They have now been remanded to ED custody, the agency said in a statementThe case pertains to the accused fraudulently availing loans from a consortium of banks and subsequent default of loans to the tune of ₹1,768 crore
1 min read15 Jan 2020ED informs the court that it wants to approach Interpol for issuance of Red Corner Notice against Sterling Biotech Ltd directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel
2 min read24 Dec 2018The problem of non-performing assets requires more than synergy gains from mergers as in the case of Dena Bank
4 min read26 Sep 2018If suggestions are accepted, it will be a step towards ensuring large borrowers are held accountable for defaulting loans
2 min read7 Aug 2018ED has accused Sterling Biotech of taking loans of over 5,000 crore from a consortium of banks led by Andhra Bank, which have turned into non-performing assets
1 min read18 Jul 2018Most instances of fraud are being detected at the prompt of whistle-blowers and new managements
3 min read18 Jul 2018PNB needs to pay about Rs135 crore to cover the 8.98% annual interest on ₹1,500 crore worth of so-called AT1 bonds sold in July 2017
1 min read17 Jul 2018RBI's financial stability report (FSR) says the banking system reported 6,500 frauds, amounting to more than 30,000 crore
1 min read27 Jun 2018Searches are on at 50 places across 10 locations in India including Delhi, Mumbai and Faridabad
2 min read26 Apr 2018Additional sessions judge Ajay Pandey extended the custody of former Andhra Bank director Anup Prakash Garg till 22 May after he was produced before the court
2 min read18 Apr 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared