Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
'It seems to be a bit of an aberration. It should be set right; there is a proper mechanism in place. In the normal course, the state police do not have any jurisdiction on central government employees,' the official said.
Senior Maharashtra Indian Police Service officer Sunil Paraskar, accused of raping and molesting a model-turned-actress, has declined to undergo a polygraph test while the victim expressed readiness to face the scientific examination.
Whistle-blowers allege the brothers violated court orders by selling assets like art and real estate worth crores bought by funds from their companies.
PNB has rich experience in the integration of commercial banks.
The FMC on Thursday barred the National Spot Exchange and group firms from auctions of commodities held by the bourse after a complaint that firms related to the former managing director took part in the bidding process.
The ruling Aam Aadmi Party accused the central dispensation of keeping the party ministers and MLAs in controversy to ensure that the work done by the Delhi government was not highlighted among the people.
Analysts say that PMC Bank case is only going to make matters worse for HDIL and the Wadhawans.
Having registered an FIR over the controversial interview of one of the December 16 gang rape convicts, Delhi Police on Wednesday said it will probe as to why the contents of the work were not shown to the relevant authorities.
In the interview to Business Standard last week, Chary had stated that the government's proposal to merge was unwarranted and that FTIL shareholders did not benefit from higher dividends from NSEL.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
The bench expressed displeasure over the trend of filing of sedition cases just after senior advocate F S Nariman made opening submissions on behalf of Singh, saying 'the gentleman has served as the Additional Director General of Police (ADGP) and was acting as the Director of the Police Academy and now the proceedings under section 124A (sedition) of the IPC have been initiated against him'.
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Quoting the FIR registered on the basis of a complaint, the Economic Offences Wing of Mumbai said accused Nailesh Mehta of Dev Developers in Andheri pretended himself as the partner of Zoomi Construction Company by preparing fake documents and acquired the latter's rightful TDR from the Slum Rehabilitation Authority.
1980-batch IPS officer Sulkan Singh, who was DG-Training, will replace Ahmed, a 1984-batch IPS officer, who has been shifted as the DG of Uttar Pradesh Provincial Armed Constabulary, a senior home department official said.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
Jignesh Shah, the promoter of National Spot Exchange Ltd (NSEL), and its former CEO Anjani Sinha on Friday traded charges in connection with the multi-crore payment crisis at the crippled bourse which has affected over 13,000 investors.
A local court remanded Indrani and her driver Shyam Rai to judicial custody for two weeks while the other accused Sanjay Khanna was taken to Kolkata for being produced in a court there.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
About Rs 5,600 crore (Rs 56 billion) of investments of some 13,000 investors are stuck in NSEL. Despite reports from several internal committees of regulators and investigative agencies pointing to fraudulent activities, there hasn't been any substantial enforcement action against the exchange or the officials.
Congress MP Shashi Tharoor was questioned by the Special Investigation Team on Thursday for the second time in the last four weeks on the Indian Premier League controversy as also various aspects leading to the mysterious death of his wife Sunanda Pushkar.
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
Baghel led from the front to take on the BJP, led by Raman Singh, after being entrusted the task to revive the Congress' fortunes in Chhattisgarh following the third consecutive defeat in the 2013 assembly polls.
Last month, the bank was placed under Prompt Corrective Action due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
Keeping in mind the bitter backdrop in which the two Sena factions are likely to come face-to-face with each other on October 5, the Mumbai police, along with the Maharashtra administration, are leaving nothing to chance.
Shashi Tharoor on Friday appeared for the third time in two days before the SIT.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
The Central Bureau of Investigation has sought posting of its officers in some of the Indian missions abroad besides cutting down of red-tape involved in sending Letters Rogatory (LR) as measures to expedite cases related to black money.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
A more informed electorate, rather than the Lokpal, can fight corruption better, argues Neeta Kolhatkar.
The SC bench directed the court-appointed forensic auditors to complete their detailed investigation on divergence of home buyers money by Amrapali group before March 22 and list the matter for hearing on March 24.
'It is just that they are not in the limelight in a city like Mumbai.' 'It is not a lonely journey, but a tough journey for sure.'
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
Thousands of homeowners across housing projects owned by Jaypee Infratech and the Amrapali Group are running out of options. Jaypee Infratech and Amrapali are among the 12 big corporate loan defaulters against which the RBI has ordered initiation of insolvency proceedings.
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
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