Mehul Choksi claims innocence, says not related to two firms involved in over Rs 14,000 cr PNB fraud
In a statement issued by his lawyers, the raids against Choksi were on the basis of "an old and dated (KYC) document" given to PNB
Nirav Modi, Vijay Mallya aren't only fraudsters to have fled India; RTI shows 184 others on loose: Exclusive report
It appears Nirav Modi and Vijay Mallya are not the only fraudsters who have successfully managed to flee the country. Since 2015, there are hundreds of cases of financial scams registered with the Economic Offences Wing (EOW), Mumbai. According to the RTI information obtained by activist Jeetendra Ghadge, 184 of the people accused in those scams are absconding.
Nirav Modi, Mehul Choksi were slow to pay dues long before Rs 12,600 cr PNB scam, say diamond traders
Nirav Modi and Mehul Choksi had acquired a reputation for not following the industry’s unwritten code of business ethics, said diamond traders in Surat
Many traders told Firstpost speaking anonymously that Modi and his uncle deliberately cheated Punjab National Bank in collusion with bank officials. While others in the trade said that it was a business strategy that did not work out well which led to the “mama-bhanja”s business going belly-up.