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Total 201 results found. Search for [ Gitanjali Gems ]

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Virendrasingh Ghunawat
Mumbai, July 3, 2018
When he got a hint that the Punjab National Bank has lodged a complaint against Gitanjali Group and the central investigative agencies are on the verge of nailing him down, Mehul Choksi began the process of selling all his properties and move outside India.


Virendrasingh Ghunawat
Mumbai, July 3, 2018
Choksi indulged in fund diversion to fulfil his luxurious needs. In 2013, he purchased a villa from Ziad Khalil Makkawi and Amal Boudhara Makkawi (UAE) and paid Rs 27 crore. To pay the EMI, Rs 15 lakh used to be transferred to Choksi's account from Gitanjali Venture DMCC in the guise of professional fees.


BusinessToday.In
June 28, 2018
The Enforcement Directorate (ED) on Thursday filed chargesheet against absconding jewellery trader Mehul Choksi and 13 others in the Rs 14,000 crore PNB scam. Choksi, the owner of Gitanjali Group, was charged under PMLA for money laundering.


PTI
New Delhi, June 24, 2018
Revenue intelligence agency DRI has served an arrest warrant via email to absconding diamantaire Nirav Modi in a case of alleged customs duty evasion. The warrant was issued by a court in Surat in Gujarat after he failed to appear before it in connection with the case.


Aseem Thapliyal
June 6, 2018
The market looks nervous and has entered volatile zone, mainly due to a more than expected correction in small cap and midcap indices.


BusinessToday.In
May 21, 2018
With this move, Moody's has become the second rating agency to downgrade the PNB. Last month, Fitch Ratings on Wednesday downgraded the viability rating of scam-hit Punjab National Bank from BB to BB-. The move was based on similar concerns - negative impact on bank's financials.


PTI
May 21, 2018
Replying to an RTI query, the RBI had also earlier declined to share inspection reports for scam-hit PNB. In response to queries under the transparency law, the central bank had said that the RBI does not carry out audit of banks, but conducts inspection/risk-based supervision of banks.


PTI
New Delhi, May 20, 2018
Markets regulator Sebi will consider penal action against Punjab National Bank and Gitanjali Gems after completion of its probe into suspected trading and disclosure related issues in the matter of over Rs 14,000 crore banking fraud, senior officials said.


PTI
New Delhi, May 20, 2018
The CBI is likely to approach Interpol for a Red Corner Notice against absconding billionaire jewellers Nirav Modi and Mehul Choksi who are allegedly the brains behind the over $2 billion scam in Punjab National Bank, agency sources said.


BusinessToday.In
May 16, 2018
The New York court where three of Nirav Modi's companies filed for bankruptcy has reportedly called for an investigation into the role of the bank's employees in the alleged fraud before deciding on proceedings.


BusinessToday.in
New Delhi, May 14, 2018
PNB scam: RBI declines to share copies of inspection reportsThe Reserve Bank of India (RBI) has declined to share inspection reports for scam-hit Punjab National Bank (PNB), citing RTI clauses that bar disclosure of details which may impede the investigation process or prosecution of offenders among other reasons. Replying to an RTI query, the central bank also said it does not have \"specific information\" on what resulted in detection of over Rs 13,000 crore scam at PNB and directed the application to the state-run bank for providing those details. The scam, considered to be the biggest ever fraud in India's history, came to light earlier this year. PNB was allegedly defrauded by diamantaire Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems.Air India records 20% growth in revenue during March-April, says CMD Pradeep Singh KharolaAir India has recorded a 20 per cent growth in revenue in March-April 2018 and has embarked on a route analysis exercise, focussing on increasing flying hours of each of its aircraft, to add more trips, the airline's chairman-cum-managing director, Pradeep Singh Kharola, said. The airline is focussing on improving the operational efficiency both in the domestic and international sectors even as it is buoyed over the load factor, on time performance and revenue growth, Kharola told PTI. He pinned high hopes on international routes, generating 70 per cent of Air India's total revenue, stating that the new destinations such as Tel Aviv are giving good returns to the carrier. The increase of frequency to the San Francisco route to nine days a week is expected to give the airline Rs 90 crore a month.Discussions on between Walmart and Softbank regarding the latter's plansWalmart Inc believes that it won't make any \"material difference\" to its plans for Flipkart even if Japanese firm Soft-Bank finally decides against selling its stake in the Indian company as Walmart will still enjoy a comfortable majority in the Indian company's shareholding, as reported by the Economic Times. ET had reported on May 11 that the Japanese firm is having second thoughts and may take about 10 days to decide on whether to sell its 21% stake to Walmart . The Japanese investor also sees further valuation upside in Flipkart if it stays invested in the firm. Days after Walmart announced its plan to buy Flipkart, online marketplace eBay said it would end its partnership with the latter and relaunch eBay India with a differentiated offer.Walmart may launch IPO for Flipkart in as early as four yearsWalmart Inc said in a filing with a U.S. regulator that it may take Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart's largest-ever acquisition. Minority investors holding 60 percent of Flipkart's shares \"acting together, may require Flipkart to effect an initial public offering\" (IPO) four years after the close of the Walmart-Flipkart transaction, the Arkansas-based retailer said in a May 11 filing with the U.S. Securities and Exchange Commission. The IPO should be done at no less a valuation than that at which Walmart invested in the Indian e-commerce firm, the filing said as reported by ReutersReliance Jio complains to DoT against AirtelReliance Jio Infocomm (Jio) has asked the telecom ministry to take \"severe action\" and levy \"strictest of penalties\" against rival Bharti Airtel for allegedly violating licence conditions by using a network of nodes based abroad to offer its services on the latest Apple watch, which could lead to a security breach. Airtel has denied the accusations, calling Jio's complaint \"frivolous\". According to a report in the Economic Times in a letter to the department of telecommunications (DoT) dated May 11, Jio alleged that Airtel has not set up \"eSIM provisioning node in India and the node being used to provide Apple Watch Series 3 is currently located outside India in gross violation to the licence terms\".Commerce Ministry starts work to further revise WPI base year to 2017-18The commerce and industry ministry has started the exercise to revise base year to 2017-18 for computation of wholesale inflation with a view to present more realistic picture of the price situation, a government source said. In May last year, the government revised the base year for WPI-based inflation to 2011-12 to give a better indication of changes in prices of commodities. The new index, with 2017-18, is expected to have new items, which would provide a more realistic picture of price rise and its impact on people. Most of the additions could be in the manufactured products category.


PTI
New Delhi, May 13, 2018
The Reserve Bank of India (RBI) has declined to share inspection reports for scam-hit PNB, citing RTI clauses that bar disclosure of details which may impede the investigation process or prosecution of offenders among other reasons.


PTI
May 6, 2018
The public sector lender has been putting out the names of wilful defaulters and firms since June 2017. Within ten months, these defaults have grown by 28 per cent, from Rs 11,879.74 crore.


PTI
May 3, 2018



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May 3, 2018



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May 2, 2018



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April 27, 2018



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April 19, 2018



BusinessToday.In
New Delhi, April 17, 2018
In the last four fiscal years, 21 public sector banks could recover only Rs 29,343 crore out of the total Rs 2.72 lakh crore of bad loans


PTI
April 15, 2018
Gross NPAs of all the banks in the country amounted to Rs 8,40,958 crore in December, led by industry loans followed by services and agriculture sectors, as per the government estimates.


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