New Delhi: Retirement fund manager EPFO on Thursday decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
"As of now we have suspended further investments in the LIC Housing Finance. Safety of fund is our prime concern. We are doing so because CBI is investigating the case", Labour Minister Mallikarjun Kharge said.
Kharge, who was speaking after a meeting of the Central Board of Trustees (CBT)-- the highest policy making body of the Employees Provident Fund Organisation (EPFO)-- said the EPFO will not invest in LIC housing finance company till the CBI inquiry is not over.
LIC Housing Finance company is the subsidiary of LIC, the largest insurance company in India....more
03:53 PM, Dec 09, 2010
Mumbai: Market watchdog Securities and Exchange Board of India (SEBI) has initiated an investigation into possible front-running and insider trading in shares of over two dozen companies, including some blue chips, by entities and persons involved in the housing-finance scam unearthed by the Central Bureau of Investigation (CBI). The initial findings, when corroborated with the charges made by the CBI, indicate towards a lage-scale front-running deals or shares being purchased...
11:49 AM, Nov 26, 2010
Mumbai: Bankers have defended the loans given to companies named in the CBI charge sheet in connection to the bribes for loan scam saying these were performing loans and were sanctioned after due process. In its chargesheet, the CBI had named officials from the Bank of India, Punjab National Bank and even a board member of Central Bank of India for allegedly accepting bribes to sanction loans, causing worries that...
09:55 AM, Nov 26, 2010
New Delhi:The government on Thursday said the income tax department would look into the tax issues relating to the housing loan scam racket. Meanwhile, the deadline for the notices issued by the CBI to 16 companies who allegedly received undue favours in the multi-crore housing loan scam ends on Thursday. A day after the CBI arrested top public sector bankers, Punjab National Bank said that the bribery case is a...
09:51 AM, Nov 25, 2010