PNB scam
PNB scam case: UK court issues arrest warrant against Nirav Modi
Mon, Mar 18, 2019
The ED and the CBI are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed last year.
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How SBI, ICICI Bank will get Mehul Choksi led Gitanjali Gems to pay its Rs 6000 cr debt
Wed, Sep 12, 2018
Bankers are taking disgraced Gitanjali Gems, promoted by fugitive diamantaire Mehul Choksi, to insolvency resolution under the National Company Law Tribunal (NCLT) after exploring the possibilities of recovering their dues via the Debt Recovery Tribunal, multiple people in know of the development told DNA Money.
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PNB scam: Govt dismisses former MD Usha Ananthasubramanian from service
Mon, Aug 13, 2018
Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case but had continued to be an employee of the bank.
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PNB scam: CBI seeks whereabouts of Mehul Choksi from authorities in Antigua
Thu, Jul 26, 2018
Choksi's actions show that he had planned in advance his escape and subsequent life knowing that the scam would blow up after the retirement of PNB employee Gokulnath Shetty who was helping him with renewals of Letter of Undertakings, the source told PTI, adding that he escaped the country in the first week and took the oath of allegiance in Antigua on January 15.
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PNB scam: Mehul Choksi moves to Antigua, gets local passport
Tue, Jul 24, 2018
Mehul Choksi, who is accused of defrauding Punjab National Bank of $2 billion along with his nephew, diamond tycoon Nirav Modi, fled India before the accusations came to light, stated in his court application that he could not disclose his location in public because of the threat to his life.
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PNB scam: Now Mehul Choksi fears 'mob lynching' in India
Tue, Jul 24, 2018
One of the main defendants in India’s largest bank fraud case made a court application on Monday for cancellation of an arrest warrant against him, citing fears for his life because of a growing number of mob lynchings in the country.
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PNB fraud case: CBI charges former head and 10 other officials: Sources
Mon, May 14, 2018
PNB, India`s second-largest state-run bank, disclosed in February that two jewellery groups had defrauded it by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff over several years. PNB has been conducting a separate internal probe into the fraud and has already suspended over 20 officials.
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PNB fraud case: CBI sleuths interrogate Chartered Accountant of Nirav Modi's sister
Mon, May 07, 2018
According to the report, the well- known chartered accountant, whose office is in South Mumbai’s Tardeo locality, was questioned for three days. The CA specialises in areas like foreign exchange, financial derivatives, and hedging. The CBI reportedly summoned Nirav Modi's financial adviser at a point when it is believed that the diamond trader Modi was either in Hong Kong or had left the place after a brief stay.
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PNB fraud case: CEO Sunil Mehta talks tough, says heads could roll
Thu, Apr 12, 2018
PNB fraud case: Indian authorities have arrested 20 people, and a court has issued non-bailable warrants against jewellers Nirav Modi and his uncle Mehul Choksi. The duo have denied the allegations against them, and authorities say they both left the country before the fraud was uncovered.
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Raghuram Rajan says don't need to be clever in Indian system to make away with billion dollars
Thu, Apr 12, 2018
On demonetisation, Rajan rejected the claim that the Reserve Bank of India had not been consulted by the government before it went on to declare 1,000 and 500-rupee currency notes as illegal tender in November 2016. He, however, reiterated that the move to cancel 87.5 per cent of the currency value was "not a good idea".
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Banking crisis in India: S&P has this to say about turnaround
Wed, Mar 21, 2018
Banking crisis in India: In a report titled 'Will the global economic recovery lift banks in major emerging markets', S&P said government has taken steps by splitting the post of Chairman and Managing Director but more concrete steps would be needed to reform the banks and strengthen their internal control systems.
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PNB fraud: World Bank plays down scam, says not a systemic problem
Fri, Mar 16, 2018
The PNB scam has been accompanied by many other frauds, including the over Rs 3,600-crore Rotomac scam and others coming to light and cases being made by the national investigation agency Central Bureau of Investigation.
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How Nirav Modi, Mehul Choksi case has impacted jewellers
Mon, Mar 12, 2018
The woes of jewellers are getting worse with many of the banks now refusing to fund any of the industry players in a kneejerk reaction to the Nirav-Choksi scam, Nitin Khandelwal, chairman of All India Gems & Jewellery Trade Federation has alleged.
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PNB fraud: Financial professionals accuse govt of diluting RBI power to select auditors for bank
Sat, Mar 03, 2018
In the wake of an alleged multi-crore fraud on state-run Punjab National Bank (PNB), the auditors and financial professionals on Saturday accused the central government of "diluting the bank audit system as well as power of Reserve Bank of India (RBI) for selection of auditors for auditing of ban
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CBI targets PNB Mumbai branch auditors in $2 billion fraud probe
Fri, Mar 02, 2018
The Central Bureau of Investigation (CBI) on Thursday told a court an internal auditor at a Mumbai branch of Punjab National Bank conspired with other officials to carry out a $2 billion fraud at the country`s second-biggest state lender.
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