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PNB scam: CBI books retd officer in DA case

Shetty is key accused in the PNB scam involving fugitives Nirav Modi and Mehul Choksi as he issued letters of undertaking (LoUs) illegally in favour of their companies.He was arrested in February.
Credit: IndiaTimes - Published

Punjab National Bank to turn profitable in FY19; Nirav Modi scam a bygone: MD and CEO Sunil Mehta

Nirav Modi and his uncle Mehul Choksi duped PNB of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs), in connivance with certain bank officials.
Credit: Firstpost - Published

Swamy writes to Jaitley, seeking sanctions to prosecute Adhia for Nirav Modi, Choksi links

Senior Bharatiya Janata Party (BJP) leader Subramanian Swamy has written a letter to Union Finance Minister Arun Jaitley seeking permission to initiate proceedings to prosecute Finance Secretary..
Credit: DNA - Published

'Choksi diverted Rs 3,257 crore to foreign dummy companies'

Fugitive diamnond jeweller Mehul Choksi, wanted in the Rs 13,500-crore Punjab National Bank (PNB) fraud case, diverted over Rs 3,257 crore of the money raised from fraudently obtained letters of..
Credit: Sify - Published

Mehul Choksi diverted over Rs 3,250-crore to foreign shores : ED

An ED investigation has found that absconding jeweller Mehul Choksi diverted over Rs 3,250 crore funds, allegedly defrauded from a PNB branch in Mumbai, to foreign shores and he was in business of..
Credit: DNA - Published

Sister's UK flat 1st foreign attachment in Nirav case

The property worth around Rs 72 crore is believed to have been bought last year with money that Nirav Modi obtained from Punjab National Bank (PNB) through forged letters of undertaking (LoUs). The ED,..
Credit: IndiaTimes - Published

PNB, US Trustee seek probe into Mehul Choksi's US firm Samuels Jewelers

Fresh from a moral victory, Punjab National Bank (PNB) and US Trustee have now trained their guns at Mehul Choksi's Samuels Jewelers, seeking a probe into the US firm that has filed for..
Credit: DNA - Published

PNB fraud: Govt sacks ex-MD Usha Anathasubramanian

The government on Monday dismissed Usha Ananathasubramanian, who was three months ago divested of her powers as MD and CEO Allahabad Bank following the country's biggest bank fraud allegedly carried..
Credit: DNA - Published

If Choksi is in Antigua, is Nirav Modi in Malta?

Nirav Modi and Mehul Choksi are accused in the Rs 14,000 crore fraud that involved companies owned by them raising finance against letters of undertaking issued by the state-owned PNB.
Credit: IndiaTimes - Published

PNB loss cushioned by tax writeback, lower fraud provisioning

Punjab National Bank (PNB) on Tuesday reported a Rs 940 crore loss in the quarter ended June 30 as bad loans continued to haunt the bank. If it was not for a tax writeback of Rs 623 crore, the loss..
Credit: DNA - Published

Panel criticises RBI for Letters of Undertaking withdrawal

A Parliamentary panel on Monday criticised RBI for withdrawing the facility of Letters of Undertaking (LoUs), a sort bank guarantee for traders, and asked the regulator to reintroduce them at the..
Credit: IndiaTimes - Published

How this 'commonwealth' clause in Antigua Law can help India in bringing back Mehul Choksi

India is eyeing to bring back bank fraud accused Mehul Choksi from Antigua under the provision of a law of the island nation which provides for extradition of a fugitive to a designated Commonwealth..
Credit: DNA - Published

PNB scam: Senior executive of fugitive diamantaire Nirav Modi's firm gets bail

According to the CBI, the executive was aware of the fraudulent letters of undertaking (LoUs) issued by PNBs former deputy manager Gokulnath Shetty in favour of Modi's firms.
Credit: Firstpost - Published

Mehul Choksi citizenship: Police verification report was clear in 2017

*Antigua's assertion that India did not give any adverse report *to stall granting of citizenship to Mehul Choksi last year evoked sharp reactions from the authorities here with the government today..
Credit: DNA - Published

Brady House branch in Mumbai not to be closed, says PNB Bank

Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs
Credit: DNA - Published

No plans to close ops at Brady House branch: PNB

Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).
Credit: IndiaTimes - Published

Positive development for PNB in US bankruptcy case of Nirav Modi firm, says bank MD Sunil Mehta

Punjab National Bank MD Sunil Mehta has said there are "positive developments" in favour of the lender pertaining to bankruptcy case filed in the US by Nirav Modi's firm Firestar Diamond..
Credit: DNA - Published

PNB Fraud: Directors of five dummy companies set up by Nirav Modi earned between Rs 8,000 and Rs 30,000

The Enforcement Directorate in its report against jeweller Nirav Modi have said that owners and directors of at least five firms based out of Hong Kong earned only between Rs 8,000 and Rs 30,000 every..
Credit: DNA - Published

PNB fraud case: ED files first chargesheet against Nirav Modi, associates; expected to file another against Mehul Choksi

The criminal complaint has been filed against Nirav Modi, his associates and businesses and the entire gamut of issuance of fake Letters of Undertaking (LoUs) by Punjab National Bank (PNB) to his firms..
Credit: Firstpost - Published

PNB fraud case: CBI court orders issuance of non-bailable warrant against Mehul Choksi

A special CBI court has taken cognisance of the second chargesheet filed in the 12,636-crore rupees PNB fraud case and ordered the issuance of a non-bailable warrant against a key accused Mehul..
Credit: All India Radio - Published

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