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  • Indian mission submits Nirav Modi extradition request to UK authorities Aug 04, 2018 04:59 PM IST

    Indian mission submits Nirav Modi extradition request to UK authorities

    The whereabouts of the billionaire jeweller remain unknown, but the Indian government had been informed by the UK's Crown Prosecution Service (CPS) in June that it can initiate extradition proceedings despite the uncertainty.

  • PNB scam: Senior executive of Nirav Modi's firm gets bail Aug 04, 2018 03:00 PM IST

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

    According to the CBI, Vipul Ambani was aware of the fraudulent letters of undertaking (LoUs) issued by PNBs former deputy manager Gokulnath Shetty in favour of Modi's firms.

  • Why the Caribbean is the playground of white-collar criminals Jul 30, 2018 12:47 PM IST

    Why the Caribbean is the playground of white-collar criminals

    Despite claims that applicants are vetted by the Interpol and other regional agencies for a history of criminal conduct, many economic offenders slip through the net to clinch residency permits in tax havens

  • Breakthrough for MCA, PNB in Nirav Modi case: US Bankruptcy court orders issue of summons to examine Modi, others Jul 27, 2018 03:59 PM IST

    Breakthrough for MCA, PNB in Nirav Modi case: US Bankruptcy court orders issue of summons to examine Modi, others

    The order also authorises gathering of documents from these individuals and others such as Ajay Gandhi and Kunal Patel

  • NCLAT upholds MCA's move to freeze assets of independent directors in PNB fraud case Jul 12, 2018 06:35 PM IST

    NCLAT upholds MCA's move to freeze assets of independent directors in PNB fraud case

    These directors belong to companies owned by Nirav Modi and Mehul Choksi

  • PNB scam: ED files prosecution complaint in court against Mehul Choksi Jun 28, 2018 09:40 PM IST

    PNB scam: ED files prosecution complaint in court against Mehul Choksi

    PNB detected a multi-crore scam, wherein diamantaire Nirav Modi and Choksi had allegedly cheated the bank to the tune of Rs 13,400 crore with the purported involvement of a few of its employees

  • UK confirms Nirav Modi's presence in Britain: Officials Jun 11, 2018 07:14 PM IST

    UK confirms Nirav Modi's presence in Britain: Officials

    Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating PNB, the country's second largest lender, to the tune of more than Rs 13,000 crore.

  • PNB fraud case: Govt asks boards of PNB & Allahabad Bank to take action against officials named in CBI chargesheet May 14, 2018 04:12 PM IST

    PNB fraud case: Govt asks boards of PNB & Allahabad Bank to take action against officials named in CBI chargesheet

    CBI has filed a chargesheet against former PNB managing director and CEO Usha Ananthasubramanian in relation to the transactions done by the bank with Nirav Modi

  • BoI has Rs 200 cr exposure in PNB scam, initiates proceedings: CEO May 08, 2018 03:26 PM IST

    BoI has Rs 200 cr exposure in PNB scam, initiates proceedings: CEO

    Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam of Rs 13,000 crore at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking (LoUs).

  • PNB scam: CBI may soon file charge sheet against those arrested May 02, 2018 06:08 PM IST

    PNB scam: CBI may soon file charge sheet against those arrested

    The agency has to file the charge sheet within 90 days of the arrest of those accused in the case, the officials said, adding that the CBI is likely to meet the deadline.

  • Govt approaches NCLAT, seeks power to attach properties of persons involved in PNB scam Apr 18, 2018 07:30 PM IST

    Govt approaches NCLAT, seeks power to attach properties of persons involved in PNB scam

    In a petition, the corporate affairs ministry has also sought to invoke powers including the removal of the management and recovery of undue gains.

  • Karnataka Assembly Elections: Congress says won’t cancel ticket given to Mehul Choksi's lawyer Apr 17, 2018 03:33 PM IST

    Karnataka Assembly Elections: Congress says won’t cancel ticket given to Mehul Choksi's lawyer

    Congress spokesperson Jaiveer Shergill denied the speculation that the Congress had put on hold the ticket of Mehul Choksi’s lawyer, HS Chandramouli.

  • COMMENT- Lessons not learned: India's scams amount to enemy action Apr 17, 2018 11:53 AM IST

    COMMENT- Lessons not learned: India's scams amount to enemy action

    The government’s claim each time a scam has taken place is that the law will take its own course. There is invariably a lot of sound and fury – signifying nothing

  • LoU ban to impact financial flexibility of importers: Ind-Ra Apr 04, 2018 06:40 PM IST

    LoU ban to impact financial flexibility of importers: Ind-Ra

    In the wake of Rs 13,000-crore PNB scam allegedly by diamond jewellery designer Nirav Modi and his associates through fraudulent LoUs, the central bank stopped banks from issuing the two instruments for trade credits for imports into India.

  • PNB objects to Nirav Modi-linked firms selling assets in US: Report Mar 30, 2018 04:27 PM IST

    PNB objects to Nirav Modi-linked firms selling assets in US: Report

    PNB has argued that the “truncated” sale of assets proposed by Firestar Diamond and other firms will affect the recovery of creditors.

  • ED begins process to stall bankruptcy proceedings of Nirav Modi’s Firestar Diamonds in US Mar 26, 2018 10:56 AM IST

    ED begins process to stall bankruptcy proceedings of Nirav Modi’s Firestar Diamonds in US

    The Enforcement Directorate is not sure of the foreign assets and properties held by Modi, but has issued letters rogatory to 15 countries seeking information about the assets held by Modi and Choksi.

  • Global payments message service SWIFT expands tracker facility Mar 24, 2018 11:44 AM IST

    Global payments message service SWIFT expands tracker facility

    SWIFT said GPI accounts for 10 percent of cross border payment traffic and is enabling more than a hundred billion dollars to be transferred across the world rapidly and securely every day

  • PNB scam case: Govt questions why it should tell Supreme Court about status of probe Mar 16, 2018 12:24 PM IST

    PNB scam case: Govt questions why it should tell Supreme Court about status of probe

    Attorney General KK Venugopal opposed a suggestion mooted by the top court that the government should submit a stays report on investigation in a sealed cover envelope.

  • ED seeks Interpol warrant against Nirav Modi, Mehul Choksi Mar 14, 2018 03:59 PM IST

    ED seeks Interpol warrant against Nirav Modi, Mehul Choksi

    Officials said the agency had sought issuance of the Interpol warrant against the two, based on court-issued non-bailable warrants obtained by it in a money laundering case.

  • CBI arrests Forever Diamond director Hasmukh Shah in Rs 7,000 crore scam Mar 12, 2018 11:33 PM IST

    CBI arrests Forever Diamond director Hasmukh Shah in Rs 7,000 crore scam

    Forever Diamonds owes Rs 2,121.82 crore to a consortium led by Punjab National Bank (PNB).

  • I-T dept uncovers Rs 5,200-cr fake diamond receipts; Mehul Choksi, Nirav Modi may be party to scam Mar 12, 2018 11:47 AM IST

    I-T dept uncovers Rs 5,200-cr fake diamond receipts; Mehul Choksi, Nirav Modi may be party to scam

    According to sources, Mehul Choksi and Nirav Modi also used these fake receipts to show fictitious revenue turnover in their books

  • Online petition against Nirav Modi gets over 1.18 lakh supporters Mar 09, 2018 07:26 PM IST

    Online petition against Nirav Modi gets over 1.18 lakh supporters

    Till the time of publishing this article, the petition had got 1,18,220 signatures.

  • ICICI Bank stock dips 3% on SFIO probe Mar 07, 2018 11:05 AM IST

    ICICI Bank stock dips 3% on SFIO probe

    Senior officials from private sector lenders ICICI Bank and Axis Bank appeared before SFIO yesterday with regard to a probe into the Rs 12,636-crore PNB swindle.

  • CBI arrests VP of Mehul Choksi's Gitanjali Group in PNB scam Mar 07, 2018 07:31 AM IST

    CBI arrests VP of Mehul Choksi's Gitanjali Group in PNB scam

    Chitalia was produced before a special CBI court here in the afternoon after he was detained at the airport and questioned by the agency. Judge S R Tamboli remanded him in CBI custody till March 17.

  • Shatrughan Sinha targets Modi govt on note ban, PNB scam, bad loans Mar 06, 2018 08:26 AM IST

    Shatrughan Sinha targets Modi govt on note ban, PNB scam, bad loans

    The Patna Sahib MP, who has been critical of his party as well as the government at the Centre for some time, also took a jibe at the prime minister's "pakoda" remark and borrowers defaulting on huge loans.

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