Funds Misappropriation

CBI arrests 5 officials from RLDA, BoB for misappropriation Rs 31.50 cr

The CBI has arrested five people, including two retired officials of the Rail Land Development Authority (RLDA) and Bank of Baroda in connection with alleged misappropriation of Rs 31.50 crore, officials said Monday. The agency presented the arrested accused - RLDA's former manager Vivek Kumar, former branch manager of Bank of Baroda Jaswant Rai, and three private individuals Gopal Thakur, Hitesh Karelia and Nilesh Bhatt - before a special court, which remanded them to judicial custody, the officials said. The CBI had registered the case on a complaint by the RLDA alleging it had suffered a loss of Rs 31.50 crore by unidentified individuals. "It was alleged that the RLDA had initially invested an amount of Rs 35 crore (approx) for one year in the form of fixed deposit (FD) at Bank of Baroda, Vishwas Nagar branch, Shahdra, Delhi and thereafter the maturity proceeds were supposed to be re-invested, for a period of three months," a CBI spokesperson said. He said the bank allegedly ...

Chandrababu Naidu non-cooperative during questioning, claims AP police

The Crime Investigation Department which arrested TDP supremo N Chandrababu Naidu in the skill development corporation scam case has said the former Chief Minister was non-cooperative during questioning and replied vaguely saying he did not remember certain issues. Naidu was produced in an Anti-Corruption Bureau court in Vijayawada on Sunday morning amid tight security, a day after being arrested in a case of alleged corruption. Seeking his judicial custody, the remand report said though the officials arranged a chopper to take him to Vijayawada from Nandyal where he was arrested, the Leader of the Opposition refused. The convoy was obstructed several times by TDP cadres which is an indication of intimidating law enforcement officials by virtue of his position. "He was asked questions based on the note files, which form part of the evidence in this case diary. But to all the questions he was non-cooperative and replied vaguely that he could not recollect the facts. In this regard, t

EV maker Avon Cycles denies allegations over misappropriation of incentives

India's Avon Cycles Ltd has denied any wrongdoing in a scheme granting subsidies to vehicle manufacturers to boost the sale of electric vehicles (EV)

World Window India's ex-president arrested for misappropriating Rs 30 crore

A former president of World Window India Impex was arrested for allegedly misappropriating funds worth Rs 30 crore and cheating the company authorities, police said on Wednesday. Accused Ajay Khera worked as executive director of Central Warehousing Corporation and he took voluntary retirement to join as president at World Window India Impex -- a group company of Seagull Maritime Agencies, they said. A probe was initiated by the Economic Offences Wing of Delhi Police after the director of Seagull Maritime Agencies lodged a complaint against Khera, police said. The company deals in freight forwarding business in India. Ravindra Singh Yadav, Special Commissioner of Police (Crime), said, "In 2010, Seagull started a branch in the USA. The accused (ex-employee of Group Company) who was working with the company as legal consultant, requested the ex-promoters of Seagull to employ his son (Siddharth Khera) to look after the USA branch of Seagull. Accordingly, Siddharth Khera was appointed a

Vikrant funds case: BJP leader Kirit Somaiya, son seek pre-arrest bail

Earlier this week, a case was registered against them at Trombay police station in the city on the basis of a complaint lodged by a retired Army personnel

CBI registers cases filed by Canara Bank, SBI over Rs 8,000 cr fraud

The two cases were filed separately and involved private firms in Hyderabad and Chennai

Baba Ka Dhaba' owner accuses YouTuber of misappropriation of funds

Kanta Prasad, the owner of popular eatery Baba Ka Dhaba' in south Delhi's Malviya Nagar, has filed a complaint against Instagram influencer Gaurav Wasan for misappropriation of funds

Fresh FIR against Goan cricket association officials for funds misuse

The accused allegedly deposited Rs 1 cr in a fake bank account during 2006-07