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

Results 1 to 21 of 46
PTI
June 25, 2019



PTI
March 19, 2019



Munish Pandey
Mumbai, December 19, 2018
Interestingly, most of these PNB officials were also named as accused -- and later, on arrested by the agency -- in the Nirav Modi fraud case.


PTI
December 13, 2018



PTI
December 13, 2018



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.


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.


PTI
June 11, 2018



PTI
June 11, 2018



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.


PTI
May 17, 2018



BusinessToday.in
New Delhi, May 17, 2018
The Central Bureau of Investigation recently named jeweller Nirav Modi, Allahabad Bank MD and CEO Usha Ananthasubramanian and 20 others in connection with issuance of fraudulent guarantees of Rs 6,498.20 crore to Modi's company by the PNB. Usha Ananthasubramanian, who served as former CEO and MD of PNB, was alleged to have ignored caution notices issued by the RBI. Watch BusinessToday.In video to know more about the Allahabad Bank MD and CEO.


PTI
May 14, 2018



Virendrasingh Ghunawat
Mumbai, April 12, 2018
To avoid detection, the accused bank officials, the Gitanjali group companies and its directors deliberalty omitted making entries of the LoUs in the core banking system (CBS) of the bank. 


BusinessToday.In
March 26, 2018
It's been well over a month since Nirav Modi's fraudulent LoU scam was unearthed at the Punjab National Bank (PNB), but the troubles for PNB are showing no sign of abatement. The beleaguered public sector lender is now staring at a shady title of 'defaulter', a first for any bank in India.


PTI
March 15, 2018



BusinessToday.in
March 15, 2018
This comes a month after the second largest bank reported the biggest banking scam of over Rs 11,000 crore - initially, which later turned out to be a whopping Rs 13,600 crore fraud.


BusinessToday.In
New Delhi, March 13, 2018
The RBI's decision will be applicable with immediate effect. The LoUs and LoCs issued by PNB were allegedly misused by diamond merchant Nirav Modi and his uncle Mehul Choksi to defraud the state-owned bank of Rs 12,700 crore in connivance of inside bank officials.


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.


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