Page 10 - Idbi Bank
CBI books textile major S Kumars in Rs 1,245 crore loan fraud case
The CBI has booked textiles major S Kumars Nationwide Limited (SKNL) and 14 others including its promoters and directors for an alleged bank fraud worth Rs 1,245 crore, officials said Wednesday. Following registration of the FIR, the central agency on Wednesday searched 13 locations in Maharashtra, Gujarat and West Bengal linked to the accused and recovered "incriminating documents", CBI Spokesperson RC Joshi said. He said the company was engaged in the business of manufacturing high-value fine cotton fabrics and home textiles. The company had availed credit from a consortium of banks led by IDBI bank. Joshi said promoters/directors of the company were booked for allegedly "misusing/diverting the bank funds during the period 2012 to 2018" which resulted in loss of about Rs 1,245.15 crore to the banks. "The complaint was filed by the IDBI Bank Ltd. and also on behalf of four other member banks of the consortium, namely, Central Bank of India, The Jammu & Kashmir Bank Ltd., Punjab .
 "CBI books textile major S Kumars in Rs 1,245 crore loan fraud case")
PNB, IDBI Bank get govt-appointed directors on their boards
The government has nominated new directors on the boards of Punjab National Bank (PNB) and IDBI Bank, following the cessation of the terms of incumbent directors.
 "PNB, IDBI Bank get govt-appointed directors on their boards")
RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank
A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release
 "RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank")
CCI probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel
Indian regulations mandate that companies raising debt appoint a so-called 'debenture trustee' to protect the interests of investors.
 "CCI probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel")
IDBI Bank to sell balance stake in Life Insurance JV to Ageas
The board of directors has approved to sell IDBI Bank's entire stake of 200 million equity shares in AFLI to Ageas pursuant to exercise of Call Option by Ageas.
 "IDBI Bank to sell balance stake in Life Insurance JV to Ageas")
IDBI Bank plans to raise up to Rs 3,000 crore through AT1 bonds
The private sector lender will also raise up to Rs 1,000 crore via infrastructure bonds to fund projects and affordable housing.
 "IDBI Bank plans to raise up to Rs 3,000 crore through AT1 bonds")
IDBI Bank board okays rupee bond borrowing limit of Rs 8,000 cr for FY23
Stock of IDBI Bank closed 3.05 per cent down at Rs 42.85 apiece on BSE
 "IDBI Bank board okays rupee bond borrowing limit of Rs 8,000 cr for FY23")
IDBI Bank privatisation: Govt holding roadshows to gauge investor interest
The Cabinet Committee on Economic Affairs had in May last year given in-principle approval for strategic disinvestment and transfer of management control in IDBI Bank
 "IDBI Bank privatisation: Govt holding roadshows to gauge investor interest")
Govt plans to float EoI for its stake sale in IDBI Bank next month
Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021, and transaction advisors have been appointed
Rakesh Sharma reappointed as MD&CEO of IDBI Bank for a period of 3 years
Rakesh Sharma's reappointment as the MD&CEO of IDBI bank has received the banking regulator, Reserve Bank of India's (RBI) nod.
 "Rakesh Sharma reappointed as MD&CEO of IDBI Bank for a period of 3 years")
Special dispensation on voting rights not likely for IDBI Bank buyer
May be capped at 26%, irrespective of stake bought
IDBI Bank a strategic partner, don't want to exit it fully: LIC chairman
Kumar says investors need not worry about govt control post IPO
 "IDBI Bank a strategic partner, don't want to exit it fully: LIC chairman")
Govt to initiate investor outreach for IDBI Bank sale from Feb 25
The roadshows for the strategic disinvestment of IDBI Bank will be held virtually as investors are not keen on physical meetings due to pandemic fears.
Market wrap: Sensex ends choppy day 145 pts down, Nifty holds 17,300
Vedant Fashions makes decent debut, lists at 8% premium; Vijay Kedia-owned stock hits 10% upper circuit on order win; IDBI Bank gains 3% as govt set to begin investor outreach from Feb 25
 "Market wrap: Sensex ends choppy day 145 pts down, Nifty holds 17,300")
Top headlines: IDBI Bank privatisation on track; I-T searches on Huawei
Here are the top headlines on Wednesday
More capital support to IDBI Bank may have adverse impact on LIC: DRHP
LIC had infused Rs 4,743 crore into IDBI Bank on October 23, 2019 using policyholders' funds while the bank further raised Rs 1,435.1 crore in Dec. 2020 by way of a qualified institutional placement
 "More capital support to IDBI Bank may have adverse impact on LIC: DRHP")
LIC Housing or IDBI will stop home loan business by Nov 2023: LIC IPO DRHP
Housing finance will be conducted only by one entity, the insurer said, in the draft red herring prospectus (DRHP) for its initial public offering (IPO)
 "LIC Housing or IDBI will stop home loan business by Nov 2023: LIC IPO DRHP")
Top headlines: RIL Q3 results, IDBI Bank sale after LIC IPO, and more
Reliance Industries Ltd on Friday reported a consolidated net profit of Rs 18,549 crore in the quarter ended December 2021
 "Top headlines: RIL Q3 results, IDBI Bank sale after LIC IPO, and more")
IDBI Bank Q3 net profit jumps 53% to Rs 578 cr on robust NII growth
Net interest income up 30% YoY to Rs 2,2383 cr
Centre to get cracking on IDBI Bank sale once LIC IPO is launched
With LIC IPO being top priority, other plans take back seat
 "Centre to get cracking on IDBI Bank sale once LIC IPO is launched")
