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ED files chargesheet on Nirav Modi case; eight banks likely named

"Since the instances of round-tripping of funds are different in the case of Nirav Modi and Mehul Choksi, we plan to file another chargesheet soon," said an official.....»»

Category: topSource: business-standardMay 24th, 2018

PNB fraud: CBI names 2 EDs, ex-CEO Usha Ananthasubramanian in charge sheet

Central Bureau of Investigation (CBI) found their involvement in the Rs 140 billion fraud related to group of companies belonging to Nirav Modi and Mehul Choksi.....»»

Category: topSource: business-standardMay 14th, 2018

PNB Scam: Two bank execs removed; Allahabad Bank chief to step down

Central Bureau of Investigation (CBI) found their involvement in the Rs 140 billion fraud related to group of companies belonging to Nirav Modi and Mehul Choksi.....»»

Category: topSource: business-standardMay 14th, 2018

Bank will bounce back from fraud hit in 6 months, says PNB Chief

In February, PNB reported the Rs 130 billion fraud committed by the accused diamantaire Nirav Modi and his uncle Mehul Choksi -- both of whom are on the run.....»»

Category: topSource: business-standardMay 1st, 2018

Fraud-hit PNB to hire detective agencies to locate untraceable borrowers

The Delhi-headquartered bank has been at the receiving end of the over Rs 130 billion fraud involving diamond merchants Nirav Modi and Mehul Choksi.....»»

Category: topSource: business-standardApr 25th, 2018

PNB fraud: CBI court issues non-bailable warrant against Mehul Choksi

The CBI court had last week issued a non-bailable warrant against Nirav Modi.....»»

Category: topSource: business-standardApr 11th, 2018

CBI probing Rs 52.8-bn loan to Mehul Choksi by ICICI-led consortium

It is alleged that Choksi and Modi got LoUs and Foreign Letters of Credit (FLCs) of $2 billion issued in favour of foreign branches of Indian banks based on fraudulent claims.....»»

Category: topSource: business-standardApr 11th, 2018

CBI court issues non-bailable warrants against Nirav Modi and Mehul Choksi

Both Choksi and Modi have been booked in two cases each related to the bank fraud.....»»

Category: topSource: business-standardApr 8th, 2018

CBI Court issues non-bailable warrants against Nirav Modi and Mehul Choksi

Both Choksi and Modi have been booked in two cases each related to the bank fraud.....»»

Category: topSource: business-standardApr 8th, 2018

FedEx"d Diamonds Fueled India"s Largest Bank Fraud

Three bankrupt US firms with “direct” links to the Indian billionaire Nirav Modi were involved in transactions related to an alleged multib.....»»

Category: blogSource: zerohedgeAug 31st, 2018

PNB fraud: ED to seek immediate confiscation of Nirav Modi"s 70-bn assets

A court-issued non-bailable warrant is already pending against Modi and the ED has also moved the Interpol to get a global arrest warrant issued against him, sometime back.....»»

Category: topSource: business-standardMay 27th, 2018

Rs 140-billion PNB-Nirav Modi fraud case: How money changed hands

The charge sheet was filed against Modi and 23 others associated with him.....»»

Category: topSource: business-standardMay 25th, 2018

Nirav Modi closes Ala Moana Center store amid fraud allegations against billionaire founder

Nirav Modi, a luxury jewelry store in Ala Moana Center is closed, following the company's Chapter 11 bankruptcy filling in New York and reports that its billionaire owner has been charged with bank fraud in India. The jewelry company is owned by I.....»»

Category: topSource: bizjournalsMay 24th, 2018

ED files charge sheet against Nirav Modi over $2-billion PNB fraud

The charge sheet also details the attachments made by the agency against Modi and his associates.....»»

Category: topSource: business-standardMay 24th, 2018

Nirav Modi scam: PNB Ex-MD knew it all, could have averted Rs 130-bn fraud

In its 12,000-page charge sheet, CBI claims that Usha Ananthasubramanian and some other senior bank officials were aware about Nirav Modi's fraudulent dealings, but kept misleading RBI.....»»

Category: topSource: business-standardMay 22nd, 2018

Moody"s downgrades PNB"s rating due to Rs 144 bn-Nirav Modi fraud

Moody's estimates that PNB will require external capital of about Rs 120-130 billion in fiscal 2019 to meet the minimum Basel III CET1 ratio.....»»

Category: topSource: business-standardMay 21st, 2018

CBI may seek red corner notice from Interpol against Nirav Modi, Choksi

The PNB had approached the CBI with a complaint on the basis of which the agency had registered an FIR against Modi.....»»

Category: topSource: business-standardMay 20th, 2018

PNB refuses to disclose details of Nirav Modi scam as it may hamper probe

The bank was asked to provide details of inspection that resulted in detection of the fraud and provide a copy of inspection reports.....»»

Category: topSource: business-standardMay 20th, 2018

PNB refuses to part with details of Nirav Modi scam as it may hamper probe

The bank was asked to provide details of inspection that resulted in detection of the fraud and provide a copy of inspection reports.....»»

Category: topSource: business-standardMay 20th, 2018

Modi"s counter attack to Congress on PNB scam after Karnataka polls

PNB issued over 1,200 fraudulent LoUs to Nirav Modi firms since 2011, of which around 400 were issued during the previous government's regime.....»»

Category: topSource: business-standardMay 9th, 2018