Page 6 - Nirav Modi Scam At Pnb

ED attaches assets worth Rs 6.37 bn of Nirav Modi, family in 5 countries

The assets have been attached as part of five separate orders issued by the central probe agency

Jewellery exporters start campaign, look to contain fallout of recent scams

The campaign highlights the sector's contribution to economy and employment

PNB fraud: ED seeks to attach Nirav Modi's foreign assets worth Rs 40 bn

The identified foreign assets are in the name of Modi, his family members and in some cases in the name of firms that the agency has called 'bogus or dummy'

PNB puts nearly two dozen NPAs on sale to recover over Rs 13.20 billion

Punjab National Bank has put nearly two dozen non-performing accounts (NPAs) on sale to recover over Rs 1,320 crore. The bank's Stressed Assets Targeted Resolution Action (SASTRA) Division, which is handling the sale of stressed assets to recover dues, has put on sale a total of 21 accounts which cumulatively owe PNB Rs 1,320.19 crore. "We intend to place these accounts for sale to ARCs/NBFCs/other banks/FIs etc, on terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said in a notification. The accounts include Moser Baer Solar, which has an outstanding of Rs 233.06 crore, Divine Alloys & Power Co Ltd Rs 200.87 crore, Divine Vidyut Rs 132.66 crore, Chincholi Sugar & Bio Industries Rs 114.42 crore, Arshiya Northern FTWZ Ltd Rs 96.70 crore, Birla Surya Rs 73.58 crore, Shri Saikrupa Sugar & Allied Industries Rs 63.35 crore and Raja Forgings & Gears Ltd Rs 59.73 crore. Templeton Foods (Rs 53.17 crore), Paritran Medical College

ED charges are false and baseless: Mehul Choksi breaks silence on PNB Scam

'They have attacked my properties illegally without there being any basis of the same,' Choksi said

PNB scam: Interpol issues red corner against Nirav's sister Purvi Modi

According to ED officials, Purvi Modi and other family members of Nirav Modi were the recipients of the proceeds of the crime

How a fancy diamond helped Nirav Modi in India's biggest bank fraud

The rapid-fire sales were described as part of a plan in which Modi and associates "fraudulently borrowed approximately $4 billion over a period of years

PNB scam: Nirav Modi, Mehul Choksi's illegal Alibaug bungalows to be razed

All these bungalows have come up allegedly in violation of Coastal Regulation Zone norms and do not conform to their sanctioned plans

PNB scam: Ex-MD Ananthasubramanian, named in CBI chargesheet, gets bail

Usha Ananthasubramanian was the MD & CEO of PNB before moving to Allahabad Bank, from where she was dismissed as MD & CEO on Aug 14

UK authorities confirm Nirav Modi's presence, CBI seeks extradition

On July 2, the Interpol had issued a Red Corner Notice (RCN) against Nirav Modi under money laundering charges levelled by the Enforcement Directorate

PNB fraud: Allahabad Bank says Ananthasubramanian ceases to be MD & CEO

State-owned Allahabad Bank today said Usha Ananthasubramanian no longer heads the bank following the Finance Ministry directive yesterday to remove her from the post. "We have to inform you that the Ministry of Finance, Department of Financial Services vide notification dated August 13, 2018, has notified that...in exercise of powers under section 9 of the Banking Companies Act, 1970 the central government hereby removes Usha Ananthasubramanian, from the office of Managing Director and Chief Executive Officer of Allahabad Bank, with immediate effect," the bank said in a regulatory filing. Accordingly, Usha Ananthasubramanian has ceased to be the MD&CEO of the bank with effect from the date of aforesaid government notification, it said. She was divested of her powers as the head of the bank three months ago as a fallout of the Rs 14,000 crore fraud at Punjab National Bank after being named in the probe agency CBI's chargesheet. Ananthasubramanian was heading PNB before taking ...

PNB Fraud: Govt sacks Usha Ananthasubramanian as Allahabad Bank chief

Ananthasubramanian was MD and CEO of PNB between August 2015 and May 2017 and served as ED at the bank between July 2013 and November 2013

Court asks Nirav Modi, family to appear before Sept 25 under fugitive act

Special Fugitive Economic Offenders Act court said if they fail to appear, their assets will be confiscated under the newly enacted Act aimed at curbing big ticket economic crimes

3 tax notices under foreign black money law slapped on Nirav : Revenue Dept

The department has also attached 173 paintings and artworks and filed four prosecution cases against Modi

India eyes bringing back fugitive Mehul Choksi under Extradition Act 1962

The notification specified that the provisions of India's Extradition Act, 1962 shall apply to Antigua and Barbuda

Mehul Choksi-Nirav fraud: Sebi probe moves ahead, no clean chit to anyone

The regulator is probing alleged fraudulent trading, corporate governance-related violations

'No adverse information' received against Mehul Choksi, says Antigua

The Antiguan authorities found two instances of Sebi action against Choksi's firms in 2014 and 2017 and sought more information on them

Mehul Choksi moved to Antigua this month, got local passport: Govt

Mehul Choksi had fled the country in the first week of January, nearly a fortnight before country's biggest banking fraud surfaced.

PNB scam: Mehul Choksi seeks cancellation of NBWs, cites fear of lynching

Choksi, in his application moved before the special PMLA court, claimed he faces a threat to his life not only from his former employees and debtors but also from jail staff and inmates

Fraud-hit PNB eyes biggest bank profit, may sell stake in housing finance

The 124-year-old PNB is trying to regain its financial health and credibility following the uncovering of a $2 billion fraud this year