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94,000 cars in Portugal affected by Volkswagen scandal

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Lisbon: At least 94,000 cars in Portugal with illegal software have been affected by the Volkswagen scandal, the media reported.

SIVA, which represents several brands in Portugal, including Skoda and Audi, said in an official statement on its website that cars equipped with Euro 5 motors will be affected, a reported on Wednesday.

“Technical solutions are being developed and will be presented in October,” the company said.

Volkswagen, Europe’s biggest car maker, revealed on Tuesday that it would repair up to 11 million vehicles with fraudulent equipment after it was caught cheating emissions tests.

Germany is investigating the company’s ex-boss Martin Winterkorn, with the company admitting it has faked tests in Europe as well as in the US.

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CBI raids at 169 places across nation in bank fraud cases worth 7000 crore

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New Delhi: The CBI is conducting searches in 169 locations across the country in connection with 35 bank fraud cases, which were registered by it and involve funds of over Rs 7,000 crore, officials said on Tuesday.

The searches are going on in Delhi, Gurgaon, Chandigarh, Ludhiana, Dehradun, Noida, Baramati, Mumbai, Thane, Silvassa, Kalyan, Amritsar, Faridabad, Bengaluru, Tirupur, Chennai, Madurai, Quilon, Cochin, Bhavnagar, Surat, Ahmedabad, Kanpur, Ghaziabad, Bhopal, Varanasi, Chandauli, Bhatinda, Gurdaspur, Morena, Kolkata, Patna, Krishna and Hyderabad, they said. The agency refused to give further details as the search operations are still going on, they said.

Among the alleged frauds being probed by the agency are SEL Manufacturing in Bank of Maharashtra worth Rs 113.55 crore, Advance Surfactants in SBI worth Rs 118.49 crore, Eskay Knit worth Rs 42.16 crore in Dena Bank (now Bank of Baroda), Krishna Knitwear Technology worth over Rs 27 crore in Canara Bank, they said.

The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra, Bank of India, and Punjab and Sind Bank, they said.

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