Fugitive diamantaire Nirav Modi fled India in January 2018 only days before the epic Punjab National Bank (PNB) Swift scam broke. Even as investigators swooped down on PNB, it was clear that Nirav Modi.. Sify - Published
Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated Punjab National Bank (PNB) of about Rs 14,000 crore through issuance of fraudulent letters of undertaking... IndiaTimes - Published
The anti-money laundering agency has provisionally attached a factory worth Rs 13 crore in Thailand—Abbeycrest (Thailand) Ltd—a Gitanjali group company of scam accused Mehul Choksi in the Rs 13,600.. IndiaTimes - Published
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. IndiaTimes - Published
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.. DNA - Published
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.. Sify - Published
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.. DNA - Published
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,.. IndiaTimes - Published
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.. DNA - Published
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.. DNA - Published
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. IndiaTimes - Published
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.. DNA - Published
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.. IndiaTimes - Published
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.. DNA - Published
*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.. DNA - Published
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). IndiaTimes - Published
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.. DNA - Published
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.. DNA - Published
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.. Firstpost - Published
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.. All India Radio - Published Also reported by •DNA
In a shocking incident, 9 minor boys between the age of 10 and 15 years of age were arrested for stealing 27 two-wheelers worth Rs 7.6 lakh. The boys had been stealing bikes from Mumbai and Thane area.. Mid-Day - Published
Gitanjali group owner Mehul Choksi and Allahabad Bank CEO Usha Ananthasubramanian along with 13 others were today charged by the CBI for alleged cheating and corruption in the issuance of fraudulent.. DNA - Published
Scam-hit Punjab National Bank (PNB) on Tuesday rattled the banking sector with a twin blow of two mammoth figures.
The second largest state-owned bank came up with a loss figure of Rs 13,416.91.. DNA - Published
De Beers, the world's largest diamond producer, has said the business in the country will continue to grow this year despite dampened sentiments following Nirav Modi-led PNB fraud.
"There has been.. DNA - Published
The non-performing assets (NPA) mess is far from over in the banking sector. But with the regulator keeping a hawk-like vigil over the banks' books, there is no escape for them but to declare the.. DNA - Published
A financial fraud of nearly Rs 51 crore at a Mumbai branch of a nationalised bank is the latest addition to the growing list of scams that have hit Indian banks.
The Central Bureau of Investigation.. DNA - Published
An official from the Bank told ANI that it would approach the courts of other countries where Nirav Modi and his uncle, Mehul Choksi have assets and businesses.
For those unversed, PNB had detected.. DNA - Published
Even as the Central Bureau of Investigation (CBI) is probing billionaire jeweller Nirav Modi and his uncle Mehul Choki in Punjab National Bank scam worth Rs 13,910.02 crore, another scam of Choksi's.. DNA - Published
Global software major Wipro's Chief Strategy Officer Rishad Premji has been appointed the new Nasscom Chairman for 2018-19, said the Indian IT industry's apex body on Tuesday.
"Rishad Premji, the.. Mid-Day - Published
In the middle of the controversy surrounding the PNB fraud that involves jeweller Nirav Modi and his uncle Mehul Choksi, it has been reported that the Bengaluru police had failed to enforce a court’s.. DNA - Published
Punjab National Bank (PNB) will take care of problems emanating from Rs 13,000-crore fraud perpetrated by billionaire jeweller Nirav Modi on its own and will not seek any governments assistance, its.. Deccan Herald - Published
A special CBI court in Mumbai has issued non-bailable warrants (NBWs) against billionaire diamantaire Nirav Modi and his uncle Mehul Choksi in connection with the cases related to over $2 billion.. Deccan Herald - Published
Harun Rashid Khan was asked about the policy framework at the time when letters of undertaking (LoUs) were fraudulently issued by colluding PNB officials to Modi and Choksi; the statutory audit of the.. IndiaTimes - Published
The CBI today questioned former Deputy Governor of the Reserve Bank Harun Rashid Khan in connection with bank scams involving jewellers Nirav Modi and Mehul Choksi and relaxation of gold import rules.. Deccan Herald - Published
Punjab National Bank on Wednesday decided to honour LoUs worth Rs 6,500 crore, issued fraudulently to 7 lenders in favour of Nirav Modi and associates in connivance with bank officials.
Putting an.. DNA - Published
The Ministry of Corporate Affairs is considering legal options to try to stall bankruptcy proceedings in the US against diamantaire Nirav Modis group firm Firestar Diamond, amid stepped up action in.. Deccan Herald - Published
Punjab National Bank (PNB) plans to take part in the bankruptcy proceeding of Firestar Diamond, a group company of jewellery designer Nirav Modi who has been accused of defrauding the state-run bank of.. Deccan Herald - Published
*Mr. Anil Khaitan*, *President*, *PHD Chamber of Commerce and Industry* expressed his disappointment over RBI’s announcement on discontinuation of Letters of Undertaking (LoUs) and Letters of.. NewsVoir - Published
Scam-hit Punjab National Bank had issued as many as 41,178 Letters of Undertaking (LoUs) since 2011, of which 1,590 were given to Nirav Modi, Mehul Choksi and their associates, the finance ministry has.. DNA - Published