Loan Fraud News

News

Bank loan fraud: ED arrests 2 from Hyderabad in ₹1,768 crore case

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 2020
Politics

₹8,100 crore loan fraud: ED moves court for open-ended NBWs against Sterling Biotech owners

ED 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 2018
Opinion

Opinion | Reckless lending rewarded with merger

The problem of non-performing assets requires more than synergy gains from mergers as in the case of Dena Bank

4 min read26 Sep 2018
Politics

Govt panel suggests amending Passport Act to prevent borrowers from fleeing country

If suggestions are accepted, it will be a step towards ensuring large borrowers are held accountable for defaulting loans

2 min read7 Aug 2018
Companies

ED chargesheet against Sterling Biotech director in bank loan fraud case

ED 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 2018
Opinion

Who’s going to stop fraud in Indian companies?

Most instances of fraud are being detected at the prompt of whistle-blowers and new managements

3 min read18 Jul 2018
Industry

PNB to receive ₹2,000 crore capital infusion next week

PNB 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 2018
Industry

RBI says 85% of FY18 frauds at govt banks

RBI's financial stability report (FSR) says the banking system reported 6,500 frauds, amounting to more than 30,000 crore

1 min read27 Jun 2018
Industry

CBI files Rs600 crore fraud case against Sivasankaran firms

Searches are on at 50 places across 10 locations in India including Delhi, Mumbai and Faridabad

2 min read26 Apr 2018
Politics

Ex-Andhra Bank official’s custody extended in loan fraud case

Additional 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 2018
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The 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

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