ED files chargesheet against Jammu group, promoters in bank loan fraud
India | November 14, 2022 19:13 ISTBank loan fraud case: The ED said the loans were "not used" for the intended purposes and were defaulted, the agency said.
Bank loan fraud case: The ED said the loans were "not used" for the intended purposes and were defaulted, the agency said.
Bank fraud case: It has been alleged that the accused, which also includes a private corporation and its directors, defrauded a group of 10 banks, led by the Central Bank of India, resulting in fraud of around Rs 1530.99 crores.
The Enforcement Directorate (ED) had issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) on Tuesday to attach the assets of Bhosale, worth Rs 164 crore, while Chhabria's assets are worth Rs 251 crore.
Varun Gandhi was reffering to a bank fraud case in which CBI has booked ABG Shipyard Ltd and its former chairman and managing director for allegedly cheating a consortium of banks led by State Bank of India of over Rs 22,842 crore.
In its complaint, the SBI said ABG Shipyard Limited (ABGSL) is the flagship company of the ABG Group, which is engaged in the business of ship building and ship repair.
This is the biggest bank fraud case registered by CBI. Funds were used for purposes other than for which they were released by banks.
One of the cases was registered on a complaint from the Bank of India against an Ahmedabad-based private firm, its Directors, and unknown public servants for causing a loss of Rs 631.97 crore to the bank.
The case pertains to a loan taken from Assam Cooperative and Agriculture Development Bank.
The gang of cheats had allegedly duped the Bank by opening priority accounts in several banks to avail of premier banking services using fake documents.
The ED said the "allegations against the accused include diversion of funds from loan accounts by round-tripping through related entities and siphoning of funds was being done by way of suspicious sale/purchase from various entities."
A court in Dominica has "restrained" authorities from removing fugitive businessman Mehul Choksi from the Caribbean island country till further orders, local media reported.
Fugitive diamantaire Mehul Choksi is understood to have gone missing in Antigua and Barbuda with the police launching a manhunt to trace him since Sunday, local media outlets reported.
The police said that on January 16, a complaint was received from a bank in Karol Bagh stating that a person named Anurag deposited three different cheques for clearing.
The Central Bureau of Investigation (CBI) has registered a case against Kwality Limited, Kwality Limited, one of the country's most popular dairy product makers, and its directors for defrauding Bank of India and other banks of over Rs 1400 crore.
The annual report of Reserve Bank of India showed that the banks frauds of ₹100,000 and above have more than doubled in value to ₹1.85 trillion in FY20, with the number of such cases increasing 28% in the same period.
The Central Bureau of Investigation (CBI) on Saturday brought an accused in a bank fraud case from Muscat, Oman. The accused, identified as Sunny Kalra has been brought along with his wife.
The CBI on Tuesday carried out searches at eight locations in Delhi, Gurugram and Dehradun after registering a case against Educomp Solutions Ltd (ESL), its subsidiary and directors for allegedly defrauding an SBI-led consortium of 13 banks to the tune of Rs 1,955 crore, officials said.
The Enforcement Directorate (ED) on Wednesday said that it has arrested G.S.C. Raju, promoter of Leo Meridian Infrastructure Projects and Hotels Limited (LMIPHL) and his close associate A.V. Prasad in connection with its probe into money laundering case worth Rs 1,768 crore.
In the bank advances category, there were 3,606 number of fraud cases involving Rs 64,548 crore reported in 2018-19.
The relative said Jiandani had an account in Punjab & Maharashtra Cooperative Bank (PMC Bank), which was put under restrictions by the RBI in September after an alleged Rs 4,355 crore scam came to light.
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