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…]
Tag: PNB fraud
Move to examine NPAs above Rs 50 cr will cleanse banking system: Ficci
New Delhi: A day after the government set a 15-day deadline for public sector banks (PSBs) to examine all non-performing assets above Rs 50 crore for possible fraud and to identify operational and technical gaps, industry chamber Ficci on Wednesday said the move would help in ensuring the much-required cleansing[Read More…]
Bank scams: Three fresh cases of financial fraud reported
New Delhi: Three fresh cases of financial fraud have come to light after the CBI filed cases against a jeweller, a businessman and a public servant on complaints by three different banks earlier this week, an official said on Saturday. On Thursday, the Central Bureau of Investigation registered a case[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…]
Rahul questions PM’s silence on PNB fraud in ‘Mann ki Baat’
New Delhi: Congress President Rahul Gandhi on Wednesday again attacked Prime Minister Narendra Modi over his silence on the multi-crore Punjab National Bank (PNB) fraud and Rafale fighter jet deal, saying the country wants to hear about these issues in his ‘Mann Ki Baat’. “Modiji, last month you ignored my suggestions[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: ED raids over 40 locations in several cities on Monday
New Delhi: The Enforcement Directorate (ED) on Monday conducted searches at over 40 more locations in several cities across India in connection with the multi-crore Punjab National Bank (PNB) scam, an official said. The agency raided 10 places in Mumbai, six each in Ahmedabad and Bengaluru, four in Chennai, three[Read More…]
Two Gitanjali officials named in CBI FIR resign
Mumbai: Following the unravelling of the $1.8 billion Punjab National Bank (PNB) fraud, two senior officials of Gitanjali Gems — Chandrakant Karkare and Pankhuri Warange — resigned from the company, according to a regulatory filing with the stock exchanges on Monday. Industry chambers condemn $1.8 bn fraud, rap functioning of[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…]
Mamata wants PNB fraud probed, FRDI Bill scrapped
Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday demanded a thorough investigation into the fraudulent transactions worth $1.8 billion in Punjab National Bank and said she would not let the Central government off the hook until the people’s money is secured. Banerjee said she has written to the Finance[Read More…]