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Daily Bulletin: SC to hear PIL seeking interim protection for customers in PMC Bank scam today; ED summons Praful Patel for probe in money laundering case; day's top stories
India

Daily Bulletin: SC to hear PIL seeking interim protection for customers in PMC Bank scam today; ED summons Praful Patel for probe in money laundering case; day's top stories

Here are today's top stories: PMC bank scam: SC to hear PIL seeking interim protection for customers today; Pakistan to remain on FATF 'Grey List' till February 2020; formal announcement to be made today; and more

PMC Bank scam: Former managing director Joy Thomas remanded to jail, ex-director S Surjit Singh Arora sent to police custody
Business

PMC Bank scam: Former managing director Joy Thomas remanded to jail, ex-director S Surjit Singh Arora sent to police custody

On Wednesday, former director of PMC bank Arora was arrested by the Economic Offences Wing of the Mumbai Police in connection with the scam.

Waryam Singh, former chairman of PMC Bank purchased hotel in Punjab, Rs 2,500 cr property in Mumbai allegedly using lender's money
Business

Waryam Singh, former chairman of PMC Bank purchased hotel in Punjab, Rs 2,500 cr property in Mumbai allegedly using lender's money

Waryam Singh, former chairman, PMC Bank made a lot of high-value investments from the alleged Rs 4,355-crore fraud

PMC Bank scam: EOW summons former director for interrogation, seeks details on lender's loan disbursement process
Business

PMC Bank scam: EOW summons former director for interrogation, seeks details on lender's loan disbursement process

Arora was a director of the PMC Bank and was also on its loan committee, an official said.

PMC Bank scam: HDIL promoters' Wadhawans, former chairman Waryam Singh remanded to judicial custody till 23 October
Business

PMC Bank scam: HDIL promoters' Wadhawans, former chairman Waryam Singh remanded to judicial custody till 23 October

According to the FIR registered by the EOW of the Mumbai Police, HDIL group promoters allegedly colluded with PMC Bank management to take loans from its Bhandup branch in Mumbai.

Three account holders of scam-hit PMC bank die within two days; Shiv Sena urges RBI governor to allow merger of bank
Business

Three account holders of scam-hit PMC bank die within two days; Shiv Sena urges RBI governor to allow merger of bank

A depositor of scam-hit PMC Bank allegedly committed suicide at her residence in Mumbai's Versova, while two more people died of a heart attack a few hours after taking part in a protest by bank customers seeking their money back

PMC scam: Central bank employees union wants cooperative banks under full control of RBI
Business

PMC scam: Central bank employees union wants cooperative banks under full control of RBI

In the wake of the scam at Punjab & Maharashtra Cooperative (PMC) Bank, the All-India Reserve Bank Employees Association on Wednesday suggested ending the dual jurisdiction of urban cooperatives and bringing them under RBI jurisdiction

Religare Finvest fraud case: Delhi court extends police custody of Singh brothers, Sunil Godhwani by two days
Business

Religare Finvest fraud case: Delhi court extends police custody of Singh brothers, Sunil Godhwani by two days

Besides the Singh brothers, the court extended by two days the police custody of Sunil Godhwani, another accused in the Religare fraud case.

PMC Bank scam: RBI increases withdrawal limit to Rs 40,000 per account; 77% of depositors covered
Business

PMC Bank scam: RBI increases withdrawal limit to Rs 40,000 per account; 77% of depositors covered

The Reserve Bank on Monday increased the withdrawal limits for depositors of the scam-hit Punjab & Maharashtra Cooperative Bank to Rs 40,000 from Rs 25,000 per account over the next six months

PMC Bank case: ED attaches HDIL promoter's 5-acre bungalow near Mumbai in money laundering probe
Business

PMC Bank case: ED attaches HDIL promoter's 5-acre bungalow near Mumbai in money laundering probe

A private business jet, Dassault Falcon 200 owned by accused Rakesh Wadhawan of HDIL was earlier seized by the ED

PMC Bank scam: Finance Minister Nirmala Sitharaman faces protesters; promises legislation
Business

PMC Bank scam: Finance Minister Nirmala Sitharaman faces protesters; promises legislation

Finance Minister Nirmala Sitharaman on Thursday faced irate depositors of Punjab and Maharashtra Co-operative (PMC) Bank, and promised to bring in legislative changes for upholding of their interests

Lakshmi Vilas Bank-Indiabulls Housing Finance proposed merger gets a clear No from Mint Road
Business

Lakshmi Vilas Bank-Indiabulls Housing Finance proposed merger gets a clear No from Mint Road

The application for the merger of Lakshmi Vilas Bank and India Bulls Housing Finance was made in May after both the parties agreed to the merger in April.

PMC Bank scam: Police custody of former chairman Waryam Singh, Wadhawans of HDIL extended till 14 October
Business

PMC Bank scam: Police custody of former chairman Waryam Singh, Wadhawans of HDIL extended till 14 October

A court on Wednesday extended till October 14 the police custody of a former chairman of the Punjab and Maharashtra Cooperative (PMC) Bank and two directors of HDIL, arrested in connection with the alleged Rs 4,355 crore scam at the bank

PMC Bank scam: Shares of HDIL hit lower circuit, fall 4.73% on reports of EOW to include auditors in probe
Business

PMC Bank scam: Shares of HDIL hit lower circuit, fall 4.73% on reports of EOW to include auditors in probe

Shares of HDIL extended its losses on Wednesday as it fell nearly 5 percent and hit its lower circuit limit after reports that Mumbai Police's Economic Offences Wing may include the auditors of the bankrupt company in the ongoing probe of PMC Bank scam

PMC Bank scam: Former managing director Joy Thomas sent to police custody till 17 October
Business

PMC Bank scam: Former managing director Joy Thomas sent to police custody till 17 October

The police told the court that they need his custody to interrogate him as he was part of the conspiracy. However, Joy Thomas's lawyer argued that he is being made a "scapegoat".

PMC Bank scam: Economic offences wing arrests former MD Joy Thomas in connection with alleged Rs 4,355 cr scam
Business

PMC Bank scam: Economic offences wing arrests former MD Joy Thomas in connection with alleged Rs 4,355 cr scam

The Mumbai Police arrested Punjab Maharashtra Co-operative Bank's former managing director Joy Thomas on Friday

PMC Bank scam: HDIL's Rakesh Wadhawan, son Sarang sent to police custody till 9 October
Business

PMC Bank scam: HDIL's Rakesh Wadhawan, son Sarang sent to police custody till 9 October

HDIL chairman and managing director Rakesh Wadhawan and his son Sarang were on Friday sent to police custody till October 9 in the Punjab Maharashtra Cooperative (PMC) Bank scam, an official said

PMC Bank crisis: After arrest of HDIL promoters, ED raids 6 Mumbai locations, slap money laundering charge
Business

PMC Bank crisis: After arrest of HDIL promoters, ED raids 6 Mumbai locations, slap money laundering charge

The ED on Friday raided six locations in Mumbai and adjoining areas and registered a money laundering case to probe alleged fraud in the Punjab and Maharashtra Cooperative (PMC) Bank case, officials said

PMC scam: Reserve Bank of India increases withdrawal limit for depositors to Rs 25,000 per account
Business

PMC scam: Reserve Bank of India increases withdrawal limit for depositors to Rs 25,000 per account

RBI on Thursday increased the withdrawal limits for depositors of the scam-hit Punjab & Maharashtra Cooperative Bank to Rs 25,000