PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm

20 May 2024 CW Team

The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.

The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 crore were transferred to various accounts via internet banking, leading to a significant loss for PNB.

The fraudulent activity was uncovered through an analysis of bank system login details and CCTV footage, revealing that Mukul Singh facilitated the unauthorized transfers. Following the discovery, the CBI conducted searches at the premises of both accused individuals and registered an FIR.

This case highlights the vulnerabilities within banking systems and the need for stringent oversight to prevent such fraudulent activities. The ongoing investigation by the CBI aims to ensure accountability and recover the embezzled funds.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..