SC rejects Kapil Wadhawan’s interim bail on medical grounds in bank loan fraud case, ET LegalWorld
The Supreme Court on Thursday rejected former chairman of erstwhile Dewan Housing Finance Corp Kapil Wadhawan’s appeal seeking interim bail on medical grounds in a bank loan fraud case. Kapil Wadhawan had earlier this month approached the Delhi High Court for interim bail on medical grounds. The CBI, however, opposed the interim bail, saying it […]
Edu loan provider Credila Financial Services files IPO papers with Sebi, ET LegalWorld
Education loans-focused lender Credila Financial Services Ltd, formerly known as HDFC Credila Financial Services Ltd, has filed papers with markets regulator Sebi for an initial public offering (IPO) through a confidential pre-filing route. The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP). In a […]
No criminal conspiracy by ICICI Bank officials in NDTV loan repayment at reduced rates: CBI, ET LegalWorld
There was no collusion, criminal conspiracy or abuse of position by officials of ICICI Bank in accepting repayment of a loan at a reduced rate of interest from promoters of NDTV Prannoy Roy and Radhika Roy, the CBI has concluded in its closure report in the 2017 case. The CBI FIR registered on the basis […]
Supreme Court stays auction of farmer’s land over unpaid loan, ET LegalWorld
The Supreme Court has stayed the auction of a farmer’s land in Uttar Pradesh. The Dalit farmer, Sukhram, had taken a loan of Rs 23,049 from the Uttar Pradesh Cooperative Rural Development Bank Ltd. for dairy and buffalo farming. Despite repaying a portion of the loan, Sukhram passed away in 2000. However, in 2002, the […]
SC rejects CBI plea challenging discharge of Central Bank of India’s ex-CMD in loan fraud case, ET LegalWorld
The Supreme Court on Wednesday dismissed the CBI’s plea challenging an order of the Gujarat High Court which discharged former chairman and managing director of the Central Bank of India in a case relating to Rs 436.76 crore loan scam. A bench of Justices Abhay S Oka and Ujjal Bhuyan said there is no material […]
Bengaluru Loan Firm Fined Rs 1.3L for Withholding Property Documents from Borrower, ET LegalWorld
A housing finance company that failed to return the title deed and other documents pertaining to a site to a Bengalurean, though he had repaid the loan, was recently ordered by a consumer court to give him back all the papers and also pay him over Rs 1.3 lakh as compensation. C Sathyanathan, 58, a […]
RBI lifts restrictions on IIFL Finance’s gold loan business, Legal News, ET LegalWorld
IIFL Finance on Thursday said RBI has lifted the restrictions imposed on its gold loan business. These restrictions were imposed on March 4, 2024, which prohibited the company from sanctioning, disbursing, or assigning/ securitising/ selling any of its gold loans. “The Reserve Bank of India (RBI), through its communication dated September 19, 2024, has lifted […]
Delhi HC grants conditional bail to Dheeraj Wadhawan in DHFL multi-crore bank loan fraud case, ET LegalWorld
The Delhi High Court on Monday granted bail to Dheeraj Wadhawan in connection with the DHFL multi-crore bank loan fraud case. The court, while giving a relief to Wadhawan, said, “bail application is allowed as it falls within the category of sick person. Trial court is set aside.” However, it laid out certain conditions. The […]