Tag: Pnb Fraud

Bhubaneswar: As part of its nationwide crackdown, the Enforcement Directorate (ED) today conducted raids on five prominent jewellery showrooms in Cuttack and Bhubaneswar in connection with the multi-crore PNB fraud, which is considered to be the biggest ever scam in the banking sector of the country. A team of ED officials raided three jewellery shops […]

New Delhi: The Enforcement Directorate on Tuesday said that it has arrested from Kolkata a director of a shell company of fugitive diamentaire Mehul Choksi in the Rs 13,500 crore Punjab National Bank (PNB) fraud case. “We have arrested Deepak Krishna Rao Kulkarni from Kolkata Airport on the basis of a Look Out Circular (LOC) […]

New Delhi :The CBI has sought the extradition of fugitive diamantaire Nirav Modi’s brother and Belgian national Neeshal Modi. A request has been forwarded to the Ministry of Home Affairs (MHA) for necessary action, an official said on Monday. “The request for extradition of Neeshal Modi from Belgium was shared with the MHA on Friday. […]

New Delhi: The Enforcement Directorate (ED) on Monday said that it has attached more properties of the absconding diamantaire Nirav Modi worth Rs 171 crore as part of its probe in the multi-crore Punjab National Bank (PNB) fraud. “During further investigation, more properties and bank accounts beneficially owned by Nirav Modi were unearthed. “And based […]

New Delhi: The Enforcement Directorate (ED) has issued summons to absconding diamantaire Nirav Modi’s father Deepak Modi, sister Purvi Mehta and her husband Mayank Mehta as part of its probe in the multi-crore Punjab National Bank (PNB) fraud, an official said here on Friday. The fraud was committed during 2011-17 by illegally issuing Letters of […]

New Delhi: The ED on Thursday seized over 34,000 pieces of jewellery valued at Rs 85 crore in connection with its ongoing probe against absconding businessman Mehul Choksi who is accused along with his diamantaire nephew Nirav Modi of defrauding the Punjab National Bank (PNB) of over Rs 1,300 crore, an official said. The seized […]

New Delhi: The Finance Ministry on Monday began the process to remove Allahabad Bank CEO and MD Usha Ananthasubramanian from the post after the CBI filed a chargesheet on her alleged role in the over Rs 13,000-crore PNB scam earlier in the day. Ananthasubramanian, who was the Managing Director and Chief Executive Officer of the […]

Beijing: China on Monday hinted it won’t push for fugitive Indian jeweller Nirav Modi’s arrest, who is suspected to be in Hong Kong, saying the Chinese autonomous region has its own set of judicial rules and India can deal with the authorities directly. India has reportedly asked Hong Kong to arrest the main accused in […]

New Delhi: The CBI on Friday questioned the Reserve Bank of India’s (RBI) former Deputy Governor Harun Rashid Khan in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said. Informed sources said Khan was also questioned in connection with alleged benefits to […]

New Delhi/Mumbai: The Central Bureau of Investigation (CBI) on Monday said it questioned a General Manager of the Treasury Division of Punjab National Bank (PNB) in connection with its ongoing probe into Rs 12,600-crore bank fraud case involving diamond jeweller Nirav Modi and his uncle Mehul Choksi of Gitanjali Group. “The agency officials today (Monday) […]

Mumbai: The recently announced escalation in the Punjab National Bank (PNB) fraud amount by Rs 1,300 crore is attributable to Nirav Modi’s uncle Mehul Choksi-owned Gitanjali Gems, the bank said in a clarification on Thursday. In a note to the stock exchanges, PNB said the latest fraud was committed on March 2, 2017. With this, […]

New Delhi: A Blue Corner notice was issued on Wednesday against diamond jeweller Nirav Modi and his uncle Mehul Choksi of Gitanjali Group in connection with the Rs 12,600-crore Punjab National Bank (PNB) fraud case, an official said. An Income Tax department official said the Blue Corner notice — to locate, identify or obtain information […]

Baharampur: Continuing her attack on the Centre over the multi-crore PNB fraud, West Bengal Chief Minister Mamata Banerjee on Monday alleged that there are “other banks” involved in such money laundering cases with their chiefs being protected by the BJP government. “We know everything. Not only the Punjab National Bank, there are other banks also and […]

New Delhi: The Enforcement Directorate (ED) on Sunday conducted searches at over 45 more locations in 15 cities across India in connection with the multi-crore Punjab National Bank (PNB) scam, an official said. The agency raided 10 places in Bengaluru, seven in Delhi, five each in Kolkata and Mumbai, four each in Chandigarh and Hyderabad, […]

New Delhi: In light of the massive Rs 11,300 crore ($1.8 billion) scam allegedly involving jeweller Nirav Modi that has hit state-run Punjab National Bank (PNB), industry chamber Assocham said on Sunday that the government should surrender its majority control of banks, which should be allowed to function like private sector lenders. In a regulatory […]