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PTI
January 27, 2019
The Home Ministry has also authorised the Serious Fraud Investigation Office to request LOCs if it feels the suspect may escape from India.


PTI
January 27, 2019



PTI
January 19, 2019



BusinessToday.In
New Delhi, December 20, 2018
The Central Bureau of Investigation has already extradited Christian Michel, one of the three middlemen and accused in the case, from UAE this month.


PTI
December 12, 2018



BusinessToday.In
November 23, 2018
To prevent wilful defaulters and fraudsters from fleeing the country, the government has empowered CEOs of public sector banks to request look-out circulars against suspects even before FIRs are filed against them.


PTI
November 22, 2018



BusinessToday.In
New Delhi, August 7, 2018
According to the committee, the RBI should have engaged more in consultations with stakeholders on the matter before resorting to discontinuation of LoU/LoCs [letters of comfort].


BusinessToday.In
New Delhi, June 28, 2018
The Winsome Diamond Group had taken a loan of Rs 6,800 crore from a consortium of banks led by the Standard Chartered Bank. Like the recent PNB fraud, in this case too, the PNB had the highest exposure of Rs 1,800 crore.


PTI
May 11, 2018



PTI
May 11, 2018



PTI
May 8, 2018



PTI
May 3, 2018



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.


Virendrasingh D Ghunawat
April 9, 2018
Shetty also blamed Rajesh Jindal, who was GM of PNB's Brady House branch between August 2009 and May 2011, for directing the fraud, and prime accused Nirav Modi and his partner Mehul Chokshi for blackmailing him from 2010 to 2017.


PTI
April 4, 2018



BusinessToday.In
New Delhi, April 4, 2018
Several systemic loopholes led to PNB loan fraud, says ICAI panelA high-power group, constituted by the Institute of Chartered Accountants of India (ICAI) to look into the PNB loan fraud case, has found systemic failure at many levels that led to the fraud in the first place and then failed to detect it for a long time. The group found that Nirav Modi's company was granted loan despite his company having only current account with the Brady House branch of the bank. \"When there is...


Dipak Mondal
New Delhi, April 3, 2018
The group found that Nirav Modi's company was granted loan despite his company having only current account with the Brady House branch of the bank. \"When there is only current account, no credit facility should be granted -- neither the letter of undertakings (LoUs) nor Letter of credit (LoCs),\" says SB Zaware, member, Central Council, ICAI.


BusinessToday.In
March 29, 2018
The country's biggest banking scam has just expanded further. Karnataka Bank today reported a fraud totalling Rs 86.47 crore in loans extended to Mehul Choksi-promoted Gitanjali Gems. Choksi and his nephew Nirav Modi are the key accused in the Rs 13,600 crore Punjab National Bank scam.


PTI
March 26, 2018



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