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SBI FRAUD CLASSIFICATION
Supreme Court rules no personal hearing needed before declaring bank account as fraudThe Supreme Court has issued a pivotal directive concerning the classification of bank accounts as fraudulent, opting not to allow personal...- Bombay HC dismisses Anil Ambani’s petition against SBI’s ‘fraud’ classification to RCom loan accountThe Bombay High Court dismissed Anil Ambani's writ petition challenging the State Bank of India's decision to classify Reliance Communicati...
- Bombay HC dismisses Anil Ambani’s plea against SBI classifying his loan account as fraudThe Bombay High Court dismissed Anil Ambani's plea challenging SBI's classification of his and Reliance Communications' loan accounts as "f...
- Anil Ambani denies allegations following CBI action in bank fraud case, says he was ‘singled out’Anil Ambani has denied all allegations of fraud after the Central Bureau of Investigation (CBI) searched his Mumbai residence and Reliance ...
- Anil Ambani’s Reliance Communications loan fraud totals Rs 14,000 crore: SourcesAnil Ambani's Reliance Communications has been accused of loan fraud exceeding ₹14,000 crore, according to ED sources. SBI has labelled RCo...
- SBI classifies RCom, its promoter Anil Ambani as 'fraud'; to lodge complaint with CBIState Bank of India has labeled Reliance Communications and Anil D Ambani as fraudulent. The bank is preparing to file a complaint with the...
- Canara Bank erases 'fraud' tag from Anil Ambani's RCom loanCanara Bank has withdrawn its order classifying Reliance Communications' loan account, promoted by Anil Ambani, as fraudulent, leading the ...
- RPower, Reliance Infra shares tumble up to 5% after SBI flags RCom loan as fraudShares of Reliance Power and Reliance Infrastructure fell sharply after SBI classified Reliance Communications’ loan as fraud, implicating ...
- Supreme Court order on banking fraud: RBI to shortly issue new guidelinesThough State Bank moved the court with a review petition, seeking to know whether the March 27 order only applied prospectively and not aff...
- When a loan account is tagged fraud: Borrower's respite is bank's worryA loan acocunt is categorised as a 'fraud account' after it is red-flagged on the basis of practices like fund diversion (even if there is ...
- Fraudulent A/cs: Supreme Court rejects SBI plea on ruling applicabilityThe State Bank of India had asked the court to clarify that the ruling would only apply prospectively and not affect past decisions. Howeve...
- Lender bound to give opportunity for hearing to borrower before classifying account as fraudulent: SCRejecting the stand of both RBI and the consortium of lenders led by SBI, a Bench led by the Chief Justice said that a decision classifying...
- Borrowers must be accorded hearing before declaration of bank account as fraud: SCThe Supreme Court on Monday said a borrower must be accorded a hearing before an account is classified as "fraud" and a reasoned order must...
- Naresh Goyal moves court to contest 'fraud account' tag by SBIThe Goyals have filed separate writ petitions before the Bombay High Court on the grounds that they were neither served show-cause notice n...
- China Development Bank writes to FM Nirmala Sitharaman, seeks implementation of Reliance Infratel resolutionThe resolution plan which involves Jio purchasing RITL for about Rs 4,000 crore has been kept in abeyance, after the telecom company found ...
- RBI imposes Rs 1 crore penalty on Union Bank of India"The RBI inspection revealed non-compliance with rules on classification of an account as red flag account despite presence of early warnin...
- RBI imposes Rs 1 crore penalty on State Bank of IndiaThe regulator said it had conducted a probe in accounts maintained with SBI and had found it deficient in reporting frauds. “A scrutiny was...
- Delhi High Court rules in favour of ADAG after fraud account tag by BoB and PNBThese companies in their petition have claimed that the banks did not give them a hearing before declaring them as fraudulent.
- RBI slaps Rs 7 crore penalty on SBI for violating various normsThe penalty is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agre...
- RBI imposes penalty on 4 PSU banksA penalty of Rs 2 crore has been imposed on Corporation Bank and Rs 1 crore each on SBI, Bank of Baroda and Union Bank of India.
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