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CBI says Nirav Modi managed to travel despite Interpol flashing info on revocation of passport
• 7 years agoAbsconding diamantaire Nirav Modi managed to travel across several countries even after information about his passport being revoked by the Indian government was flashed in the Interpol central database on 24 February, the CBI said
Financial Intelligence Unit slaps over Rs 15 cr fine on Punjab National Bank for violating money laundering rules
Yatishyadav • 6 years agoThe 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
A year after PNB fraud: Lessons learnt from Nirav Modi episode, but some questions still elude answers
Dinesh Unnikrishnan123 • 6 years agoA year after this shocker, the key perpetrators of the case—Modi and Choksi—are still on the run.
CBI arrests 10 people for alleged misuse of LoUs worth Rs 9 cr at PNB's Brady House branch
• 6 years agoThe 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.
PNB scam: Mehul Choksi diverted over Rs 3,250 cr to foreign shores; sold jewellery at inflated prices: ED
• 6 years agoMehul Choksi, talking to some media organisations, has termed ED's allegations as "false and baseless".
LoUs should be restored at earliest with proper safeguards, says Parliamentary panel to RBI
• 7 years agoThe 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.
EXCLUSIVE: Trouble for PNB top brass as CVC comes down hard on auditors post Rs 14,000 crore fraud
Yatishyadav • 7 years agoA 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.
Punjab National Bank says no plans to close operations at fraud-hit Brady House branch in Mumbai
• 7 years agoPNB's Brady House branch in Mumbai had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011.
PNB scam: Accused Hemant Bhatt challenges PMLA court's jurisdiction, seeks transfer of case to CBI court
• 7 years agoThe 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.
The art of fraud: PNB's Dubai, Hong Kong files reveal collusion between Nirav Modi and high ranking officials
Yatishyadav • 7 years agoInvestigators 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.