Category Archives: CBI

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Rotomac Bank Fraud Bloats to Rs 3,695 Crore From Earlier Estimate of Rs 800 Crore

Rotomac Bank Fraud Bloats to Rs 3,695 Crore From Earlier Estimate of Rs 800 CroreThe CBI has registered a case against Rotomac Pens promoter Vikram Kothari and his family in connection with a case relating to the alleged swindling of Rs 3,695 crore of bank loan funds. Credit: Twitter New Delhi: The Central Bureau of Investigation… Read More »

PNB Will Need to Own Responsibility for ‘Bonafide Transactions’: Finance Ministry

PNB Will Need to Own Responsibility for ‘Bonafide Transactions’: Finance MinistryMorgan Stanley estimated if PNB had to assume all the liability from the fraud, it would need to dilute 14% of its capital at the stock’s current valuation. A Central Bureau of Investigation (CBI) official looks out from a closed door of a Punjab National… Read More »

CBI Court to Rule on Discharge of Former Gujarat DGP, IB Men in Ishrat Jahan Case

CBI Court to Rule on Discharge of Former Gujarat DGP, IB Men in Ishrat Jahan CaseP.P. Pandey’s earlier attempts to have the FIR against him quashed were rejected by the Gujarat high court. A file photo of Ishrat Jahan New Delhi: A special CBI court will rule on Friday (February 16) on the discharge petition filed… Read More »

Sohrabuddin Trial: Truth the Casualty in Face-Off Between Powerful Accused, Helpless Witnesses

Sohrabuddin Trial: Truth the Casualty in Face-Off Between Powerful Accused, Helpless WitnessesThe absence of any effort by the CBI to protect and reassure their witnesses is leading to the mass retraction of earlier statements made before a magistrate that had incriminated the accused. Sohrabuddin Sheikh and his wife Kauser-bi. Mumbai: On February 11, Justice Revati… Read More »

Explained: Punjab National Bank’s $1.8 Billion Fraud

Explained: Punjab National Bank’s $1.8 Billion FraudThe latest scam uses an age-old method employed to defraud the banking system. In what may turn out to be one of the biggest scams in the country’s corporate history, Delhi-based Punjab National Bank (PNB) said on Wednesday it had been defrauded of about Rs 114 billion by jeweller… Read More »

Punjab National Bank Detects $1.77 Billion Worth of Fraudulent Transactions

Punjab National Bank Detects $1.77 Billion Worth of Fraudulent TransactionsThe latest disclosure comes a week after the CBI said they had launched an investigation into billionaire jeweller Nirav Modi over accusations that he had defrauded the bank of $44 million. Credit: Reuters Mumbai: State-run Punjab National Bank (PNB) said on Wednesday it had detected some… Read More »

The Curious Saga of How the Chief Justice of India Handled Two Medical College Cases

The Curious Saga of How the Chief Justice of India Handled Two Medical College CasesThe manner in which two medical colleges with similar case trajectories were dealt with raises serious questions about the propriety of the judicial and administrative orders in both these instances. Supreme Court of India. Credit: Shome Basu It has been reported… Read More »