Neeshal Modi

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PNB fraud case: Nirav Modi's sister remits Rs 17 cr from UK account after turning approver, says ED
Business

PNB fraud case: Nirav Modi's sister remits Rs 17 cr from UK account after turning approver, says ED

Purvi Modi and her husband were granted the 'tender of pardon' by a special court in January on the condition that they will make "full and true disclosure" and help the agency

PNB fraud: Nirav Modi diverted Rs 934 crore to personal accounts maintained abroad, says ED's fresh chargesheet
Business

PNB fraud: Nirav Modi diverted Rs 934 crore to personal accounts maintained abroad, says ED's fresh chargesheet

The ED officials said the chargesheet or the prosecution complaint was filed against Nirav Modi before a special PMLA court in Mumbai a few days ago

Besides PNB, Nirav Modi defrauded four other public sector banks, used fake invoices with inflated prices to swindle funds
India

Besides PNB, Nirav Modi defrauded four other public sector banks, used fake invoices with inflated prices to swindle funds

Recent developments suggest that state-owned Punjab National Bank (PNB) may have taken the largest hit of the massive fraud by fugitive diamantaire Nirav Modi but other banks too were targeted by one of the biggest banking swindler in India.

PNB fraud: Interpol issues Red Corner Notice against Nirav Modi's sister Purvi in money laundering case
Business

PNB fraud: Interpol issues Red Corner Notice against Nirav Modi's sister Purvi in money laundering case

Last week Interpol issued an Red Corner Notice against Mihir R Bhansali, a close confidante and senior executive of Nirav Modi

Exclusive: Days after CBI FIR in PNB scam, Nirav Modi withdrew huge sum from an Indian bank in Antwerp
India

Exclusive: Days after CBI FIR in PNB scam, Nirav Modi withdrew huge sum from an Indian bank in Antwerp

PNB had alleged that its officials mainly Gokulnath Shetty and Manoj Karat of Brady House branch in Mumbai fraudulently issued LoUs without following bank’s prescribed procedures of obtaining required request applications, documents, approval of the authorities.

PNB Scam Exclusive: Nirav Modi, Mehul Choksi siphoned off crores to Belgium, but getting details may take 3-4 years
India

PNB Scam Exclusive: Nirav Modi, Mehul Choksi siphoned off crores to Belgium, but getting details may take 3-4 years

According to sources, Nirav Modi who defrauded Punjab National Bank (PNB) of over Rs 12,000 crore, siphoned off a major chunk of the ill-gotten money into two Belgium-based companies — Nirav Modi Limited (formed on 11 October, 2017) and Nirav Modi Jewels BVBA (formed in 2013)

PNB fraud might impact Narendra Modi govt's ease of doing business initiative: PHD Chamber
India

PNB fraud might impact Narendra Modi govt's ease of doing business initiative: PHD Chamber

PHD Chamber president Anil Khaitan blamed the systematic failure of the internal audit system for Punjab National Bank scam

PNB fraud: ED probe finds Nirav Modi, his brother Neeshal and Mehul Choksi were partners in 100 companies
India

PNB fraud: ED probe finds Nirav Modi, his brother Neeshal and Mehul Choksi were partners in 100 companies

Before the PNB scam came to light, Both Modi and Choksi, along with other family members, said to have left the country in early January.

PNB fraud case: ED probes 250 shell companies linked to Nirav Modi, Mehul Choksi that may have laundered money
India

PNB fraud case: ED probes 250 shell companies linked to Nirav Modi, Mehul Choksi that may have laundered money

Enforcement Directorate (ED) sleuths are examining details of over 250 shell firms linked to Nirav Modi, his brother and Mehul Choksi, which they suspect were used to move ill-gotten financial assets after they defrauded state-owned Punjab National Bank of Rs 11,360 crore

PNB Rs 11,000-crore fraud: Bank took 7 years to detect Nirav Modi scam; is another Vijay Mallya in the making?
Business

PNB Rs 11,000-crore fraud: Bank took 7 years to detect Nirav Modi scam; is another Vijay Mallya in the making?

The nature of the Punjab National Bank fraud is such that there may not be a big direct fund exposure to the alleged fraudster.