PNB Fraud Case | The Asian Age

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PNB Fraud case Page-4

PNB Scam: Help sought from foreign lands

A Letter Rogatory or letter of request is a formal request from a court to a foreign court for judicial assistance.

03 Apr 2018 2:37 AM

Last month, Firestar Diamond, a company owned by Nirav Modi filed for bankruptcy in a New York court. (Photo: PTI)

PNB plans stake claim in insolvency proceedings of Nirav Modi companies

Following the scam, the Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance.

25 Mar 2018 11:24 AM

PNB fraud: ED raids Nirav Modi residence, paintings seized

Paintings of acclaimed artists like Amrita Sher-Gil, M.F. Hussain and K.K. Hebbar valued at Rs 10 crore have been seized.

25 Mar 2018 12:50 AM

Antique jewellery worth Rs 15 crore, costly watches valued at Rs 1.4 crore and paintings of acclaimed artists like Amrita Sher-Gil, MF Hussain and KK Hebbar valued at Rs 10 crore have been seized over the last three days under the PMLA. (Photo: Facebook)

PNB fraud: ED seizes jewellery, watches, paintings of Nirav Modi

ED along with the CBI launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai.

24 Mar 2018 2:38 PM

PNB fraud: Choksi refuses to join CBI probe again

A separate FIR against him and his company, Gitanjali group, had also been registered by the agency.

21 Mar 2018 12:26 AM

Choksi said he was unable to travel to India due to his persisting health condition. (Photo: File)

Totally defenceless due to exaggerated allegations, says Mehul Choksi

Clarifying that he was not making any excuse to travel to India, Choksi claimed that his passport is suspended.

20 Mar 2018 3:03 PM

Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB. (Photo: Facebook screengrab/NIRAVMODI)

Nirav Modi indirectly challenging PMLA case through his firm: ED to Delhi HC

Firestar Diamond International Pvt Ltd, which is named as one of the accused, has sought an interim stay of ED proceedings in the matter.

20 Mar 2018 10:42 AM

Union Home Minister Rajnath Singh questioned as to how they got the money in the first place. (Photo: PTI | File)

Rajnath defends BJP over Nirav Modi, Mallya case

Fugitive Economic Offenders Bill 2018 was proposed to confiscate the assets of a fugitive, including Benami assets.

18 Mar 2018 10:47 AM

Farmers in Ahmednagar district of Maharashtra claimed that fugitive jeweller Nirav Modi had acquired their lands at less than prevailing rates. (Photo: File)

Over 200 farmers in Ahmednagar reclaim land acquired by Nirav Modi

The land is among the properties attached by the Enforcement Directorate as a part of its probe against Modi who has fled the country.

18 Mar 2018 9:29 AM

The CBI has alleged that the firms controlled by diamond baron Nirav Modi and Mehul Choksi obtained fraudulent Letters of Undertaking (LoUs) and letters of credit (LCs) worth over Rs 13,000 crore from PNB in connivance with some officials of the bank. (Representational image)

11 accused in pnb fraud remanded in police custody

Modi's firms allegedly defrauded PNB of over Rs 6,500 crore, while Choksi's firms allegedly defrauded PNB of Rs 7,080 crore.

18 Mar 2018 7:27 AM

The Central Bureau of Investigation (CBI) has already registered two FIRs -- one on January 31 and another in February -- against billionaire Nirav Modi, his relative Mehul Choksi. (Photo: File)

There can't be parallel inquiry by courts, Centre tells SC in PNB fraud case

A bench headed by CJI was told by AG Venugopal that even before investigating agencies start probing case, people come to courts with PILs.

16 Mar 2018 3:21 PM

Punjab National Bank (PNB) has detected another small fraud at a Mumbai branch which is at the centre of Rs 12,600 crore fraud. (Photo: PTI)

PNB detects another fraud of Rs 9 Cr at branch involved in Nirav case

The new alleged fraud of around Rs 9.1 crore involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd.

15 Mar 2018 11:02 AM

The unravelling PNB fraud, the biggest in Indian banking history, has stunned the financial sector and pushed the RBI and government to crack down on bank systems and lending practices. (Photo: File)

PNB fraud: RBI guv Urjit Patel calls for more powers over state-run banks

Patel said there were numerous limitations in the RBI’s powers over state-run lenders.

15 Mar 2018 8:54 AM

The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas. (Photo: File)

PNB scam 'one-off incident': SBI chief rejects privatisation call

Earlier in February, Finance Minister Arun Jaitley had ruled out privatisation of banks.

14 Mar 2018 1:38 PM

CBI quizzes Firestar CFO in PNB scam

The bank alleged in its complaint that its Brady Road branch in Mumbai had extended credit faci-lities to Firestar group between 2013 and 2017.

13 Mar 2018 2:21 AM

"I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same," Choksi said. (Photo: File)

Persistent health problem, can't return to India: Choksi to CBI

As his passport has been suspended by the Government, he also demanded to know the reason behind the action.

08 Mar 2018 3:39 PM

The Congress leader alleged that what this government is doing is not only 'targeted vendetta' against the former finance minister, but also 'excessive vilification'. (Photo: PTI)

BJP charges against Chidambaram on PNB scam false and baseless: Cong

The former commerce minister also denied that any files were signed by the former finance minister on May 16, 2014, as alleged by Prasad.

07 Mar 2018 3:17 PM

PNB fraud 'sketchy': Delhi HC seeks ED’s reply on Nirav Modi plea

'The relevant records involved in the matter should be placed before the court on the next date of the hearing, March 19,' the bench said.

07 Mar 2018 12:11 PM

The bank initially reported to authorities on Jan 29 that the jewellery groups had defrauded it. On February 14, it said the fraud sum had reached Rs 11,400 crore after a detailed investigation. (Photo: PTI)

PNB fraud amount likely to swell beyond USD 2 bn mark

Investigators had not yet recovered all the papers and loan guarantees allegedly issued by rogue employees of the bank.

07 Mar 2018 10:52 AM

Congress communications in-charge Randeep Surjewala said India demanded that the 'Prime Minister switch from Neerav (silent) Modi i.e. 'Silent Modi' to 'Bol Modi'. (Photo: PTI)

Bank frauds worth Rs 54,000 cr took place under BJP’s watch: Congress

'Fleece, flee and fly is the new mantra of fraudster under the Modi-led government's watch,' said Randeep Surjewala.

07 Mar 2018 8:41 AM

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Farrukh Dhondy