Tag: central bank of india

Housing FinanceLatest Stories

Mumbai: Ex-bank manager, 9 others found guilty in 2004 fraud

MUMBAI: A special CBI court convicted a retired bank manager and nine others in a loan fraud case from 2004 on Tuesday, sentencing them to prison terms ranging from one to five years. The masterminds, Kashinath and Ganesh Pandurang Jadhav, received five years in prison, while former bank official Metha Sastry was given a one-year sentence under the Prevention of Corruption Act. Sastry, the senior manager at the Central Bank’s Prabhadevi branch in Mumbai, neglected essential pre- and post-sanction inspections. The court noted that these checks would have revealed the fraudulent nature of the buyers and their documents. Charges against…

Latest StoriesRegulatory

SC appoints ex-IB chief to probe Supertech insolvency case

Sure! Here’s a rewritten version of the content: The Supreme Court on Friday requested the insights of former Intelligence Bureau director and former National Human Rights Commission member Rajiv Jain regarding the insolvency proceedings of Supertech Realtors. This request follows a recent CBI report that accuses suspended director Ram Kishore Arora of misappropriating homebuyers’ funds in 21 projects. A Bench led by Justice Suryakant decided against staying the NCLAT’s August 13 ruling upholding the insolvency proceedings against Supertech Realtors. The Bench noted that every project associated with Arora is under investigation due to allegations of siphoning off significant amounts of…