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‘Rs 10.5 crore cash missing from PMC records’

MUMBAI: PMC Bank‘s internal investigation team has made a startling revelation: A total of Rs 10.5 crore cash is missing from the bank’s records. The team has found multiple cheques issued by HDIL and its related entities which were never deposited with the bank and yet cash was handed over to them. While the cheques amount to over Rs 10 crore, there is no accounting for another Rs 50-55 lakh. That apart, Rs 4,355 crore, the loan fraud amount that the bank’s officials had quoted earlier, has now crossed Rs 6,500 crore. The bank learned of the missing Rs 10.5 crore cash only while the internal inquiry into the bank’s financial transactions was being conducted on the orders of an RBI-appointed administrator. It is learned that HDIL and group companies wanted the cash ...

In a first, Mexico deports 311 Indians trying to sneak into US

In a transatlantic deportation without precedent, Mexico has put 311 Indians – caught illegally entering the country and trying to cross over to the US – on a Boeing 747-400 charter scheduled to touch down at Delhi airport early on Friday.Mexico’s National Migration Institute (INM) said in a release that the deportees, who are being escorted back home by 60 federal migration agents, had been found to have entered the country without valid documents for “regular stay” over the past few months.The mass deportation revived memories of the tragedy that befell a family from Punjab in June, when a six-year-old girl died of a heat stroke in the Arizona desert on the US-Mexico border after her mother went in search of water during their illegal border crossing. The bo...

India on course to be $5 trillion eco by 2024: PM

PM Narendra Modi on Thursday asserted during his Maharashtra poll campaign that his government was on course to make India a five-trillion-dollar economy in the next five years despite apprehensions being expressed by experts and the opposition.“Unlike them (experts), it is not just a figure for us. It is our resolve. We are aware of the reality but we have the confidence,” Modi said at a rally in Pune.The PM, who had articulated this aspiration during his Independence Day speech, said, “For the initial 60 years, we were just a one-trillion-dollar economy. During the tenure of our government, India has become a three trillion-dollar economy.”I am banking on this track record and the support of the younger generation who have great capabilities. Our foreign policies ...

Fix economy, stop blaming UPA: Manmohan Singh

MUMBAI: Former Prime Minister Manmohan Singh on Thursday said his successor Narendra Modi and finance minister Nirmala Sitharaman should stop blaming the UPA regime for the crisis in the economy as the NDA had been in office for over five years which is “long enough period” for a government “to do some credible things”.“When I was in office, what happened did happen. There were some weaknesses, but you can’t claim the fault lies with UPA always. Mainly passing the buck to UPA is not enough. The government is obsessed with trying to somehow fix the blame on its opponents. In the process, it is unable to find a solution that will ensure the revival of the economy, particularly strengthening of our banking system,” said Singh, speaking at a Congress m...

Terrorists kill Punjab apple trader, migrant labourer in Kashmir

SHOPIAN: An apple trader from Punjab and a brick kiln worker from Chhattisgarh were shot dead in separate attacks by terrorists in J&K on Wednesday, taking the number of civilian killings to three in as many days and sending a frisson of alarm that resulted in a procession of outstation trucks fleeing the Valley without picking up their fruit consignments.The latest victims in the resurgence of terror attacks since Monday were Punjab-based Charanjeet Singh, who was killed during a business trip to Trenz in Shopian district, and Sethi Kumar Sagar, a resident of Besoli in Chhattisgarh employed in a brick kiln in Pulwama. Sanjeev Singh, who was accompanying Charanjeet, was critically injured in the attack.DGP Dilbagh Singh said the brick kiln worker from Chhattisgarh slain in the day̵...

Ayodhya row: Muslim parties ready to drop claim

NEW DELHI: The court-appointed mediation panel on Wednesday informed the Supreme Court about achieving a groundbreaking settlement to the vexed dispute over the 2.77-acre Ram Janmabhoomi-Babri Masjid land in Ayodhya under which the Muslim parties have agreed to give up their claim on the land for the construction of the Ram temple.Parties who signed the settlement were the Sunni waqf board, the Nirvani Akhara, a representative of Nirmohi Ani (parent body of all eight Nirmohi Akharas), the Hindu Mahasabha and the Ram Janmasthan Punarudhar Samiti, sources told TOI.The settlement, while seeking to facilitate a Ram temple, also seeks strict implementation of the 1991 law that lays down status quo for all places of worship that existed on August 15, 1947, repair of all other mosques in Ayodhya ...

We’ll soon know how 1993 bombers fled: PM Modi

In the backdrop of the Enforcement Directorate issuing a notice to Sharad Pawar confidant Praful Patel for an alleged financial deal between a company promoted by his family and the kin of Dawood Ibrahim aide Iqbal Memon “Mirchi,” PM Narendra Modi said at a rally in Akola on Wednesday it would soon be clear who had helped the perpetrators of the 1993 Mumbai blasts flee and take shelter in “enemy territory”.Dawood, Tiger Memon and other key accused in the case fled to Pakistan soon after the serial blasts. The opposition at the time had accused the then Pawar-led Maharashtra government of being hand-in-glove with the underworld, a charge denied by Pawar and his associates.Without taking any names, Modi told the gathering, “Do you remember the blasts that took p...

ED arrests Chidambaram in INX Media case

NEW DELHI: After 55 days of CBI and judicial custody, the Enforcement Directorate (ED) on Wednesday arrested former finance minister P Chidambaram for custodial interrogation in the INX Media money laundering case. Chidambaram, who is in Tihar Jail, will be produced on Thursday before a special court which will decide the period of his ED custody.Top sources in the agency claimed they will question the senior Congress leader on the “fresh evidence” allegedly linking Chidambaram and his family members to undisclosed properties acquired abroad through shell companies registered in tax havens. These assets are in addition to the Rs 54 crore worth of properties and bank deposits the agency attached in the UK, Spain and India in the INX Media case, sources said.The ED urged the spec...

Correct historical wrong: Hindu parties plead SC

NEW DELHI: With just two more days to go before arguments in the Ayodhya land dispute case concludes, the Hindu parties pleaded with the Supreme Court on Tuesday to “correct a historical wrong” committed by Mughal invader Babur by erecting a mosque at the birthplace of Lord Ram.Appearing for Hindu parties, former attorney general K Parasaran told a bench of Chief Justice Ranjan Gogoi and Justices SA Bobde, DY Chandrachud, Ashok Bhushan and S Abdul Nazeer that Hindu kings never went beyond the boundaries of India to invade foreign lands but India suffered multiple invasions. “The richest country in the world has been reduced to poverty and difficulties because of the invaders,” he said.While pleading for a decision in favour of the Hindu parties for construction of a...

2 depositors of crisis-hit PMC Bank die in 24 hrs

MUMBAI: Two depositors of crisis-hit PMC Bank have died in the last 24 hours. Mulund depositor Fattomal Punjabi, 61, died of a heart attack on Tuesday after 51-year-old account holder Sanjay Gulati’s demise from a cardiac arrest in Oshiwara on Monday. Fattomal Punjabi ran an electrical hardware store in Mulund Colony and ferried schoolchildren in vans. Over the past few weeks, he was under pressure to pay vendors as his working capital was frozen in his current account. Punjabi would regularly visit the bank’s branches and attend protests, said a PMC Bank depositors‘ group from Andheri East. Punjabi’s life savings were held up in PMC, his neighbour told TOI. “I believe he had Rs 8-10 lakh in his current account and a couple of fixed deposits,” he said. T...

INX case: Court allows ED to quiz Chidambaram in jail, arrest if needed

NEW DELHI: A special court on Tuesday granted permission to the Enforcement Directorate (ED) to visit Tihar Jail and interrogate former Union finance minister P Chidambaram in the INX Media money laundering case. Depending on the outcome of its interrogation, the agency can take a call on arresting him, the court said.Special judge Ajay Kumar Kuhar said the ED could arrest someone accused of money laundering without the court’s intervention if it had sufficient evidence. In the event of the accused already being in custody in some other case, permission would be required for interrogation, he clarified. “Such interrogation with the permission of the court may result in the arrest of the accused in the case, if circumstances so justify,” he said.Representing the agency, so...

Mirchi deal: ED summons Praful; he denies link

MUMBAI: On a day when the Enforcement Directorate issued a notice to Praful Patel to appear before it on Friday, the former civil aviation minister denied allegations of a financial deal between a company promoted by his family and the family of Iqbal Memon “Mirchi”, the late drug lord and a close aide of Dawood Ibrahim.Home minister Amit Shah had, on Monday, told Times Now that the deal was “nothing short of treason”.At a press conference on Tuesday, Patel said an agreement to provide alternative accommodation to Hajra Iqbal Memon, Mirchi’s wife, was signed as per consent terms approved by Bombay HC on May 28, 1999, but there was absolutely no financial transaction at any stage between her and his family-promoted Millennium Developers.Patel said in the last o...