PNB fraud: CBI set to file fresh charges in $2-bn loan forgery case; Nirav Modi's kin, 3 employees likely to be booked
5 years, 1 month ago

PNB fraud: CBI set to file fresh charges in $2-bn loan forgery case; Nirav Modi's kin, 3 employees likely to be booked

Firstpost  

PNB in 2018 alleged that a few rogue employees had issued fake bank guarantees over several years to help jewellery groups—controlled by Modi and his uncle Mehul Choksi—raise funds in foreign credit. Mumbai: The Central Bureau of Investigation will soon file fresh charges in the $2 billion Punjab National Bank fraud case and detail how the alleged wrongdoing was carried out, according to a source with direct knowledge of the matter. In the police’s initial charges, billionaire jeweller Nirav Modi, 21 other people, including PNB officials, and three Modi companies were accused of being involved in fraudulent transactions that led to losses of roughly Rs 6,500 crore for PNB. PNB, India’s second-biggest state-run bank, in 2018 alleged that a few rogue employees had issued fake bank guarantees over several years to help jewellery groups—controlled by Modi and his uncle Mehul Choksi—raise funds in foreign credit.

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History of this topic

RBI Report: Bank frauds increased eight-fold in first half of current fiscal
2 weeks ago

RBI Report: Bank frauds increased eight-fold in first half of current fiscal

Deccan Chronicle  

New Delhi: Facing multiple challenges for the financial system in the country, the Reserve bank of India on Thursday said that the number of bank frauds witnessed a significant rise of eight-fold to Rs 21,367 crore in over 18,000 cases in the first half of the current fiscal. “The number of frauds during April-September stood at 18,461 involving Rs 21,367 …

Bengaluru engineer scammed of ₹11.8 crore in 'digital arrest' scam, duped by fake police, CBI officers over Skype
Trending News
2 weeks, 3 days ago

Bengaluru engineer scammed of ₹11.8 crore in 'digital arrest' scam, duped by fake police, CBI officers over Skype

Hindustan Times  

A Bengaluru software engineer, 39, from GKVK Layout, near Hebbal, recently became a victim of a digital arrest scam, losing a staggering ₹11.8 crore. Digital arrest of Ahmedabad man uncovers Taiwanese-linked racket: Police According to Times of India report, the incident, which unfolded between November 25 and December 12, was reported to the North-East Cybercrime, Economic offences, Narcotics police. The …

CBI books six in home loan fraud in Chennai; says developer inflated valuation
1 month ago

CBI books six in home loan fraud in Chennai; says developer inflated valuation

New Indian Express  

CHENNAI: CBI anti-corruption bureau on Wednesday held searches in Tambaram related to a fraud case filed against six people, including an NRI, for duping SBI and diverted sanctioned home loans worth Rs 3.67 crore, which later became non-performing assets. According to FIR, CBI named P Arivalagan, director of Atchaya Royal Infrastructure, as first accused and B Jayachandran, Suryanarayanan, D Santosh, …

Cyber fraud case: CBI raids 10 places in Delhi, Gurugram following complaint by I4C
Trending News
1 month ago

Cyber fraud case: CBI raids 10 places in Delhi, Gurugram following complaint by I4C

New Indian Express  

NEW DELHI: The Central Bureau of Investigation on Wednesday conducted searches at 10 locations across Delhi and its adjoining areas in connection with its probe into a case linked to cyber fraud involving embezzlement of Rs 117 crore, officials said. A senior CBI official said, “The investigation so far has revealed that fraudsters operating from overseas use digital platforms such …

CBI conducts searches in Delhi-NCR in connection with Rs 117 crore cyber fraud case
Trending News
1 month ago

CBI conducts searches in Delhi-NCR in connection with Rs 117 crore cyber fraud case

India TV News  

Cyber Fraud Case: The Central Bureau of Investigation conducted searches at 10 locations in Delhi and surrounding areas today in connection with an ongoing investigation of transnational cyber-enabled financial frauds involving Rs 117 crore, said officials. According to the CBI, the searches were conducted in an ongoing investigation into a case registered under Sections 403, 420 of the Indian Penal …

Bank fraud case: ED raids ex-directors, promoters of Kwality Ltd
1 month, 1 week ago

Bank fraud case: ED raids ex-directors, promoters of Kwality Ltd

Deccan Chronicle  

New Delhi: The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act, the sources said. …

IPS Officer Bhagyashree Navtake Arrested for Forgery and Conspiracy in ₹1,200 Crore Scam
2 months, 3 weeks ago

IPS Officer Bhagyashree Navtake Arrested for Forgery and Conspiracy in ₹1,200 Crore Scam

The Hindu  

Central Bureau of Investigation (CBI) has booked an IPS officer named Bhagyashree Navtake for forgery and criminal conspiracy in a ₹1,200 crore scam probe. The CBI investigation found instances of forgery, including registering three cases under one crime in a single day and obtaining complainants’ signatures without their presence. The case was filed based on a CID report highlighting procedural …

PNB fraud: ED attaches fugitive Nirav Modi’s properties, bank balance worth ₹29.75 crore
3 months, 4 weeks ago

PNB fraud: ED attaches fugitive Nirav Modi’s properties, bank balance worth ₹29.75 crore

Live Mint  

The Enforcement Directorate on Wednesday said it has provisionally attached “proceeds of crime” in the form of immovable properties and bank balances amounting to ₹29.75 crore in a case related to Punjab National Bank fraud by fugitive businessman Nirav Modi. In a statement, the ED said: “During course of investigation, assets worth ₹29.75 Crore of Nirav Modi & his group …

PNB fraud case: Fugitive Nirav Modi's assets worth ₹29.75 crore attached by ED
3 months, 4 weeks ago

PNB fraud case: Fugitive Nirav Modi's assets worth ₹29.75 crore attached by ED

Hindustan Times  

The Enforcement Directorate has provisionally attached assets worth ₹29.75 crore belonging to fugitive businessman Nirav Modi, as part of its ongoing investigation into the ₹6,498 crore Punjab National Bank fraud case, officials said on Wednesday. Nirav Modi, the mastermind behind the PNB scam, has been fighting extradition from the UK, where authorities arrested him in 2019. The scam, uncovered in …

Telangana Cybercrime Police Arrest Two in ₹175 Crore Fraud Case
4 months, 2 weeks ago

Telangana Cybercrime Police Arrest Two in ₹175 Crore Fraud Case

Deccan Chronicle  

Telangana Cybercrime officials have arrested two individuals involved in a massive ₹175 crore fraud. The investigation was initiated after the Cyber Security Bureau's data analysis team flagged numerous complaints reported on the National Cybercrime Reporting Portal against six bank accounts in the State Bank of India Shamsheergunj branch. The investigation linked approximately 600 complaints to these accounts.The primary suspect, operating …

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why
4 months, 3 weeks ago

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why

Live Mint  

Karnataka Government has instructed all its departments, public sector units, universities, and subordinate organizations to cease all transactions with the State Bank of India and Punjab National Bank, as quoted by The Economic Times. The Finance department issued a circular to all department heads, highlighting that the Karnataka Industrial Areas Development Board was unable to recover a deposit from Punjab …

5 more arrested in irregularities in Bagalkote tourism department case
5 months ago

5 more arrested in irregularities in Bagalkote tourism department case

Hindustan Times  

Five people have been arrested in the case related to the illegal transfer of over ₹2.47 crore from the Bagalkote tourism department, a police officer said. The case will be handed over to the Crime Investigation Department for further investigation With the arrest of five more accused by the Central Economic Crimes police on Wednesday the total number of people …

Fresh trouble for Vijay Mallya, CBI issues non-bailable warrant in ₹180-crore loan default case
6 months, 1 week ago

Fresh trouble for Vijay Mallya, CBI issues non-bailable warrant in ₹180-crore loan default case

Hindustan Times  

Fugitive businessman Vijay Mallya is now facing a fresh legal action by the Central Bureau of Investigation as a special CBI court issued a non-bailable warrant against him in the ₹180-crore loan default case linked to Indian Overseas Bank. Fugitive businessman Vijay Mallya The CBI, in its warrant, said the now-defunct Kingfisher Airlines promoter caused a wrongful loss of ₹180 …

CBI arrests Dheeraj Wadhawan in Rs 34,000 crore DHFL bank fraud investigation
7 months, 3 weeks ago

CBI arrests Dheeraj Wadhawan in Rs 34,000 crore DHFL bank fraud investigation

India TV News  

The Central Bureau of Investigation made a significant breakthrough on Tuesday as it apprehended Dheeraj Wadhawan in connection with the Rs 34,000 crore DHFL bank fraud probe. SEBI's actions In February of this year, the Securities Exchange Board of India took action by ordering the attachment of bank accounts, shares, and mutual fund holdings belonging to former DHFL promoters Dheeraj …

CBI arrests Dheeraj Wadhawan in ₹34,000 crore DHFL fraud
7 months, 3 weeks ago

CBI arrests Dheeraj Wadhawan in ₹34,000 crore DHFL fraud

Hindustan Times  

The Central Bureau of Investigation has arrested Dheeraj Wadhawan, promoter of Dewan Housing Finance Ltd, in connection with the ₹35,000 crore fraud with a consortium of 17 banks led by Union Bank of India, people familiar with the development said. The Wadhawan brothers were arrested by CBI on July 19, 2022, but on December 3 same year, a trial court …

CBI files supplementary charge sheet in land-for-job scam
10 months ago

CBI files supplementary charge sheet in land-for-job scam

Hindustan Times  

The Central Bureau of Investigation on Wednesday filed a supplementary charge sheet before a Delhi court in the alleged land-for-job scam and named the personal secretary of former Union railway minister Lalu Prasad Yadav as an accused. The supplementary charge sheet filed by the agency names three accused persons — Bhola Yadav and two job aspirants. The CBI charge sheet …

₹130-crore bank fraud : CBI court frames charges
1 year ago

₹130-crore bank fraud : CBI court frames charges

Hindustan Times  

A special CBI court has framed charges against five of the six accused in the alleged ₹130-crore bank fraud from 2020. An FIR into the matter was lodged in January 2020 on a complaint by chief manager, large corporate branch, PNB, Sector 17, Chandigarh. Charges have been framed against two bank officials, Ravi Rashmi Dhar, the then DGM of Punjab …

Two nabbed for ₹3.6-crore bank fraud in Panchkula
1 year, 1 month ago

Two nabbed for ₹3.6-crore bank fraud in Panchkula

Hindustan Times  

Police have arrested two persons for allegedly obtaining bank loans worth ₹3.6 crore by posing as permanent employees of PGIMER, Panjab University and Chandigarh MC. Police have arrested two people for a ₹ 3.6-crore bank fraud in Panchkula. The accused, Aarshpreet Singh of Nayagaon and Radhik Kalia of Baltana, Zirakpur, prepared forged documents including employee IDs, salary slips and Form …

Enough material against Naresh Goyal to process money laundering case: Court
1 year, 2 months ago

Enough material against Naresh Goyal to process money laundering case: Court

India Today  

A special court in Mumbai said on Friday that there was sufficient material to "prima facie establish the involvement" of Jet Airways founder Naresh Goyal and his wife in a money laundering case linked to an alleged bank fraud of Rs 538 crore. "The materials accompanying the Prosecution Complaint prima facie indicate how the proceeds of crime were generated through …

Chandigarh: Charges framed against nine accused
1 year, 2 months ago

Chandigarh: Charges framed against nine accused

Hindustan Times  

The special court of CBI has farmed charges against nine accused in a 2019 bank fraud case, wherein a bank was cheated of ₹3.7 crores. The case was registered by CBI on the basis of a written complaint in September 2019 by Jagannadan Ganesan, chief regional manager of Indian Overseas Bank, Regional Office, Chandigarh. It case was registered against accused …

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR
1 year, 3 months ago

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR

The Hindu  

A group of persons allegedly hacked into a payment gateway service provider company’s account and siphoned off funds worth over ₹16,180 crore from different bank accounts over a period of time, the Thane police said. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra’s Thane city of hacking …

Police register FIR after Rs 16,180 crore hacked from payment gateway company account
1 year, 3 months ago

Police register FIR after Rs 16,180 crore hacked from payment gateway company account

India TV News  

At least Rs 16,180 crore was taken from different bank accounts over a period of time after a group of persons allegedly hacked into a payment gateway service provider company's account, Thane Police said on Sunday. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra's Thane city of …

CBI searches premises of firm in ₹3,847.58-crore cheating case
1 year, 3 months ago

CBI searches premises of firm in ₹3,847.58-crore cheating case

Hindustan Times  

The Central Bureau of Investigation on Saturday carried out searches at four premises linked to a city-based firm and four of its promoters, who are accused of cheating a consortium of banks, led by State Bank of India, of ₹3,847.58 crore. The bank has alleged that the firm, Unity Infraprojects Limited, allegedly diverted the loan money it had obtained from …

Construction firm booked by CBI for cheating bank of ₹91.92 crore
1 year, 4 months ago

Construction firm booked by CBI for cheating bank of ₹91.92 crore

Hindustan Times  

The Central Bureau of Investigation has booked a construction company and its directors for allegedly duping Union Bank of India to the tune of ₹91.92 crore. In 2009, the company had obtained various credit facilities from the bank which were renewed and enhanced from time to time and the last credit facility was sanctioned/enhanced to ₹95 crore in 2013, the …

Two private firms, its directors booked for duping bank of ₹16.85 crore
1 year, 5 months ago

Two private firms, its directors booked for duping bank of ₹16.85 crore

Hindustan Times  

Mumbai: Two private firms, along with four other persons, have been booked recently for allegedly cheating Union Bank of India of ₹16.85 crore after diverting the sanctioned credit facilities to the borrower. HT Image According to the Central Bureau of Investigation, the loan account of the private venture – a Nagpur-based poultry firm – was classified as a Non-Performing Asset …

CBI probes firm accused of duping Union Bank of ₹21 crore
1 year, 5 months ago

CBI probes firm accused of duping Union Bank of ₹21 crore

Hindustan Times  

Mumbai: The Central Bureau of Investigation has initiated an investigation into a Mumbai-based metal-trading firm that is accused of cheating the public-sector Union Bank of India to the tune of around ₹21 crore. An unidentified official enters the building as an idol of Hindu god Ganesha is seen placed outside the entrance of Central Bureau of ) The forensic audit …

Videocon loan fraud case: Enough material to proceed against accused, says court
1 year, 5 months ago

Videocon loan fraud case: Enough material to proceed against accused, says court

Hindustan Times  

While taking cognizance of the charge sheet filed by the Central Bureau of Investigation against Chanda Kochhar, former managing director and chief executive officer of ICICI Bank, and others, the special CBI court has observed that the loan given to Videocon group companies were in violation of the Reserve Bank of India circular and there was enough material to proceed …

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore
1 year, 5 months ago

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore

Hindustan Times  

The Punjab National Bank on Wednesday filed a petition before the special PMLA court seeking release of fugitive diamond trader Nirav Modi’s properties worth ₹71.16 crore which had been attached by the Enforcement Directorate. PNB moves court, seeks release of Nirav Modi’s properties worth ₹ 71.16 crore The agency is probing the ₹13,850-crore loan fraud at the public sector bank. …

CBI books Delhi firm for cheating Union Bank of India of Rs 46 crore
1 year, 6 months ago

CBI books Delhi firm for cheating Union Bank of India of Rs 46 crore

India TV News  

The Central Bureau of Investigation filed an FIR against Delhi-based company Horizon Solution for allegedly cheating Union Bank of India to the tune of over Rs 46 crore in a loan fraud, officials said on Friday. The CBI has booked the East of Kailash-based company, its proprietor Zeba Urfi and guarantor Zaib Un Nisa on charges of criminal conspiracy, cheating, …

Ex-ICICI Bank CEO Chanda Kochhar got Rs 64 crore illegal gratification: CBI
1 year, 6 months ago

Ex-ICICI Bank CEO Chanda Kochhar got Rs 64 crore illegal gratification: CBI

India Today  

The Central Bureau of Investigation asked the Bombay High Court to take cognisance of its charge sheet, claiming that former ICICI Bank CEO and MD Chanda Kochhar "misappropriated the bank's funds for her own use" and got Rs 64 crore as "illegal gratification". The central probe agency said the amount was transferred through a complex structure involving various companies of …

CBI registers case against IL&FS subsidiary for defrauding 19 banks of Rs 6,524 cr
1 year, 7 months ago

CBI registers case against IL&FS subsidiary for defrauding 19 banks of Rs 6,524 cr

India TV News  

New Delhi: The Central Bureau of Investigation has filed a case against IL&FS Transportation Network Ltd and its directors for allegedly defrauding 19 banks of Rs 6,524 crore between 2016 and 2018, officials said on Friday. The accused persons are white colour criminals and very well know the intricacies of the law and know to save themselves from the clutches …

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium
1 year, 7 months ago

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium

Hindustan Times  

Mumbai: The Central Bureau of Investigation recently registered a case against a Raigad-based steel processing firm and its directors for allegedly causing a loss of ₹1,017.93 crore to a State Bank of India -led bank consortium in the form of unpaid loans. The SBI, which is the complainant in the case, alleged that the firm had siphoned off a portion …

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot
1 year, 8 months ago

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot

Hindustan Times  

Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision in connection with an alleged fraud case wherein coins worth ₹11 crore had gone missing from the vaults of a State Bank of India branch in Rajasthan’s Karauli. Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision …

PNB scam: PMLA court grants bail to Nirav Modi’s close aide
1 year, 8 months ago

PNB scam: PMLA court grants bail to Nirav Modi’s close aide

Hindustan Times  

MUMBAI: A special PMLA court in the city on Tuesday granted bail to Subhash Parab, a close aide of fugitive diamantaire Nirav Modi, observing that the main beneficiary of the proceeds of crime is still beyond the reach of the law enforcement agencies even after five years of registration of the case. PNB scam: PMLA court grants bail to Nirav …

ICICI Bank loan fraud: CBI files charge sheet against Kochhars, Dhoot
1 year, 9 months ago

ICICI Bank loan fraud: CBI files charge sheet against Kochhars, Dhoot

India Today  

The CBI has filed a charge sheet against former MD and CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar and Videocon Group founder Venugopal Dhoot in a Rs 3,250 crore loan fraud case, officials said on Saturday. The CBI has moved to file its final report before a special court in Mumbai without the mandatory requirement of sanction …

ICICI Bank loan fraud case: CBI files charge sheet against Kochhars, Dhoot
1 year, 9 months ago

ICICI Bank loan fraud case: CBI files charge sheet against Kochhars, Dhoot

Hindustan Times  

The Central Bureau of Investigation last week filed a charge sheet against former ICICI Bank managing director Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and six others in connection with quid-pro-quo loans granted by ICICI Bank to some Videocon Group entities in return for Dhoot’s investment in Deepak Kochhar’s company. Chanda Kochhar and Deepak Kochhar are …

Former IDBI GM conspired with Vijay Mallya over short-term loan to Kingfisher Airlines: CBI
1 year, 9 months ago

Former IDBI GM conspired with Vijay Mallya over short-term loan to Kingfisher Airlines: CBI

The Hindu  

A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary charge sheet filed in a Mumbai court. As per the charge sheet, former IDBI Bank general manager Buddhadev Dasgupta abused his position, conspired with colleagues and Vijay Mallya in …

Mehul Choksi off Interpol's wanted list, can travel freely across world
1 year, 9 months ago

Mehul Choksi off Interpol's wanted list, can travel freely across world

India Today  

Interpol has withdrawn the Red Corner Notice issued against fugitive businessman Mehul Choksi. Mehul Choksi had recently filed a petition before the Antigua High Court making the Indian government respondents in the case. Mehul Choksi and his nephew Nirav Modi are accused of orchestrating India's biggest banking fraud, which is estimated to be around $2 billion. Also Read | CBI …

Bengal Teachers' Recruitment Scam: CBI Files Fresh FIR To Probe Irregularities By Primary Education Board
1 year, 9 months ago

Bengal Teachers' Recruitment Scam: CBI Files Fresh FIR To Probe Irregularities By Primary Education Board

ABP News  

The Central Bureau of Investigation has filed a fresh FIR into the allegation of irregularities in the recruitment of primary school teachers by the West Bengal Board of Primary Education, as reported by the news agency ANI. In October 2022, ED arrested Trinamool Congress MLA, and Ex-President of WBBPE Manik Bhattacharya in the case pertaining to the teachers' recruitment scam …

Latest NIA Chargesheet Against PFI Names 12 Key Members; 37 ‘Terror Funding’ Bank Accounts Frozen
1 year, 9 months ago

Latest NIA Chargesheet Against PFI Names 12 Key Members; 37 ‘Terror Funding’ Bank Accounts Frozen

News 18  

The NIA’s fifth chargesheet against the Popular Front of India this month named 12 members of the banned outfit’s national executive council. The central agency has frozen 77 bank accounts, including 37 belonging to the PFI, which were suspected of being “terror funding channels”. The probe has also exposed a trail of PFI’s funding to terror operatives and weapons trainers …

ICICI loan fraud case: Court extends CBI custody of Kochhars, Venugopal Dhoot
2 years ago

ICICI loan fraud case: Court extends CBI custody of Kochhars, Venugopal Dhoot

Deccan Chronicle  

New Delhi: The Central Bureau of Investigation court on Wednesday granted two days more of custody to the CBI of three accused -Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot- in the alleged ICICI bank-Videocon money laundering case. In the alleged fraud case, CBI had sought custody of Videocon chairman Venugopal Dhoot, Former Managing Director and CEO of ICICI bank Chanda …

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case
2 years ago

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case

Op India  

The Central Bureau of Investigation on Friday filed three fresh FIRs against fugitive diamantaire Mehul Choksi and two jewellery brands, Nakshatra Brands Limited and Gitanjali Gems Limited. The FIRS were against Nakshatra Brands Ltd and Gitanjali Gems Ltd, Mehul Choksi, who is the managing director of Gitanjali Gems Ltd and guarantor for Nakshatra Brands Ltd; Dhanesh Vrajlal Sheth, director of …

CBI Files Fresh FIRs Against Fugitive Mehul Choksi, Jewellery Brands Gitanjali and Nakshatra in Rs 6,700 Cr Bank Fraud Case
2 years ago

CBI Files Fresh FIRs Against Fugitive Mehul Choksi, Jewellery Brands Gitanjali and Nakshatra in Rs 6,700 Cr Bank Fraud Case

News 18  

The Central Bureau of Investigation on Friday filed three fresh FIRs against fugitive businessman Mehul Choksi, and jewellery brands Gitanjali and Nakshatra. The FIRs were filed on a complaint from the Punjab National Bank bringing to light an additional Rs 6,746 crore loss incurred by it and other consortium banks, officials said. Four years after his dramatic escape and failure …

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case
2 years ago

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case

India Today  

The Central Bureau of Investigation has registered two fresh FIRs against fugitive diamentaire Mehul Choksi and two jewellery brands--Nakshatra Brands Limited and Gitanjali Gems Limited--for defrauding a consortium of banks of over Rs 6,000 crore. CBI officials received complaints from Vijay Kumar Wadhwa, deputy general manager of the zonal office of the Punjab National Bank in Mumbai, against Nakshatra Brands …

Crime Branch Officials Still Unclear About Total Money Embezzled: Report - News18
2 years, 1 month ago

Crime Branch Officials Still Unclear About Total Money Embezzled: Report - News18

News 18  

As cases pile up in the multi-crore fraud at the Punjab National Bank in Kerala, the Kozhikode district Crime Branch team that has been entrusted with the probe in the scam is reportedly still unclear about the actual amount lost in the embezzlement. According to a report by The Hindu, three new cases have been registered in the case and …

ED files chargesheet against Jammu group, promoters in bank loan fraud
2 years, 1 month ago

ED files chargesheet against Jammu group, promoters in bank loan fraud

India TV News  

The Enforcement Directorate official said on Monday that a chargesheet under the Anti-Money Laundering Law has been filed against the promoters of a Jammu-based business group in a case linked to an alleged bank loan fraud involving an amount of more than Rs 91 crore. Raj Kumar Gupta, Radhika Mahajan, Rajat Mahajan, Jhelum Industries, Jhelum Infra Projects India Private Limited, …

Explained: How Nirav Modi scammed Punjab National Bank for Rs 14,000 crore
2 years, 1 month ago

Explained: How Nirav Modi scammed Punjab National Bank for Rs 14,000 crore

Firstpost  

Nirav Modi and his uncle, Mehul Choksi, created a complex web of deception through fraudulent Letters of Undertaking to siphon off Rs 14,000 crore from state-owned Punjab National Bank New Delhi: Pulling off one of the biggest bank frauds in the country, fugitive diamantaire Nirav Modi and his uncle Mehul Choksi created a complex web of deception through fraudulent Letters …

What is the PNB fraud case against Nirav Modi and will the fugitive finally be forced to return home?
2 years, 2 months ago

What is the PNB fraud case against Nirav Modi and will the fugitive finally be forced to return home?

Firstpost  

The High Court in London has allowed the extradition of fugitive diamantaire Nirav Modi to India. He fled the country in January 2018, days before the scam was uncovered Fugitive diamond billionaire Nirav Modi’s appeal against extradition to India has been turned down by the High Court in London today. According to Indian Express, the transcripts of Nirav Modi’s conversations …

PNB Scam Case: UK court allows Nirav Modi's extradition to India
2 years, 2 months ago

PNB Scam Case: UK court allows Nirav Modi's extradition to India

Firstpost  

In its ruling on Wednesday, the London High Court ruled that the extradition of Nirav Modi to India will not be unjust. Nirav Modi is the prime accused in the PNB scam case Nirav Modi Extradition: In a big breakthrough for Indian agencies, a London court cleared the extradition of fugitive businessman Nirav Modi to India. Nirav Modi is the …

Honour extradition treaty, don't pick holes: UK Court in Nirav Modi case
2 years, 2 months ago

Honour extradition treaty, don't pick holes: UK Court in Nirav Modi case

India Today  

The high court in London on Wednesday held that since India is a “friendly foreign power”, the UK must not pick holes in the assurances by the Indian government that Nirav Modi will be provided with adequate medical assistance. Hearing Nirav Modi’s plea against extradition to India, the court said, “India is a “friendly foreign power” and the UK must …

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