Bank Loan Fraud 300 Crore

Valuables worth Rs 78 lakh were seized after the Enforcement Directorate conducted searches against some oil and gas sector companies as part of a money laundering probe linked to an alleged bank loan fraud of more than Rs 300 crore.

The Delhi Police Economic Offences Wing has served a notice to Niira Radia and other promoters and directors of Nayati Healthcare and research NCR Pvt Ltd to join probe in connection with alleged embezzlement of over Rs 300 crore of bank loan.

A police case has been filed against Sarang Wadhawan and Rakesh Kumar Wadhawan, promoters of the crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL), for loan default reported to be worth up to Rs 4,300 crore, sources said.

The Punjab National Bank has sent a stiff reply to Nirav Modi, demanding that the celebrity jeweller come up with a concrete plan to return the Rs 11,300 crore his companies have borrowed without following proper procedures. The loans, granted illegally by its own officials, have landed India's second largest bank in a huge controversy.

Punjab National Bank, which is at the centre of a probe into a Rs 11,300 crore loan fraud scam, will need to honour the "bonafide" transactions that have occurred through the bank's platform, a finance ministry official said today

As a growing number of skeletons come out of the closet in the Rs 11,300 crore PNB Fraud, a Thomson Reuters news report suggests that at least three other banks have significant amount of exposure to Nirav Modi-Mehul Choksi and their firms of gigantic proportions. The total loan amount is reported to be Rs 17,632 crore in March last year, an amount...

The CBI today asked Interpol for help to arrest celebrity jeweller Nirav Modi, who is being investigated for what is emerging as India's biggest bank fraud. Nirav Modi and his associates are accused of getting Punjab National Bank (PNB) officials to facilitate huge loans using fake guarantees, at the cost of Rs 11,300 crore in public money. The pas...

Valuables worth Rs 78 lakh were seized after the Enforcement Directorate conducted searches against some oil and gas sector companies as part of a money laundering probe linked to an alleged bank loan fraud of more than Rs 300 crore.

The Delhi Police Economic Offences Wing has served a notice to Niira Radia and other promoters and directors of Nayati Healthcare and research NCR Pvt Ltd to join probe in connection with alleged embezzlement of over Rs 300 crore of bank loan.

A police case has been filed against Sarang Wadhawan and Rakesh Kumar Wadhawan, promoters of the crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL), for loan default reported to be worth up to Rs 4,300 crore, sources said.

The Punjab National Bank has sent a stiff reply to Nirav Modi, demanding that the celebrity jeweller come up with a concrete plan to return the Rs 11,300 crore his companies have borrowed without following proper procedures. The loans, granted illegally by its own officials, have landed India's second largest bank in a huge controversy.

Punjab National Bank, which is at the centre of a probe into a Rs 11,300 crore loan fraud scam, will need to honour the "bonafide" transactions that have occurred through the bank's platform, a finance ministry official said today

As a growing number of skeletons come out of the closet in the Rs 11,300 crore PNB Fraud, a Thomson Reuters news report suggests that at least three other banks have significant amount of exposure to Nirav Modi-Mehul Choksi and their firms of gigantic proportions. The total loan amount is reported to be Rs 17,632 crore in March last year, an amount...

The CBI today asked Interpol for help to arrest celebrity jeweller Nirav Modi, who is being investigated for what is emerging as India's biggest bank fraud. Nirav Modi and his associates are accused of getting Punjab National Bank (PNB) officials to facilitate huge loans using fake guarantees, at the cost of Rs 11,300 crore in public money. The pas...