Markets seen in range, US stimulus deal likely to lift sentiment; DHFL in focus
On Friday, the BSE Sensex ended at 46,960.69, up 70.35 points or 0.15%. The Nifty closed at 13,760.55, up 19.85 points or 0.14%.
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MUMBAI: Indian equities may see a lower start on Monday as trends in SGX Nifty indicate a weak opening. On Friday, the BSE Sensex ended at 46,960.69, up 70.35 points or 0.15%. The Nifty closed at 13,760.55, up 19.85 points or 0.14%.
Asian stocks traded sideways in Asia on Monday as investors gave a cautious welcome to news a deal had been struck on a long-awaited US stimulus bill, though “difficult Brexit talks dragged on with no agreement in sight.
The Story Behind the Rs 7,926 Crore Fraud at Transstroy - Investing com India investing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investing.com Daily Mail and Mail on Sunday newspapers.
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The Central Bureau of Investigation (CBI) has booked Transstroy (India) Ltd, a Hyderabad-based company along with its directors for an alleged bank fraud of more than Rs 7,926 crore. The loans were disbursed by a consortium of lenders led by Canara Bank.
The central investigating agency lodged a case after receiving a complaint by an official of the Union Bank of India. The investigating officials have claimed that this is the biggest banking scam in the country to date even surpassing the amount siphoned off by diamantaire Nirav Modi.
Updated Dec 19, 2020 | 13:53 IST
Nirav Modi owes Rs 7,700 crore to India s banks. The Hyderabad company committed a fraud of Rs 7,926 crore. Amount bigger than Nirav Modi s cheated by Hyderabad company from banks | Photo Credit: PTI
Hyderabad: A Hyderabad company has been accused of a loan fraud by the CBI. They have filed a case against Transstroy India Ltd for cheating multiple banks of almost Rs 8,000 crore, according to officials.
The amount involved in the fraud is higher than what the infamous Nirav Modi owes to banks in the country, according to people who know about the ensuing developments. Nirav Modi is facing extradition charges and is lodged in a UK jail.
CBI raids several locations in 2 separate bank fraud cases worth Rs 8,200 cr
Sat, Dec 19 2020 08:14:09 AM
New Delhi, Dec 19 (IANS): The Central Bureau of Investigation (CBI) has filed cases against a Hyderabad-based company, Transstroy (India) Ltd, for allegedly cheating a consortium of banks of Rs 7,926 crore, and against a Chennai based company for cheating the bank to the tune of Rs 313.79 crore, officials said on Friday.
According to officials, fugitive diamantaire Nirav Modi, who is currently lodged in a UK jail and is facing extradition charges, is wanted in the Punjab National Bank fraud case for cheating the bank to the tune of Rs 7,700 crore.