Raipur : The ED has raided a showroom of jeweller Mehul Choksi here in connection with a multi-crore Punjab National Bank (PNB) scam and seized jewellery worth Rs 1.27 crore, an informed source said on Sunday. The 12-member Enforcement Directorate team reached the Gitanjali jewellers store in Ambuja Mall at 10.30 p.m. on Saturday and […]
Tag: Nirav Modi
Nirav fraud: PNB officials took commission to sign LoUs
New Delhi : Punjab National Bank officials used to take percentage commissions in lieu of issuing letters of undertaking and foreign letters of credit to diamond czar Nirav Modi and his partner Mehul Choksi and their firms, according to the probe into the Rs 11,300 crore banking scam. The fresh revelation in the banking fraud […]
PNB fraud: ED raids over 45 locations in 15 cities
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 […]
Did PNB fraud continue after retirement of so-called ‘main culprit’?
New Delhi : Did the fraud at Punjab National Bank (PNB) continue even after the “main culprit”, named by the bank, retired? It would seem so from the details provided by PNB to the investigative agency on the basis of which the Central Bureau of Investigation (CBI) filed two first information reports — one against […]
PNB officials met representatives of Nirav Modi, Gitanjali group urging them to pay dues
Mumbai : Punjab National Bank (PNB) officials had met representatives of Nirav Modi and Gitanjali groups to impress upon them to pay outstanding amounts, the bank said in a clarification to the stock exchanges. “A series of meetings were held with representatives of Nirav Modi group and Gitanjali group at Delhi & Mumbai to impress […]
Singhvi rubbishes BJP’s allegations, warns of legal action
New Delhi : Rubbishing accusations that he and his family had links with Nirav Modi’s companies, Congress leader Abhishek Manu Singhvi on Saturday said Defence Minister Nirmala Sitharaman “was liable to civil and criminal defamation”. The Congress leader said he reserved the right to take appropriate legal action against Sitharaman and a section of the […]
Intesa Sanpaola SPA (HK) only foreign bank to be affected by PNB fraud
New Delhi : The only foreign bank affected in Nirav Modi/Mehul Choksi fraud case turns out to be Intesa Sanpaolo SPA whose Hong Kong branch was called upon to provide money to Gitanjali Gems against a foreign letter of credi (FLC) issued by the Punjab National Bank (PNB). The amount raised through the Hong Kong […]
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 Bhat,” a CBI official […]
It was ‘impromptu’, says MEA of Davos photo featuring Nirav Modi
New Delhi : The government on Friday sought to distance itself from a controversial group photograph featuring absconding businessman Nirav Modi along with Prime Minister Narendra Modi and some Indian CEOs at the World Economic Forum in Davos, Switzerland, last month. “The photograph you are referring to is basically a very impromptu thing which happened,” […]
Congress attacks PM on PNB scam, calls it ‘biggest bank loot’
New Delhi : The Congress on Friday continued its belligerent attack on Prime Minister Narendra Modi and claimed that the PNB fraud of over Rs 11,000 crore was India’s biggest “bank loot scam” and has got bigger to touch Rs 21,306 crore. The party asked why the government was silent on the issue and how […]