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FRAUD CLASSIFICATION
Balance sheet trick: Decoding another manipulation, and how to spot a bad apple in your portfolio before othersThere is one line in the accounts that most investors skip because it looks routine. But behind that line can sit disputed demands, old los...- SC turns down Anil Ambani plea against 'fraud' tagThe Supreme Court has rejected Anil Ambani's appeal. He challenged banks classifying his loan accounts as fraudulent. The court found no gr...
- Banks to seek RBI nod for parallel fraud probesBanks are seeking RBI approval for parallel internal investigations alongside law enforcement probes into borrower accounts. This aims to p...
- 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...
- SFIO summons former top executives of IndusInd Bank in accounting probeThe Serious Fraud Investigation Office is investigating IndusInd Bank's accounting irregularities. Key former executives have been summoned...
- 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’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...
- Banks can flag fraud despite IBC shield: NCLTThe National Company Law Tribunal (NCLT) has ruled that a moratorium under the IBC doesn't prevent banks from classifying accounts as fraud...
- Anil Ambani case: When does a loan account turn fraudulent?The Bombay High Court raised concerns over the arbitrary process by banks declaring loan accounts as fraudulent without following proper RB...
- Banks' fraud account classification faces legal challenges: No personal hearings, potential court battles aheadBanks in India will not provide a personal hearing to companies before classifying them as 'fraud' accounts, but will re-evaluate the decis...
- 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 ...
- Misuse of fraud classification guidelines by banks is rampant: Sunil Kanoria, co-founder Srei Infrastructure FinanceOn July 1, 2016, the Reserve Bank of India came out with a Master Circular on "Frauds – Classification and Reporting" under Section 35 A of...
- Reliance Group says allegations of fraud 'unjustified' and 'unwarranted'"The alleged ‘fraud’ classification by certain banks is entirely unjustified and unwarranted, and the ...Delhi High Court by an interim ord...
- RBI imposes Rs 35 lakh fine on Tamilnad Mercantile BankThe bank has been penalised for non-compliance with certain provisions of directions issued by RBI on frauds classification and reporting.
- RBI imposes Rs 1 crore fine on LVB, Rs 75 lakh on Syndicate Bank for violating normsIn a similarly worded release, it said a monetary penalty of Rs 75 lakh has been imposed on Syndicate Bank for non-compliance with the dire...
- 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...
- PNB Fraud: RBI sets up panel, asks banks to strengthen SWIFT systemThe panel will also look into the reasons for high divergence observed in asset classification and provisioning by banks vis-à-vis the RBI’...
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