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Skeletons in my banks and national system

White Collar Billionaire Criminals have cheated the Indian system!

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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

  • Garden Silk Mills, Surat  225.06 cr
  • Korba West Power Company, Gurgaon 124.78 cr
  • Modern Steels, Chandigarh 122.61 cr
  • SNS Starch, Secunderabad 66.87 cr
  • Leitwind Shriram Manufacturing Pvt Ltd  64.95 cr
  • Unijules Life Sciences 59.25 cr
  • Scania Steels & Power 42.42 cr
  • KSM Spinning Mills 40.42 cr
  • Modern Dairies 39.93 cr
  • Asmita Papers 37.20
848.54 cr SBI
Apr 08 PNB NPA up for Sale

  • Shree Sidhbali Ispat Ltd (Meerut 165.30 cr
  • Sri Guruprabha Power Ltd., Chennai 31.52 cr
  • Dharamnath Investment, Mumbai 17.63 cr
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…………

  1. Karti Chidambaram accused and arrested on bribery charges.. innocent until proven otherwise
  2. Dam contractor in Mumbai shoots himself – he had defaulted on 100 cr loan. he was accused in Maharashtra irrigation scam.
  3. PNB etc officials arrested, including internal audit head
  4. ICAI accused of being weak and govt starts pushing for a new oversight body again – National Financial Reporting Agency to punish auditors
  5. Banks asked to audit SWIFT and NPA above 50 cr
  6. 7000 bank employees in Gujarat transferred (TOI Feb28, 2018)
  7. Nirav Modi’s Firestar files for bankruptcy in USA
  8. Ex bureaucrat writes to PM indicting KPMG and IAS officers
  9. Gem and jewellery business faces credit crunch!
  10. SWIFT says banks have to be vigilant
  11. RBI suspends issue of LOUs
  12. 14 Mar 2018 – RBI says it is helpless
  13. Gem and jewellery business faces credit crunch!
  14. SWIFT says banks have to be vigilant
  15. RBI suspends issue of LOUs
  16. Public Sector banks lost Rs 2,450 to employee fraud between April 2013 and June 2016 — RBI reports
  17. 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

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