Tag: Nirav Modi

Mumbai: A PMLA court here on Saturday issued non-bailable warrants (NBWs) against absconder diamantaires Nirav Modi and his uncle and business partner Mehul Choksi in the Rs 12,600-crore (almost $2 billion) Punjab National Bank fraud. The NBWs, issued by the Prevention of Money Laundering Act court Judge M.S. Azmi, will facilitate the extradition of Modi […]

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 […]

New Delhi: Actress Priyanka Chopra has decided to cut ties with billionaire diamond trader Nirav Modi’s brand following the news about the alleged banking fraud carried out by him. “In the light of recent allegations, Priyanka Chopra has chosen to terminate her contract with the Nirav Modi brand,” a spokesperson of Priyanka, who was the […]

New Delhi: The Congress on Tuesday said the purported letter written by jeweller Nirav Modi, who is allegedly involved in Rs 11,300 crore PNB scam, smacks of arrogance and asked Prime Minister Narendra Modi and Finance Minister Arun Jaitley that if the letter is authentic, what action would be taken against him. It also asked […]

Mumbai: Shares of Gitanjali Gems extended losses for the fourth consecutive session on Monday — plunging almost 10 per cent to its lower circuit level at Rs 33.80 per scrip. The shares continued the plunge a day after the Enforcement Directorate (ED) conducted search operations in six franchise-based outlets located in four malls in Kolkata […]

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 […]

New Delhi: The NDA government on Thursday sought to distance itself from the financial fraud done by jeweller Nirav Modi, blaming the previous Congress-led UPA regime for influencing loans that became non-performing assets (NPAs) while asserting that the guilty will not be spared. Addressing a press conference, Law and Justice Minister Ravi Shankar Prasad said […]

Mumbai: Fugitive diamond merchant Nirav Modi, a prime accused in the PNB fraud case, told a court here Saturday that he cannot return to India due to safety concerns and also because his case has been politicised. Modi’s lawyer filed his reply to the Enforcement Directorate’s (ED) plea seeking to declare the diamond merchant a […]

Bhubaneswar: The Odisha government has scrapped the Rs 636-crore gems, jewellery, lifestyle and luxury goods park which was to be set up by Gitanjali Infratech Ltd, an official said on Friday. The development comes in the wake of the multi-crore PNB scam and there is no one from the company, owned by Mehul Choksi-run Gitanjali […]

Mumbai/New Delhi: The Enforcement Directorate (ED) on Saturday attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore in fresh action against the beleaguered jeweller in the alleged Rs 11,400 crore fraud in the PNB. The central probe agency said it has issued a provisional […]

Mumbai/New Delhi: The ED today said it has frozen mutual funds and shares worth Rs 94.52 crore of the Nirav Modi and Mehul Choksi groups in connection with a money laundering probe against them in the Rs 11,400-crore alleged fraud at the Punjab National Bank (PNB). It also seized nine high-end luxury cars of Modi […]

The latest rejection leaves Nirav Modi with one chance to make his case at a brief oral hearing in the high court with a renewed "leave to appeal" application for a judge to determine if it can proceed to a full appeal hearing.

The next time you go to a bank and find a pen worth the princely sum of Rs. 2 dangling from a string at the counter, you are bound to remember the Rs. 11, 500 crores that the nephew-uncle duo of Nirav Modi and Mehul Choksi managed to polish off neatly from the Punjab National […]

Fugitive diamantaire Mehul Choksi, wanted in a Rs 13,500 crore loan fraud in Punjab National Bank, has gone missing in Antigua and Barbuda where he has been staying since January 2018, the Royal Police Force of the Caribbean island nation said in a statement.