As part of the scheme, the bank issued up to 10 crore new equity shares to its employees at a discounted price of Rs 53.95 per share.
The last date for evincing interest in these accounts is December 10, Punjab National Bank said.
The crucial report was finalised eight months before the PNB scam came to light, but was not shared with other agencies as there was 'no protocol' for such sharing at that time
Referring to Nirav Modi's claims of "security threats" in India, the ED said these points are "irrelevant" to the case.
The S&P BSE Sensex lost over 1200 points while for the Nifty the cut was a little over 400 points or 3.7 percent since September 28.
Choksi is not fit to travel, so his statement can be recorded through video conferencing or ED officers can visit Antigua and take his statement, Choksi's lawyer told court.
The company had also raised a total of Rs 4,225 crore through commercial papers (CP) last month.
A cheap stock could remain cheap forever if the value is destroyed. Stocks like Gitanjali Gems never recovered from that cheap zone as the business was completely wiped out post the Nirav Modi crisis
With Rs 14,000 crore Nirav Modi episode getting out of scene, the bank is focussing on growth and recovery of bad loans, PNB Managing Director Sunil Mehta has said
Experts believe the decision to appoint a new board has improved the lenders’ chances of recovering their money, but haircuts are unavoidable.
According to the list of wilful defaulters who took loans of Rs 25 lakh and more, Kudos Chemie Ltd and Kingfisher Airlines were the major borrowers with an outstanding amount of Rs 1,301.82 crore and Rs 597.44 crore respectively.
"Both PNB and Indian Bank (the banks/the sellers) intend to sell their respective shareholding in Experian," said PNB Investment Services, which is managing the sale process for both the banks.
PK Varun, working as AGM in that branch, has been arrested by the Economic Offences Wing of Delhi Police in connection with this case.
On May 22 this year, after taking cognisance of the second charge sheet filed in the Rs 12,636-crore PNB fraud case by the CBI, the special court had issued the NBW against Choksi.
In what is dubbed as India's biggest bank fraud, diamond jeweller Nirav Modi and his uncle Mehul Choksi had fraudulently raised billions of dollars in foreign credit by conspiring with staff at Punjab National Bank.
The agency has attached assets worth Rs 700 crore of Modi and his family in the country till now.
The 62-year-old liquor baron’s claims of meeting Finance Minister Arun Jaitley before he left India two years ago has stirred a hornet’s nest
The bank's Stressed Assets Targeted Resolution Action Division, which is handling the sale of stressed assets to recover dues, has put on sale a total of 21 accounts
PNB said the submission of financial bids will be only through e-auction method which will take place on the bank's portal on September 20.
Nearly 2 months after Mehta-led committee proposed project Sashakt, the operating guidelines of the inter-creditor agreement to get all banks on board under the project have been finalised
The bank, which was hit with a massive Rs 14,357 crore fraud, has made a big leap in the recovery of funds.
They said a detailed request for issuance of the arrest warrant against Choksi by the global police body was sent in June, soon after the ED filed a charge sheet against him in a Mumbai court.
The notice, which acts as an international arrest warrant, states that Purvi Deepak Modi, 44, is required on charges of "money laundering". The RCN against her was requested by the Enforcement Directorate (ED), officials said.
SWIFT is the global financial messaging service, the wrongful use of which led to the biggest banking sector scam in Punjab National Bank, allegedly perpetrated by diamantaires Nirav Modi and Mehul Choksi