The scam-hit state-owned bank had asked the four group companies to pay the "outstanding dues" amounting to Rs 1045.88 crore "within days".
The central probe agency also conducted searches at 34 other locations in various cities, including Mumbai, Pune, Aurangabad, Thane, Kolkata, Delhi, Lucknow, Bengaluru and Surat, in connection with its probe.
The company's Vice President (Compliance) and Company Secretary Pankhuri has resigned with effect from February 13, while Karkare has resigned from the post of CFO effective from February 15, Gitanjali said in a regulatory filing.
Former MD Srivastava has alleged the company would even pass off fake diamonds as natural ones.
The stock tumbled 9.99 per cent to Rs 33.80 -- its lower circuit limit -- on BSE. At NSE, shares of the company plunged 9.87 per cent to hit its lowest trading permissible limit of Rs 33.75. In four trading sessions, the stock has lost over 46 per cent, wiping out Rs 344 crore from its market valuation.
In March last year, a whole-time member of SEBI had passed an order calling for an investigation into the alleged manipulation of Gitanjali Gems shares
While PNB did not name the other lenders, besides Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB
The ED yesterday carried out multiple raids on showrooms, workshops, offices and residences of Modi and Choksi and seized diamonds, jewellery and gold worth Rs 5,100 crore.
On February 14, Punjab National Bank (PNB) disclosed that it has detected some fraudulent transactions with financial implication of about Rs 11,346 crore.
‘Stay away from PSU banks’, which is the word coming from experts on D-Street. The concern of most analysts is that nobody knows if it is the beginning or the end.
Punjab National Bank yesterday detected some fraudulent transactions with financial implication of USD 1.77 billion (about Rs 11,346 crore) and the matter has been referred to law enforcement agencies for the recovery.
Nakshatra World has received approval from capital markets regulator SEBI to launch initial public offering.
PC Jeweller and Titan Company gained as much as 3 percent while Gitanjali Gems and Tribhovandas Bhimji Zaveri climbed nearly 5 percent.
The Indian rupee appreciated more than 3 percent against US Dollar so far in the year to Rs 65.45/USD which was closer to a 17-month high of 65.36, a level which was last seen on October 30, 2015.
Nakshatra World filed its draft red herring prospectus to the Securities and Exchange Board of India and the stock exchanges. The company had announced its intention to raise Rs 650 crore.
Nakshatra World filed its DRHP with the Securities and Exchange Board of India (SEBI) and the exchanges on Wednesday. The company had announced intentions to raise Rs 650 crore in an exchange notification in December 2016.
Sameet Chavan of Angel Broking is of the view that one may buy Indiabulls Real Estate with a target of Rs 92.
Tata Motors | Sun Pharma | DLF | Cadila Health | Jindal Steel | SpiceJet | Adani Enterprises | MOIL | Cox & Kings | HDIL | Liberty Shoes | Voltas | National Fertilisers | Ashiana Housing | Power Mech | Intellect Design Arena are stocks, which are in the news today.
Net income fell to Rs 1,925.08 crore in October-December of 2016-17, from Rs 2,641.12 crore in the previous year, said the company in a BSE filing.
On February 7, 2017 UNO Metals Limited bought 6,40,000 shares of Gitanjali Gems at Rs 69.63.
Gems and jewellery stocks gained 1-4 percent Wednesday on hopes that Finance Minister Arun Jaitley may announce some measures to boost the sector.
On January 30, 2017 UNO Metals Limited sold 11,00,000 shares of Gitanjali Gems.
On January 27, 2017 UNO Metals Limited sold 9,60,000 shares of Gitanjali Gems.
India is known for its export of high value added gold products and not cut and polished diamonds. So they have enjoyed very high margins, says Agarwal.
On BSE, the stock opened at Rs 65.20 and soared 9.89 percent to touch an early high of Rs 68.85. At 1320 hours, it was trading at Rs 66.60, up 6.30 percent from the previous close.