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 bank […]
Tag: PNB Scam
PNB scam: DRT summons to Nirav Modi; Union Bank also a party
Mumbai : The Mumbai DRT has summoned absconding diamantaire Nirav D. Modi, the public sector Union Bank of India and others at 12 noon on March 12 in a case filed by the Punjab National Bank (PNB) pertaining to the Rs 14,000-crore fraud. The PNB has filed the case before the Mumbai Debt Recovery Tribunal-I […]
PNB scam probe: CBI raids, nabs bank officials, 2 others
Mumbai : In another swoop in the ongoing probe into the Punjab National Bank (PNB) scam, the CBI on Thursday raided and arrested eight officials of the bank and directors of two private companies, an official said. The latest case involving a fraud of around Rs 90 million, comes in the continuing probe in the Rs […]
PNB scam: Purvi Modi owned shell companies abroad to launder money
New Delhi : Purvi Deepak Modi — sister of fugitive diamentaire Nirav Modi — was the owner and director of several shell companies formed solely for the purpose of laundering the money and was the direct beneficiary of the proceeds of crime, says an official. A red corner notice (RCN) was issued against her on […]
PNB scam: Centre dismisses former MD on last day of service
New Delhi : The central government on Monday dismissed former Allahabad Bank Managing Director Usha Ananthasubramanian on the day she was to superannuate from service, according to an official notification. In May this year, Ananthasubramanian had been divested of all her powers as MD of Allahabad Bank after being named in a Central Bureau of […]
Interpol issues Red Corner Notice against Nirav Modi
Interpol on Monday issued a Red Corner Notice (RCN) against diamantaire Nirav Modi who is absconding. The RCN has been issued in connection with the Punjab National Bank fraud case. A Red Corner Notice mandates Interpol to arrest a fugitive after locating him/her. Nirav and his uncle Mehul Choksi are accused of defrauding PNB of […]
PNB fraud: CBI examines two SBI officials
Mumbai : The CBI on Thursday said it is examining two officials of overseas branches of an Indian bank in connection with its ongoing probe into the Rs 13,500 crore Punjab National Bank (PNB) fraud case involving diamond jeweller Nirav Modi and his uncle Mehul Choksi of the Gitanjali Group. Two Deputy General Manager (DGM)-rank officials […]
PNB fraud: CBI examines three officials of foreign branches of Indian banks
Mumbai : The CBI on Wednesday examined three officials of overseas branches of two Indian banks in connection with Rs 13,600 crore Punjab National Bank (PNB) fraud against diamantaire Nirav Modi and his uncle Mehul Choksi, an official said. Two of the officials are from Canara Bank’s Bahrain Branch and one from Bank of India’s Antwerp […]
Bank unions demand JPC probe into PNB fraud case
Kolkata : Demanding a joint parliamentary committee (JPC) probe into the recent banking fraud, the United Forum of Bank Unions (UFBU) — a body of nine trade unions — on Monday questioned the supervision mechanism of the Reserve Bank of India (RBI). “We are demanding a detailed JPC probe into the recent Punjab National Band […]
PNB scam: Mauritius promises necessary action against offenders
New Delhi : In connection with the alleged Rs 12,600-crore fraud at the state-run Punjab National Bank (PNB), also involving overseas branches, Mauritius has promised regulatory action against individuals or entities found to be linked with “fraudulent practices”. Taking cognizance of media reports about the PNB fraud by accused diamantaire Nirav Modi and his uncle […]