CBI secures return of two fugitives from UAE through Interpol coordination, including a key accused in a multi-crore banking fraud involving diversion of funds via overseas entities.
A Bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice Vipul M. Pancholi said the seriousness of the allegations warranted a senior-level probe by the ED.
The Enforcement Directorate (ED) has attached a United Kingdom-based high-value property located near Buckingham Palace in a Rs 1,400 crore bank fraud case, the agency said on Wednesday.
A major case of bank fraud has surfaced at the State Bank branch at Nighasan in the Lakhimpur district of Uttar Pradesh, where accounts were allegedly opened using forged documents, leading to a misappropriation of around Rs 25 crore.
In separate BSE filings, the companies said, “There is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure [and Reliance Power] due to the recent action by CBI on RCFL, RHFL and Anil Ambani.”
The court awarded seven years rigorous imprisonment to Sarath Babu Jelly and Suhas Kalyan Ramdasi, then officials of Bank of Maharashtra, Secunderabad Branch and slapped a fine of Rs 1,10,000 each on them, the CBI said on Wednesday.
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.
The ED case of money laundering is based on the FIR registered by CBI against the Hyderabad-based company and its directors over an alleged bank fraud case to the tune of Rs 1,700 crore, on the complaint of the Punjab National Bank (PNB) in 2018.
CBI registered a case against Crompton Greaves Power and Industrial Solution Ltd for causing loss to the SBI led consortium banks worth Rs 2,435 crore
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.
