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Holding a chartered account (CA), Shyam Malpani, who worked as an engagement partner (EP), responsible for professional misconduct and conflict of interest while conducting the statutory audit of S Kumars Nationwide Ltd (SKNL) for FY13-14, the national financial reporting authority (NFRA) barred the CA for five years and and imposed a penalty of Rs5 lakh. ....
The Central Bureau of Investigation (CBI) on Wednesday said that they have registered a case of a Rs 1,245 crore bank loan fraud on complaint from IDBI Bank Ltd, against a Mumbai-headquartered private company having its manufacturing units at Madhya Pradesh, and Gujarat, and 14 others including its promoters/directors, unknown public servants, and others. ....
According to the agency, promoters/directors of the company allegedly misused or diverted funds received from a consortium of banks between 2012 and 2018, which resulted in a loss of about Rs 1,245.15 crore. ....
The complaint was filed by the IDBI Bank Ltd and also on behalf of four other member banks of the consortium, namely, the Central Bank of India, the Jammu & Kashmir Bank Ltd, the Punjab National Bank, and the Indian Bank. ....
CBI books textile major in bank fraud case of over Rs 160 crore dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.