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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The CBI today filed a chargesheet against former Madhya Pradesh minister Laxmikant Sharma, his OSD (Officer On Special Duty) and 93 others for alleged irregularities in the recruitment of contractual teachers through Vyapam in 2011, officials said. Besides Mr Sharma and his then OSD O P Shukla, the chargesheet, filed in a special court in […]
Continue ReadingMUMBAI/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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I remember standing for hours in the queue to withdraw my own cash, and then being told that I would not even get a tenth of what I had been promised. I remember coming away with dignity, saying that my sacrifice was for the greater long-term good of the nation. I did need the money […]
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