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BusinessToday.In
July 18, 2018
The move comes after liquor baron Vijay Mallya, PNB scam accused diamantaire Nirav Modi and Mehul Choksi gave a slip to the authorities.


Virendrasingh Ghunawat
Mumbai, July 13, 2018
The Enforcement Directorate (ED) is likely to file its prosecution complaint against fugitive businessman Jatin Mehta next week to make ground to confiscate his assets worth Rs 172 crore under the new Fugitive Act.


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
April 24, 2018



BusinessToday.In
New Delhi, March 29, 2018
Govt mandates banks to obtain certified copies of passports, to crack down on wilful defaulters


PTI
March 18, 2018
Several big defaulters like Nirav Modi, Mehul Choksi, Vijay Mallya and Jatin Mehta have fled the country, putting recovery mechanism in quandary.


BusinessToday.in
New Delhi, March 15, 2018
Before Nirav Modi and Mehul Choksi , there was Vijay Mallya, who in turn was preceded by Lalit Modi and Jatin Mehta.


PTI
March 13, 2018



PTI
New Delhi, March 10, 2018
Passport details of borrowers taking loans of Rs 50 crore and more have been mandatory to ensure a swift action in case of fraud and prevent fraudsters from fleeing the country, a top official said today.


PTI
March 6, 2018



PTI
March 1, 2018



BusinessToday.in
New Delhi, March 1, 2018
Karti Chidambaram arrestedWhile finding Nirav Modi has become the country's biggest preoccupation, another big name accused of money laundering was arrested by the CBI yesterday: Karti Chidambaram, the son of former Finance Minister P. Chidambaram. The 46-year-old businessman was arrested at the Chennai airport on his return from the United Kingdom. Last May, the Enforcement Directorate had lodged an Enforcement Case Information Report (ECIR) - a police FIR equivalent - against junior Chidambaram, INX Media and its directors, Peter and Indrani Mukerjea, along with a couple of others under the provisions of the Prevention of Money Laundering Act (PMLA).Aircel to file for bankruptcy under RBI's new normsAircel filed for bankruptcy in the National Companies Law Tribunal (NCLT), Mumbai after its lenders and shareholders failed to reach a consensus about restructuring of its debt. The telecom company indicated that the decision by the RBI to do away with the various restructuring schemes triggered its move to file for bankruptcy protection. Banks with an exposure of Rs 15,500 crore may have to provide for at least 50% losses immediately as per regulatory guidelines.India is world's fastest growing major economyIndia regained its status as the world's fastest growing major economy in the October-December quarter, surpassing China for the first time in a year. Asia's third-largest economy grew 7.2 percent in the December quarter, its fastest in five quarters, Ministry of Statistics data revealed on Wednesday. That beat China's 6.8 percent and a forecast of 6.9 percent by analysts polled by Reuters, according to a Reuters reportPNB fraud: Nirav Modi refuses to appear before CBIDiamond merchant Nirav Modi has refused to appear before the CBI. He was summoned on his official email address to appear for questioning before the premier agency in the Rs 12,700 crore alleged fraud at Punjab National Bank's Mumbai branch. However, in what can be called as sheer brazenness on Nirav Modi's part, the businessman has declined saying he has a business to take care of, so he can't join the investigation.Modi scam fallout: Insolvency proceedings initiated against 4 diamond firms in FebruaryIt seems the busting of Nirav Modi and Mehul Choksi loan scam has taken the lid off the much deeper problem in the diamond industry. Ever since the Nirav Modi scam came to fore,  insolvency proceedings against four diamond companies -- Winsome Diamonds and Jewellery Limited and Forever Precious Jewellery and Diamonds (both owned by Jatin Mehta), Kohinoor Diamonds and JR Diamond -- have been initiated by operational creditors.CBI arrests auditor at PNBThe Central Bureau of Investigation (CBI) yesterday arrested an auditor of a Punjab National Bank branch at the centre of an alleged $2 billion fraud. This brings the number of bank employees held to seven as the investigation widens. CBI said the arrested auditor, M.K. Sharma, was \"allegedly responsible for auditing the systems and practices\" of Punjab National Bank's (PNB) Brady House branch in Mumbai and for reporting any problems to the zonal audit office, as reported by Reuters. 


Dipak Mondal
New Delhi, February 28, 2018
Ever since the Nirav Modi scam came to fore,  insolvency proceedings against four diamond companies have been initiated by operational creditors.


BusinessToday.in
New Delhi, February 26, 2018
Fugitive diamond trader Nirav Modi has settled in the eastern Caribbean island of St Kitts and is also acquiring its citizenship. Modi will be able carry on his business from there; More than two dozen companies have planned initial public offerings or IPOs worth over Rs 25,000 crore in this calendar. These include companies such as Hindustan Aeronautics and ICICI Securities; The Group of Ministers empowered for smooth implementation of GST has failed to arrive at a consensus on filing of returns. BusinessToday.in Editor Rajeev Dubey elaborates in this episode of The Good, The Bad, and The Ugly.


BusinessToday.in
February 16, 2018
While it is the job of the investigating agencies to find out who engineered the billion-dollar scam, there is no denying the fact that there was a disintegrated system in place that allowed the official to execute the fraud and stay undetected for so long.


PTI
New Delhi, April 6, 2017
The CBI has registered six separate cases against two Mumbai-based jewellery firms and their chief promoter Jatin Mehta for allegedly cheating three government banks to the tune of Rs 1,530 crore.


PTI
New Delhi, May 10, 2011
The total investments in SEZs as on March 31, are about Rs 2 lakh crore, Export Promotion Council for EOUs Chairman Jatin R Mehta said in a statement.


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