Bank Fraud

Godhwani was already under judicial custody pertaining to an earlier offence. "Yes we have arrested him (Godhwani)," Joint Commissioner of Police, Economic Offences Wing, Chhaya Sharma told IANS. In December last year, Religare's former CEO Krishnan Subramanian was arrested for siphoning off public money to the tune of Rs 2,397 crore.

The Punjab National Bank (PNB) has reported a borrowal fraud of Rs 2060.14 crore in the NPA account of IL&FS Tamil Nadu Power at the Extra Large Corporate Branch in Delhi zonal office. "A fraud of Rs 2060.14 crore is being reported by the bank to the RBI in the accounts of the company. The bank has already made provisions amounting to Rs 824.06 crore, as per prescribed prudential norms," PNB said in a disclosure.

Accordingly, the stake was sold to IL&FS' majority joint venture partner Vishvaraj Infrastructure Limited (VIL). "The sale entails VIL taking over entire external debt of WCBTRL amounting to Rs 306 crore, providing equity value of over Rs 12 crore and settling IL&FS Group dues amounting to Rs 6 crore - thereby resolving Rs 324 crore from the overall IL&FS Group debt of approx. Rs 99,000 crore, as of October 2018,"

The SEBI has imposed a total penalty of Rs 26 crore on IL&FS Securities Services Ltd. In a separate order, the capital market regulator has imposed penalties of Rs 3 crore on AFSPL and another Rs 3 crore on its MD, Awanish Kumar Mishra. It has also imposed fines of Rs 14 lakh and Rs 7 lakh on its directors Himanshu Arora and Jitendra Kumar Tiwari.

A CBI spokesperson here said that the agency teams carried out searches at the premises of the company and its directors, based in Himachal Pradesh's Kangra. The official said that the agency had registered a case against Technometal Company Limited and its directors and other unknown public servants and other persons on a complaint from Union Bank of India, erstwhile known as Corporation Bank.