Free Press Journal
  • Govt: Passport details must for loans of Rs 50 crore and above

    New Delhi : Passport details of borrowers taking loans of Rs 50 crore and more have been mandatory to ensure a swift action in case of fraud and prevent fraudsters from fleeing the country, a top official said on Saturday. Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the country. “Next step on clean and responsible banking. Passport details must for

  • Banks to have big borrowers’ passport details

    New Delhi : The Finance Ministry has directed state-owned banks to obtain passport details of all borrowers, who have taken loans in excess of Rs 50 crore, within 45 days with a view to preventing alleged fraudsters like Nirav Modi and Vijay Mallya from fleeing the country, sources said.

  • Bill to tackle fugitive economic offenders

    New Delhi : The government has readied a legislation to be introduced in the second half of Parliament’s budget session starting from March 5 to confiscate and sell assets of the economic offenders fleeing from the country to settle the creditors’ due of Rs 100 crore or more.

  • Punjab CM’s kin pocketed farmers money: Amit Shah

    New Delhi : BJP chief Amit Shah on Monday hit out at the Congress over an alleged bank fraud case in which Amarinder Singh’s son-in-law has been booked, saying it is shameful that the Punjab chief minister’s relative pocketed the money meant for hardworking farmers.

  • Bank officers’ union calls for naming and shaming defaulters

    Mumbai : The All India Bank Officers Confederation (AIBOC) has alleged that most financial scams take place due to loopholes in the system and called for publishing the names of defaulters of all banks.

  • Get back Nirav while returning from your trips: Rahul to PM

    Mendipathar : Taking a dig at Prime Minister Narendra Modi, Congress President Rahul Gandhi on Tuesday asked him to bring back absconding diamantaire Nirav Modi “when he returns from his foreign trips”.

  • The Nirav Modi, Lalit Modi, Vijay Mallya scams confirm THIS about India

    India is a country which, by many substantiated reports and studies is a poor, developing and emerging country. Almost 30% of the population still lives below poverty line and poor people can’t have meal two times a day. India has an atrocious record on various health indices. Isn’t it a shame that, even after 70 years of independence, we can’t provide basic amenities such as food, cloth, and shelter? India is still

  • CBI refuses to disclose expenses incurred to bring back Vijay Mallya, Lalit Modi

    New Delhi: The CBI has refused to share details of expenses incurred to bring back to India fugitive businessmen Lalit Modi and Vijay Mallya, claiming immunity from disclosures under the RTI Act. Pune-based activist Vihar Dhurve had approached the agency seeking details of expenses incurred by the government to bring back Mallya, wanted in India on charges of Rs 9,000-crore fraud and Modi, who is facing a money laundering probe.

  • Nirav Modi to Vijay Mallya: India’s economic offenders who are on the run

    Celebrity jeweller Nirav Modi left India just days before the CBI started investigating him in connection with a Rs 11, 300 cr Punjab National Bank scam. Nirav Modi, his family members and business partner Mehul Choksi are accused of getting billions in credit from banks overseas after using PNB officials in Mumbai to issue fraud guarantees.

  • Vijay Mallya to get 18,000 pounds weekly as expense allowance: UK court

    London: Vijay Mallya, the embattled liquor baron wanted in India on charges of fraud and money laundering, will get over 18,000 pounds weekly – a three-fold increase – as “ordinary living expenses allowance” following a recent UK High Court order. Mallya’s lawyers had applied to the court for additional living expenses as part of an estimated USD 1.5-billion worldwide freezing order against the 62-year-old businessman last year.

  • Vijay Mallya loses legal battle, Kingfisher to pay USD 90 million in claims

    London/Singapore: Embattled liquor tycoon Vijay Mallya has lost another legal battle linked to his now- defunct Kingfisher Airlines after the UK High Court awarded Singapore-based BOC Aviation an estimated USD 90 million in claims.

  • Remove Vijay Mallya’s private jet from city airport: Bombay High Court

    Mumbai: The Bombay HC on Monday directed the Official Liquidator of Karnataka HC to ‘do something’ to remove the private aircraft owned by former liquor baron Vijay Mallya. The HC has asked the Liquidator to remove the aircraft, parked in one of the hangars at Mumbai airport, till February 26. The direction came from a division bench of Justice Satyaranjan Dharmadhikari and Justice Bharati Dangre while hearing a notice of motion moved

  • India moves ahead on extradition cases of Mallya, Chawla in UK

    London : The Indian government is set to move forward in two high-profile extradition cases in the UK courts, that of embattled liquor baron Vijay Mallya and alleged bookie Sanjeev Kumar Chawla. Mallya’s case, which was left inconclusive over the issue of admissibility of evidence presented by the Indian authorities at a hearing last week, will return to Westminster Magistrates’ Court here on January 22.