Categories
India

PNB fraud: ED seizes luxury cars of Nirav Modi, Choksi

Mumbai/New Delhi: The ED today said it has frozen mutual funds and shares worth Rs 94.52 crore of the Nirav Modi and Mehul Choksi groups in connection with a money-laundering probe against them in the Rs 11,400-crore alleged fraud at the Punjab National Bank (PNB). It also seized nine high-end luxury cars of Modi as part […]

Categories
India

SC: Centre opposes plea for SIT probe in PNB scam

New Delhi: The Centre today opposed in the Supreme Court a PIL seeking an independent probe and deportation of billionaire jeweller Nirav Modi in the over Rs 11,000 crore PNB fraud case, saying an FIR has been lodged and a probe was on. A bench comprising Chief Justice Dipak Misra and Justices AM Khanwilkar and […]

Categories
Economy

Banks were warned thrice against misuse of SWIFT: RBI

Mumbai: Amidst the multi-agency probe into India’s biggest banking scam, RBI said it had “confidentially” cautioned banks thrice since August 2016 on the risks arising from the malicious use of SWIFT system, and has decided to set up a panel to look into the rising incidence of frauds. State-owned Punjab National Bank (PNB) was defrauded of […]

Categories
India

Issuing of LoUs in PNB going on since 2008: CBI tells court

Mumbai: A special CBI court remanded three officials of Punjab National Bank in police custody till 3 March, arrested yesterday in connection with an alleged fraud of Rs 11,384 crore while observing that there is a possibility of their involvement in diverting the bank money. During the arguments over the custody of the trio, the CBI […]

Categories
India

SC to hear PNB fraud case on Friday

New Delhi: The Supreme Court today agreed to hear on Friday a plea seeking a SIT probe and other reliefs in the over Rs 11,000 crore PNB fraud. Two separate petitions were filed before the apex court yesterday seeking its direction to the Centre to initiate the process of deportation of Nirav Modi, who is abroad, […]

Categories
India

HC to hear Mehul Choksi’s plea for quashing FIR

New Delhi: The Delhi High Court will today hear a crucial petition filed by Gitanjali Gems promoter Mehul Choksi seeking quashing of an FIR lodged against him for allegedly cheating an engineer’s firm in 2016. Choksi’s petition is likely to come up before a bench of Justice Mukta Gupta. The FIR against the diamond merchant was […]

Categories
India

Niravgate: CBI arrests three more officials of PNB

New Delhi: The CBI on Monday arrested three more Punjab National Bank (PNB) officials after intense grilling during the day in connection with Rs 11,384 crore scam involving billionaire jewellery merchants Nirav Modi and Mehul Choksi, officials said. The agency also started searches on late Monday evening at group offices of Nirav Modi at Peninsula Business […]

Categories
India

Nirav Modi made money also in nexus with high-end car buyers

New Delhi: Nirav Modi not only relied upon public sector banks (PSBs) to make quick money but also adopted other unethical means to make himself in the list of billionaires overnight. Sirf News, in its investigation, found that diamond firms run by Nirav Modi and Mehul Choksi targeted high-end car buyers in a big way […]

Categories
Economy

CBI quizzes Nirav Modi’s CFO Vipul Ambani

New Delhi: The CBI is questioning Vipul Ambani, the Chief Financial Officer of diamantaire Nirav Modi’s company Fire Star diamond, and carrying out a search operation at the Brady Road branch of the Punjab National Bank (PNB) in Mumbai, officials said. They said Ambani had been holding the position for over three years and is believed […]

Categories
India

PNB scam: 200 shell firms, benami assets under ED, I-T scanner

New Delhi: At least 200 shell firms and benami assets have come under the scanner of the investigative agencies that are probing the Rs 11,400-crore alleged fraud at the Punjab National Bank (PNB), involving diamond czar Nirav Modi, his relative and business partner Mehul Choksi and others. The Enforcement Directorate (ED), which continued its searches against […]