After seized paintings belonging to Nirav Modi fetched the tax agencies more than Rs 54 crore, the enforcement directorate (ED) is likely to hold an online auction of the diamantaire’s 13 cars on April 18. “We will put out public notices of the auction.. likely to be conducted on April 18,”[Read More…]
Tag: Nirav Modi
Know all about Rs 10,00,000 ostrich hide jacket worn by fugitive Nirav Modi
When on Saturday, one of India’s most wanted fugitives Nirav Modi was spotted in London, one of the most remarkable observations was his jacket. The businessman was seen donning an expensive jacket made up of the Ostrich which was according to the Telegraph’s report could cost to the tunes of[Read More…]
Watch: Fugitive Nirav Modi spotted in London; lives in luxurious residence, conducts business as usual
Nirav Modi was spotted and questioned by reporter in London
Watch: Nirav Modi’s bungalow demolished by explosives
Mumbai: Fugitive billionaire Nirav Modi’ sea-facing bungalow Alibaug which has estimated to cost over Rs. 100 crore, of fugitive billionaire Nirav Modi was demolished with a huge quantity of explosives on Friday. The luxurious bungalow was spread over an area of 33,000 square ft. The house was illegally build and[Read More…]
DRT notices to Nirav Modi, family to recover Rs 7,000 cr
Mumbai: The Debt Recovery Tribunal (DRT) on Monday served notice to absconding diamantaire Nirav Modi, his family members and his companies to recover over Rs 7,000 crore in dues. The notices by the DRT-1 Registrar, A. Murali, came six months after the beleaguered Punjab National Bank (PNB) had moved the tribunal[Read More…]
Nirav Modi declared ‘proclaimed absconder’ in customs case
Mumbai: A Gujarat court on Thursday declared fugitive diamantaire Nirav Modi as a “proclaimed absconder” in a customs duty evasion case filed in March and ordered him to appear in person on November 15. In a public notification issued earlier in the day in newspapers, and also sent to government[Read More…]
Mehul Choksi’s passport issued without police verification: Mumbai Police
Mumbai: Mumbai Police on Saturday said the Regional Passport Office (RPO) here had issued a passport to the absconding diamantaire Mehul Choksi, one of the prime accused in the PNB fraud, after granting him a no ‘Police Verification Required (PVR) status. Accordingly, no PVR was generated for the passport, issued[Read More…]
PNB Fraud Case: Mehul Choksi given citizenship after NOC from India, says Antigua
Amid the many controversies over fugitive Mehul Choksi’s Antigua citizenship, the Antigua government had claimed that the government of India had given a clean chit to the diamond businessman Choksi, only after which, the citizenship was granted to him. The Antigua government has said that they were not given any[Read More…]
India Brings Fugitive Economic Offenders at par with Culpable Physical Offenders
The law is considered worthy if it evolves continually with the changing needs of the society. Last few years have seen a surge in the economic wrongdoers fleeing the country and taking refuge in the secure foreign settings. In the given circumstances, what Indian authorities could do was to pursue[Read More…]
Not afraid of being seen with an industrialist: Narendra Modi
Lucknow: Hitting back for the first time at critics who questioned his perceived friendly relations with corporates, Prime Minister Narendra Modi on Sunday said that unlike some people he was not afraid of publicly standing beside industrialists and business magnates because his intentions were noble. He said industrialists too contribute[Read More…]
PNB, SBI fine customers for not keeping minimum balance, collects Rs 151 crore
Punjab National Bank (PNB) has collected Rs 151.66 crore as penalty from its customers who could not maintain a minimum balance in saving accounts during the fiscal year 2017-18. “During 2017-18, a total penalty of Rs 1.51 billion has been recovered due to non-maintenance of minimum balance in 122,98,748 savings[Read More…]
PNB Fraud Case: Mehul Choksi claims to be lawful citizen of Antigua
Gitanjali Group of firms owner Mehul Choksi, involved in a Rs 14,000 crore Punjab National Bank (PNB) banking scam in India, confirmed through a legal response on Friday that that he moved to Carribbean nation of Antigua from the US weeks ago using a local passport. Fugitive Choksi claims he[Read More…]
Interpol issues Red Corner Notice against Nirav Modi
On the request of CBI, Interpol has issued a Red Corner Notice against absconding billionaire jeweller Nirav Modi in connection with billion dollar fraud Punjab National Bank (PNB) scam. Jeweller Nirav Modi and his maternal uncle Mehul Choksi are accused of defrauding the state run Punjab National Bank to the[Read More…]
ED attaches Nirav Modi’s properties worth Rs 25 cr
New Delhi: The Enforcement Directorate (ED) on Saturday said that it has attached properties worth Rs 25 crore of diamond jeweller Nirav Modi in connection with its ongoing probe into the Rs 13,540 crore PNB fraud case. An ED official told IANS that the searches were carried out on Thursday[Read More…]
CBI registers fresh Rs 321 crore case against Nirav Modi
New Delhi: The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013 and 2017. According to a Central Bureau of Investigation official, the case[Read More…]
Lok Sabha, Rajya Sabha adjourned amid protests against PNB bank fraud
New Delhi: The Lok Sabha and the Rajya Sabha were adjourned on Monday as soon as they met for the second part of the budget session of Parliament amid opposition protests over the Punjab National Bank fraud and special status to Andhra Pradesh. Soon, Parliament House to have a creche[Read More…]
RBI did risk-based supervision of bank every year: PNB
New Delhi: The Rs 12,600 crore fraud-hit Punjab National Bank on Thursday clarified that the Reserve Bank of India (RBI) had done risk-based supervision of the bank on an annual basis. “There have been reports in a section of media that Reserve Bank of India has not conducted any audit[Read More…]
PNB scam: Additional Rs 1,300 cr fraud revealed
Mumbai: The fraud-hit Punjab National Bank (PNB) has reported an additional Rs 1,300 crore unauthorised transactions, taking the estimated quantum to Rs 12,600 crore in the scam related to diamond trader Nirav Modi and owner of Gitanjali Gems, Mehul Choksi. In a 11.22 p.m., late night filing with the stock exchanges[Read More…]
PNB fraud favouring Nirav Modi started in 2008, arrested bank officials tell CBI
New Delhi: The practice of illegally issuing Letters of Understanding (LoUs) and Foreign Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008 and continued till these were discovered in January this year, according to CBI officials. The illicit activities resulting[Read More…]
PNB fraud: ED seizes luxury cars, more assets of Modi, Choksi
New Delhi/Mumbai: The Enforcement Directorate on Thursday said it has seized nine high-end luxury cars belonging to Nirav Modi besides crores of assets in connection with its ongoing probe into the Rs 11,300 crore Punjab National Bank fraud case. Coming down on the diamond czar, the ED seized one Rolls[Read More…]
Singhvi gets IT notice for Nirav Modi purchases
New Delhi: The Income Tax Department on Tuesday said an “inquiry notice” was sent to Congress leader Abhishek Manu Singhvi’s wife Anita who had allegedly bought diamonds and jewellery worth Rs 6.5 crore from a store owned by fugitive Nirav Modi. “An inquiry notice has been served to Anita Singhvi[Read More…]
Arrested PNB officials illegally accessed Level-5 SWIFT password, shared it with firm
New Delhi: The arrested deputy manager of Punjab National Bank (PNB) has told investigators that he had unauthorisedly obtained Level-5 password to the SWIFT system to authorise issuance of money through Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs). Shetty made the startling revelations when sleuths of Central[Read More…]
PNB fraud: Ex-Deputy Bank Manager Gokulnath Shetty arrested
New Delhi: The Central Bureau of Investigation (CBI) has arrested Punjab National Bank’s retired Deputy Manager, Gokulnath Shetty and two others in a multi-crore bank fraud case, officials said on Saturday. “CBI has Shetty, Single Window Operator Manoj Kharat and authorised signatory of the Nirav Modi Group of Firms, Hemant[Read More…]
CBI registers FIR against Gitanjali group in $1.8 bn fraud case
New Delhi, Feb 16: The CBI on Friday registered an FIR against the Gitanjali Group of companies based on a complaint registered by the Punjab National Bank in a multi-crore fraud case, sources said. The PNB had filed the complaint on February 13 in the Rs 11,515 crore ($1.8 billion)[Read More…]
Who let Nirav Modi flee India, asks Congress
New Delhi: The Congress on Thursday lashed out at Prime Minister Narendra Modi on the Rs 11,500 crore fraud in the PNB and asked him to come clean on the government’s “failure” to prevent the scam and identify those who helped the alleged kingpin, billionaire jeweller Nirav Modi, to flee the[Read More…]