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NPA AND SHELL COMPANIES
ED files chargesheet against ex UCO Bank CMD Subodh Kumar Goel; attaches Rs 106-crore assetsThe Enforcement Directorate (ED) has filed a chargesheet against former UCO Bank CMD Subodh Kumar Goel, his family, and associates in conne...- Terrorists using e-commerce, crypto and social media to raise funds, FATF warnsThe FATF report highlights the increasing misuse of e-commerce, social media, and online payments for terror financing, noting gaps in coun...
- ED raids in Delhi-NCR, Mumbai, Nagpur in over Rs 20,000 crore bank fraud caseThe Enforcement Directorate conducted searches at 35 premises in Delhi-NCR, Mumbai, and Nagpur as part of a money laundering investigation ...
- ABG Shipyard scam: Delhi HC stays banks' decision declaring Rishi Agarwal's account as fraudAgarwal and his companies are being investigated by the Central Bureau of Investigation, the Enforcement Directorate and the Serious Fraud ...
- Karvy Scam: ED attaches assets worth ₹110 crore under PMLAThe money-laundering case was filed based on FIRs by the Hyderabad Police on the complaints of lending banks who alleged the Karvy Group ha...
- Unholy nexus between ARCs and borrowers found after IT raids: CBDTThe department seized Rs 4 crore cash and a "large volume" of documents and digital records, the Central Board of Direct Taxes (CBDT) said ...
- IT raids 4 ARCs, finds cash transaction of Rs 850 crores in one such companyIt has also been found that the ARCs have been following non-transparent methods in disposal of assets that were acquired by them from the ...
- ED attaches Mumbai building worth Rs 190 cr in case against ex-BPSL CMDThe agency claimed a "criminal conspiracy was hatched to dishonestly and fraudulently divert huge amount of bank funds through companies/sh...
- Trending stocks: DHFL shares down over 4%A total of 202,320 shares changed hands on the counter till 12:34PM (IST).
- Allahabad Bank reports Rs 1,775 crore fraud by Bhushan Power & SteelAllahabad Bank reported fraud of over Rs 1,774 crore by Bhushan Power and Steel to the Reserve Bank of India.
- How an IL&FS arm systematically kept lenders in the darkSFIO said IFIN forged documents and didn’t disclose adverse findings about its ability to meet liabilities.
- CBI registers FIR against Bhushan Power & Steels LimitedThe searches were carried out at multiple locations in a number of cities, including the Delhi-NCR, Chandigarh and Kolkata.
- Bullion dealer arrested for buying 285 kg gold post note banPushpak's account was already declared an NPA by the concerned bank.
- Tata Motors took unanimous decision to stop Nano: Cyrus MistryCyrus Mistry also alleged that "the practice of lending without adequate risk assessment" particularly in Nano and small commercial vehicle...
- India may soon come up with a pact to get details of fund diversion via Dubai, Gulf nationsOfficials told ET that work is under way on an agreement that would help secure financial records about firms set up by Indian cos & operat...
- CBI registers FIR against biz group for fraud of Rs 212 croreCBI has registered a case against Deputy General Manager of Central Bank of India, a Kolkata- based company and its three promoters for def...
- Axis Bank may invoke guarantees if Essar group trips on repaymentOne of the branches of Axis Bank has credit exposure (of more than $100 mn) to Peak Trading -the Essar firm which received latest communica...
- Banks, led by State Bank of India, keen to hive off LNG terminal from Dabhol ProjectSources said lenders such as SBI, ICICI Bank, Canara Bank and IDBI Bank are pushing for this and ready to invest more, but other stakeholde...
- Rise of shell companies: Why tax authorities continue to wage a battle with themOver a two-week period in March 2012, thousands of shell companies are believed to have been formed all over the country. A look at why thi...
- 'NPA-hit banks turn to evergreening of books'The pressure of rising bad debts is prompting banks to find innovative ways to disguise stress loans - a move which could impact banks' bal...
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