financial misconduct
Mumbai EOW Investigates Rs 90 Crore Fraud at Provogue India: Former Director and Associates Charged with Asset Undervaluation Scheme
Nov 20, 2025 12:01 pm CST
Mumbai police's Economic Offences Wing has charged four individuals including a former director of Provogue India Ltd in a Rs 90 crore fraud case. The accused allegedly conspired to undervalue company assets and manipulate the auction process over a five-year period from 2018 to 2023, enabling a predetermined purchase at reduced value. The investigation follows a complaint by the company's former managing director.
Kerala Police Arrest Second Suspect in Rs 3.5 Crore Overseas Education Company Fraud
Oct 30, 2025 05:39 pm CST
Kerala police have arrested Kishore Kumar Rayimol in connection with a Rs 3.5 crore fraud at Empire Overseas Education, an international student placement company. This marks the second arrest in a case involving 13 suspects who allegedly siphoned funds, stole confidential information, and established competing businesses. The primary suspect, Sujith, remains in custody as investigations continue into what appears to be a coordinated conspiracy to undermine the education firm's operations.
Bombay High Court Dismisses Anil Ambani's Challenge to SBI's Fraud Classification of Accounts
Oct 03, 2025 08:39 pm CST
The Bombay High Court has rejected industrialist Anil Ambani's petition against State Bank of India's classification of his and Reliance Communications' accounts as fraudulent. The ruling comes amid allegations of fund misappropriation amounting to Rs 2,929.05 crore, which has prompted a CBI investigation into the matter.
China's Shaolin Abbot Falls: Scandal Engulfs Monk Once Seen As Untouchable
Sep 18, 2025 09:50 pm CST
China has launched a crackdown on powerful Buddhist monks suspected of misusing temple funds for personal wealth.