bail States Title

2 weeks, 6 days 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 Report Rbi Banks Frauds

3 weeks ago

J&K Prevention Of Corruption Act | Mere Misuse Of Position By Public Servant Without Dishonest Intent Not 'Abuse' U/S 5(1)(d): High Court

Live Law

The High Court of Jammu & Kashmir and Ladakh has held that mere misuse of position by a public servant, without dishonest intent, does not constitute abuse under Section 5 of the J&K Prevention of Corruption Act. The use of words by "corrupt or illegal means" or by "otherwise abusing his position as public servant appearing in the Section suggests …

Court Allegations Public Servant Loan Public Fir Position

3 weeks ago

Jammu & Kashmir And Ladakh High Court Annual Digest [Part I]

Live Law

Judgments/Orders: Labour Commissioner Competent To Review Ex-Parte Awards Passed Under Workmen's Compensation Act: J&K High Court Case Title: Sahil Gupta Vs UT of J&K Citation: 2024 LiveLaw 1 The Jammu and Kashmir and Ladakh High Court held that a Labour Commissioner is competent to review his ex-parte orders, while hearing an application to set aside such ex-parte award. Clarifying the …

Disciplinary Proceedings High Court Public Order Constitution Court Legal Proceedings Public Interest

3 weeks, 1 day ago

Bank Can Exercise General Lien To Appropriate Term Deposits Of Customers Toward Default Payment Of Loan: Karnataka High Court

Live Law

The Karnataka High Court recently set aside an order of the single judge which had directed Union Bank of India to release the amount in Term Deposits which came to be appropriated towards the loan taken by a businessman, exercising its power of general lien over such deposits. Therefore, the appellants have made out grounds to interfere with the impugned …

General Court Bank Loan Term Kar Deposits