Hyderabad: CBI nets 2 SBI staff for Rs 5.36 crore fraud
5 years, 3 months ago

Hyderabad: CBI nets 2 SBI staff for Rs 5.36 crore fraud

Deccan Chronicle  

HYDERABAD: The Central Bureau of Investigation has booked two officials of the State Bank of India in the city for being the “key conspirators” in defrauding their organisation to the tune of Rs 5.36 crore. The CBI unearthed the case after it received a complaint from the Regional Manager of SBI’s Administrative Office in Himayatnagar, alleging that Abdul Rawoof Pasha, the then Regional Manager of Paris-hrama Bhavan branch, during his tenure between 2017- 18, conspired with another banker T. Laksh-minarayan and Kota-konda Krishna Prasad, promoter of NAR Traders and Enterprise, in defrauding the bank of Rs 5.36 crore. Abdul Rawoof Pasha, now under suspension, was holding the responsibility for marketing, processing, documentation, disbursement, supervision and recovery of SME advances. Without taking administrative clearance from appropriate authority of the bank, Abdul Rawoof, the then Regional Manager, in collusion with Lakshminarayan, intentionally allowed the withdrawal of the loan amount.

Lakshminarayan  staff  hyderabad  lakshminarayan  crore  regional  abdul  taking  rawoof  fraud  nets  sbi  traders  536  bank  rs  cbi  manager

History of this topic

Five, including corporation official’s PA, arrested for forgery, funds withdrawal
13 hours, 59 minutes ago

Five, including corporation official’s PA, arrested for forgery, funds withdrawal

The Hindu  

Kalaburagi Police have arrested Mohammad Nayeemuddin, personal assistant to the City Corporation Commissioner and four others for transacting ₹1,86,15,663 into their personal accountants by forging the Corporation Commissioner’s signature. Nayeemuddin’s four accomplices have been identified as accountant on contract in the corporation Naseer Ahmed, senior programmer on contract in the corporation Mohammad Abdul Rehman, Wajid Imran and Mirza Arif Baig. …

Hyderabad police refund Rs.5.25 lakh to businessman duped by cybercriminals
3 weeks, 4 days ago

Hyderabad police refund Rs.5.25 lakh to businessman duped by cybercriminals

Deccan Chronicle  

A victim who was duped of Rs 5, 25,000 to by the scammers in the name of investing in fake stock trading, got the amount refunded with the help of Cyber Crime Unit. A 37-year-old businessman, in his complaint to the police, stated that the fraudsters claiming as managing directors of a foreign blue chip company, defrauded him on the …

CBI arrests advocate of bank for demanding bribe of ₹1.70 lakh
1 month 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. …

CBI books six in home loan fraud in Chennai; says developer inflated valuation
1 month, 1 week 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, …

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

Former Banker Among Eight Held for ₹4.8 Crore Loan Fraud
2 months, 1 week ago

Former Banker Among Eight Held for ₹4.8 Crore Loan Fraud

Deccan Chronicle  

Hyderabad:The economic offences wing of Cyberabad police arrested eight persons, including a former bank branch manager, in connection with a loan fraud involving forgery, cheating, and document fabrication case. The accused, including former ranch manager Karthik Rai, exploited the bank's lending process through fraudulent loan approvals, forged documents and illegal fund diversions. Between June 2020 and June 2023, Karthik Rai …

IPS Officer Bhagyashree Navtake Arrested for Forgery and Conspiracy in ₹1,200 Crore Scam
2 months, 4 weeks 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 …

CBI busts ‘bribery nexus’ in RDSO; FIRs lodged
3 months, 2 weeks ago

CBI busts ‘bribery nexus’ in RDSO; FIRs lodged

Hindustan Times  

LUCKNOW The CBI’s Anti-Corruption Bureau busted a bribery nexus in RDSO’s finance & accounts division in Lucknow after receiving information that some officers and employees, in connivance with other senior officers of the department, were allegedly taking bribes for clearing pending bills of firms. The CBI registered three FIRs against officers/employees of RDSOs division and three firms of Lucknow and …

Two held for defrauding Noida authority of ₹3.9 cr in 2023 FD scam
4 months 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
4 months 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 cyber crime victims refunded ₹1.09 crore in Hyderabad
4 months 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 …

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

Ludhiana: 3 FCI officials among 4 in CBI net on graft charges
7 months, 3 weeks 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 …

On the run for 17 years, man wanted in fraud case held
8 months ago

On the run for 17 years, man wanted in fraud case held

Hindustan Times  

Officials of the Crime Investigation Department of the state arrested an accused who was on the run for the last 17 years involved and was allegedly involved in financial fraud worth ₹145.60 crore. Officials said, between 1997 and 2007 the accused was involved in financial misappropriation at Samata Co-operative Bank in Nagpur. Later the case was handed over to CID …

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

TS Ex-Engineer Held at Delhi Airport for Rs. 8 Cr Fraud
10 months ago

TS Ex-Engineer Held at Delhi Airport for Rs. 8 Cr Fraud

Deccan Chronicle  

Hyderabad: Gaddam Rahul, a former assistant engineer of Mission Bhagiratha, wanted for cheating people of Rs.8 crore, was arrested at Delhi airport while trying to flee the country. Police said that Rahul, posted in the Keesera division panchayat raj office in 2022, collected Rs.8 crore from contractors by promising work orders. Rahul forged and fabricated work orders of Rs.5 lakh …

2 Bank Officials in Odisha Held for Swindling Rs 3.7 Cr Mudra Funds
10 months ago

2 Bank Officials in Odisha Held for Swindling Rs 3.7 Cr Mudra Funds

Deccan Chronicle  

Bhubaneswar: The Economic Offences Wing, Bhubaneswar on Sunday arrested two persons, including a former IDBI branch manager in connection with a fraud amounting to Rs 3.70 crore. In his complaint, the senior official alleged that Sarojkanta Mohapatra, and Tanmay Kumar Maharana, ex-asset officer, IDBI Bank, Dandamukundapur Branch in Puri district, had illegally sanctioned/disbursed 35 fictitious loans amounting to Rs 3.70 …

Banks Ought To Investigate Fraudulent Transactions Per RBI Guidelines, Panchkula District Commission Holds SBI Liable
10 months, 4 weeks ago

Banks Ought To Investigate Fraudulent Transactions Per RBI Guidelines, Panchkula District Commission Holds SBI Liable

Live Law  

The District Consumer Disputes Redressal Commission, Panchkula bench comprising Satpal, Dr Sushma Garg and Dr Barhm Parkash Yadav held State Bank of India liable for deficiency in services for its failure to provide safety and security of electronic banking transactions which resulted in unauthorized transactions of Rs. Feeling aggrieved, the Complainant approached the District Consumer Disputes Redressal Commission, Panchkula, Haryana …

Enough material against Naresh Goyal to process money laundering case: Court
1 year, 2 months 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 …

Thane: 5 Hack Into Payment Gateway Software, Siphon Off Rs 25 Crore
1 year, 3 months ago

Thane: 5 Hack Into Payment Gateway Software, Siphon Off Rs 25 Crore

News 18  

Five persons were booked in connection to the hacking of a payment gateway company’s software and siphoned off Rs 25 crore. Investigations revealed that of the Rs 25 crore, Rs 1.39 crore was transferred to the fake firm’s account, which was based in Navi Mumbai. “Out of Rs 1.39 crore, the second arrested accused had transferred Rs 64 lakh to …

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR
1 year, 3 months ago

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR

The Hindu  

A group of persons allegedly hacked into a payment gateway service provider company’s account and siphoned off funds worth over ₹16,180 crore from different bank accounts over a period of time, the Thane police said. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra’s Thane city of hacking …

Police register FIR after Rs 16,180 crore hacked from payment gateway company account
1 year, 3 months ago

Police register FIR after Rs 16,180 crore hacked from payment gateway company account

India TV News  

At least Rs 16,180 crore was taken from different bank accounts over a period of time after a group of persons allegedly hacked into a payment gateway service provider company's account, Thane Police said on Sunday. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra's Thane city of …

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

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

Hindustan Times  

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

Accused in Karuvannur bank scam benami of MLA and ex-MP, ED tells PMLA court
1 year, 4 months ago

Accused in Karuvannur bank scam benami of MLA and ex-MP, ED tells PMLA court

The Hindu  

The Enforcement Directorate on Friday told the Special Prevention of Money Laundering Act court here that Satheesh Kumar P., who was arrested in connection with the multi-crore Karuvannur Cooperative Bank scam, was a benami of a former MP, a sitting MLA and high-ranking police officers. The ED investigating team said in its remand report that the forensic examination of Mr. …

ED Files Charge Sheet Against 'Conman' Who Duped People in Name of PMO, Contacts with Politicians
1 year, 5 months ago

ED Files Charge Sheet Against 'Conman' Who Duped People in Name of PMO, Contacts with Politicians

News 18  

A charge sheet under the anti-money laundering law has been filed against alleged conman Sanjay Prakash Rai alias Sanjay Sherpuria for “cheating” several people by portraying himself to be close to the PMO, senior bureaucrats and politicians, the ED said on Wednesday. The said payment of Rs six crore was received by Rai “under the guise of donation in YREF …

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

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

Hindustan Times  

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

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

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

India TV News  

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

Bank fraud case: ED attaches properties worth ₹24.94 cr of Ludhiana-based firm
1 year, 6 months ago

Bank fraud case: ED attaches properties worth ₹24.94 cr of Ludhiana-based firm

Hindustan Times  

Directorate of Enforcement has provisionally attached properties worth ₹24.94 crore of director of Ludhiana-based Pure Milk Products Private Limited Charanjit Singh Bajaj and guarantor Gurdeep Kaur in connection with a bank fraud case. The properties attached include land and building of the firm situated at village Alamgir, Malerkotla Road in Ludhiana and various immovable properties in the name of both …

Bureaucrat arrested in corruption case deposited Rs 1.25 crore in family accounts
1 year, 6 months ago

Bureaucrat arrested in corruption case deposited Rs 1.25 crore in family accounts

India Today  

Sachin Sawant, the Indian Revenue Services officer who was arrested by the Enforcement Directorate in connection with a corruption and disproportionate assets case, deposited Rs 1.25 crore into the accounts of his family members, said the probe agency. Sawant, who is the Additional Commissioner of Customs and GST, had investigated a diamond trading company for illegally diverting and remitting over …

Ex-ICICI Bank CEO Chanda Kochhar got Rs 64 crore illegal gratification: CBI
1 year, 6 months ago

Ex-ICICI Bank CEO Chanda Kochhar got Rs 64 crore illegal gratification: CBI

India Today  

The Central Bureau of Investigation asked the Bombay High Court to take cognisance of its charge sheet, claiming that former ICICI Bank CEO and MD Chanda Kochhar "misappropriated the bank's funds for her own use" and got Rs 64 crore as "illegal gratification". The central probe agency said the amount was transferred through a complex structure involving various companies of …

ED arrests man in Pune co-op bank fraud case worth Rs 430 Cr
1 year, 6 months ago

ED arrests man in Pune co-op bank fraud case worth Rs 430 Cr

India Today  

The Enforcement Directorate arrested one Sagar Maruti Suryawanshi, in the Pune-based Seva Vikas Co-operative Bank fraud case. The co-op bank suffered a loss of nearly Rs 430 crore, as its Directors and Chairman are responsible for giving out fraudulent loans which later turned into NPA. Subsequently, an audit of the bank, found gross fraud and misappropriation of Rs 429.6 Crore …

Videocon loans fraud case: ICICI Bank grants CBI sanction to prosecute Chanda Kochhar
1 year, 7 months ago

Videocon loans fraud case: ICICI Bank grants CBI sanction to prosecute Chanda Kochhar

Hindustan Times  

The Central Bureau of Investigation on Wednesday informed a special court that ICICI Bank had granted the agency sanction to prosecute its former managing director and chief executive officer Chanda Kochhar in connection with a case of alleged irregularities in granting loans to six of Videocon Group firms promoted by Venugopal Dhoot. Photograph: ABHIJIT BHATLEKAR/MINT The bank’s board of directors …

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium
1 year, 8 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 …

ICICI Bank loan fraud: CBI files charge sheet against Kochhars, Dhoot
1 year, 9 months ago

ICICI Bank loan fraud: CBI files charge sheet against Kochhars, Dhoot

India Today  

The CBI has filed a charge sheet against former MD and CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar and Videocon Group founder Venugopal Dhoot in a Rs 3,250 crore loan fraud case, officials said on Saturday. The CBI has moved to file its final report before a special court in Mumbai without the mandatory requirement of sanction …

ICICI Bank loan fraud case: CBI files charge sheet against Kochhars, Dhoot
1 year, 9 months ago

ICICI Bank loan fraud case: CBI files charge sheet against Kochhars, Dhoot

Hindustan Times  

The Central Bureau of Investigation last week filed a charge sheet against former ICICI Bank managing director Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and six others in connection with quid-pro-quo loans granted by ICICI Bank to some Videocon Group entities in return for Dhoot’s investment in Deepak Kochhar’s company. Chanda Kochhar and Deepak Kochhar are …

Former IDBI GM conspired with Vijay Mallya over short-term loan to Kingfisher Airlines: CBI
1 year, 9 months ago

Former IDBI GM conspired with Vijay Mallya over short-term loan to Kingfisher Airlines: CBI

The Hindu  

A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary charge sheet filed in a Mumbai court. As per the charge sheet, former IDBI Bank general manager Buddhadev Dasgupta abused his position, conspired with colleagues and Vijay Mallya in …

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 …

ICICI loan fraud case: Court extends CBI custody of Kochhars, Venugopal Dhoot
2 years ago

ICICI loan fraud case: Court extends CBI custody of Kochhars, Venugopal Dhoot

Deccan Chronicle  

New Delhi: The Central Bureau of Investigation court on Wednesday granted two days more of custody to the CBI of three accused -Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot- in the alleged ICICI bank-Videocon money laundering case. In the alleged fraud case, CBI had sought custody of Videocon chairman Venugopal Dhoot, Former Managing Director and CEO of ICICI bank Chanda …

Loan fraud case: Ex-ICICI Bank CEO Chanda Kochhar, husband approach HC
2 years ago

Loan fraud case: Ex-ICICI Bank CEO Chanda Kochhar, husband approach HC

Deccan Chronicle  

MUMBAI: Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay High Court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The CBI had named the Kochhars and Venugopal Dhoot, chairman of the Videocon Group, along with Nupower Renewables managed by Deepak Kochhar, Supreme Energy …

ICICI Loan Fraud: No Relief To Kochhars From Bombay HC; CBI Says Couple Not Cooperating in Probe
2 years ago

ICICI Loan Fraud: No Relief To Kochhars From Bombay HC; CBI Says Couple Not Cooperating in Probe

News 18  

The vacation bench of the Bombay High Court on Tuesday refused to intervene in the matter of arrest of former ICICI Bank MD and CEO Chanda Kochhar and her husband Deepak Kochhar. The Kochhars had approached the High Court challenging their arrest by the Central Bureau of Investigation in the ICICI loan fraud case. The Kochhars, along with Videocon Group’s …

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

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case

Op India  

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

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

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

News 18  

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

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case
2 years, 1 month 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 …

Delhi HC Calls for Centre's Stand on Plea for NIA Probe Against DHFL's Ex Promoters on Allegation of Terror Funding
2 years, 1 month ago

Delhi HC Calls for Centre's Stand on Plea for NIA Probe Against DHFL's Ex Promoters on Allegation of Terror Funding

News 18  

The Delhi High Court Thursday sought to know the Centre's stand on a plea seeking a probe by NIA against several persons, including former DHFL promoters Kapil and Dheeraj Wadhawan facing prosecution in a multi-crore bank loan scam case, for allegedly indulging in terror funding. The petition said that on May 9, the petitioner filed a complaint "regarding the offences …

ED files chargesheet against Jammu group, promoters in bank loan fraud
2 years, 2 months ago

ED files chargesheet against Jammu group, promoters in bank loan fraud

India TV News  

The Enforcement Directorate official said on Monday that a chargesheet under the Anti-Money Laundering Law has been filed against the promoters of a Jammu-based business group in a case linked to an alleged bank loan fraud involving an amount of more than Rs 91 crore. Raj Kumar Gupta, Radhika Mahajan, Rajat Mahajan, Jhelum Industries, Jhelum Infra Projects India Private Limited, …

Hyderabad cybercrime wing bust Rs 903-cr Chinese investment fraud
2 years, 3 months ago

Hyderabad cybercrime wing bust Rs 903-cr Chinese investment fraud

Deccan Chronicle  

HYDERABAD: The Hyderabad police have arrested 10 accused in connection with a Rs 903 crore massive investment fraud that was being carried out by Chinese nationals across various regions of India via Dubai and Cambodia. The arrested include Chu Chun-yu, a Taiwanese national and the network's kingpin, Lec alias Li Zhonjun, a Chinese national, Navneeth Kaushik, the owner of two …

CBI arrests ABG founder-chairman Rishi Agarwal in Rs 22,842-crore bank fraud case
2 years, 3 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 …

CBI arrests ICICI bank manager for accepting Rs 50,000 as bribe
2 years, 4 months ago

CBI arrests ICICI bank manager for accepting Rs 50,000 as bribe

India Today  

The Central Bureau of Investigation on Friday arrested a branch sales manager of ICICI Bank, Bhuteshwar branch, Mathura and a sales executive for demanding and accepting Rs.50,000 as a bribe. The complainant had availed a home loan facility of Rs 10 lakh from the ICICI branch in Bhuteshwar. However, the branch sales manager demanded a bribe of Rs 50,000 from …

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders
2 years, 5 months ago

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

News 18  

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

Will Take Action if Employees Found Guilty in Irregularities in Remittance Case: IndusInd Bank
2 years, 6 months ago

Will Take Action if Employees Found Guilty in Irregularities in Remittance Case: IndusInd Bank

News 18  

IndusInd Bank on Wednesday said it will take “appropriate action” against any of its employees if found indulging in any illegitimate transaction related to an old case being probed by the enforcement directorate. The matter relates to the Directorate of Enforcement investigating a few entities for certain “alleged irregularities” in remittances for import transactions conducted during 2011-2014, IndusInd Bank said …

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