The affidavit says Choksi is a "most intelligent and powerful influential identity and has hired a whole legal team for the purpose of doing systematic fraud".
India’s nearly $1.7 trillion formal banking sector is coping with $210 billion of problem loans, and some regional banks have been ensnared in fraud scandals.
A report to the central government says Punjab National Bank had debated putting in place safeguards to prevent fraud in 2016, but put no systems in place.
Indian sampradayas have to institutionalise their knowledge and boil it down to essentials for transmission and proselytisation if they are to compete with the major Abrahamic sects.
On 4 November 2025, NCLAT bench, comprising Chairperson Justice Ashok Bhushan and Member Arun Baroka, noted that WhatsApp and Meta are distinct legal entities.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
The progressively larger MoUs signed in 2007, 2009 and 2013 sound like nothing so much as a Ponzi scheme. Senior mandarins would have known how little was happening on the ground. Beyond generating hype and headlines, all these glitzy investor summits do not translate into genuine, employment creating economic activity. Something like the delegations CMs lead, generally in late summer, to cooler climes. 2. The banking system has been hollowed out by so many industrious folk, it is just a matter of time before the government is faced with a 1991 like situation and lets go of the PSBs. Gyan Sangam in Poona, a promise there would be no more phone calls from Delhi, Indradhanush, Bank Boards Bureau, recapitalisation, nothing has clicked.
The progressively larger MoUs signed in 2007, 2009 and 2013 sound like nothing so much as a Ponzi scheme. Senior mandarins would have known how little was happening on the ground. Beyond generating hype and headlines, all these glitzy investor summits do not translate into genuine, employment creating economic activity. Something like the delegations CMs lead, generally in late summer, to cooler climes. 2. The banking system has been hollowed out by so many industrious folk, it is just a matter of time before the government is faced with a 1991 like situation and lets go of the PSBs. Gyan Sangam in Poona, a promise there would be no more phone calls from Delhi, Indradhanush, Bank Boards Bureau, recapitalisation, nothing has clicked.
Another Modi’s crony taking India to the cleaners. As usual various govt agencies suitably facilitated the family’s escape.
What do we do now except wish them luck?