Credit Card Fraud Transactions: In today’s time, digital transactions have increased rapidly from UPI to credit cards. Many types of offers are given by banks on credit cards from time to time, but sometimes there are complaints of credit card holders being harassed by recovery agents. One such case reached Delhi High Court, where a person named Sarwar Raza got great relief. Fake transactions worth Rs 76,777 were made from his credit card through Paytm, Flipkart and other platforms. Raza told the court that despite giving information to the bank, the bank sent him a notice and sent a collection agent to his house.

Big relief from court

According to the Economic Times, Raza had filed a complaint with the RBI twice, but both times the complaint was rejected. The first complaint was made through an advocate, while the second complaint was rejected because he had complained directly to the RBI instead of the bank. After a long legal process, the Delhi High Court ruled in Raza’s favor and directed the bank to pay him Rs 1 lakh to compensate him for the trouble he faced.

Additionally, the court ordered that the amount of all fraudulent credit card transactions be refunded and Raza’s CIBIL score be restored to its previous state.

What is the whole matter?

The whole matter was that Raza, who is himself an advocate in Delhi, was issued a credit card by Citi Bank in January 2022. On April 5, 2022, the online password of his card got disabled due to several wrong attempts. On the same day the bank issued a second credit card and deactivated the first card. The surprising thing was that Raza’s mobile number was also changed on the request of the fraudsters, although Raza had no knowledge about it. He told that the second credit card was issued without his knowledge.

Raza complained to the bank customer care, but was told that the new card would not be reflected in the bank records until it was activated. On April 6, fake transactions were done with this unactivated card. Due to change of mobile number no alert reached Raza. When he received his statement on April 12, he discovered these transactions—even though he had never activated the card.

Read this also: Big fall in shares of IndiGo amid crisis since last seven days, brokerage firm said – this is a big opportunity to buy, told the target price

ED Summons Anil Ambani: Reliance Group Chairman Anil Ambani’s problems have increased further in the bank loan fraud case. The Enforcement Directorate (ED) has sent a notice to Anil Ambani to appear for questioning again next week. ED has asked the 66-year-old industrialist to appear before the agency on November 14. He will be interrogated on charges of money laundering in the SBI bank loan fraud case. Earlier, ED had called Anil Ambani for questioning on August 5.

ED (Enforcement Directorate) has intensified the investigation into the fake bank guarantee racket related to Anil Ambani’s company Reliance Power. Investigation has revealed that the company had filled the tender for the government project SECI (Solar Energy Corporation of India), in which it was necessary to give bank guarantee. For this, Reliance Power had entrusted this work to a company named Biswal Tradelink Pvt Ltd (BTPL) of Odisha.

what is the matter

The investigation found that the bank guarantee given by BTPL was fake, and in return Reliance Power had paid about Rs 5.4 crore to BTPL. The people involved in this fraud created a fake domain named s-bi.co.in by copying the real website of SBI (sbi.co.in). Through this, fake emails were sent, so that it seemed as if the bank guarantee had been issued by State Bank of India (SBI).

ED has arrested BTPL Managing Director Parth Sarathi Biswal. Investigation revealed that BTPL is a company formed only on paper – neither its actual office nor documents were found. Suspicious transactions worth crores of rupees were found in many secret bank accounts of the company. People associated with the racket used disappearing messages on Telegram app so that evidence could be destroyed.

Big questions before ED

Now ED is investigating – who approved the payment of Rs 5.4 crore to BTPL and why?

Was Anil Ambani aware of this fraud?

Who benefited from the fake bank guarantee?

Through which channels and people was the money transferred?

Since this case is directly related to Reliance Power and its affiliated companies, ED has called Anil Ambani for questioning so that his role can be clarified.

Big revelation of the racket – fake guarantee of Rs 68.2 crore

The ED investigation also found that Reliance NU BESS Limited and Maharashtra Energy Generation Ltd, which are Anil Ambani group companies, had also submitted fake bank guarantees worth Rs 68.2 crore to SECI. After this case, ED has also started re-investigation into the old financial fraud cases of Anil Ambani Group. Reliance Communications Ltd (RCom) accused of loan fraud of ₹14,000 crore. Case of fraud of Rs 1,050 crore registered against Canara Bank.

The government had told in Parliament that SBI has declared RCom as a ‘fraud account’, and preparations are being made to send a complaint to CBI. Overall, this case is not limited to just a fake bank guarantee – it raises serious questions on the financial transparency and management of Reliance Group.

Also read: New enthusiasm in the Indian rupee, rising from the low level in the ‘currency ring’ and giving a crushing defeat to the US dollar.