Bank Fraud | The Asian Age

Thursday, Apr 18, 2024 | Last Update : 10:30 AM IST

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Mehul Choksi, who is also a lawyer, completed his PhD under the guidance of Nilesh Joshi of Arts Department, Veer Narmad South Gujarat University. (Photo: ANI)

Surat-based student Mehul Choksi submits doctoral thesis on PM Modi

The student bears the same name as the fugitive businessman Mehul Choksi, who is wanted in India in loan default cases.

18 Mar 2019 11:28 AM

Investigations in case were initiated on complaint registered by CBI in Gandhinagar against DPIL and others for causing loss to consortium of banks to the tune of Rs 2654 crore. (Photo: File)

ED files complaint against DPIL Ltd for Rs 2,600 crore bank fraud

Charges made under section 4 of Prevention of Money Laundering Act, for confiscation of linked assets, and punishment for directors of DIPL.

28 Dec 2018 4:13 PM

The Central Bureau of Investigation (CBI) has no input on fugitive businessmen Nitin Sandesara's whereabouts, from the United Arab Emirates (UAE) or Nigeria, confirmed a CBI source.

CBI has no input on fugitive businessman Nitin Sandesara: sources

The businessman and his brother Chetan Sandesara fled from the country last year along with family members.

25 Sep 2018 12:15 PM

The Reserve Bank of India has imposed a Rs 1 crore penalty on Union Bank of India for failing to detect and report fraud on time.

RBI fines Union Bank Rs 1 crore for delay in fraud detection, reporting

However, the bank said that the amount of the penalty is not material considering the size of the bank.

07 Sep 2018 3:16 PM

The three companies sell jewellery to major retailers including Costco Wholesale Corp, J C Penny Co, Army/Navy Stores, Macy's Inc and Zale Corp, among others.

3 Nirav Modi-linked US firms 'directly involved' in bank fraud: report

Firestar Chief Executive Officer Mihir Bhansali and A Jaffe CFO Ajay Gandhi were involved in fraudulent transactions.

27 Aug 2018 11:09 AM

US President Donald Trump (Photo: Pixabay)

Donald Trump predicts market crash if he’s impeached

The Manafort conviction was the first case sent to trial by special prosecutor Robert Muller probing Russian meddling in the 2016 election.

24 Aug 2018 3:02 AM

The government on Monday dismissed Usha Ananthasubramanian, former managing director of scam hit Punjab National Bank and Allahabad Bank, from service, according to an official notification.

Punjab National Bank scam: Govt dismisses former MD from service

She was to superannuate on Monday but has been dismissed from the service.

13 Aug 2018 5:52 PM

Vijay Mallya remains on bail since his arrest on an extradition warrant in April last year. (Photo: File)

Another setback for Mallya; UK court rejects permission to appeal

Vijay Mallya, who is separately undergoing extradition trial in UK court, had sought permission to appeal against HC order dated May 8.

26 Jul 2018 9:19 AM

A special PMLA court in Mumbai had last month issued summons to Vijay Mallya to appear before it on August 27 on ED's plea. (Photo: AP | File)

Vijay Mallya reaches out to authorities, willing to return to India: report

Fugitive businessman Mallya is said to have sent feelers to authorities that he would like to join legal process in India.

25 Jul 2018 9:27 AM

One of the main defendants in India’s largest bank fraud case made a court application on Monday for cancellation of an arrest warrant against him, citing fears for his life because of a growing number of mob lynchings in the country.

PNB fraud defendant Mehul Choksi fears 'mob lynching' in India

The recent trend of “mob lynching is growing”, Choksi’s lawyer said in the application.

24 Jul 2018 12:14 PM

The new law will replace an executive order introduced by the government to initiate the seizure of assets of jewellers Nirav Modi.

India approves bill to prosecute fugitive tycoons

Fugitive Economic Offenders Bill law, which will go to Rajya Sabha and the president in the coming days.

20 Jul 2018 8:54 AM

Punjab National Bank (PNB) is closing nearly all its operations in a Mumbai branch that was at the heart of a USD 2 billion fraud, according to four sources with knowledge of the decision.

PNB to shutter most operations at fraud-hit Mumbai branch, say sources

India’s second-largest state lender seeks to tighten controls and restore its reputation.

03 Jul 2018 5:48 PM

Nirav Modi group's exposure was not limited to only PNB's Brady House branch in Mumbai.

Nirav Modi availed loans from PNB Hong Kong, Dubai branches too: report

The 162-page report alleged that a group of employees at the Brady House branch issued fake letters of undertaking.

27 Jun 2018 12:52 PM

A USD 2 billion fraud at India’s Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank’s own internal probe has found.

Lapses at many levels of bank led to huge PNB fraud, says report

The bank’s CEO Sunil Mehta told in April he had suspended 21 officials and “will not spare” others found involved in lapses.

20 Jun 2018 11:04 AM

Enthused by the successful resolution of Bhushan Steel, Nirav Modi fraud-hit Punjab National Bank (PNB) is hopeful of Rs 8,000 crore recovery from bad loans in the first quarter of the current fiscal.

PNB expects Rs 8,000 crore recovery from NPAs this month

The bank, with its focus on recovery of dues from defaulters, has managed to surpass the total amount recovered in the last fiscal.

10 Jun 2018 7:41 PM

The accused was booked under various IPC sections for cheating, criminal breach of trust and forgery. (Representational Image)

Thane: Police hunt for man who took bank loans with fake documents

The accused used to change his name, prepare fake documents to approach banks for availing loans for various purposes.

28 May 2018 7:57 PM

The enforcement directorate has registered a case of money laundering in connection with an alleged Rs 621 crore loan fraud involving UCO Bank.

ED files PMLA case in Rs 621 crore UCO Bank loan fraud

The agency has filed a criminal complaint under the Prevention of Money Laundering Act.

07 May 2018 2:03 PM

The Income Tax (IT) Department on Monday sent a second notice to ICICI Bank Chief Chanda Kochhar's husband, Deepak Kochhar.

Income Tax Dept sends second notice to Deepak Kochhar

The department sent the notice seeking an explanation from Deepak Kochhar on his personal income.

30 Apr 2018 2:45 PM

The finance ministry is hopeful of Punjab National Bank making a quick recovery in the first quarter of the current fiscal.

Finance ministry hopeful of PNB rebounding in Q1

The ministry is keeping a tight watch on the bank’s performance so as not to let the bank slip into further mess.

23 Apr 2018 12:19 PM

The government has intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of Punjab National Bank. (Photo: PTI)

PNB scam: Govt intervenes in Nirav Modi firms' bankruptcy case in US

Some Nirav Modi firms filing for bankruptcy in the US would jeopardise the interests of Punjab National Bank.

22 Apr 2018 12:49 PM

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Syed Ata Hasnain