S.
DATE OF ORDER
ENTITY
PERSON
COMPETENT AUTHORITY
REGULATORY CHARGES
REGULATORY ACTION(S) / DATE OF ORDER
FURTHER DEVELOPMENTS
21
26-FEB-2024
BANK OF BARODA
RAMCHANDRA SHRIDHAR JOSHI
CBI
ENTERED INTO CRIMINAL CONSPIRACY WITH PRIVATE PERSONS TO CHEAT BANK OF BARODA BY MISAPPROPRIATING VARIOUS AMOUNTS AND DIVERTING SAID AMOUNTS TO PRIVATE PERSON ACCOUNTS THEREBY CAUSING A LOSS OF RS.10.50 CRORE (APPROX.) TO BANK OF BARODA
RIGOROUS IMPRISONMENT FOR TWO YEARS
22
26-FEB-2024
BANK OF BARODA
RAMCHANDRA SHRIDHAR JOSHI
CBI
ENTERED INTO CRIMINAL CONSPIRACY WITH OTHER PRIVATE PERSONS TO CHEAT BANK OF BARODA BY DIVERTING SAID AMOUNTS TO A PRIVATE PERSON ACCOUNTS THEREBY CAUSING A LOSS OF RS.5 CRORE (APPROX.) TO BANK OF BARODA
RIGOROUS IMPRISONMENT FOR ONE YEAR
23
04-JAN-2024
MASTER STEEL TUBES
M.SUDHAKAR RAO
CBI
SANCTIONED CASH CREDIT, INLAND LETTER OF CREDIT AND TERM LOAN ON INFLATED COLLATERAL AND ADDITIONAL COLLATERAL SECURITIES, FORGED LORRY RECEIPTS & INVOICES THEREBY CAUSING A LOSS OF RS.60.49 LAC TO UNION BANK OF INDIA
RIGOROUS IMPRISONMENT FOR FIVE YEARS
24
29-DEC-2023
UNION BANK OF INDIA
K.BHASKAR RAO
CBI
SIPHONED BANK'S FUNDS BY ADOPTED DIFFERENT MODUS OPERANDI FOR PERSONAL BENEFITS AND MANIPULATED ENTRIES IN CORE BANKING SYSTEM (CBS) OF BANK BY USING OWN USER ID & USER IDS OF OTHER OFFICERS THEREBY CAUSING A LOSS OF RS.98.49 LAC TO UNION BANK OF INDIA
RIGOROUS IMPRISONMENT FOR FIVE YEARS
25
21-DEC-2023
PALPAP ICHINICHI SOFTWARE INTERNATIONAL LTD.
PALANIVEL SENTHILKUMAR
CBI
OPENED 149 LOAN ACCOUNTS UNDER STAR PERSONAL LOAN SCHEME IN THE NAMES OF FICTITIOUS PERSONS SHOWING THEM AS EMPLOYEES OF COMPANY AND GOT LOANS SANCTIONED BY FABRICATING SALARY SLIPS & IDENTITY CARDS IN THE NAMES OF LOANEES THEREBY CAUSING A LOSS OF RS.206.87 LAC TO BANK OF INDIA
RIGOROUS IMPRISONMENT FOR FIVE YEARS
26
21-DEC-2023
PALPAP ICHINICHI SOFTWARE INTERNATIONAL LTD.
CBI
OPENED 149 LOAN ACCOUNTS UNDER STAR PERSONAL LOAN SCHEME IN THE NAMES OF FICTITIOUS PERSONS SHOWING THEM AS EMPLOYEES OF COMPANY AND GOT LOANS SANCTIONED BY FABRICATING SALARY SLIPS & IDENTITY CARDS IN THE NAMES OF LOANEES THEREBY CAUSING A LOSS OF RS.206.87 LAC TO BANK OF INDIA
IMPOSED FINE RS.1,00,000
27
05-DEC-2023
STATE BANK OF INDIA
BUTA RAM GHAI
CBI
ENTERED INTO CONSPIRACY AND FRAUDULENTLY CHEATED BY MANIPULATION, FORGERY, CHEATING, FRAUD ETC. THEREBY CAUSING A LOSS OF RS.18.63 CRORE (APPROX.) TO STATE BANK OF INDIA
RIGOROUS IMPRISONMENT FOR SEVEN YEARS
28
05-DEC-2023
STEEL AUTHORITY OF INDIA LTD.
SHANKAR BATRA
ASHWINI OBEROI
CBI
ENTERED INTO CONSPIRACY AND FRAUDULENTLY CHEATED BY MANIPULATION, FORGERY, CHEATING, FRAUD ETC. THEREBY CAUSING A LOSS OF RS.18.63 CRORE (APPROX.) TO STATE BANK OF INDIA
RIGOROUS IMPRISONMENT FOR SEVEN YEARS
29
16-NOV-2023
BANK OF INDIA
A.GADHADAR
CBI
FRAUDULENTLY PROCESSED & SANCTIONED HOUSING LOAN APPLICATIONS AND DISBURSED LOAN AMOUNTS THEREBY CAUSING A LOSS OF RS.73.80 LAC (APPROX.) TO BANK OF INDIA
RIGOROUS IMPRISONMENT FOR FIVE YEARS
30
05-OCT-2023
NEW INDIA ASSURANCE CO.LTD.,THE
ARVIND JAIN
N.K.BHAMAWAT
D.K.NATHANI
ARVIND SHARMA
B.L.MALVIYA
AVINASH DAMODAR JOSHI
P.K.BANTHIA
SANJAY SINGH
S.P.KULKARNI
ARUN K.KHANDELWAL
PANKAJ KHANDELWAL
SANJAY SHARMA
CBI
RELEASED UNAUTHORIZED PAYMENTS OF RS.17,28,033.00 TOWARDS AGENT COMMISSION THEREBY CAUSING LOSS TO NEW INDIA ASSURANCE CO.LTD.
RIGOROUS IMPRISONMENT FOR FOUR YEARS
31
20-SEP-2023
NALANDA TELECOM SERVICE
PERWEZ AHMAD
CBI
AWARDED CONTRACT FOR REPAIR OF FAULTY EPBT CARDS TO NALANDA TELECOM SERVICES WITHOUT GOING THROUGH THE LAID DOWN FORMALITIES
RIGOROUS IMPRISONMENT FOR FIVE YEARS
32
01-SEP-2023
MAIKAAL FIBERS LTD.
DEEPAK NAGAR
ABHIJEET SEN GUPTA
MRIGENDRA JALAN
RAJEEV DUTTA
B.L.SHRIVASTAVA
CBI
FACILITATED MAIKAAL FIBRES LTD. IN REMOVAL OF EXCISABLE GOODS FROM THE PREMISES OF COMPANY IN THE NAME OF EXPORTS & DIVERTED THE SAME INTO DOMESTIC TARIFF AREA WITHOUT PAYMENT OF APPLICABLE DUTIES THEREBY CAUSING A LOSS OF RS.13.00 CRORE (APPROX.) TO THE CENTRAL EXCISE DEPARTMENT
RIGOROUS IMPRISONMENT FOR FOUR YEARS
33
11-AUG-2023
ANBU ROADLINES
K.R.APPU
CBI
SANCTIONED, DISBURSED AND AVAILED VARIOUS CREDIT LIMITS IN FAVOUR OF GROUP COMPANIES AND SANCTIONED LOAN UTILIZED FOR PERSONAL BENEFITS THEREBY CAUSING A LOSS OF RS.13.23 CRORE (APPROX.) TO CANARA BANK
RIGOROUS IMPRISONMENT FOR THREE YEARS
34
11-AUG-2023
ANBU ROADWAYS INDIA PVT.LTD.
K.R.APPU
CBI
SANCTIONED, DISBURSED AND AVAILED VARIOUS CREDIT LIMITS IN FAVOUR OF GROUP COMPANIES AND SANCTIONED LOAN UTILIZED FOR PERSONAL BENEFITS THEREBY CAUSING A LOSS OF RS.13.23 CRORE (APPROX.) TO CANARA BANK
RIGOROUS IMPRISONMENT FOR THREE YEARS
35
11-AUG-2023
CANARA BANK
L.KUMARESAN
CBI
PERMITTED CHEQUE DISCOUNTING IN GROUP ACCOUNTS AND SANCTIONED CREDIT LIMITS BEYOND HIS DELEGATED POWER THEREBY CAUSING A LOSS OF RS.13.23 CRORE (APPROX.) TO CANARA BANK
RIGOROUS IMPRISONMENT FOR THREE YEARS
36
08-AUG-2023
NEXXOFT INFOTEL LTD.
G.NIRMALA
DINESH KAVOOR
CBI
AVAILED TERM LOAN OF RS.16 CRORE FOR IMPORT OF SOFTWARE FROM DUBAI BASED COMPANY AND FOR PURCHASE OF SOFTWARE FROM OTHER PVT.CO.AND DIVERTED THE FUNDS AND NO PRIMARY SECURITY WAS CREATED IN THE ACCOUNT WHICH BECAME IRREGULAR DUE TO NON-PAYMENT OF INSTALMENTS THEREBY CAUSING A LOSS OF RS.18.34 CRORE (APPROX.) TO UNITED BANK OF INDIA
SIMPLE IMPRISONMENT FOR ONE YEAR
37
08-AUG-2023
NEXXOFT INFOTEL LTD.
CBI
AVAILED TERM LOAN OF RS.16 CRORE FOR IMPORT OF SOFTWARE FROM DUBAI BASED COMPANY AND FOR PURCHASE OF SOFTWARE FROM OTHER PVT.CO.AND DIVERTED THE FUNDS AND NO PRIMARY SECURITY WAS CREATED IN THE ACCOUNT WHICH BECAME IRREGULAR DUE TO NON-PAYMENT OF INSTALMENTS THEREBY CAUSING A LOSS OF RS.18.34 CRORE (APPROX.) TO UNITED BANK OF INDIA
IMPOSED FINE RS.1,00,00,000
38
08-AUG-2023
NEXXOFT INFOTEL LTD.
K.SATYANARAYANA
G.DHANAJAYA REDDY
CBI
AVAILED TERM LOAN OF RS.16 CRORE FOR IMPORT OF SOFTWARE FROM DUBAI BASED COMPANY AND FOR PURCHASE OF SOFTWARE FROM OTHER PVT.CO.AND DIVERTED THE FUNDS AND NO PRIMARY SECURITY WAS CREATED IN THE ACCOUNT WHICH BECAME IRREGULAR DUE TO NON-PAYMENT OF INSTALMENTS THEREBY CAUSING A LOSS OF RS.18.34 CRORE (APPROX.) TO UNITED BANK OF INDIA
SIMPLE IMPRISONMENT FOR FOUR YEARS
39
08-AUG-2023
UNITED BANK OF INDIA
RAJESH KUMAR MADHAV
CBI
AVAILED TERM LOAN OF RS.16 CRORE FOR IMPORT OF SOFTWARE FROM DUBAI BASED COMPANY AND FOR PURCHASE OF SOFTWARE FROM OTHER PVT.CO.AND DIVERTED THE FUNDS AND NO PRIMARY SECURITY WAS CREATED IN THE ACCOUNT WHICH BECAME IRREGULAR DUE TO NON-PAYMENT OF INSTALMENTS THEREBY CAUSING A LOSS OF RS.18.34 CRORE (APPROX.) TO UNITED BANK OF INDIA
SIMPLE IMPRISONMENT FOR ONE YEAR
40
28-JUN-2023
UNION BANK OF INDIA
CHINTAKUNTLA PANDURANGAM CHALAPATHI
PILLENDLA PHANI PRASAD
CBI
SANCTIONED LOANS TO TWENTY THREE GROUP HOUSING LOANS FOR CONSTRUCTION OF INDEPENDENT HOUSES AND DISBURSED RS.1.15 CRORE WITHOUT PROPER IDENTIFICATION OF BORROWERS AND ON THE BASIS OF FALSE DOCUMENTS THEREBY CAUSING A LOSS OF RS.1.15 CRORE TO UNION BANK OF INDIA
RIGOROUS IMPRISONMENT FOR FIVE YEARS
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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