Rediff Logo
Home > Money > Business Headlines > Report
May 13, 2002 | 1140 IST
  Money Matters

 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff


 Secrets every
 mother should

 Your Lipstick

 Make money
 while you sleep.

 Bathroom singing
 goes techno!

 Search the Internet
 Sites: Finance, Investment

Print this page Best Printed on  HP Laserjets
E-Mail this report to a friend

Former chief of Seamen's PF held

BS Banking Bureau

A Mumbai magistrate has ordered police remand for Anup Kumar Gond, former commissioner of the Seamen's Provident Fund, till May 17.

The Central Bureau of Investigation, which is probing the Rs 93-crore hole in the fund on account of undelivered gilts, took him into custody on Sunday.

The CBI has registered a case against Gond and two brokers, including Home Trade chairman Sanjay Agarwal, for "siphoning" Rs 930 million from the Seaman's Provident Fund.

The CBI, which searched Gond's residential quarters on Saturday, found he owned five flats in Mumbai. These properties were acquired between 1998 and 2000.

Gond's passbooks showed he and his wife had savings bank deposits of Rs 1.2 million.

"We are treating this as a case of unaccounted wealth," CBI sources said, adding that the agency was also looking for Ketan Sheth of Giltedge Management Services.

Earlier, the director-general of shipping on Friday handed over the case to the CBI after it was discovered the fund did not have securities - government securities and bonds of public sector undertakings - worth Rs 930 million.

The money had been invested through brokers.

Powered by

Home Trade's Sanjay Agarwal surrenders
Home Trade, Giltedge in deals with seamen's PF
Cops analysing Home Trade computers
NDCCB ex-chairman's PCR extended; aides attack scribes
Home Trade burns 780-million hole in 7 Gujarat banks
Amravati co-op banks take Rs 92.4-million hits
State may ban gilt deals with brokers
Nagpur bank flouted rules on non-SLR bond deals too
NDCC board superseded, administrator appointed
NDCCB chairman arrested in gilts scam
Banks may sell Home Trade collaterals
RBI orders special audit of gilts deals
UCBs withdraw deposits from Nagpur bank
RBI may supercede two other co-op banks too
Maharashtra to inspect 630 urban co-op banks
The SEBI Story
The Rediff Budget Special
The Rediff-Business Standard Special