Defaulting Firm

Hyderabad-based Karvy Stock Broking is accused of raising loans from IndusInd Bank, HDFC Bank, ICICI Bank, and others pledging clients' securities and using the funds as working capital. It has defaulted on several such loans, the police have said.

Firms defaulted on at least Rs 5,200 crore of domestic bonds so far this year, the most on record for a similar period.

The Central Bureau of Investigation (CBI) has charged Parikh Fabrics Private Limited and its directors for alleged defaulting on loan worth Rs 173.76 crore nine years ago in a consortium led by the State Bank of India, officials said on Thursday.

A special Prevention of Money-Laundering or PMLA court in Mumbai on Wednesday rejected bail pleas of a former Chief Financial Officer and an ex-internal auditor of Cox and Kings Group, who were arrested by the Enforcement Directorate in connection with its probe in the Yes Bank alleged loan default case.

The Supreme Court on Tuesday gave telecom companies 10 years to clear huge dues owed to the government, called adjusted gross revenue (AGR), amounting to about Rs 1.6 lakh crore, in staggered payments. A three-judge bench of the top court said telecom companies must pay 10 per cent of the dues by March 31 next year. The Supreme Court rejected a 20-...

The Delhi government has warned tax defaulters of stringent action as it found that 10,800 companies did not pass on the full amount they collected from people as taxes, an official statement said.

Alleging that 2,426 companies have "looted" people's savings to the tune of Rs 1.47 lakh crore from banks, Congress leader Rahul Gandhi on Sunday asked if the government will conduct a probe into it to punish those guilty.

US coronavirus: The federal government's unprecedented $2.2 trillion aid package will help ease the economic pain, but the $1,200 checks promised to every American -- and $500 for each child -- will not arrive until the second half of April.

Rana Kapoor, the founder of crisis-hit Yes Bank, has been arrested by the Enforcement Directorate after two days of questioning in an alleged bank scam worth Rs 4,300 crore. He will be in their custody till March 11. The Reserve Bank of India (RBI) has capped transactions for every Yes Bank user at Rs 50,000 for a month, till April 3, after the pri...

Debt-ridden telecom firms have paid part of the Rs 1.47 lakh crore they owe to the government as the Reserve Bank expressed concern on Monday about the possibility of their defaulting on bank loans. Bharti Airtel made a payment of Rs 10,000 crore on Monday. Vodafone Idea and Tata Group have already paid their share. The telecom companies -- which h...

Some telecom firms are already struggling with mounting losses and debt and the additional liability has raised concerns of them defaulting on existing loans.

Congress General Secretary Priyanka Gandhi Vadra has targeted Yogi Adityanath-led Uttar Pradesh government for investing the employees Provident Fund money in defaulter company DHFL and asked whose interest was being served by it.

The father-son promoters of crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL) openly maintained a flamboyant lifestyle as they moved around with armed guards. Accused of not repaying loans up to Rs 6,500 crore to Punjab and Maharashtra Cooperative (PMC) Bank, Rakesh Kumar Wadhawan and his son Sarang Wadhawan will stay in...

The former board members of Punjab Maharashtra Co-operative (PMC) Bank and the promoters of crisis-hit real estate firm HDIL have been charged with money-laundering by the Enforcement Directorate in the Rs. 6,500 crore loan default case.

Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...

Hyderabad-based Karvy Stock Broking is accused of raising loans from IndusInd Bank, HDFC Bank, ICICI Bank, and others pledging clients' securities and using the funds as working capital. It has defaulted on several such loans, the police have said.

Firms defaulted on at least Rs 5,200 crore of domestic bonds so far this year, the most on record for a similar period.

The Central Bureau of Investigation (CBI) has charged Parikh Fabrics Private Limited and its directors for alleged defaulting on loan worth Rs 173.76 crore nine years ago in a consortium led by the State Bank of India, officials said on Thursday.

A special Prevention of Money-Laundering or PMLA court in Mumbai on Wednesday rejected bail pleas of a former Chief Financial Officer and an ex-internal auditor of Cox and Kings Group, who were arrested by the Enforcement Directorate in connection with its probe in the Yes Bank alleged loan default case.

The Supreme Court on Tuesday gave telecom companies 10 years to clear huge dues owed to the government, called adjusted gross revenue (AGR), amounting to about Rs 1.6 lakh crore, in staggered payments. A three-judge bench of the top court said telecom companies must pay 10 per cent of the dues by March 31 next year. The Supreme Court rejected a 20-...

The Delhi government has warned tax defaulters of stringent action as it found that 10,800 companies did not pass on the full amount they collected from people as taxes, an official statement said.

Alleging that 2,426 companies have "looted" people's savings to the tune of Rs 1.47 lakh crore from banks, Congress leader Rahul Gandhi on Sunday asked if the government will conduct a probe into it to punish those guilty.

US coronavirus: The federal government's unprecedented $2.2 trillion aid package will help ease the economic pain, but the $1,200 checks promised to every American -- and $500 for each child -- will not arrive until the second half of April.

Rana Kapoor, the founder of crisis-hit Yes Bank, has been arrested by the Enforcement Directorate after two days of questioning in an alleged bank scam worth Rs 4,300 crore. He will be in their custody till March 11. The Reserve Bank of India (RBI) has capped transactions for every Yes Bank user at Rs 50,000 for a month, till April 3, after the pri...

Debt-ridden telecom firms have paid part of the Rs 1.47 lakh crore they owe to the government as the Reserve Bank expressed concern on Monday about the possibility of their defaulting on bank loans. Bharti Airtel made a payment of Rs 10,000 crore on Monday. Vodafone Idea and Tata Group have already paid their share. The telecom companies -- which h...

Some telecom firms are already struggling with mounting losses and debt and the additional liability has raised concerns of them defaulting on existing loans.

Congress General Secretary Priyanka Gandhi Vadra has targeted Yogi Adityanath-led Uttar Pradesh government for investing the employees Provident Fund money in defaulter company DHFL and asked whose interest was being served by it.

The father-son promoters of crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL) openly maintained a flamboyant lifestyle as they moved around with armed guards. Accused of not repaying loans up to Rs 6,500 crore to Punjab and Maharashtra Cooperative (PMC) Bank, Rakesh Kumar Wadhawan and his son Sarang Wadhawan will stay in...

The former board members of Punjab Maharashtra Co-operative (PMC) Bank and the promoters of crisis-hit real estate firm HDIL have been charged with money-laundering by the Enforcement Directorate in the Rs. 6,500 crore loan default case.

Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...