Latest News on Lous
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Lous - Total results - 54
Oct 17, 2019
PNB fraud case: Fugitive diamataire Nirav Modi to appear for videolink remand hearing from UK jailSince his arrest, Nirav Modi's legal team has made four bail applications, which have been rejected each time due to Modi being deemed a flight risk
Aug 02, 2019
Financial Intelligence Unit slaps over Rs 15 cr fine on Punjab National Bank for violating money laundering rulesThe FIU move against Punjab National Bank is significant because it is based on inspection and review of the Bank during April 2016-November 2017, which covers the crucial months before and after demonetisation that was announced on 8 November 2016
Feb 14, 2019
A year after PNB fraud: Lessons learnt from Nirav Modi episode, but some questions still elude answersA year after this shocker, the key perpetrators of the case—Modi and Choksi—are still on the run.
Dec 19, 2018
CBI arrests 10 people for alleged misuse of LoUs worth Rs 9 cr at PNB's Brady House branchThe CBI has arrested 10 people for alleged misuse of Lettter of Undertakings worth over Rs 9 crore in the Punjab National Bank's Brady House branch, the fountainhead of a $2 billion scam perpetrated by billionaires Nirav Modi and Mehul Choksi, officials said on Wednesday.
Sep 11, 2018
PNB scam: Mehul Choksi diverted over Rs 3,250 cr to foreign shores; sold jewellery at inflated prices: EDMehul Choksi, talking to some media organisations, has termed ED's allegations as "false and baseless".
Aug 07, 2018
LoUs should be restored at earliest with proper safeguards, says Parliamentary panel to RBIThe Parliamentary Standing Committee on Commerce said in its report that the ban of LoU/LoC has resulted in rise in the cost of credit by 2 to 2.5 percent.
Jul 13, 2018
EXCLUSIVE: Trouble for PNB top brass as CVC comes down hard on auditors post Rs 14,000 crore fraudA CVC note reveals that statutory auditors, who conducted an audit of PNB's Brady House branch, provided vague replies to the watchdog on the Rs 14,000 crore fraud.
Jul 04, 2018
Punjab National Bank says no plans to close operations at fraud-hit Brady House branch in MumbaiPNB's Brady House branch in Mumbai had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011.
Jun 27, 2018
PNB scam: Accused Hemant Bhatt challenges PMLA court's jurisdiction, seeks transfer of case to CBI courtThe CBI had earlier booked Hemant Bhatt along with others under IPC section 420 (cheating) and relevant sections of Prevention of Corruption Act in connection with the fraud.
Jun 23, 2018
The art of fraud: PNB's Dubai, Hong Kong files reveal collusion between Nirav Modi and high ranking officialsInvestigators probing the PNB fraud expect to use the Dubai and Hong Kong files to connect the missing dots in the scam, to nab high ranking individuals.