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27/02/2018

ANOTHER CHEAT IN THE ORIENTAL BANK

New Delhi,February 27,(way2newstv.in):
Before the Punjab National Bank scandal was over, another bank was found to be fraudulent.In the Oriental Bank of Commerce (OBC), cheating was worth Rs 389.95 crore.The Central Bureau of Investigation (CBI) has issued an inquiry into the Delhi-based gold smuggler Dwarka Das Seth International.Gujarat's Vajra's businessman Nirav Modi and his cousin, Geetanjali Group chief Mehul Choki and Punjab National Bank are accused of damages worth Rs 11,400 crore.


ANOTHER CHEAT IN THE ORIENTAL BANK

During the period 2007-12, the company had purchased various lending facilities from OBC in the same period as Rs 389.95 crore.The bank deceived the bank with the help of officials from Dwarka Das Seth International using illegally using Letter of Credits II.Dwarka Das Seth International has used LCs since 2007 from OBC.Borrowers have used this facility for bills to subsidize, Under these credit letters, Dubai Bank Kenya, Soleil Chartered Bank, Trade Chartered Bank, TF Bank Counterdrug Ink, Century Bank Corporation LCC etc.Continuing to increase lending by LCs until OBC found that other banks were poorly rated.After lodging a bank complaint, he stopped lending.On the bank's complaint, the agency, and SABA Seth, Rita Seth, Krishna Kumar Singh, Ravi Singh - all the directors of the company - and the Dwarka Das Seth Sez International Corporation, another company.On the other hand, another scandal broke out in Uttar Pradesh.The main accusation here is that the accused have money to pay for the farmers.

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