Was Nirav Modi trying to route some overseas funds into India to get reprieve from Indian banks?

Why was he pumping back money into India from overseas? Was it the same money that he siphoned off via letter of credit (LoU) and was trying to placate Indian banks by paying the interest or commission portion.

Were Indian banks aware of Nirav Modi's changed status as NRI?

There are already reports of Modi taking up the citizenship or permanent resident status of some other country. The documents where Modi clearly states that he is a NRI have been filed with the Registrar of Companies.

PNB fraud: Gitanjali Gems down 50.25% since Feb 14, Rs 344 crore in mkt cap wiped out

At 12:59 pm, the stock was down 9.99% or 3.75 points to 33.80 level on BSE. The fraud came to light on Wednesday (February 14). Since then the stock is down 50.25 percent on BSE. Its market capitalisation has fallen by Rs 344.58 crore.

Nirav Modi case: Bank officials may have made close to Rs 823 crore in PNB fraud

As per the information shared by a chartered accountant with India Today, PNB officials were charging a commission of around 2 per cent on each LoU per year which was never shown in bank's account books.

Sensex falls 200 pts to 33,807, Nifty below 10,400 as selling resumes amid higher Asian markets

While the Sensex was trading 136 points lower 33,874, the Nifty  was down 45 points to 10,406 level. The BSE bankex resumed its decline and fell 126 points (0.44%) to 28,270 level.

Mon Feb 19 13:26:00 IST 2018
 

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