PNB files new complaint against Nirav Modi, claims his companies misused legitimate loans and guarantees
Both Modi and Choksi have denied wrongdoing, and so have two key accused PNB employees in the case, which has so far led to 19 people being arrested. The whereabouts of Choksi and Modi, who police say left India before the first complaint was filed, are unknown.
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?
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.
Mehul Choksi pulled a Vijay Mallya: Pledged same brands, flats to various banks as collateral in massive loan scam
According to officials probing the Punjab National Bank (PNB) fraud case, Nirav Modi's uncle Mehul Choksi had pledged his Sangini brand of diamonds — that was endorsed by top Bollywood stars — as collateral while collecting loans for his two different companies
PNB scam updates: CBI detains Gitanjali Group's VP Vipul Chitalia for questioning; SFIO summons top bank officials
According to reports, the Central Bureau of Investigation had summoned ICICI bank's CEO Chanda Kochhar for questioning in the Gitanjali jewel loan case. According to sources, Kochhar is in the CBI office right now.
Disgruntled BJP MP Shatrughan Sinha on Monday attacked the Narendra Modi government over issues such as demonetisation, the PNB scam and the escape of its key accused to foreign countries.
Rs 12,700 cr PNB scam: NCLT restrains Nirav Modi, Mehul Choksi, 60 entities from selling their assets
The National Company Law Tribunal (NCLT) has passed the directions against Nirav Modi and Mehul Choksi, the alleged main perpetrators of the fraud, as well as their firms and relatives, among other entities, as per a public announcement by the corporate affairs ministry
PNB scam: Noose tightens around Nirav Modi, DRI to move against fugitive diamantaire for duty evasion
Nirav Modi and Mehul Choksi, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, promoting the agency to move the PMLA court for issuance of NBWs against them
PNB scam: Who will audit the auditors, police the police and judge the judges? Nirav Modi gave a wake-up call to govt
For too long have auditors taken smug shelter behind the watchdog-not-bloodhound defence.
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.
Modi, his family, and Choksi, the promoter of Gitanjali Gems, left the country in early January, much before the CBI received a complaint from the PNB.
The bankruptcy petition documents, obtained by IANS from the court system, show a maze of inter-connected ownerships that finally lead the three companies through several subsidiaries to Nirav Modi via Hong Kong.
Nirav Modi, who is being investigated for illegal transfer of nearly $2 billion from Punjab National Bank, has a majority stake in Firestar Diamond and its other sister companies through his other companies
The Enforcement Directorate attached 41 properties worth Rs 1,200 crore of Nirav's uncle Mehul Choksi of the Gitanjali Group.
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
Apart from seasonal retail businesses and telecom products, the Subhiksha group is into sale of FMCG products, pharma, groceries, fruits and vegetables.
Blue corner notice against Nirav Modi, Mehul Choksi: Can't join probe due to pending business, says Modi
the Blue Corner notice -- to locate, identify or obtain information on a person of interest in a criminal investigation -- was issued by the Bureau of Immigration against the two which will be valid for a year starting 22 February at all ports of embarkation.
PNB scam effect: Canara Bank moves CBI with Rs 515 cr fraud charge against Kolkata-based R P Infosystem
Firstpost has received a copy of the FIR which Canara Bank has filed alleging fraudulent transactions.
Sensex falls over 250 pts, Nifty slips below 10,500-mark; PSU, banking stocks major losers, PNB slumps over 6%
The broader Nifty 50 slipped below the 10,500-mark to 10,466.95, down 87.35 points, or 0.82 percent.
GDP data key highlights: India's economy grows at 7.2% in third quarter; a booster shot for Narendra Modi govt
A strong GDP reading could lift domestic shares, and boost the rupee, which has been Asia’s second weakest currency this year, losing about 1.6 percent against the dollar.