There are thousands of loans which have gone bad and a loan will usually go bad when the banker has his/her own “interest” in the disbursement. Unfortunately the bigwigs of the banking sector in India are still roaming around free and the small fry have been arrested. And of course all the guys who have screwed the system with billion rupee frauds are living life king size whether in India or abroad.
The score till date :
b/f Winsome, Lalit Modi, Vijay Mallya Rs. 17,700 cr
The rats who have run away and living in St Kitts and London.
FEBRUARY 2018 Rs. 15,006.77 cr
MARCH 2018 Rs. 32,270.74
plus
MARCH 2018 Rs. 23,095 (Nirav Modi, Gitanjali, Rotomac)
APRIL 2018 (upto 15th) Rs. 7,306.28 cr
The figures are culled from the various news paper / media reports and may not be the exact figures. The numbers include some hefty tax dues in addition to the bank / loan defaults and frauds.
It is interesting to see that if the system was diligent enough to stem the rot this money could have been given out to the farmers who have failed crops (and stopped many a suicide) or could have been diverted to many other schemes… however it was not to be and has made these white collar criminals richer by millions.
| DATE | FRAUDSTER / DEFAULTER | AMOUNT | BANK |
| Apr 04 | Shirdi Industries, Mumbai (Rakesh Agarwal. Earlier Piyush Goyal, Union Railways Minster was CMD) | 650 cr | Union Bank (waiver 65% by NCLT) |
| Apr 08 | SBI NPAs up for sale
| 848.54 cr | SBI |
| Apr 08 | PNB NPA up for Sale
| 214.45 cr | PNB |
| Apr 10 | Diamond Power Infrastructure Pvt Ltd, Vadodara | 2,654 cr | 11 banks |
| Apr 14 | Ex-CMD of UCO Bank (Arun Kaul; Era Engineering Infra India Ltd; Altius Finserve Pvt Ltd – their directors and CA | 621 cr | UCO |
| Apr 14 | SSK Trading Pvt Ltd | 187.29 cr | PNB & 5 ors |
| Apr 13 | Nakoda Limited, Surat (CMD Babulal Gumanmal Jain, Jt-MD Devender Babulal Jain) | 2,107 cr | Canara Bank & 12 ors |
| Apr 15 | Fashion Designer Pradip & Neha Hirani (Kimaya Stores) | 24 cr | IDBI |
MARCH 2018
| DATE | FRAUDSTER / DEFAULTER | AMOUNT | BANK |
| Winsome Diamonds | 7,000 cr | PNB, OBC etc | |
| Lalit Modi | 1,700 cr | ED wants him | |
| Vijay Mallya | 9,000 cr | ||
| March | Nirav Modi | 13,000 cr | PNB & others |
| March | Mehul Choksi, Gitanjali Diamonds | 6,400 cr | PNB & others |
| March | Rotomac Pens, Kanpur (Vikram Kothari) | 3,695 cr | BoB & 7 ors |
| Mar 03 | Shri Lakshmi Cotspyn, Kanpur (M P Agarwal) | 4,000 cr | 16 banks |
| Mar 03 | Shah Bros Ispat Pvt Ltd | 7.20 cr | GST Fraud |
| Mar 03 | R P Infosystems, Kolkata | 515 cr | PNB & 9 ors |
| Mar 01 | Subhiksha Supermarkets, Chennai | 790 cr | various banks |
| Mar 03 | City Union Bank, Chennai $ 2 m | 13 cr | SWIFT Fraud |
| Mar 16 | Chandri Paper & Allied Products Pvt Ltd | 9 cr | PNB same branch |
| Mar 25 | Nathela Sampath Jewellers, Chennai | 250 cr | SBI & 3 ors |
| Mar 23 | Totem Infrastructure Ltd, Hyderabad (Kavita and Salalith Totempudi – recipient of Young Entrepreneur Award – Andhra Pradesh 2008) | 1,394.43 cr | UBI |
| Mar 23 | Dwarkadas Seth International | 390 cr | OBC |
| Simbhaoli Sugars | 109 cr | OBC | |
| Mar 21 | Kanishk Gold, Chennai (Bhoopesh Jain, Neeta Jain) also read | 824.15 cr | SBI & 13 ors |
| Mar 23 | Indian Technomec, Himachal Pradesh (Vinay K Sharma) | 6,000 cr | Tax Fraud |
| Mar 19 | Parekh Alluminex Ltd | 4,000 cr | Axis & 21 ors |
| Mar 09 | S,Kumars – Reid & Taylor Bankruptcy | 5,000 cr | IDBI & ors |
| Mar 05 | 447 companies failed to submit TDS | 3.200 cr | Income Tax Dept |
| Some contenders for the Scamster Roll of Honor: Deepak Talwar (commission in defence deal); Sanjay Bhandari (customs duty evasion in car imports for stars) | |||
| Mar 06 | Monnet Ispat | 10,200 cr | ICICI and ors (waiver 75% by NCLT) |
| Mar 24 | Chandrasekhar Harish Chennapagari AGM Guntur Branch sanctioned loans for non existent fish farms
| 93.73 cr | IDBI |
| Mar 24 | IDBI’s GM Battu Rama Rao, CGM R. Damodaran, 22 aggregators and bank panel valuers – made merry with this fish farming scam | 445.32 | IDBI |
| Mar 23 | Deccan Chronicle, UII officials, CARE ratings CEO Rajesh Mokashi, IDFC CFO Sunil Kakkar | 30 cr | United India Insurance |
| Feb 28 | Aircel Bankruptcy | 15,000 cr | Bankruptcy |
| Feb 27 | Ramnandi Estates, Jamdshedpur | 6.77 cr | Corp Bank |
FALLOUT OF NIRAV’S CAPERS…………
- Karti Chidambaram accused and arrested on bribery charges.. innocent until proven otherwise
- Dam contractor in Mumbai shoots himself – he had defaulted on 100 cr loan. he was accused in Maharashtra irrigation scam.
- PNB etc officials arrested, including internal audit head
- ICAI accused of being weak and govt starts pushing for a new oversight body again – National Financial Reporting Agency to punish auditors
- Banks asked to audit SWIFT and NPA above 50 cr
- 7000 bank employees in Gujarat transferred (TOI Feb28, 2018)
- Nirav Modi’s Firestar files for bankruptcy in USA
- Ex bureaucrat writes to PM indicting KPMG and IAS officers
- Gem and jewellery business faces credit crunch!
- SWIFT says banks have to be vigilant
- RBI suspends issue of LOUs
- 14 Mar 2018 – RBI says it is helpless
- Gem and jewellery business faces credit crunch!
- SWIFT says banks have to be vigilant
- RBI suspends issue of LOUs
- Public Sector banks lost Rs 2,450 to employee fraud between April 2013 and June 2016 — RBI reports
- Indian Banks reported at least 1 fraud every hour in FY 2017 and the highest number of frauds are at Bank of Maharashtra, then ICICI and then SBI .. read more..
your help is solicited, in case I have missed out any, and even in future
