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LOAN FUNDS SIPHONING
Court allows Jet Airways founder Naresh Goyal to travel to London for medical consultationA Mumbai court has permitted Jet Airways founder Naresh Goyal to travel to London for four weeks. Goyal, facing money laundering charges, s...- ED chargesheets UK national in probe against Videocon GroupThe Enforcement Directorate has filed charges against Sachin Dev Duggal, a British citizen, in a major bank loan fraud case involving the V...
- ED arrests Amitabh Jhunjhunwala, Amit Bapna in ADAG-linked money laundering probeEnforcement Directorate arrested two former Anil Dhirubhai Ambani Group executives. Amitabh Jhunjhunwala and Amit Bapna face money launderi...
- Sebi bans Wadhawan brothers, four others; slaps ₹120-cr fineSebi has penalized former DHFL chairman Kapil Wadhawan, his brother Dheeraj, and four others, barring them from the securities market for f...
- ED restitutes Rs 380-cr worth assets in cooperative bank 'fraud' involving ex MLAEnforcement Directorate restored assets worth Rs 380 crore to Maharashtra. This is for distribution to depositors of Karnala Nagari Sahakar...
- CBI registers case against Hythro Power Corporation Ltd for causing loss of Rs 346 cr to public sector bankThe Central Bureau of Investigation has filed a case against the directors of Hythro Power Corporation Ltd for causing a wrongful loss of R...
- PMLA court denies medical bail to Naresh GoyalNaresh Goyal denied medical bail by Mumbai PMLA court due to malignancy. Arrested for siphoning Canara Bank loans. ED's complaint involves ...
- Religare requests ED to expedite probe into money allegedly siphoned off by erstwhile promotersREL said it stands committed to recover the amount siphoned off from REL and its subsidiaries by the erstwhile promoters Malvinder Mohan Si...
- CBI registers FIR against GTL Ltd over allegations of Rs 4500 crore fraudThe complaint has revealed that GTL Ltd. had fraudulently obtained various credit facilities from consortium banks and subsequently diverte...
- Yes Bank-DHFL case: Rana Kapoor, Wadhawans laundered money worth Rs 5,050 crore, says EDDuring the investigation, it came to light that a big part of the proceeds of crime (POC) generated in this case has been siphoned off over...
- Amidst liquidity crunch due to Covid, businesses face risk of frauds, round tripping and evergreening of loans: PwC reportUnstable cashflows and low reserves, coupled with a restricted ability to seek additional debt or equity financing, can create immense pres...
- DHFL tanks 5% on forensic audit pointing to fund diversionKPMG found that DHFL promoters diverted nearly Rs 20K cr of bank loans to related entities.
- IBA-empanelled agencies to monitor PSB funds usageIn all, 83 agencies empanelled by the IBA would be appointed by lenders on case-to-case basis depending on size of the corporate and the co...
- SEBI voices concern over related party transactionsThe capital markets regulator also said another means of such diversion was extension of loans.
- Jet Airways audit shows diversion of funds, fraudulent billingEY report says invoices were not verified and fuel expenses hiked substantially for airline.
- SAIF partners moves to NCLT against Srinivas Raju alleging fraudA fund of SAIF Partners has moved the NCLT, accusing venture capitalist Srinivas Raju and his firms of accounting fraud from a company wher...
- Round tripping of funds: Sebi slaps Rs 18 crore fine on 22 entitiesInvestigations found that certain fraudulent exercises were committed by the promoters of BLL.
- Modi government, RBI may look at penal action, one-time settlement to fix bank defaultersGovernment and the central bank are awaiting the report from banks post completion of forensic audit on big defaulters, an official told ET...
- RBI tells Uco Bank to pay Rs 1 crore fine for flouting bill discounting rulesThe bank, according to the sector regulator, opened current accounts to some account holders and provided them bill discounting facilities ...
- Ramesh Kadam siphoned off LASDC funds; distributed it among leaders: CM Devendra FadnavisFadnavis today alleged that NCP leader Kadam, who headed the LASDC, had illegally siphoned off funds and distributed them to political lead...
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