Latest news with #ESAF
Time of India
18 hours ago
- Time of India
Cops recover 39L out of 40L robbed sum
Kozhikode: In a significant breakthrough in the case of robbing Rs 40 lakh from a bank employee at Pantheerankavu near Kozhikode, police have recovered Rs 39 lakh of the swindled amount. Tired of too many ads? go ad free now The money, part of the amount robbed by accused Shibin Lal, was found packed in plastic and buried in a plot about half-a-kilometre from his house at Pallipuram near Pantheerankavu. The robbery took place on June 11 and Shibin Lal was arrested three days later. At the time of the arrest, only Rs 55,000 was recovered and Shibin Lal claimed to have handed over ₹45,000 to a third accused, Dinaranju alias Kuttappi. The second accused, Shibin Lal's wife Krishnalekha, and Kuttappi were arrested on June 23. Shibin Lal and Krishnalekha misled officials at ESAF Bank by claiming that they had gold worth Rs 40 lakh pledged at a private firm. They produced fake receipts and convinced the bank to give them Rs 40 lakh in cash to take over the pledged gold and mortgage at ESAF bank. The bank staff came to Pantheerankavu with the required cash to reclaim the pledged gold from the firm where he had pledged it. As the bank staff stepped out of the car, Shibin Lal snatched the cash from them and fled on a scooter parked nearby. Though Shibin Lal was interrogated twice after the incident, he consistently withheld the location of the remaining Rs 39 lakh. It was only during a third custodial interrogation that he confessed and revealed the location where he had buried the money. Police said shortly after the robbery that Shibin Lal switched off all three of his mobile phones. He set aside Rs 1 lakh for his expenses and secretly buried the remaining Rs 39 lakh in a private property, before escaping to Palakkad. Tired of too many ads? go ad free now Feroke ACP A M Siddique said the breakthrough came following a tip-off that someone had approached a private financial institution on Shibin Lal's behalf, asking whether a Rs 35 lakh one-time settlement could be made in lieu of an outstanding ₹80 lakh loan. Another lead came from CCTV footage in Kondotti area which showed Shibin Lal travelling without the bag. After that Shibin Lal was questioned again during which he revealed the actual location.
Time of India
a day ago
- Time of India
Pantheerankavu robbery: Cops recover Rs 39 lakh out of Rs 40 lakh robbed sum
Kozhikode: In a significant breakthrough in the case of robbing Rs 40 lakh from a bank employee at Pantheerankavu near Kozhikode, police have recovered Rs 39 lakh of the swindled amount. The money, part of the amount robbed by accused Shibin Lal, was found packed in plastic and buried in a plot about half-a-kilometre from his house at Pallipuram near Pantheerankavu. The robbery took place on June 11 and Shibin Lal was arrested three days later. At the time of the arrest, only Rs 55,000 was recovered and Shibin Lal claimed to have handed over ₹45,000 to a third accused, Dinaranju alias Kuttappi. The second accused, Shibin Lal's wife Krishnalekha, and Kuttappi were arrested on June 23. Shibin Lal and Krishnalekha misled officials at ESAF Bank by claiming that they had gold worth Rs 40 lakh pledged at a private firm. They produced fake receipts and convinced the bank to give them Rs 40 lakh in cash to take over the pledged gold and mortgage at ESAF bank. The bank staff came to Pantheerankavu with the required cash to reclaim the pledged gold from the firm where he had pledged it. As the bank staff stepped out of the car, Shibin Lal snatched the cash from them and fled on a scooter parked nearby. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 4BHK+Family Lounge+Utility room at 4.49Cr (All Incl)* ATS Triumph, Gurgaon Book Now Undo Though Shibin Lal was interrogated twice after the incident, he consistently withheld the location of the remaining Rs 39 lakh. It was only during a third custodial interrogation that he confessed and revealed the location where he had buried the money. Police said shortly after the robbery that Shibin Lal switched off all three of his mobile phones. He set aside Rs 1 lakh for his expenses and secretly buried the remaining Rs 39 lakh in a private property, before escaping to Palakkad. Feroke ACP A M Siddique said the breakthrough came following a tip-off that someone had approached a private financial institution on Shibin Lal's behalf, asking whether a Rs 35 lakh one-time settlement could be made in lieu of an outstanding ₹80 lakh loan. Another lead came from CCTV footage in Kondotti area which showed Shibin Lal travelling without the bag. After that Shibin Lal was questioned again during which he revealed the actual location.
News18
19-06-2025
- Automotive
- News18
ESAF Small Finance Bank Jumps 11% After Board Clears Rs 735-Crore NPA Sale To ARC
Last Updated: ESAF Small Finance Bank shares surged over 11% on Thursday to hit an intraday high of Rs 33.83 on the BSE ESAF Small Finance Bank shares surged over 11% on Thursday to hit an intraday high of Rs 33.83 on the BSE, after the Thrissur-based lender announced board approval for a major asset sale. The bank will offload a pool of non-performing and technically written-off loans worth Rs 735.18 crore to an asset reconstruction company (ARC). The sale includes Rs 362.43 crore in non-performing assets (NPAs) and Rs 372.75 crore in technically written-off accounts. ESAF SFB noted it has provisioning coverage of 90.15% against the total pool. The board has authorised the Asset Sale Committee of Executives to execute the necessary formalities. However, the name of the ARC and detailed terms of the transaction were not disclosed. In a separate development, ESAF Small Finance Bank also announced a strategic tie-up with Maruti Suzuki India to offer retail financing solutions. The two companies signed a memorandum of understanding (MoU) to finance new and used cars, as well as commercial vehicles. The partnership aims to enhance vehicle ownership opportunities, particularly for first-time buyers in tier-II and tier-III cities, by combining Maruti Suzuki's dealer network with ESAF SFB's lending capabilities. From a technical perspective, the stock's Relative Strength Index (RSI) stands at 43.8, suggesting it is neither overbought nor oversold. The MACD is positive at 0.7 but remains below the signal line. ESAF shares are trading below their 10-day, 20-day, and 200-day simple moving averages, but above the 50-day and 100-day SMAs. Over the past three months, the stock has gained around 13.5%, although it remains down 43% over the past year. ESAF Small Finance Bank currently commands a market capitalisation of approximately Rs 1,566.9 crore. ESAF Small Finance Bank, headquartered in Thrissur, Kerala, is a leading small finance bank in India focused on promoting financial inclusion, especially in rural and underserved areas. Originating as a microfinance NGO in 1992, ESAF transitioned into a full-fledged small finance bank in 2017. With over 770 branches across 24 states and a customer base exceeding 8 million, the bank offers a range of products including retail, MSME, agri, gold, and vehicle loans. Known for its strong rural presence—well above RBI's mandated 25% rural lending threshold—ESAF combines physical outreach with digital services. As of FY25, the bank reported strong deposit growth and maintained a healthy CASA ratio, despite recent asset quality challenges. ESAF is also eyeing future transformation into a universal bank, contingent on improving its asset quality and operational metrics. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
Time of India
13-06-2025
- Time of India
37-year-old arrested for stealing Rs 40 lakh from bank employee in Kozhikode
Kozhikode: A 37-year-old man has been arrested for allegedly stealing a bag containing Rs 40 lakh from a bank employee at Pantheerankavu in Kozhikode. Police arrested M Shibin Lal, a resident of Kaipalam, from Palakkad on Friday. The incident occurred last Wednesday outside Akshaya Financiers, a private financial firm, in Pantheerankavu, where Shibin snatched a bag containing the money from a staff member of ESAF Small Finance Bank and fled on a scooter. Shibin had approached the ESAF bank branch seeking money to reclaim gold pledged at another financial institution. After opening an account at the bank, the employee came to Pantheerankavu with the requested cash. As soon the bank employee stepped out of the car, the accused snatched the cash from them and fled on a scooter parked nearby at 1.30pm. Police had found that the accused had fabricated the story of him having pledged gold and had misled the bank employee using forged documents. According to police sources, efforts were on to recover the stolen money. Based on CCTV footage and mobile tower locations, police found that he had travelled from Thrissur to Palakkad. He was nabbed by a team led by Pantheerankavu SHO K Shaju and SI R Prashanth. During interrogation, the accused claimed that the bag contained only Rs 1 lakh. Police recovered Rs 55,000 and three mobile phones from him at the time of arrest. Police suspect he may have handed over the remaining money to someone else. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
NDTV
13-06-2025
- NDTV
Man Who Snatched Rs 40 Lakh From Kerala Bank Staff, Taken Into Custody
Kozhikode: A man, who was on the run for the past two days after snatching Rs 40 lakh from the bank staff, was taken into custody from near here by a team of Kerala Police on Friday. The accused was identified as Shibin Lal. Even though Lal is in police custody, the money has not been recovered yet. The incident took place on Wednesday, when Lal asked the local branch of ESAF bank that he wished to re-pawn his gold jewellery, held at a local cooperative bank here. According to the bank rules, they provide loans on the collateral security of gold and also take over gold loans held at other financial institutions. Lal thus convinced the ESAF bank staff to take over his gold pledged at a private financial institution in Kozhikode itself. As per the ESAF rules, when their officials carry cash to give to other banks, for every Rs 10 lakh, there should be two of their staff members who accompany it. Likewise, eight ESAF bank officials with Rs 40 lakh arrived at the private financial institution. Lal said just two officials needed to come into the office, and when they were walking towards it, in a flash, he snatched the bag containing the money and drove away on his two-wheeler. Soon, the police arrived, and the search began for Lal. A day later, the two-wheeler Lal used for the crime, a rented one, was found abandoned. On Thursday, the local police called in all the ESAF bank officials who had gone with the money and took statements from them. After picking up Lal, the police have started questioning him, and they are expecting that they will be able to recover the money that was stolen. Later in the day, the police are expected to produce Lal before a local court.
