Tamil Nadu's Nirav Modi? Businessman Bupesh Jain reportedly cheated 14 banks of Rs 824.15 crore

A bank scam has come to light in Tamil Nadu in which a businessman has reportedly cheated 14 banks of Rs. 824.14 crore. The accused is one Bupesh Kumar Jain who owns a firm named Kanishk Gold. Jain is said to have made profit illegally by misrepresenting and falsifying records, and diverting funds while keeping lenders in dark. State Bank of India (SBI) declared Jain's account as fraudulent and reported it to RBI on November 11, 2017