CBI arrests Abhijeet Group's Manoj Jayaswal & son: what led to his downfall?
There was once a time when the only private jet at the Nagpur hangar was a Rs crore Bombardier belonging to city-based businessman Manoj Jayaswal. The flashy businessman has now been grounded as he was arrested by the Central Bureau of Investigation in a bank fraud case.
The sleuths reportedly arrested Jayaswal, son Abhishek Jayaswal, promoters of Abhijeet Group and a former Canara official TL Pai for causing a loss of over Rs crore to Canara and Vijaya Banks. The Jayaswals were arrested from Kolkata, the city which houses the corporate office of the Abhijeet Group, one of the top bank defaulters in the country.
The promoters were booked by the agency in after complaint that the accused caused loss of Rs crore to Canara Bank and Rs crore to Vijaya Bank by siphoning off the money. This case is just a tip of the iceberg of the Rs 11, crore that Abhijeet Group-linked companies owe to 20 banks, something which has baffled many industry watchers for the group only came into being in
Since , the amount has reportedly turned into an NPA so much so that IDBI bank one of the lenders wanted to auctio
Coal Scam Case: Special Court Grants Bail To Businessman Manoj Jayaswal
The Rouse Avenue District Court in national capital granted bail to coal scam accused Manoj Kumar Jayaswal and others on Friday in a money laundering matter related to the coal scam case.
New Delhi: The Rouse Avenue District Court in national capital granted bail to coal scam accused Manoj Kumar Jayaswal and others on Friday in a money laundering matter related to the coal scam case.
The Special Judge Arun Bhardwaj in an order passed on Thursday said, &#;keeping in view the overall facts and circumstances of the case coupled with the submissions made and the fact that the accused persons were not arrested during the course of the investigation and there are also no allegations that they did not join the investigation, the interest of justice will be met if accused persons namely Manoj Kumar Jayaswal and Ramesh Kumar Jayaswal are ordered to be released on bail upon their furnishing a personal bond and a surety bond each in the sum of Rs.1,00,/- each, to the satisfaction of this court.&#;
However, it is directed that none of the accused persons shall leave India without the prior permission of th
A special court of Delhi&#;s Patiala House Court has discharged 3 accused Manoj Jayaswal, Ramesh Jaiswal and Abhijeet Infrastructure Limited in connection with the alleged wrongful receipt of coal block allotment letter and laundering of around Rs crore rupees.
The money was received by the Abhijeet Group as share application money and term loan from banks after having secured allocation of the Brinda, Sisai and Meral Coal blocks from the Coal Ministry.
Manoj Jayaswal and Abhijeet Infrastructure Ltd. were both represented by Advocate Vijay Agarwal before Special Judge Arun Bhardwaj. This is the first case of discharge granted in any case filed by the ED in coal block allocation related matters.
ED alleged that the company allotted shares at a premium of multiple times the value of the shares and thus inflated its net worth from 30 Crores at the pre-allocation stage to about crores after getting the coal block allocated and on the basis of the inflated net worth, obtained huge loans from banks.
It was alleged that after de-allocation of the block, the net worth of Abhijeet Group came down to minus 69 crores in the year
The ED’s case arose out of a CBI case relating to the
CBI arrests promoters of Abhijeet Group in Rs crore fraud
The CBI has arrested Manoj Jayaswal and Abhishek Jayaswal -- promoters of a major mining company Abhijeet Group -- along with a former DGM of Canara Bank for allegedly causing a loss to Rs crore to the bank.
Investigation has indicated that it is a “large-scale scam” in which 13 companies of Abhijeet Group took loans from over 20 banks and financial institution which allegedly turned into non-performing assets since resulting in outstanding loans of Rs 11, crore, CBI sources claimed.
“The agency has arrested promoters of Abhijeet Group Manoj Jayaswal and Abhishek Jayaswal and T L Pai, a former DGM of Canara Bank for defrauding in Canara and Vijaya banks of Rs crore,” CBI spokesperson RK Gaur said.
The agency had registered a case in against the accused for alleged criminal conspiracy and cheating.
An alleged loss to the tune of Rs crore (approx) to Canara Bank and Rs crore (approx) to Vijaya Bank was caused, the CBI had said after filing the FIR.
The agency had acted on the complaint of both the public sector banks alleging that the accused perpetrated fraud of Rs crore (approx) by fraudulently availing line of
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