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CBI Names Nimbus Group, Its Directors In Rs 75 Crore Bank Fraud Case

Nimbus Communications Ltd and its three Directors - Harish K Thawani, Shoba Harish Thawani and Akash Chandra Khurana - have been named in a chargesheet by the CBI for allegedly defrauding Indian Overseas Bank of over Rs 75 crore. ....

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Dues Stuck, Noida Plans Escrow A/cs For 59 Developers, Real Estate News, ET RealEstate

Officials said many of the developers who defaulted on the payments were found to have diverted funds to other projects. But when an escrow account is opened, the developer concerned is bound to deposit 50% of the funds collected from homebuyers and other sources. ....

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