CBI files another bank fraud case of Rs.1394 Cr
PrintListen to this Article
A Central Bureau of Investigation (CBI) team also carried out raids at several places here after filing the FIR against the firm and its Promoters and Directors Tottempudi Salalith and his wife Tottempudi Kavita.
The CBI filed the case on the basis of a complaint filed by UBI which was cheated of Rs 303.84 crore by the firm.
"Loan was taken from a consortium of eight banks including UBI which was the lead bank. Total dues outstanding for the consortium is Rs 1,394.43 crore. This account became NPA on June 30, 2012 after loan and interest payment default," a CBI official said.
Totem Infrastructure was in the business of road projects, water works and building construction.
It is alleged that funds were diverted and expenditure was inflated, the official said.
On Wednesday, the CBI filed a case against a Chennai-based jeweller, Kanishk Gold Pvt Ltd, for defrauding a consortium of 14 banks led by the State Bank of India to the tune of Rs 824.15 crore in the form of loans that have now been declared as non-performing asset (NPA). #casansaar (Source --IANS, Business Standard)
Category : Banking | Comments : 0 | Hits : 869
The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002, has imposed a monetary penalty of Rs. 5,49,00,000 (rupees five crore forty nine lakh) on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA read with the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (PML Rules) issued thereunder and applicable ...
The government on Monday informed the Lok Sabha that all Scheduled Commercial Banks have written off nearly Rs 10.6 lakh crore in the last 5 years, out of which nearly 50 per cent belong to large industrial houses. It also said that nearly 2300 borrowers, each having a loan amount of Rs 5 crore or more, wilfully defaulted around Rs 2 lakh crore. As per the Reserve Bank of India (RBI) guidelines and policy approved by bank boards, NPAs, including those in respect of which full provisioning has...
The government has cleared the extension of tenure of managing directors of two public sector lenders -- Bank of Maharashtra (BoM) and Central Bank of India. According to sources, Appointments Committee of the Cabinet (ACC) has approved extension of term of office of A S Rajeev, MD and CEO of BoM, for six months till his superannuation. Besides, sources said, ACC has extended the term of M V Rao, MD and CEO of Central Bank of India, till July 31, 2025.
The Central Bureau of Investigation (CBI) has started probe into the multi-crore banking fraud in which a former Punjab National Bank (PNB) employee, M.P. Rijil, allegedly swindled ?21 crore from multiple bank accounts, including the eight accounts maintained by the Kozhikode Corporation. The case is being investigated by the Kochi unit of the CBI in compliance with an earlier order issued by the Kerala High Court. The case, which was initially investigated by the Kozhikode Town poli...
The Enforcement Directorate (ED) on Saturday arrested two promoters of a Chandigarh-based pharma company, who are also the co-founders of the Sonepat-based Ashoka University, and a chartered accountant in a money-laundering probe linked to an alleged bank fraud. Official sources said the central agency also continued with its searches against the group for the second day, including at the Ashoka University's corporate and registered offices in Delhi and campus in Sonepat. Parabolic Dru...
Comments