State Bank of India approaches Madras HC; seeks quashing of ED proceedings attaching property of Kanishk Gold
State Bank of India submitted that by effecting the provisional attachment order, the ED had scuttled the frantic efforts of the Banks from realising public money.
Kanishk Gold fraud: Enforcement Directorate attaches Rs 138 cr assets of Chennai firm, its MD in money laundering case
ED said it has attached immovable properties, worth Rs 138 crore, belonging to Kanishk Gold Pvt Ltd and its Managing Director Bhoopesh Kumar Jain
Corporate Affairs Ministry orders SFIO to probe Ruchi Soya, Sterling Biotech, Kanishk Gold for financial irregularities
The SFIO, which also has powers to arrest people, mainly investigates violations under the Companies Act.
Time has come to stop handling auditors, both at the lenders’ end and at the borrowers’ end, with kid gloves.
It has been reported that the companies falsify the figures on cash flow projections in order to get new loans from banks.
Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report
Chennai-based Kanish Gold has a registered office in T Nagar in and is owned by promoters and directors Bhoopesh Kumar Jain and his wife Neeta Jain, says report