The accused named in the FIR have been identified as M/s Pratibha Industries Limited, Mumbai; Ajit Bhagwan Kulkarni, Ravi Kulkarni, Sunanda Datta Kulkarni, Sharad Prabhakar Deshpande, alll are director and guarantors in the company.
The court awarded seven years rigorous imprisonment to Sarath Babu Jelly and Suhas Kalyan Ramdasi, then officials of Bank of Maharashtra, Secunderabad Branch and slapped a fine of Rs 1,10,000 each on them, the CBI said on Wednesday.
In the complaint, it was also alleged that a loss to the tune of Rs 45.4 crore was caused to Indian Bank by way of foreclosing or pre-closing of several term deposits (fixed deposits) created in the name of the Chennai Port Trust (CPT) and also transferring or withdrawing the said amount through various accounts etc.
The ED case of money laundering is based on the FIR registered by CBI against the Hyderabad-based company and its directors over an alleged bank fraud case to the tune of Rs 1,700 crore, on the complaint of the Punjab National Bank (PNB) in 2018.
CBI registered a case against Crompton Greaves Power and Industrial Solution Ltd for causing loss to the SBI led consortium banks worth Rs 2,435 crore
On bail since April 2017, the former Kingfisher Airlines boss has contested his extradition on the grounds that the case against him is "politically motivated" and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat
Several ATMs located in the city continue to remain unmanned despite the recent bank fraud that saw at least Rs…
This comes in the wake of the city police contending that they have enough clues to believe that the fraudsters had inserted skimming devices in ATM machines to clone debit cards and facilitate the fraudulent withdrawal of money.
The official said the total amount involved in the fraud was more than Rs 9 lakh at a branch here but promised that the bank will refund the lost amounts of the affected customers within a week.
Modi has been traced to Belgium and it has been learnt that of the six passports he held, two were active for quite some time
