CBI raids IVRCL, says incriminating documents recovered
The beleaguered infrastructure firm IVCRL
found itself in more troubled waters on Wednesday as the Central Bureau of
Investigation (CBI) filed a corruption case against debt-laden IVRCL, a listed
firm, its managing director Sudhir Reddy and others for an alleged bank
fraud of over Rs 4,837 crore, in a consortium
led by State Bank of India.
The company's officials are accused of
defrauding the consortium of eight public sector banks, including SBI, IDBI
Bank, Canara Bank, Andhra Bank, among others.
"It was alleged that the accused in connivance with unknown public servants and others defrauded the consortium of public sector banks, consisting of State Bank of India, IDBI Bank, Canara Bank, Andhra Bank, Corporation Bank, EXIM Bank, Punjab & Sind Bank, Union Bank of India and caused a loss of
Incriminating evidence was found at the
official and residential premises, CBI revealed.
The Hyderabad-based firm, which had executed major projects across the country, is under liquidation due to mounting debts and defaults.
Kvaser Launches PCIe 4xLIN Interface
Kvaser has introduced the PCIe 4xLIN, a compact four-channel LIN interface designed for deterministic communication, precise timing analysis and scalable validation setups. The low-profile PCIe card is built for desktop, industrial and hardware-in-the-loop environments.The Kvaser PCIe 4xLIN provides four individually galvanically isolated LIN channels through a single PCIe card. Its FPGA-based Kvaser LIN-IP technology supports communication of up to 20 kbaud with 1 microsecond timestamp resolution, helping engineers capture timing-sensitive events during testing, debugging and validation.The i..
Hyderabad Tops GCC Office Rental Index
The IIMB-CRE Matrix GCC Commercial Property Rental Index for Q1 calendar year 2026 has highlighted continued strength in India’s Global Capability Centre-led office market. The pan-India GCC Commercial Property Rental Index stood at 165, with Q1 calendar year 2014 as the base period.Hyderabad emerged as India’s highest-priced GCC office market with a GCC-CPRI of 212.1. The city recorded a 15 per cent rental premium for GCC occupiers over non-GCC tenants, supported by strong demand from large occupiers and mature office clusters.Pune followed closely with a GCC-CPRI of 210.7, while GCC occu..
Hindustan Zinc Programme Supports 47,000 Students
Hindustan Zinc has supported more than 47,000 students across rural Rajasthan since 2018 through its flagship Shiksha Sambal initiative. The programme covers 76 schools and provides year-round academic support with a focus on Science, Mathematics and English.The company recently concluded its ninth summer camp, benefiting over 1,600 students through residential and non-residential formats. The camps offered exposure to STEM, digital technologies, innovation, arts, sports and co-curricular activities, supported by volunteers from institutions including the University of Delhi and the Indian Ins..
Latest Updates
