Bank fraud

CBI arrests 9 in bank fraud case involving Chennai Port Trust

In the complaint, it was also alleged that a loss to the tune of Rs 45.4 crore was caused to Indian Bank by way of foreclosing or pre-closing of several term deposits (fixed deposits) created in the name of the Chennai Port Trust (CPT) and also transferring or withdrawing the said amount through various accounts etc.

Covid and fraud

The report highlighted several areas of possible fraud that individuals and businesses need to be careful about ~ sales and distribution, covering artificial inflation of prices and sale of damaged, expired or counterfeit products; fake online sales; kickbacks to ensure procurement of products hit by lockdowns or import restrictions; cyber frauds due to increased remote working, and reduced focus on compliance that triggers contravention of laws.

Vijay Mallya extradition: The case so far

Vijay Mallya fled to London in March 2016. Almost a year later, India sent a request to the UK to extradite the "fugitive" liquor baron who owed nearly Rs 9,000 crore (including interest) to 17 Indian banks