Earlier this month, Punjab National Bank said it had reported a borrowing fraud of Rs 3,805 crore in Bhushan Power's account to the Reserve Bank of India

Most companies do not provide insurance cover to unmarried or live-in partners of heterosexual employees as the legal status and rights of unmarried couples are yet to be clearly defined in the Indian system.

Shares of Allahabad Bank declined nearly 15% on Monday after the lender reported a fraud of over Rs 1,775 crore by Bhushan Power and became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker.

The company said it was \"undergoing substantial financial stress\" and its ability to raise funds was \"substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements.\"

Allahabad Bank said in a statement that it had told the Reserve Bank of India (RBI) that it had identified a fraud worth $259 million in Bhushan's accounts.

Bhushan Steel case: Assuming one lawyer per accused, the total strength will cross over 570 plus which is almost impossible to accommodate in one court room, said the lawyer. The chargesheet is also 70,000-page long.

On Saturday, Punjab National Bank alleged that the bankrupt steel company misappropriated bank funds and manipulated its books of accounts to raise funds from its consortium of lenders. The size of the fraud is pegged at Rs 3,805 crore against Rs 2,348 crore mentioned in the CBI FIR against the company and its top brass.

Punjab National Bank share price slipped over 5% in trade today after the bank was hit with yet another fraud worth Rs 3,805.15 crore by Bhushan Power & Steel Ltd (BPSL), just over a year after a major fraud worth Rs 13,700 crore involving diamantaire Nirav Modi.

PNB Fraud: The bank fraud includes domestic exposure of Rs 3,191.51 crore at the PNB's Chandigarh branch, overseas exposure of Rs 345.74 crore at its Dubai branch and Rs 267.9-crore exposure at its Hong Kong branch

Public sector lender Punjab National Bank said on July 6 it has detected a fraud of more than Rs 3,800 crore by Bhushan Power & Steel Ltd (BPSL) and has reported it to the Reserve Bank of India (RBI).

The CBI has conducted this special drive against bank loan defaulters for an amount involving approximately Rs 640 crore. According to agency officials, 14 cases have been registered against the accused including various companies, their promoters/directors and bank officials.

Of the 12 big cases, just three companies - Bhushan Steel, Monnet Ispat and Electrosteel Steels - have been sold so far and the court ordered liquidation of Lanco Infratech and ABG Shipyard

Share Market LIVE: On the sectoral front, indices trading in the green are IT, FMCG, Auto, Metal, Infra and Pharma. In declining indices, PSU bank and Media tops the list with 1.40% decline each, followed by Financial services, Energy, Bank and Realty.

The third largest lender had put Bhushan Power & Steel on sale in December 2018 but could not find a buyer

Tata Steel and JSW have been fighting for the number one spot for years. Now, both are getting ready for the rough ride ahead.

With change of guard in at least half-a-dozen companies, the Indian steel industry is undergoing unprecedented churn. It will emerge stronger than ever.

The ED probe report says these loans were sanctioned by the private bank to Videocon companies under Chanda Kochhar's stewardship between 2009 and 2018