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Bhushan Steel MD Neeraj Singal arrested for corporate fraud

Friday, August 10, 2018, 10:33 AM

The Serious Fraud Investigation Office (SFIO) has arrested former promoter and MD of Bhushan Steel, Neeraj Singhal, for allegedly siphoning bank loans of over Rs.2,000 crore. The investigating team found that erstwhile promoters used "complex, fraudulent manoeuvres" to divert funds raised from state-run banks using associate companies. Tata Steel acquired Bhushan Steel after insolvency resolution.
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2 held for duping medical-course aspirants

Sunday, July 29, 2018, 11:52 AM

The Special Task Force of Uttar Pradesh police has arrested two people for allegedly duping many medical-course aspirants after promising them admission in state medical colleges, an official said today. During interrogation, it was found that the accused took about Rs 1.23 crore from 92 candidates in the past six months after promising them admissions in medical colleges, the official said.
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Sebi orders audit of Fortis Healthcare, SFIO suspects fraud

Friday, June 29, 2018, 10:57 AM

The findings of an investigation into Fortis Healthcare Ltd have exposed former promoters Malvinder Singh and Shivinder Singh to further legal trouble with Sebi initiating a forensic audit and the Serious Fraud Investigation Office (SFIO) suspecting fraud. Sebi has ordered a forensic audit into the affairs of the company following suspicion of financial fraud of Rs.473 crore.

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