Many people, including a large number of Goenkars in the mid East, lost a lot of money with the collapse of BCCI.
Creditors who last �16bn in the collapse of Bank of Credit and Commerce International 13 years ago drew a little blood in the High Court. Judge Nicholas Patten slammed Bank of India for 'ineptitude' for its part in the scandal and ordered it to pay �45m compensation. He ruled that its London manager had known BCCI's deposits were being used to defraud creditors and said India's sixth biggest bank had failed to carry out proper checks. Gabe saw this story on BBC News Online and thought you should see it. ** Bank of India faces BCCI payout ** Bank of India is ordered to pay $82m in compensation over transactions made in relation to the collapsed bank BCCI. < http://news.bbc.co.uk/go/em/fr/-/2/hi/business/3551049.stm > ** BBC Daily E-mail ** Choose the news and sport headlines you want - when you want them, all in one daily e-mail < http://www.bbc.co.uk/dailyemail/ > Cheers, Gabe Menezes. ########################################################################## # Send submissions for Goanet to [EMAIL PROTECTED] # # PLEASE remember to stay on-topic (related to Goa), and avoid top-posts # # More details on Goanet at http://joingoanet.shorturl.com/ # # Please keep your discussion/tone polite, to reflect respect to others # ##########################################################################
