Tag: Pnb Fraud

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 […]

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/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 […]

New Delhi: Key accused in the PNB fraud case, Mehul Choksi on Monday said that the actual culprits of the Rs 14,000 crore fraud are roaming free and being protected, while he has been implicated without any evidence. In a statement, Choksi accused Debajyoti Dutta, proprietor of Rishika Financials and Gokulnath Shetty, Deputy Manager of […]

New Delhi: The Enforcement Directorate (ED) on Saturday rejected a plea by fugitive diamantaire Mehul Choksi that he should be questioned in Antigua because of his health condition and said it can arrange air ambulance with medical experts to bring him back to India for interrogation in connection with the PNB fraud case. Choksi, who […]

Antigua/New Delhi: Bank fraud fugitive Mehul Choksi may be extradited to India after Antigua’s Prime Minister Gaston Browne said the citizenship of the billionaire diamond trader will be revoked by the Caribbean country after he exhausts all his legal options, according to a media report. Choksi, 60 and his nephew Nirav Modi, who is currently […]

New Delhi: The Enforcement Directorate on Thursday said it has attached four Swiss bank accounts of fugitive businessman Nirav Modi and his sister Purvi with a balance of Rs 283 crore in its investigation into the Rs 13,500 crore Punjab National Bank (PNB) fraud. A senior ED official told IANS: “We have attached four Swiss […]

New Delhi: The Enforcement Directorate (ED) attached immovable properties, valuables, vehicles and bank accounts with a total value of Rs 24.77 crore of fugitive diamond trader Mehul Choksi. The action was taken under the Prevention of Money Laundering Act, 2002 in connection with the Punjab National Bank fraud case. The ED has attached three commercial […]

London: Fugitive diamantaire Nirav Modi, wanted in connection with the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, will appear before a UK court via videolink from his London prison on Thursday for a routine call-over remand hearing. The 48-year-old, who is fighting extradition to India at Westminster Magistrates’ Court, […]

London: Fugitive diamond trader Nirav Modi, who is fighting extradition to India on charges over the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, on Thursday was remanded to prison until November 11 after he appeared via videolink from his London jail for a regular remand hearing. Westminster Magistrates’ Court […]