Lucknow, July 25 (IANS) The Enforcement Directorate (ED) has carried out search operations at ten premises located in Delhi, Uttar Pradesh and Punjab in connection with an alleged bank loan diversion and money-laundering case involving M/s Santosh Overseas Ltd (SOL), officials said on Saturday. The searches were conducted by the Lucknow Zonal Office under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, at premises linked to the company’s promoters, associated companies, facili…
Latest IDBI Bank News & Updates
New Delhi, July 10 (IANS) Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) and financial institutions on Monday to review the progress of foreign currency deposit mobilisation and overseas borrowing initiatives aimed at strengthening external capital inflows, as per sources.The meeting comes after the Reserve Bank of India (RBI) last month announced a series of measures to encourage banks to mobilise foreign currency deposits from Non-Resident Indians …
Amreli/Surat, July 9 (IANS) The Surat City Cyber Crime Cell on Thursday arrested a 29-year-old software engineer in connection with an alleged online investment fraud in which a complainant was cheated of over Rs 72.73 lakh after being lured with promises of high returns from cryptocurrency trading.Police said the accused, identified as Divyesh Patel, was traced and arrested following a technical investigation into the case.He is employed at a software company, holds a B.Tech degree in Electrica…
Jaipur, July 7 (IANS) The Enforcement Directorate (ED) has provisionally attached movable and immovable assets worth around Rs 112.90 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with an alleged Rs 376 crore bank fraud involving M/s LEEL Electricals Limited (formerly Lloyd Electric and Engineering Limited), its main promoter Bharat Raj Punj, and others. According to the ED’s Jaipur Zonal Office, the attached properties include land, industrial …
New Delhi, June 26 (IANS) The Central Bureau of Investigation (CBI) on Friday arrested a manager of the Punjab National Bank’s Bhadrauli Branch in Agra’s Barhan, Uttar Pradesh, in connection with an alleged bribery case. According to the CBI, the case was registered on June 25, based on a complaint filed by an employee of a private company. It was alleged that the bank manager demanded illegal gratification of Rs 7,000 per loan file to process and clear around 19 solar panel loan applications.Th…
New Delhi, June 25 (IANS) The Central Bureau of Investigation (CBI) held a coordination meeting with the Department of Financial Services (DFS) and Chief Vigilance Officers of public sector banks, IDBI Bank and Life Insurance Corporation of India here on Thursday on measures to expedite investigations into bank fraud cases, according to an official statement. The meeting was attended by the Department of Financial Services Secretary Sanjay Lohiya, the CBI Additional Directors A.Y.V. Krishna and …
New Delhi, June 22 (IANS) The government on Monday trashed reports that it was planning an offer for sale of shares in Cochin Shipyard Ltd as part of the disinvestment programme. “No stake sale is planned in Cochin Shipyard at present,” a Finance Ministry official said, The clarification came after media reports, citing sources, said the Centre was considering an offer for sale (OFS) of a 6 per cent to 8 per cent stake in Cochin Shipyard. The reports said the transaction could raise more than Rs…
Bengaluru, June 12 (IANS) The National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Congress MLC Naseer Ahmed bankrupt in connection with the default of loans amounting to Rs 1,454.71 crore owed by Bengaluru-based M/s Scotts Garments Limited, for which he had stood as a personal guarantor.The order has cast uncertainty over Ahmed’s continuation as a member of the Karnataka Legislative Council, with legal experts indicating that the bankruptcy declaration could attract disqualificat…
Guwahati, April 30 (IANS) The Directorate of Enforcement, Guwahati Zonal Office, has filed a Prosecution Complaint before the Special Court (Prevention of Money Laundering Act), Kamrup (Metro), Guwahati, in connection with an alleged bank fraud involving IDBI Bank and wrongful losses amounting to Rs 8.62 crore, officials said on Thursday. According to an official statement, the complaint has been filed under provisions of the Prevention of Money Laundering Act, 2002, against M/s Ottis Associa…
Mumbai, April 30 (IANS) IDBI Bank on Thursday reported a 5 per cent decline on its net profit for the fourth quarter ended March 31 (Q4 FY26) to Rs 1,943 crore.The bank clocked a net profit of Rs 2,051 crore in the corresponding quarter of the previous financial year (Q4 FY25), according to its stock exchange filing.It reported 11.7 per cent year-on-year (YoY) jump in its net interest income to Rs 7,798 crore in Q4 FY26, compared to Rs 6,978 crore in year-ago period.However, operating performanc…