Gitanjali Gems

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Gitanjali Gems - Total results - 139
PNB fraud: ED analysing 120 shell companies, files two cases against Nirav Modi, Mehul Choksi under PMLA
Business

PNB fraud: ED analysing 120 shell companies, files two cases against Nirav Modi, Mehul Choksi under PMLA

ED has conducted 247 searches at various locations in country, total assets amounting to Rs 7,638 crore have been seized in the case.

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks
Business

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks

It has been reported that the companies falsify the figures on cash flow projections in order to get new loans from banks.

PNB set to take legal action against staff who bought assets, opened accounts abroad to help Nirav Modi
Business

PNB set to take legal action against staff who bought assets, opened accounts abroad to help Nirav Modi

For the bank it will not be easy to pursue the transaction trail and recover the siphoned-off money as the investigating agencies do not have jurisdiction over foreign soil.

Next wave of dud loans to emanate from SMES, warns Uday Kotak; calls upon peers to monitor underbelly of credit market
Business

Next wave of dud loans to emanate from SMES, warns Uday Kotak; calls upon peers to monitor underbelly of credit market

Uday Kotak warned that there is more pain lurking with lenders from SMEs and called upon his peers to look more closely at this underbelly of credit market

Lenders could approach the Reserve Bank with a request to lift the ban on LoUs
Business

Lenders could approach the Reserve Bank with a request to lift the ban on LoUs

Calling the RBI ban a ‘knee jerk’ reaction, businesses said they are perplexed by the central bank’s sudden decision.

PNB fraud fallout: Assocham survey shows 10-15% drop in diamond demand in two months
Business

PNB fraud fallout: Assocham survey shows 10-15% drop in diamond demand in two months

The demand for diamond jewellery seems to have decreased by 10-15 percent within two months, Assocham said

Bulk gold, diamond importers to take biggest hit as RBI bans LoUs and LoCs for trade credit after PNB scam
Business

Bulk gold, diamond importers to take biggest hit as RBI bans LoUs and LoCs for trade credit after PNB scam

RBI said letters of comfort and bank guarantees for trade credits for imports into India may continue to be issued subject to compliance with the certain guidelines.

PNB scam: Govt makes startling revelation in Parliament, says RBI had cautioned banks multiple times on SWIFT misuse
Business

PNB scam: Govt makes startling revelation in Parliament, says RBI had cautioned banks multiple times on SWIFT misuse

RBI has mandated commercial banks to put in place adequate audit and compliance mechanisms with bank board-level reporting through the audit committee of the board post PNB scam.

PNB scam: CBI adds charge of criminal breach of trust to FIR; Mehul Choksi, others may face life term if found guilty
Business

PNB scam: CBI adds charge of criminal breach of trust to FIR; Mehul Choksi, others may face life term if found guilty

CBI told a Mumbai court that it has added charge of 'criminal breach of trust' to the case related to diamond trader Mehul Choksi's firms in PNB fraud case

No Nirav Modi firm featured in list of 2.26 lakh companies deregistered as part of anti-black money measure: Govt
Business

No Nirav Modi firm featured in list of 2.26 lakh companies deregistered as part of anti-black money measure: Govt

As part of larger efforts to curb the black money menace, the corporate affairs ministry has deregistered little over 2.26 lakh companies.

PNB discloses Rs 942-cr additional exposure in Nirav Modi and Mehul Choksi fraud probe, reveals document
Business

PNB discloses Rs 942-cr additional exposure in Nirav Modi and Mehul Choksi fraud probe, reveals document

The new disclosure takes PNB’s overall exposure in the still unravelling fraud case to well over the $2 billion mark.

PNB fraud effect: Punjab National Bank puts in place 3-tier SWIFT process post Rs 12,700 cr scam
Business

PNB fraud effect: Punjab National Bank puts in place 3-tier SWIFT process post Rs 12,700 cr scam

PNB fraud, the biggest in the Indian banking sector, is alleged to have been perpetrated by way of fraudulent Letters of Understanding.

Banks collecting passport details of those borrowing over Rs 50-cr a possible precursor to change in passport rules
Business

Banks collecting passport details of those borrowing over Rs 50-cr a possible precursor to change in passport rules

Section 10 of Passport Act empowers authorities to revoke one’s passport in the interest of the sovereignty and integrity of India.

PNB scam: Overreaction by banks, investigative agencies could hurt credit flow, says Assocham
Business

PNB scam: Overreaction by banks, investigative agencies could hurt credit flow, says Assocham

Supporting the calls from industry for privatising public sector banks (PSBs) in the wake of the PNB scam by accused diamantaire Nirav Modi and his uncle Mehul Choksi, Assocham said that some immediate steps should be taken for capacity building in PSBs.

PNB scam: CBI, ED probe face massive bottlenecks as Nirav Modi, Mehul Choksi refuse to cooperate
India

PNB scam: CBI, ED probe face massive bottlenecks as Nirav Modi, Mehul Choksi refuse to cooperate

The Punjab National Bank scrip is down some 46 percent on the Bombay Stock Exchange (BSE) since 29 January, 2018, the day it filed the first complaint.

CBI issues fresh summons to Nirav Modi and Mehul Choksi, says they are 'obliged' to join probe
Business

CBI issues fresh summons to Nirav Modi and Mehul Choksi, says they are 'obliged' to join probe

The CBI sent fresh summonses to billionaire jeweller Nirav Modi and his uncle Mehul Choksi to join investigations as early as possible.

PNB scam: Mehul Choksi won't return to India anytime soon; tells CBI health issues prevent him from travel
Business

PNB scam: Mehul Choksi won't return to India anytime soon; tells CBI health issues prevent him from travel

Mehul Choksi goes on to explain that if arrested in India, he would lose access to his doctor and a private hospital.

PNB scam: Did UPA cook up 80:20 scheme to aid the Choksis and Nirav Modis; is Raghuram Rajan guilty of ignoring early warning?
Business

PNB scam: Did UPA cook up 80:20 scheme to aid the Choksis and Nirav Modis; is Raghuram Rajan guilty of ignoring early warning?

The PNB scam was not about hoarding of gold but outright fraud conducted by diamantaire Nirav Modi in collusion with certain bankers forging Letter of Undertaking (LoU) from the bank for a good seven years

PNB-Nirav Modi fiasco: When all has been said and done, what kind of a banking system will we be left with?
Business

PNB-Nirav Modi fiasco: When all has been said and done, what kind of a banking system will we be left with?

Government ownership banks – public sector banks (PSBs) account for more than 70 percent of the system, both on the deposit and credit sides – has made us complacent about their fate.

Gitanjali Gems falls 5%, hits fresh 52-week low; ICICI Bank stock dips 3% on SFIO probe
Business

Gitanjali Gems falls 5%, hits fresh 52-week low; ICICI Bank stock dips 3% on SFIO probe

The agency yesterday arrested Vipul Chitalia in the Rs 12,636-crore PNB scam and claimed that he was a "mastermind" who reported directly to diamond trader Mehul Choksi.