#Icici Bank

[seemabhatnagar]

Freezing of bank account for unconnected entities is legally untenable.

M/s Jermyn Capital LLC Dubai v. Central Bureau of Investigation

Fact:

M/s Jermyn Capital LLC Dubai (#Appellant Company) was Permitted by Securities Exchange Board of India (#SEBI) to buy & sell share & securities in the #Indian Stock Market.

The appellant company had its shares in its account with #ICICI Bank.

However, due to certain litigation the appellant company quit the trading in the Indian Market in 2006.

But appellant company was subjected to 02 #freeze orders under section 102 #Cr PC. (This section empowers police officers to seize any property which gives suspicion for commission of any offence.)

The freeze order for an amount of Rs.42.51 crore was initiated because of the #pending #investigation against Dharmesh Doshi

Against the freeze order the appellant company approached the Apex Court & the #ApexCourt allowed the appellant Company to sell its shares & convert into cash and repatriate the funds with interest but without bank guarantee.

Rs. 42.51 Crore was repatriated.

Issue arose when appellant company was incapacitated by second freeze order for an amount of Rs. 38.52 crores to repatriate.

Aggrieved by the freeze the appellant company again approached the Apex Court.

 The Apex Court gave liberty to the appellant company to approach trial court for release of the said amount.

 The trial court allowed the repatriation of Rs.38.52 Crores subject to the #Bank Guarantee of an equivalent amount.

Aggrieved by the imposition of Bank Guarantee Clause the appellant Company approached High Court.

High Court confirmed the decision of Trial Court.

Against the order of the High Court present Criminal Appeal is filed before Apex Court.

Observation of the Apex Court:

 Imposition of Bank Guarantee clause as due to pending investigation against Dharmesh Doshi, alleged to have been connected with the appellant company.

Record shows that Dharmesh Doshi has been discharged by the trial court, was never an employee/shareholder/director or holding key managerial position in the appellant company.

Dharmesh Doshi & Appellant Company are 02 separate entities.

Freezing order as such not legally tenable when two entities are unconnected.

Neither in the FIR nor in the chargesheet filed against the Dharmesh Doshi, appellant company was named.

Further during hearing CBI informed the Apex Court that no criminal proceedings is pending against the appellant company pertaining the dispute discussed here.

The freeze order against the appellant company’s properties is redundant as the appellant company is not necessary for the conclusion of the investigation.

The purpose of the freeze order, and the bank guarantee in extension of the freeze order, can only be in operation to aid in the investigation against the alleged crime.

Since the investigation against the appellant company has become redundant as such freeze order has also become redundant.

 The operation of the freeze order has been active for a period of 17 years and has caused huge losses to the appellant company.

Decision:

The Division Bench of Hon’ble Mr. Justice Krishna Murari J & Hon’ble Sanjay Kumar J vide their order dt.09.05.2023 set aside the order of the High Court and permitted the appellant company to withdraw the said amount with 4% simple interest from May08, 2006.

Seema Bhatnagar

[gitakartecommerce]

ICICI Bank: The Digital Banking Revolution That Transformed India’s Financial Landscape-2025

Introduction: The Pillar of Modern Indian Banking ICICI Bank, India’s second-largest private-sector bank, is synonymous with innovation, inclusivity, and digital-first banking. From pioneering internet banking in the 1990s to launching AI-powered virtual assistants today, ICICI has redefined how millions of Indians save, invest, and transact. This deep dive explores ICICI Bank’s journey, its…

[jasspreepkaur303]

Explore the top ICICI Bank credit card with amazing benefits, features, and rewards. Learn how to maximize your savings, earn cashback, and enjoy exclusive offers.

[fincrif]

All You Need to Know About Personal Loans with FinCrif and Leading Banks

In a world where financial needs often arise unexpectedly, personal loans have emerged as a convenient and accessible solution. Whether it's funding a wedding, covering medical expenses, renovating your home, or consolidating debt, a personal loan provides the flexibility to address a variety of needs without pledging any collateral.

If you’re looking for a seamless way to access personal loans from trusted banks and financial institutions, FinCrif is your go-to platform. Partnered with top banks like HDFC Bank, ICICI Bank, Axis Bank, SBI, and more, FinCrif offers a personalized, fast, and reliable loan experience.

What Is a Personal Loan?

A personal loan is an unsecured credit product offered by banks and financial institutions that allows individuals to borrow funds for any personal financial requirement. Unlike other loans (such as home or car loans), personal loans do not require any collateral or asset as security. They are sanctioned based on the borrower’s creditworthiness, income, and repayment capacity.

Why Choose FinCrif for Personal Loans?

FinCrif simplifies the loan application process by partnering with over 60 banks and NBFCs, ensuring borrowers get the best offers available in the market. Here are some of the reasons why FinCrif is a preferred platform:

Wide Range of Lenders: FinCrif collaborates with banks like HDFC Bank, ICICI Bank, State Bank of India (SBI), Kotak Mahindra Bank, and Axis Bank, as well as NBFCs like Bajaj Finserv and Tata Capital.

Quick Disbursals: Loans are approved and disbursed within hours of verification, ensuring you never have to wait long.

Minimal Documentation: The entire process is paperless, requiring only a few key documents such as ID proof, income proof, and address proof.

Flexible Loan Options: Whether you need ₹50,000 or ₹50 lakh, FinCrif’s platform ensures you get loan options tailored to your needs.

Affordable Interest Rates: With interest rates starting as low as 10.25% per annum, FinCrif ensures affordability and transparency.

Personal Loan Offerings from Leading Banks

HDFC Bank Personal Loan

Interest Rate: Starting at 10.50% p.a.

Loan Amount: ₹50,000 to ₹40 lakh

Tenure: 12 to 60 months

Unique Feature: Special pre-approved offers for existing HDFC customers

ICICI Bank Personal Loan

Interest Rate: Starting at 11.00% p.a.

Loan Amount: ₹1 lakh to ₹50 lakh

Tenure: Up to 6 years

Unique Feature: Minimal documentation with quick approval

State Bank of India (SBI) Personal Loan

Interest Rate: Starting at 9.80% p.a.

Loan Amount: ₹25,000 to ₹20 lakh

Tenure: 6 to 72 months

Unique Feature: Low processing fees and exclusive offers for salaried individuals

Axis Bank Personal Loan

Interest Rate: Starting at 10.49% p.a.

Loan Amount: Up to ₹40 lakh

Tenure: 12 to 60 months

Unique Feature: High loan amounts with attractive interest rates

Kotak Mahindra Bank Personal Loan

Interest Rate: Starting at 10.75% p.a.

Loan Amount: ₹50,000 to ₹25 lakh

Tenure: 1 to 5 years

Unique Feature: Pre-approved loans for existing customers with quick disbursal

Bajaj Finserv Personal Loan

Interest Rate: Starting at 12.00% p.a.

Loan Amount: ₹1 lakh to ₹50 lakh

Tenure: Flexible tenure options up to 84 months

Unique Feature: Instant loans with no hidden charges

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Eligibility varies slightly across banks, but the general requirements include:

Age: 21 to 60 years (65 years for some banks)

Income: Minimum monthly income of ₹20,000 (₹25,000 for metro cities)

Credit Score: A good CIBIL score of 650 or above

Employment Status: Salaried or self-employed with stable income

Steps to Apply for a Personal Loan via FinCrif

Visit the FinCrif Website: Begin by visiting the FinCrif website or downloading the mobile app.

Enter Loan Requirements: Specify the loan amount, tenure, and purpose.

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Verification and Disbursal: Once verified, the loan is disbursed directly into your account within 3 hours.

Benefits of Choosing Personal Loans Through FinCrif

Transparency: FinCrif provides clear terms and conditions, ensuring there are no hidden charges.

Tailored Solutions: The platform’s AI-based algorithms match you with the best loan offers based on your profile.

Trust and Reliability: Trusted by millions, FinCrif disburses loans exceeding ₹250 crore monthly.

Convenience: The entire process, from application to disbursal, is 100% online.

Responsible Borrowing Tips

Borrow What You Can Repay: Avoid borrowing more than you need to minimize the repayment burden.

Check Your Credit Score: Maintain a good credit score for better loan terms.

Plan Your EMIs: Use a loan EMI calculator to assess affordability before applying.

Timely Payments: Pay EMIs on time to avoid penalties and maintain your credit health.

Conclusion

When financial needs arise, personal loans can be a game-changer, offering quick access to funds without any hassle. With FinCrif, you gain access to the best loan offers from leading banks like HDFC Bank, ICICI Bank, SBI, and Axis Bank, all under one roof. The platform’s user-friendly interface, competitive rates, and fast processing make it a preferred choice for millions of borrowers in India.

Visit FinCrif today to explore the best personal loan options tailored to your financial needs!

[parulverma30]

Best ICICI Credit Cards With No Annual Fee Benefits

Looking for a credit card that offers amazing benefits without any annual fee? ICICI Bank has some of the best options for you! These cards combine savings with exclusive rewards, making them a perfect choice for budget-conscious users. Explore the best ICICI credit cards with no annual fee to maximize your savings.

The ICICI Platinum Chip Credit Card is a standout option. It not only comes with zero annual fees but also offers exciting reward points on every transaction, ensuring your spending always brings something back. Another great choice is the ICICI Amazon Pay Credit Card, ideal for online shoppers. With this card, you can enjoy cashback on Amazon purchases and earn rewards on other spends, all without worrying about an annual fee.

For those who love dining out, the ICICI Coral Credit Card offers attractive dining discounts along with other lifestyle privileges. Additionally, these cards come with features like contactless payments, robust security, and access to ICICI's excellent customer service.

Say goodbye to annual charges and hello to smart savings! Explore ICICI’s no annual fee credit cards today and make every transaction rewarding.

[imdnews1]

ICICI Bank शेतकऱ्यांसाठी: आर्थिक उन्नतीसाठी उपयुक्त योजना आणि सेवा

शेतकऱ्यांसाठी आर्थिक विकास साधण्याच्या उद्देशाने ICICI Bank ने विविध उपयुक्त योजना आणल्या आहेत. या योजनांमुळे शेतकऱ्यांना आर्थिक सहाय्य मिळते आणि त्यांच्या शेती व्यवसायात सुधारणा होते. या लेखात ICICI ब��केच्या योजनांची माहिती देऊन, त्याचा उपयोग ग्रामीण भागातील शेतकऱ्यांसाठी कसा होतो हे समजून घेऊ.

[prabhgill30]

Discover the top ICICI Bank credit cards with detailed insights on their benefits, features, and rewards. Choose the perfect card for shopping, travel, dining, and more. Explore this comprehensive guide to find the best ICICI credit card that suits your lifestyle and financial needs.

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Low Risk Investment Option – UBS ने इस भाव पर खरीदे HDFC Bank के करोड़ों शेयर, गोल्डमैन का दूसरे स्टॉक पर आया दिल

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[jasspreepkaur303]

Discover the key benefits of the ICICI Coral Credit Card, including reward points, dining discounts, complimentary lounge access, insurance coverage, and annual fee waiver. Enjoy exclusive perks on shopping, travel, and entertainment while managing your expenses effectively. Maximize your lifestyle with this versatile and rewarding credit card.

[townpostin]

Hotel Booking Fraud in Jamshedpur Leads to ₹90,312 Loss

Cybercriminals defrauded a woman from Sonari, Jamshedpur, during a hotel booking, stealing ₹90,312 from her bank accounts. Key Points: – Woman scammed during hotel booking from AP Tourism website. – Fraudulent withdrawals made from ICICI and SBI bank accounts. – FIR filed at Bistupur Cyber Police Station against unknown individuals. JAMSHEDPUR – A woman from Sonari, Jamshedpur, was defrauded of…

[gazetteweekly]

Chanda Kochhar: Pioneering Path in Banking

Chanda Kochhar, born Chanda Advani on November 17, 1961, in Jodhpur, Rajasthan, is a prominent figure in Indian banking. Her tenure as the managing director (MD) and chief executive officer (CEO) of ICICI Bank from 2009 to 2018 marked both significant achievements and tumultuous controversies.

Early Life and Education

Kochhar’s early years were shaped by her pursuit of academic excellence. She attended St. Angela Sophia School in Jaipur before moving to Mumbai for higher education. At Jai Hind College, she earned a bachelor’s degree in commerce from the University of Mumbai. Kochhar furthered her studies by obtaining a master’s degree in management studies from the Jamnalal Bajaj Institute of Management Studies. Her academic prowess was recognized with prestigious awards, including the Wockhardt Gold Medal and the J. N. Bose Gold Medal.

Career

Chanda Kochhar’s illustrious career at ICICI Bank began in 1984 as a management trainee. She quickly ascended through the ranks, showcasing her expertise in project appraisal and monitoring. Kochhar played a pivotal role in establishing ICICI Bank during the 1990s, contributing to its growth and expansion. Her leadership was instrumental in the bank’s foray into retail banking and its strategic initiatives in various sectors.

In 2009, Kochhar assumed the role of managing director and CEO of ICICI Bank, overseeing its operations both domestically and internationally. Her tenure was marked by numerous accolades and achievements, including steering ICICI Bank to win prestigious awards such as the “Best Retail Bank in India” and earning personal recognition as the “Retail Banker of the Year” by the Asian Banker.

Recognition and Awards

Despite her professional success, Kochhar’s career was marred by allegations of impropriety and conflict of interest. In 2018, she resigned from her positions at ICICI Bank amidst allegations of favoritism towards the Videocon Group in lending practices. Subsequent investigations by authorities led to criminal charges against Kochhar, her husband Deepak Kochhar, and others, alleging financial irregularities and corruption.

Legacy and Controversies

Chanda Kochhar’s legacy as a trailblazer in Indian banking is overshadowed by the controversies surrounding her tenure at ICICI Bank. While her contributions to the banking sector earned her accolades and recognition, allegations of misconduct and legal proceedings tarnished her reputation and raised questions about corporate governance and ethics in India’s financial institutions.

Personal Life

Outside of her professional endeavors, Chanda Kochhar is a devoted wife and mother. She resides in Mumbai with her husband Deepak Kochhar, a wind energy entrepreneur, and their two children. Despite the challenges she faces, Kochhar remains committed to her family and continues to navigate the complexities of her personal and professional life with resilience and determination.

[theleadersglobe]

ICICI Bank Facilitates Seamless UPI Payments for NRI Customers Across 10 Countries

ICICI Bank’s recent collaboration with the National Payments Corporation of India (NPCI) introduces an innovative solution, enabling Non-Resident Indian (NRI) customers to utilise their international mobile numbers for instant UPI payments in India. This groundbreaking service caters to NRIs residing in 10 countries, including the USA, UK, UAE, and Canada, enhancing banking accessibility and convenience across borders.

Streamlined Process for NRI UPI Payments

With this initiative, NRI customers can effortlessly conduct various transactions, including utility bill payments and e-commerce transactions, using their international mobile numbers linked to their NRE/NRO bank accounts with ICICI Bank in India. Leveraging the bank’s mobile banking app, iMobile Pay, NRIs can now activate the UPI facility on their international mobile numbers seamlessly, eliminating the previous requirement of registering an Indian mobile number for UPI payments.

Read More:(https://theleadersglobe.com/money/icici-bank-facilitates-seamless-upi-payments-for-nri-customers-across-10-countries/)

[prabhgill30]

Top ICICI Bank Credit Cards: A Complete Guide

Looking for the best ICICI Bank credit cards? Our comprehensive guide has you covered! ICICI Bank offers a wide range of credit cards tailored to different needs, including shopping, travel, dining, and more. Whether you’re a frequent traveler, an online shopper, or someone who loves dining out, there’s an ICICI credit card for you.

ICICI Bank credit cards come packed with exciting benefits like cashback, reward points, travel perks, and exclusive discounts. For instance, the ICICI Coral Credit Card is perfect for everyday needs, offering great discounts on dining and movies. Meanwhile, the ICICI Sapphiro Credit Card is ideal for premium customers seeking luxury benefits like travel insurance, airport lounge access, and global offers.

Choosing the right ICICI Bank credit card can help you maximize savings and enjoy unmatched perks. Explore options that fit your lifestyle and make the most of what ICICI Bank has to offer. Start your journey with the perfect ICICI Bank credit card today and enjoy a rewarding financial experience!