Observing that Rajesh Sharma, chairman and managing director of city-based firm Money Matters, seemed to be the "kingpin" in the multi-crore kickbacks-for-loans scam, the Bombay High Court today rejected his bail plea.
LIC Housing Finance, which is in the eye of the loan scam, on Monday said that outstanding loans to the tune of Rs 389 crore are under the scrutiny of the Central Bureau of Investigation
The recent housing loan scam may end up deflating Mumbai’s overheated property market; realty analysts predict an imminent drop between 15 and 30 per cent.
Five of the Indian companies involved in the housing loan racket borrowed Rs 1,000 crore by bribing bank officials, news agencies reported on Thursday quoting two private TV channels.