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Probe Agency Raids Mumbai-Based Group In Rs 975 Crore Bank Loan Fraud Case
Luxury cars like Mercedes Benz and Lexus, and watch brands like Rolex and Hublot apart from more than 140 bank accounts and lockers were seized after the ED raided a Mumbai-based business group in an alleged Rs 975 crore bank loan fraud case.
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Loan Fraud: Mumbai Court Rejects Kochhars's Demand For Home Food, Bed
The CBI alleged that ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group in violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.
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Raids At Multiple Locations In Rs 22,842 Crore ABG Shipyard Fraud Case
The Enforcement Directorate or ED today raided multiple premises in Mumbai, Pune and Surat in connection with a money laundering probe against ABG Shipyard Ltd in an alleged Rs 22,842 crore bank loan fraud case, officials said.
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Yes Bank Fraud: Probe Agency Files Chargesheet Against Mumbai Realty Firm Owners
The Enforcement Directorate (ED) has filed a chargesheet in connection with its money laundering probe against Mumbai-based realty group Omkar Realtors and Developers linked to alleged illegal diversion of Yes Bank loan funds worth over Rs 400 crore.
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7 Arrested In Mumbai For Loan Fraud, Cars Worth Rs 6 Crore Seized
Seven persons were arrested for allegedly operating a racket in which luxury cars were being sold and mortgaged after buying them through loans using bogus documents, a Mumbai Crime Branch official said on Tuesday.
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CBI Conducts Searches At 13 Locations In Rs 568.52 Crore Bank Fraud
The CBI carried out searches at 13 places in Mumbai and Lonavala on Thursday after registering a case in a bank loan fraud worth Rs 568.52 crore by P&S Jewellery Limited, officials said.
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2 Ex-Bank Officials In Mumbai Convicted In 26-Year-Old Fraud Case
A special court in Mumbai on Wednesday sentenced two former managers of Bank of Maharashtra to one year imprisonment in a 26-year-old loan fraud case.
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PMC Bank Crisis: Police Custody Of HDIL Directors Extended To October 14
A Mumbai court has extended police custody of HDIL Directors Rakesh and Sarang Wadhwan till October 14 after they were arrested last week in connection with loan default worth Rs 4,355 crore at PMC Bank
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In PMC Bank Crisis, Directors Of Firm Accused Of Loan Default Arrested
Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...
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"Can't Travel 41 Hours To India": Mehul Choksi Tells Court, Blames Agency
Fugitive jeweller Mehul Choksi has told a court in Mumbai that he cannot travel to India, where he is wanted by investigating agencies for loan fraud, as he cannot bear a 41-hour journey from Antigua because of his poor health.
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In Nirav Modi Bank Fraud Case, Probe Agency Moves Court For Extradition
PNB scam: The Enforcement Directorate (ED) moved a special court in Mumbai today, seeking extradition of billionaire jeweller Nirav Modi in connection with a money laundering case related to the $2 billion Punjab National Bank loan fraud, officials said
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Businessman Fights To Save Mumbai Home After PNB Allegedly Gives Rs 3 Crore Loan To "Fraud" Buyer
There's no end to Punjab National Bank's (PNB) deception. Even as probes by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) into the Rs 11,400-crore Nirav Modi scam are underway, Mumbai Police has initiated an inquiry against the bank's Santacruz branch, which allegedly sanctioned a housing loan of Rs 3 crore on the s...
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PNB-Nirav Modi Fraud: What Had Transpired At Mumbai's Brady Road Branch
Nirav Modi, and the firms he controls, allegedly leveraged the loopholes in the banking system by seeking letters of undertaking (LoU) and raising credit from foreign banks to pay its merchants. An LoU is a bank guarantee issued for overseas import payments. For past seven years, Nirav Modi and his three firms-Diamond R Us, Solar Exports and Stella...
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PNB, Hit By Massive Fraud, Warned Banks About How The Scam Worked
Before suspending 10 of its officials for giant fraud linked to celebrity jeweller Nirav Modi, Punjab National Bank (PNB) sent a caution notice to several banks explaining how it was swindled out of Rs 11,000 crore by its own officials.
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Businessman Seeks Loan For New Car, Discovers He Already Bought Two
A 55-year-old businessman from Thane approached a financial institution to seek loan for buying a new car, and was shocked to learn that he was on a defaulters' list, for not repaying Rs 15 lakh for two cars purchased earlier. Dashrath Sable, who owns a travel business, found the two cars had been bought with his documents and even his signature ha...
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Probe Agency Raids Mumbai-Based Group In Rs 975 Crore Bank Loan Fraud Case
Luxury cars like Mercedes Benz and Lexus, and watch brands like Rolex and Hublot apart from more than 140 bank accounts and lockers were seized after the ED raided a Mumbai-based business group in an alleged Rs 975 crore bank loan fraud case.
-
Loan Fraud: Mumbai Court Rejects Kochhars's Demand For Home Food, Bed
The CBI alleged that ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group in violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.
-
Raids At Multiple Locations In Rs 22,842 Crore ABG Shipyard Fraud Case
The Enforcement Directorate or ED today raided multiple premises in Mumbai, Pune and Surat in connection with a money laundering probe against ABG Shipyard Ltd in an alleged Rs 22,842 crore bank loan fraud case, officials said.
-
Yes Bank Fraud: Probe Agency Files Chargesheet Against Mumbai Realty Firm Owners
The Enforcement Directorate (ED) has filed a chargesheet in connection with its money laundering probe against Mumbai-based realty group Omkar Realtors and Developers linked to alleged illegal diversion of Yes Bank loan funds worth over Rs 400 crore.
-
7 Arrested In Mumbai For Loan Fraud, Cars Worth Rs 6 Crore Seized
Seven persons were arrested for allegedly operating a racket in which luxury cars were being sold and mortgaged after buying them through loans using bogus documents, a Mumbai Crime Branch official said on Tuesday.
-
CBI Conducts Searches At 13 Locations In Rs 568.52 Crore Bank Fraud
The CBI carried out searches at 13 places in Mumbai and Lonavala on Thursday after registering a case in a bank loan fraud worth Rs 568.52 crore by P&S Jewellery Limited, officials said.
-
2 Ex-Bank Officials In Mumbai Convicted In 26-Year-Old Fraud Case
A special court in Mumbai on Wednesday sentenced two former managers of Bank of Maharashtra to one year imprisonment in a 26-year-old loan fraud case.
-
PMC Bank Crisis: Police Custody Of HDIL Directors Extended To October 14
A Mumbai court has extended police custody of HDIL Directors Rakesh and Sarang Wadhwan till October 14 after they were arrested last week in connection with loan default worth Rs 4,355 crore at PMC Bank
-
In PMC Bank Crisis, Directors Of Firm Accused Of Loan Default Arrested
Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...
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"Can't Travel 41 Hours To India": Mehul Choksi Tells Court, Blames Agency
Fugitive jeweller Mehul Choksi has told a court in Mumbai that he cannot travel to India, where he is wanted by investigating agencies for loan fraud, as he cannot bear a 41-hour journey from Antigua because of his poor health.
-
In Nirav Modi Bank Fraud Case, Probe Agency Moves Court For Extradition
PNB scam: The Enforcement Directorate (ED) moved a special court in Mumbai today, seeking extradition of billionaire jeweller Nirav Modi in connection with a money laundering case related to the $2 billion Punjab National Bank loan fraud, officials said
-
Businessman Fights To Save Mumbai Home After PNB Allegedly Gives Rs 3 Crore Loan To "Fraud" Buyer
There's no end to Punjab National Bank's (PNB) deception. Even as probes by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) into the Rs 11,400-crore Nirav Modi scam are underway, Mumbai Police has initiated an inquiry against the bank's Santacruz branch, which allegedly sanctioned a housing loan of Rs 3 crore on the s...
-
PNB-Nirav Modi Fraud: What Had Transpired At Mumbai's Brady Road Branch
Nirav Modi, and the firms he controls, allegedly leveraged the loopholes in the banking system by seeking letters of undertaking (LoU) and raising credit from foreign banks to pay its merchants. An LoU is a bank guarantee issued for overseas import payments. For past seven years, Nirav Modi and his three firms-Diamond R Us, Solar Exports and Stella...
-
PNB, Hit By Massive Fraud, Warned Banks About How The Scam Worked
Before suspending 10 of its officials for giant fraud linked to celebrity jeweller Nirav Modi, Punjab National Bank (PNB) sent a caution notice to several banks explaining how it was swindled out of Rs 11,000 crore by its own officials.
-
Businessman Seeks Loan For New Car, Discovers He Already Bought Two
A 55-year-old businessman from Thane approached a financial institution to seek loan for buying a new car, and was shocked to learn that he was on a defaulters' list, for not repaying Rs 15 lakh for two cars purchased earlier. Dashrath Sable, who owns a travel business, found the two cars had been bought with his documents and even his signature ha...
