Businessman Mistry's Daughter Loses Rs 90,000 in Bank Fraud; Case Registered

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An unidentified person fraudulently withdrew Rs 90,000 from the bank account of 62-year-old daughter of billionaire businessman Pallonji Shapoorji Mistry, a police official said on Tuesday. An offence has been registered in connection with the cyber fraud at the Colaba Police Station in South Mumbai, he said. The incident came to light in July … Read more Businessman Mistry's Daughter Loses Rs 90,000 in Bank Fraud; Case Registered

Dairy Maker Kwality Charged By CBI With Rs 1,400 Crore Bank Loan Fraud

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The CBI had started its investigations on a complaint by Bank of India New Delhi: Kwality Limited, one of the country’s most popular dairy product makers, has been charged with cheating a group of banks of Rs 1,400 crore in a case of fraud filed by the CBI. The investigating agency filed the case after … Read more Dairy Maker Kwality Charged By CBI With Rs 1,400 Crore Bank Loan Fraud

CBI Searches 8 Locations of Dairy Products Firm Kwality Ltd Over Rs 1,400-cr Bank Fraud

File photo of CBI headquarters in New Delhi. (PTI)

File photo of CBI headquarters in New Delhi. (PTI) The CBI has registered the case against Kwality Ltd and its directors Sanjay Dhingra, Siddhant Gupta, Arun Srivastava besides other unidentified persons, they said. PTI Last Updated: September 21, 2020, 9:20 PM IST FOLLOW US ON: The CBI Monday … Read more CBI Searches 8 Locations of Dairy Products Firm Kwality Ltd Over Rs 1,400-cr Bank Fraud

Founder Of Truck Maker Nikola Resigns After Fraud Allegations

Founder Of Truck Maker Nikola Resigns After Fraud Allegations

The Phoenix-based company said in a statement that it had accepted Trevor Milton’s resignation. Washington, United States: The founder and executive chairman of embattled zero-emission truck maker Nikola has resigned, the company announced Sunday, after allegations of fraud which sparked a stock tumble and a regulatory investigation. The Phoenix-based company said in a statement that … Read more Founder Of Truck Maker Nikola Resigns After Fraud Allegations

Over Rs 45 Crore Assets Seized In Co-operative Bank Fraud In Karnataka

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The total value of the attached assets is Rs 45.32 crore, ED said (Representational) New Delhi: Assets worth more than Rs 45 crore have been attached under the anti-money laundering law in connection with a cooperative bank fraud in Karnataka, the Enforcement Directorate (ED) said on Friday. The central probe agency said it issued a … Read more Over Rs 45 Crore Assets Seized In Co-operative Bank Fraud In Karnataka

SBI Introduces OTP Authentication for Withdrawal of Rs 10,000 or More from ATM

A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/Files

A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata. (Reuters) Whenever an SBI account-holder has to withdraw Rs 10,000 and above, will have to ensure that they are carrying their mobile phone. This additional factor of authentication has been introduced in order to reduce the chances of … Read more SBI Introduces OTP Authentication for Withdrawal of Rs 10,000 or More from ATM

PMC Bank, Hit By Fraud, Seeks Merger With Other Banks: Report

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Fraud-hit PMC Bank has approached other banks over a possible merger even as its efforts to recover funds from a big borrower have been disrupted by the coronavirus pandemic, the bank’s administrator said in a court filing seen by Reuters. Authorities started investigating Punjab and Maharashtra Co-operative Bank (PMC) for fraud last year and the … Read more PMC Bank, Hit By Fraud, Seeks Merger With Other Banks: Report

Fraud-hit PMC Banks Approaches Banks Over Possible Merger, Reveals Report

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India’s fraud-hit PMC Bank has approached other banks over a possible merger even as its efforts to recover funds from a big borrower have been disrupted by the coronavirus pandemic, the bank’s administrator said in a court filing seen by Reuters. Authorities started investigating Punjab and Maharashtra Co-operative Bank (PMC) for fraud last year … Read more Fraud-hit PMC Banks Approaches Banks Over Possible Merger, Reveals Report

BCCI To Use Fraud Detection Services To Prevent Corruption In IPL: Report

The Board of Control for Cricket in India (BCCI)┬áhas tied up with UK-based company Sportradar, which will offer its “integrity services” to prevent betting and other corrupt practices during the upcoming Indian Premier League (IPL) through its Fraud Detection Services (FDS). With the 13th Indian Premier League being held behind closed doors, the … Read more BCCI To Use Fraud Detection Services To Prevent Corruption In IPL: Report

Indian-American Pleads Guilty In USD 17-Million Bank Fraud

Indian-American Pleads Guilty In USD 17-Million Bank Fraud

Rajendra Kankariya faces a maximum penalty of 30 years in prison and a fine of USD 1 million. Washington: An Indian-American president of a now-defunct New Jersey-based marble and granite wholesaler has admitted his role in scheming to defraud a bank in connection with a USD 17 million secured line of credit, a US Attorney … Read more Indian-American Pleads Guilty In USD 17-Million Bank Fraud