Shimla, March 11 (IANS) In a significant move to restore the proceeds of crime to the rightful claimants, the Directorate of Enforcement (ED) of Shimla has successfully restituted immovable properties valued at Rs 1.69 crore to the State Bank of India (victim bank) in the bank fraud case of M/s Arvind Casting Pvt. Ltd. Earlier, immovable properties valued at Rs 1.44 Crore had also been restituted to the Bank of India by the ED in the instant case. The ED, in a statement on Wednesday, said it…
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Ahmedabad, March 6 (IANS) The Enforcement Directorate (ED) has filed a prosecution complaint against M/s Anil Nutrients Ltd, its director Amol Sheth and six other accused persons in connection with an alleged money laundering case arising from a Rs 47.88 crore bank fraud involving Bank of India. The complaint was filed by the ED’s Ahmedabad Zonal Office as part of an investigation into the activities of Anil Nutrients Limited and related entities.Officials said the case is linked to an alleged…
Godda (Jharkhand), March 2 (IANS) In a daring bank robbery attempt in broad daylight, armed men stormed a branch of Bank of India in the Mahagama area of Jharkhand’s Godda district on Monday but their plans were foiled by timely action, officials said.The swift response of the bank staff and activation of security measures forced the criminals to flee, though a security guard sustained a gunshot injury during the incident.According to police, four armed men entered the bank branch located at K…
Mumbai, Feb 11 (IANS) The Directorate of Enforcement (ED), Mumbai, has provisionally attached assets worth approximately Rs 1.03 crore belonging to Hitesh Kumar Singla, a suspended officer of Bank of India, under the provisions of the Prevention of Money Laundering Act (PMLA), an agency statement said on Wednesday.The attachment also includes bank balances held in mule accounts allegedly used to siphon off proceeds of crime. The Provisional Attachment Order (PAO) was issued on February 9.The ED …
Shahdol, Jan 23 (IANS) Prime Minister Narendra Modi, on Friday, digitally inaugurated the loan and credit card distribution programme under the PM SVANidhi Scheme from Thiruvananthapuram, Kerala. Under this initiative, a programme was also organised at the Municipal Council premises in Madhya Pradesh’s Shahdol district.During the event, loan amounts were distributed to eligible beneficiaries of the scheme.Prime Minister Narendra Modi launched the loan amount and credit card distribution programm…
Shimla, Jan 8 (IANS) The Enforcement Directorate (ED), Shimla, has restituted proceeds of crime in the form of immovable properties valued at Rs 1.44 crore to the Bank of India in connection with a loan fraud case involving a private company, an official said on Thursday.In a statement, the ED said the restitution relates to a bank fraud case involving Arvind Casting, in which loans were allegedly obtained using forged documents and subsequently defaulted upon.The action was taken to restore the…
New Delhi, Dec 24 (IANS) The number of deals in the banking, financial services and insurance (BFSI) space rose threefold in CY 25, a report said on Wednesday.The report from financial services firm Equirus Capital said that the year saw 30 deals compared to 10 deals in 2024, with banks and non‑bank financial companies accounting for mergers, acquisitions and strategic deals worth Rs 42,939 crore.Other BFSI segments recorded deals worth Rs 43,014 crore, it added.The firm highlighted that NBFCs…
New Delhi, Dec 23 (IANS) Bank of India on Tuesday raised Rs 10,000 crore through the issuance of long-term infrastructure bonds at an interest rate of 7.23 per cent per annum.The fund-raising was carried out through the NSE Electronic Bidding Provider Platform.The base issue size was Rs 5,000 crore, with an additional green shoe option of Rs 5,000 crore.The issue received strong investor interest, with the bank getting 83 bids worth Rs 15,305 crore. Out of these, 37 bids amounting to Rs 10,000 c…