abhay lodha topworth, sbi scam

CBI Registers Cases against 3 Mumbai Companies for Duping SBI of Rs 1.37 Billion

The CBI has registered three separate cases of banking fraud against three Mumbai-based companies for an alleged banking fraud that caused a cumulative loss of over Rs 1.37 billion to State Bank of India, officials said here today. One of the cases is against Topworth Pipes and Tubes Pvt. Ltd, its Directors Abhay Narendra Lodha, […]

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Topworth Group – Banks approach courts to recover debt

MUMBAI/KOLKATA: Additions to India’s bloated bad-loans inventory are unlikely to cease soon, with about a dozen lenders now approaching debt-recovery courts to recover a part of their estimated credit exposure of Rs 17,300 crore to Mumbai-based Topworth. Lenders led by the State Bank of India (SBI) and Punjab National Bank (PNBBSE -2.80 %) are filing […]

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Before he was moved out, Finance Secy wrote: Revenue dept helping scam-accused Jignesh Shah

Rajiv Mehrishi sent note to Jaitley on ‘blatant attempt’ to help Shah ‘at cost of investors he cheated’. In a scathing note to Union Finance Minister Arun Jaitley, four days before he demitted office as Finance Secretary, Rajiv Mehrishi, who is now Home Secretary, said the Department of Revenue had launched a “blatant attempt” to […]

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