Addressing a press conference at the customary post-Budget meeting, the Finance Minister said, "Gold is always an investment for households, seen seasonal spikes during festival season. We are watching it, but not seeing that prices are gone beyond certain limit." On IDBI Bank, Sitharaman
The strategic disinvestment of IDBI Bank has moved to the third phase, which means that now the technical and financial bids will be invited, said Arunish Chawla, Secretary, Department of Investment and Public Asset Management (DIPAM) on Sunday.
The government expects to invite financial bids for IDBI Bank disinvestment in the third quarter of the current financial year, with the selection of the winning bidder likely by the end of 2025-26, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said
The raids are underway since morning at nine places in Delhi and NCR and one in Punjab's Ludhiana in the case which was taken by the ED on the basis of Central Bureau of Investigation (CBI) FIR of bank fraud.
Pandey said, "We have to do it through a two-stage bidding process, where in the first stage we bring Expression of Interest (EoI) and thereafter they are taken to due diligence. You have to negotiate the share purchase agreements, and then go for financial bidding. Before that, there could
Enforcement Directorate (ED) carried out search operations under the Prevention of Money Laundering Act (PMLA) against Jyoti Power Corporation Pvt. Ltd. and its Directors, Kamlesh Mavjibhai Katariya and Nitesh Mavjibhai Katariya, and others.
The persons identified as accused in the FIR were directors of GS Entertainment Pvt Ltd (GSEPL) Jaspreet Singh Walia (alias Bunty Walia) and Guneet Singh Walia (alias Jassi Walia). It also mentioned the name of Stany Saidanha, chartered accountant and others.
Reports of a possible deferment of the disinvestment of IDBI Bank are speculative and baseless, and the transaction continues to be on track, said the Department of Investment and Public Asset Management (DIPAM) on Friday.
The Special Judge for CBI cases, Visakhapatnam, on Thursday sentenced Surendranath Datti, former assistant general manager-cum-centre head of IDBI Bank Ltd's Vizag Retail Asset Centre, to two years imprisonment in a bank fraud case.
The Bank's interest income went up 13 per cent to Rs 5,231 crore, against Rs 4,624 crore in the year-ago period. Non-interest income decline 25 per cent to Rs 857 crore against Rs 1,138 crore in the year-ago period.
The Central Bureau of Investigation (CBI) registered four separate cases of complaints from Canara Bank, Punjab National Bank, IDBI Bank Ltd. and EXIM Bank respectively against the accused and others including a private company.
The Enforcement Directorate (ED) has provisionally attached immovable assets having market value of Rs 20.31 crore belonging to accused Mada Subrahmanyam, Mada Srinivasa Rao, Ganduri Mallikharjuna Rao, Eluri Prasada Rao, their family members and firms under the money laundering act in con