More than 100,000 fixed deposit (FD) holders, a large number of whom are retirees who invested their life savings, are expected to be impacted.
The MCA also conducted a physical inspection of the CG Power headquarters on August 30
Distressed assets investor Eight Capital Management has offered Rs 1,400 crore for the troubled Mumbai-based company
Bhushan Power & Steel defaulted on Rs 47,700 crore worth of loans in 2017 and was one of the 12 cases referred for resolution under Insolvency and Bankruptcy Code.
MD Abhishek Singh, his brother Harshvardhan Singh and CFO Paresh Thakkar were arrested after a raid on May 23.
In an attempt to make India a cashless economy, Prime Minister Narendra Modi has been promoting the use of digital payments after replacing high-value currency notes to crack down on the black market economy.
It further said trades of the entities are non-genuine as they are not executed in normal course of trading, lack basic trading rationale, lead to misleading appearance of trading in terms of generation of artificial volumes, and are hence deceptive & manipulative.
Frauds on mobile applications accounted for almost 85 percent of the total frauds from India. In 2017 alone, mobile advertisements robbed Indians of $350 million.
It is a reflection of the sad state of affairs in Indian public sector banking that the government/external agencies have to hand hold lenders to ensure that basic hygiene is followed when extending loans.
The money was reportedly transferred to 14 accounts through 28 transactions across the country
It’s advisable to review your monthly credit card and bank statements for any unauthorised and sham transactions.
The National Company Law Appellate Tribunal (NCLAT) has allowed one of the senior officials of IL&FS, S Rengarajan, to withdraw Rs 2 lakh per month.
Sakshi Batra does a 3 point analysis of the latest court verdict and what can be expected in India's bid to extradite Vijay Mallya.
Reddy came in a car to the Central Crime Branch office, along with his advocates, after releasing a video message from an unknown location, saying he would appear before it
When Viiking confronted him with the allegations, Asrani immediately put in his papers.
The controversy surrounding the appointment of Rakesh Asthana and how the probe into his misdemeanours is being thwarted, raises the question of whether the government exercises political discretion in selecting candidates who are pliant to their agenda.
The 62-year-old liquor baron’s claims of meeting Finance Minister Arun Jaitley before he left India two years ago has stirred a hornet’s nest
Under the RBI's revised guidelines, liability will be shared by banks and customers depending on the circumstances under which the fraud took place.
The scam-hit lender had posted a massive loss of Rs 13,417 crore in Q4 ending March 2018.
Minister of State for Corporate Affairs P P Chaudhary said in a written reply to the Rajya Sabha yesterday said that "SFIO receives various complaints against companies. Complaints have been received against Mehul Choksi, ICICI and L&T".
SWIFT was in limelight after it was used to conduct fraud worth Rs 11,000 crore (now risen to Rs 14,000 crore) at Punjab National Bank (PNB) unearthed on February 14 this year
Higher-than-expected deterioration in profitability in the short term, along with inability to shore up adequate capital, could further strain the standalone profile and attract a negative rating action
Provisions for the quarter trebled to Rs 16,202 crore, from Rs 5,753.3 crore in March quarter 2017.
The Enforcement Directorate registered a PMLA case against the company and its executives after taking cognisance of a CBI First Information Report (FIR) registered last month.
The state-run bank has already declared 1,084 wilful defaulters and has published photos of 260 such defaulters in newspapers.