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Total 46 results found. Search for [ fraudulent letters of undertakings ]

Results 20 to 40 of 46
PTI
New Delhi, March 11, 2018
Rattled by spate of banking frauds, RBI has initiated special audit of state-owned lenders with focus on trade financing activities, especially relating to issuance of letters of undertakings (LoUs) by them, banking sources said.


BusinessToday.in
March 6, 2018
On Monday, the central investigating agency said the violation of norms for issuance of Letters of Undertaking (LoUs) to benefit billionaire jeweller Nirav Modi and his uncle Mehul Choksi had been going on since 2010. The stock is down for the 14th straight session. On the NSE, the stock fell 4.94% to 18.30 level.


Reuters
New Delhi, March 4, 2018
An official of Punjab National Bank received gold and diamond jewellery from a billionaire jeweller accused of being involved in a $2 billion bank fraud, the Central Bureau of Investigation (CBI) told a court on Saturday.


PTI
March 2, 2018
The documents were hidden in a small room of a 'chawl' in Wadala, a central Mumbai suburb. The premises is believed to be that of Nirav Modi (not in name of the company). The billionaire jeweller has refused to join the probe citing his business engagements.


PTI
New Delhi, March 1, 2018
Officials said the searches were carried out after information surfaced during questioning of some arrested accused and others persons.


PTI
February 28, 2018



BusinessToday.in
New Delhi, February 27, 2018
PNB has admitted that the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs11,400 crore.


PTI
February 24, 2018



BusinessToday.in
New Delhi, February 23, 2018
The Punjab National Bank has also issued a statement saying that it has not imposed any withdrawal limits of Rs 3000 on its customers and normal banking activities are going on.


PTI
New Delhi, February 23, 2018
The country's second largest PSU bank has detected USD 1.77 billion scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoU) from its Brady House branch in Mumbai to secure overseas credit from other Indian lenders


BusinessToday.in
New Delhi, February 22, 2018
The ED seized Nirav Modi's nine luxury cars, including a Rolls Royce Ghost and 2 Mercedes Benz GL 350 CDIs, on Thursday. The agency earlier sealed the diamantaire's several properties across the country, including sea-facing property in Mumbai's Alibaug.


BusinessToday.in
February 22, 2018
The Enforcement Directorate (ED) has asked Sebi to freeze Mehil Choksi's shares in Gitanjali Gems. But what comes as a dampener for the investigative agencies is the fact that almost 78.56 per cent of the promoters' shares in Gitanjali Gems were pledged in December.


PTI
February 20, 2018



BusinessToday.in
New Delhi, February 19, 2018
The CBI officials on Monday conducted searches at Punjab National Bank's (PNB) Brady House branch in Mumbai even as whereabouts of Firestar Diamond owner Nirav Modi, who's accused of defrauding the bank of over Rs 11,400 crore, remain unknown.


PTI
February 18, 2018



BusinessToday.in
New Delhi, February 18, 2018
Punjab National Bank on Monday detected fraudulent transactions worth Rs 11,300 crore at its Brady House branch in Mumbai. The PNB in its cautionary note to other public and private sector banks used terms like LoU and SWIFT while explaining the modus operandi of the scam. Watch BusinessToday.in's video to find out what does these terms mean 


PTI
February 16, 2018



PTI
February 16, 2018



PTI
February 15, 2018



BusinessToday.in
February 15, 2018
Union Minister Ravi Shankar Prasad said that the government had seized assets worth Rs 1,300 crore belonging to Nirav Modi besides initiating revocation of his passport.


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