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PTI
September 18, 2018
The Enforcement Directorate (ED) has zeroed in on foreign assets worth about Rs 4,000 crore of absconding diamond jeweller Nirav Modi for quick attachment under Prevention of Money Laundering Act (PMLA).


Mail Today Bureau
New Delhi, September 14, 2018
The controversy-hit lender has invited bids for the e-auction to be held through the bank's portal on September 20.


BusinessToday.In
New Delhi, September 12, 2018
Choksi was allegedly in the business of \"highly inflating\" prices of the gems and jewellery sold from his outlets.


BusinessToday.In
New Delhi, September 11, 2018
The bank was able to recover around Rs 8,445 crore in the April-June quarter alone, which is over 23 per cent of all recoveries made during the period. PNB recovered around Rs 5,618 crore in FY18 and Rs 5,643 crore the previous year.


BusinessToday.In
September 5, 2018
Banks are yet to pay heed, and hence the regulator has reportedly issued show-cause letters to several banks.


Ankit Kumar
August 30, 2018
The investigation notes at least 4 instances of round-tripping of diamonds to give the impression of high sales worth $213 million between Modi's entities and his shell companies.


Ankit Kumar
New Delhi, August 30, 2018
Nirav Modi set up over 20 shadow companies, mostly in UAE and Hong Kong, to hide his loan money trail. Interestingly, the owners of all these shadow companies were the employees of his main company, Firestar Diamond.


BusinessToday.In
August 30, 2018
A 165-page dossier submitted to the United States Bankruptcy Court Southern District of New York may have finally blown the lid off biggest banking fraud in Indian history.


BusinessToday.In
New Delhi, August 8, 2018
PNB posts Rs 940 crore Q1 loss amid decline in NPAsScam-hit Punjab National Bank (PNB) reported a loss of Rs 940 crore for the June quarter of financial year 2018-19. The public sector lender had posted a net profit of Rs 343.40 crore in the same quarter of last fiscal. This is the second consecutive quarterly loss for the second biggest state-run lender. The scam-hit bank had recorded biggest ever quarterly loss of Rs 13,417 crore for the January-March period on the back of Nir...


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].


PTI
July 26, 2018
The agency had recently moved the court seeking to declare the diamond traders as 'fugitive economic offenders' and to confiscate their assets worth Rs 3,500 crore in the case.


BusinessToday.In
July 25, 2018
The Citizenship by Investment Unit (CIU) of Antigua & Barbuda confirmed Choksi's presence in the Caribbean island nation, saying that the fugitive diamantaire obtained his Antiguan citizenship last year in November.


BusinessToday.In
New Delhi, July 24, 2018
The ED came to know about the whereabouts of the Choksi, one of the accused in the Rs 13,700-crore PNB fraud, just a day before he landed at the VC Bird International airport in Antigua on July 8 when they officially approached the US authorities.


PTI
New Delhi, July 22, 2018
Punjab National Bank and Allahabad Bank may take a call on further action to be taken against two executive directors and the MD chargesheeted in the Rs 14,000 crore Nirav Modi fraud case, sources said.


PTI
July 15, 2018
Last financial year, PNB made recovery of about Rs 5,400 crore. However, in the first quarter of current fiscal, the bank has done recovery of over Rs 7,700 crore.


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.


PTI
July 1, 2018
Punjab National Bank MD Sunil Mehta has said there are \"positive developments\" in favour of the lender pertaining to bankruptcy case filed in the US by Nirav Modi's firm Firestar Diamond Inc.


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.


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.


BusinessToday.In
June 26, 2018
The PNB's internal probe has revealed that its former official Gokulnath Shetty cleared over 13,000 transactions of Rs 1 crore which was well beyond his authorised limit of Rs 25 lakh. Shetty's name had first cropped up when the PNB in February announced that it had detected fraudulent transactions at its Brady House Branch in Mumbai.


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