Pawar meets Anurag Thakur to discuss revival of scam-hit PMC Bank
The PMC Bank has been put under restrictions by the RBI, after a multi-crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors. The withdrawal limit was increased gradually to Rs 50,000.
Bank loan fraud: ED arrests 2 on money laundering charges in Hyderabad
The case pertains to the accused fraudulently availing loans, in conni...
RBI asks UCBs to report large accounts data almost with immediate effect
The detailed guideline stipulate that the reporting frequency of the...
Flipkart tightens returns policy on rising frauds
It is suspected that consumers, at a staggering pace, might have ordered new winter clothes and other products and then returned it weeks later after using it, pushing Flipkart to make this change in its policy, sources said.
ED files chargesheet in Bhushan Power and Steel case
The Enforcement Directorate (ED) has filed its first chargesheet in the money laundering case related to Bhushan Power and Steel Ltd (BPSL)....
Enforcement Directorate names JSW Steel in BPSL case
The Enforcement Directorate on Friday filed a charge sheet against former Bhushan Power and Steel Ltd CMD Sanjay Singal and others in a multi-crore money laundering case linked to an alleged bank loan fraud.
Revenue department detects 931 GST fraud cases through data analytics
Refunds of over Rs 28,000 crore are said to have been filed by over 27,000 taxpayers so far on account of inverted duty structure in the current financial year.
NCLAT asks investigative agencies to clarify over JSW Steel's immunity in BPSL matter
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code (IBC) last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL managemet.
Forensic audit finds no fraud, fund diversion at Reliance Home Finance
Lenders of the company had appointed Grant Thornton for the audit, as required under the RBI guidelines.
Religare fraud: Enforcement Directorate set to file chargesheet
Malvinder Singh and Shivinder Singh, ex promoters of REL were booked & arrested by the agency last year.
Birla house can be sold to repay BPSL depositors’ dues: Court
Birla Power Solutions (BPSL) has allegedly defaulted on repayment of deposits it took between 2009 and 2013. The outstanding amount, according to the probe agencies, is estimated to be more than Rs 500 crore and both Birla and the company are being probed by agencies including the Mumbai Police.
Bhushan Steel case: HC to hear next week ED's plea to modify order directing 'no coercive steps'
The ED had issued summons to Bhushan Steel ex-promoter Neeraj Singal in the money laundering case registered in connection with alleged siphoning of funds worth over Rs 2,000 crore. The court had earlier issued notice to the Centre and the ED, seeking their stand on Singal's plea for a declaration that the PMLA cannot be made applicable retrospectively.
UCBs look to raise perpetual bonds
UCBs cannot raise capital at a premium as their private sector counterparts do.
Bank frauds rise to record Rs 1.13 lakh cr in H1 FY20
97.3% of the frauds reported in the first half of FY20 by value occurred in previous financial years.
HDIL, its promoters have to repay loan to PMC Bank: HC
The court also said that the assets of HDIL and its promoters Rakesh Wadhawan and Sarang Wadhawan must be sold at the earliest in the interest of the PMC Bank and its depositors. A division bench of Justices Ranjit More and S P Tavade was hearing a PIL filed by an advocate, Sarosh Damania, seeking directions for expeditious disposal of HDIL Group assets.
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