Archive · 24 May 2025
Bank Fraud Cases: Mumbai Couple, Hyderabad Directors Booked
In two separate cases, authorities are investigating financial wrongdoing.
In Mumbai, a couple who own gyms are accused of defaulting on a 7 crore loan by selling mortgaged property and not repaying.
Meanwhile, in Hyderabad, two former directors are accused of a 75 crore fraud against Punjab and Sindh Bank by diverting funds meant for a hotel project.
The Hyderabad case involves a company resolved under insolvency, complicating the bank's recovery efforts.
A Mumbai-based couple is accused of defaulting on a ₹7 crore loan.
The couple mortgaged flats and gym equipment, selling a flat without bank knowledge.
The Mumbai bank is yet to recover ₹4.6 crore from the couple.
Two Hyderabad-based directors are accused of a ₹75 crore fraud against Punjab and Sindh Bank.
The funds in Hyderabad were for a hotel project but were allegedly diverted.
- Who
- A couple with a gym chain in Mumbai and two former directors based in Hyderabad
- What
- Cases of loan default and fraud leading to non-repayment of loans.
- When
- The loans were taken in 2013 and 2014.
- Where
- Mumbai and Hyderabad
- Why
- For alleged loan defaults and bank fraud
- Mumbai Case: Loan Amount
- ₹7 crore
- Mumbai Case: Assets Mortgaged
- Three flats and gym equipment
- Mumbai Case: Missing Funds
- ₹4.6 crore still owed
- Hyderabad Case: Loan Amount
- ₹75 crore
- Hyderabad Case: Bank
- Punjab and Sindh Bank
- Hyderabad Case: Project Location
- Neemrana, Rajasthan
- Hyderabad Case: NPA Date
- December 31, 2016
