PNB-Nirav Modi bank scam: Both internal, external auditors failed to detect fraud, CA professionals must introspect, says Arun Jaitley
7 years, 1 month ago

PNB-Nirav Modi bank scam: Both internal, external auditors failed to detect fraud, CA professionals must introspect, says Arun Jaitley

India TV News  

Reacting to the country’s biggest ever bank fraud, Finance Minister Arun Jaitley on Tuesday said that the PNB scam of Rs 11,400 crore involving billionaire jeweler Nirav Modi was a result of failure of management and auditors, adding that the government will chase down those who cheat the banking system. If both internal and external auditors have looked other way and failed to detect then I think CA professionals must introspect. Also, the Income Tax Department today raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and associated firms in connection with the case. Choksi, and his relative Nirav Modi and others, are being investigated by multiple probe agencies after it recently came to light, following a complaint by the Punjab National Bank, that they allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees o f the bank.

Bank Pnb Jaitley Nirav Modi Choksi  jaitley  tax  minister  finance  modi  scam  introspect  gitanjali  bank  nirav  external  internal  failed  pnbnirav  management  fraud  professionals

History of this topic

CBI names Nirav Modi’s sister in supplementary charge sheet
3 days, 14 hours ago

CBI names Nirav Modi’s sister in supplementary charge sheet

Hindustan Times  

PNB fraud: Nirav Modi MUMBAI: The Central Bureau of Investigation on Monday filed the third supplementary charge sheet in the multi-crore fraud at Punjab National Bank case, naming Purvi Modi, sister of fugitive diamond trader Nirav Modi, and a certain Aditya Nanavati as accused in the case. It is claimed that Purvi was a director in Dubai and Hong Kong …

Bank fraud case: ED raids ex-directors, promoters of Kwality Ltd
4 months 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. …

PNB fraud: ED attaches fugitive Nirav Modi’s properties, bank balance worth ₹29.75 crore
6 months, 2 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
6 months, 2 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 …

Lender Banks Required To Provide Audit Reports To Borrowers & Allow Representation Before Classifying Accounts As Fraud: Gujarat High Court
1 year ago

Lender Banks Required To Provide Audit Reports To Borrowers & Allow Representation Before Classifying Accounts As Fraud: Gujarat High Court

Live Law  

The Gujarat High Court while partly allowing a special civil application has emphasized the importance of lender banks affording borrowers the opportunity to review audit reports and present their case before categorizing an account as fraudulent. During meetings held on 18.08.2020 and 29.09.2020, discussions were held regarding forensic audit reports dated 11.08.2020 and 18.09.2020, along with various related issues, including …

PNB scam: PMLA court grants bail to Nirav Modi’s close aide
1 year, 11 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 …

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case
2 years, 3 months 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 registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case
2 years, 3 months 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 …

Explained: How Nirav Modi scammed Punjab National Bank for Rs 14,000 crore
2 years, 4 months 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 …

Honour extradition treaty, don't pick holes: UK Court in Nirav Modi case
2 years, 5 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 …

Gems, jewellery among Nirav Modi's Rs 250 crore assets attached by ED
2 years, 8 months ago

Gems, jewellery among Nirav Modi's Rs 250 crore assets attached by ED

India Today  

The Enforcement Directorate has attached properties, jewellery and bank balances, amounting to Rs 253.62 crore, belonging to fugitive jeweler Nirav Modi under the Prevention of Money Laundering Act. Some assets of Nirav Modi were identified in the form of gems and jewellery lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached under …

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country
2 years, 9 months ago

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country

Firstpost  

Former promoters of Dewan Housing Finance Ltd are among 13 accused who have been arrested for defrauding a consortium of 17 banks of Rs 34,615 crore The CBI has booked former CMD Kapil Wadhawan and director Dheeraj Wadhawan of Dewan Housing Finance Ltd in the “biggest” banking fraud in India. The audit of DHFL account books showed that the company …

Nirav Modi's close aide brought back to India by CBI in PNB scam case
2 years, 11 months ago

Nirav Modi's close aide brought back to India by CBI in PNB scam case

India Today  

Subhash Shankar, a close aide of fugitive diamantaire Nirav Modi, has been brought back to Mumbai by the CBI after he was nabbed in Cairo. This was a major operation by CBI officials investigating Nirav Modi in connection with the PNB fraud case. Nirav Modi is wanted in India on charges of fraud and money laundering in the estimated USD …

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt
3 years, 1 month ago

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt

ABP News  

New Delhi: Taking a dig at Prime Minister Narendra Modi over the recent alleged bank fraud incidents in the country, Congress leader Rahul Gandhi on Sunday said such frauds have never taken place with people’s money in the history of Independent India. “Till now Rs 5,35,000 crore bank frauds have taken place during Modi era - never in 75 years …

ABG Shipyard bank fraud: SBI claims there was no delay in the filing of case
3 years, 1 month ago

ABG Shipyard bank fraud: SBI claims there was no delay in the filing of case

India TV News  

ABG Shipyard bank fraud: SBI claims there was no delay in the filing of case ABG Shipyard fraud is much higher than the one perpetrated by Nirav Modi and his uncle Mehul Choksi, who allegedly cheated the Punjab National Bank of around Rs 14,000 crore through the issuance of fraudulent Letters of Undertaking. Highlights CBI recently booked ABG Shipyard Limited …

US court junks Nirav Modi's plea seeking dismissal of fraud allegations against him
3 years, 5 months ago

US court junks Nirav Modi's plea seeking dismissal of fraud allegations against him

Firstpost  

The allegations were made by Richard Levin, the court appointed trustee of three US corporations indirectly owned by Nirav Modi previously Washington: A bankruptcy court in New York has dismissed a petition of fugitive diamond merchant Nirav Modi and his associates, seeking dismissal of fraud allegations against them. The allegations were made by Richard Levin, the court appointed trustee of …

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?
3 years, 9 months ago

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?

The Hindu  

The story so far: The Enforcement Directorate on June 23 came out with a statement saying that it has seized assets worth ₹18,170.02 crore belonging to three fugitive businessmen. The seized assets belong to liquor baron Vijay Mallya and diamond traders Nirav Modi and Mehul Choksi — all three left India before law enforcement agencies could nab them for fraud. …

Banks in Losses After Fraud By Vijay Mallya, Mehul Choksi and Nirav Modi Get Crores in Attached Assets from ED
3 years, 9 months ago

Banks in Losses After Fraud By Vijay Mallya, Mehul Choksi and Nirav Modi Get Crores in Attached Assets from ED

News 18  

The Directorate of Enforcement has transferred attached assets worth Rs 8,441.5 crore to public sector banks who suffered losses due to fraud by fugitive businessmen Vijay Mallya, Mehul Choksi and Nirav Modi. “The agency not only seized assets worth Rs 18,170.02 crore in the case of Vijay Mallya, Nirav Modi and Mehul Choksi under PMLA but also transferred a part …

PNB Fraud: Warrant Against Nirav Modi's Sister, Brother-in-law Kept in Abeyance
3 years, 11 months ago

PNB Fraud: Warrant Against Nirav Modi's Sister, Brother-in-law Kept in Abeyance

News 18  

A special PMLA court on Thursday kept in abeyance the warrant issued against the sister and brother-in-law of fugitive diamond merchant Nirav Modi till further orders. Modi's sister Purvi and her husband Maiank Mehta had "turned approvers" in the USD 2 billion PNB fraud case, in which Modi and his uncle Mehul Choksi are the prime accused. Modi, who is …

Nirav Modi to Vijay Mallya: Here's a List of Economic Offenders Who Fled India After Being Named in Massive Loan Frauds
4 years, 1 month ago

Nirav Modi to Vijay Mallya: Here's a List of Economic Offenders Who Fled India After Being Named in Massive Loan Frauds

News 18  

Diamantaire Nirav Modi, who was wanted in India on charges of fraud and money laundering in Punjab National Bank scam case, on Thursday lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts. According to a report published in Business Today in September last year, Union Minister …

CBI files two cases for alleged bank fraud of over Rs 200 crore
4 years, 1 month ago

CBI files two cases for alleged bank fraud of over Rs 200 crore

India TV News  

The Central Bureau of Investigation has registered two separate cases related to bank fraud and conducted searches at 8 locations in Delhi, Ahmedabad, Gandhinagar and Gurgaon. The first case was registered against a private company based at Ahmedabad and others including its Directors and unknown public servants/persons on a complaint from State Bank of India. State Bank of India, Ahmedabad …

PNB Scam: Nirav Modi's Sister Moves Court to Get Non-bailable Warrants Cancelled
4 years, 1 month ago

PNB Scam: Nirav Modi's Sister Moves Court to Get Non-bailable Warrants Cancelled

News 18  

Mumbai: Fugitive diamond trader Nirav Modi's sister and her husband on Thursday approached a court here seeking cancellation of non-bailable warrants against them in the Punjab National Bank fraud case. Purvi Modi, Nirav Modi's younger sister, is a Belgian national while her husband Maiank Mehta is a British citizen. "Purvi Modi and her husband Maiank Mehta turned approver for assisting …

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi
4 years, 1 month ago

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi

News 18  

The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. Choksi, 61, is the maternal uncle of Nirav Modi who is the other prime accused in the alleged over USD 2 …

Nirav Modi's Extradition Soon? Fugitive Diamantaire's Trial Concludes, Verdict Expected On Feb 25
4 years, 2 months ago

Nirav Modi's Extradition Soon? Fugitive Diamantaire's Trial Concludes, Verdict Expected On Feb 25

ABP News  

PM Narendra Modi To Meet All Chief Ministers Ahead Of Coronavirus Vaccine Rollout The hearing of the Nirav Modi extradition case concluded on Friday, and it can be hoped that the Indian Authorities are one step closer to bringing the fugitive back. Modi who is accused of defrauding the Punjab National bank in India was arrested from the Central Bank …

Nirav Modi's sister, brother-in-law turn approver in PNB scam case, property worth Rs 579 cr to be confiscated
4 years, 2 months ago

Nirav Modi's sister, brother-in-law turn approver in PNB scam case, property worth Rs 579 cr to be confiscated

India TV News  

Fugitive diamantaire Nirav Modi's sister and her husband have turned approver in the Punjab National Bank fraud case. Purvi Mehta and her husband Maiank Mehta have filed an application before Special PMLA Court in Mumbai for allowing them to seek pardon under Section 306 and 307 of the CrPC. Prosecution complaints were filed by the Enforcement Directorate before the Special …

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills
4 years, 3 months ago

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills

News 18  

Probing a Rs 299-crore Indian Overseas Bank loan fraud case, similar to the alleged USD 2 billion worth PNB swindle, the Enforcement Directorate has found that the accused “paid” for the air travel and hotel stay of a senior bank manager and his family as kickbacks. The central probe agency said “lapses” were also detected on the part of at …

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases
4 years, 3 months ago

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases

India TV News  

In a major banking fraud, prominent banks in the country have been cheated of over 500 crore rupees. According to the complaints registered with the probe agency, a consortium of banks including the State Bank of India was duped of Rs 452.62 crores and Bank of Baroda of Rs 73 crores. The first case was registered on the complaint from …

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt
4 years, 7 months ago

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt

News 18  

The Ministry of Corporate Affairs on Tuesday said Punjab National Bank has received over Rs 24 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US. In 2018, the lender had informed the ministry that three companies promoted by Nirav Modi — Firestar Diamond, Inc, A Jaffee, Inc and Fantasy, Inc had …

NCLAT Sets Aside Order Against Former PNB Official in Nirav Modi Case
4 years, 7 months ago

NCLAT Sets Aside Order Against Former PNB Official in Nirav Modi Case

News 18  

The National Company Law Appellate Tribunal has set aside an order to implead a former Executive Director of the Punjab National Bank in a matter related to Rs 14,000 crore scam involving diamond merchant Nirav Modi. In January 2019, the National Company Law Tribunal directed impleading 19 people, including the bank's former Executive Director K V Brahmaji Rao, in the …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 9 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

PNB scam: Indian govt submits more proof against fugitive Nirav Modi in money laundering case
4 years, 10 months ago

PNB scam: Indian govt submits more proof against fugitive Nirav Modi in money laundering case

Firstpost  

The Indian government on Wednesday submitted further documents as “corroboratory evidence” in its case of fraud and money laundering against fugitive diamond merchant Nirav Modi, who is contesting his extradition to India at an ongoing hearing in Westminster Magistrates’ Court in London London: The Indian government on Wednesday submitted further documents as “corroboratory evidence” in its case of fraud and …

Nirav Modi, aides forged diamond sales to siphon off huge funds from PNB; HSBC, audit firm questioned fugitive's deals: Probe report
5 years, 2 months ago

Nirav Modi, aides forged diamond sales to siphon off huge funds from PNB; HSBC, audit firm questioned fugitive's deals: Probe report

Firstpost  

New Delhi: Hundreds of crores of rupees illegally siphoned off from Punjab National Bank were being channelised from one account to another by fugitive dimantaire Nirav Modi and his close associates. The first bank that raised the issue was HSBC and it was followed by an audit firm namely Manish Modi & Associates which questioned the huge transactions without selling …

PNB Scam: Court refuses to cancel ED warrant against Mehul Choksi
5 years, 3 months ago

PNB Scam: Court refuses to cancel ED warrant against Mehul Choksi

India TV News  

PNB Scam: Court refuses to cancel ED warrant against Mehul Choksi A court on Saturday refused to cancel a non-bailable warrant issued by the Enforcement Directorate against fugitive diamond merchant Mehul Choksi, a key accused in the alleged Punjab National Bank scam. A court on Saturday refused to cancel a non-bailable warrant issued by the Enforcement Directorate against fugitive diamond …

Nirav Modi declared fugitive economic offender in PNB scam case
5 years, 3 months ago

Nirav Modi declared fugitive economic offender in PNB scam case

India TV News  

Diamantaire Nirav Modi, the key accused in the USD 2 billion Punjab National Bank fraud case was declared a fugitive economic offender by a special court in Mumbai on Thursday. The plea to declare Nirav Modi a fugitive economic offender was filed by the Enforcement Directorate. He is the second businessman after Vijay Mallya to be declared a fugitive economic …

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, 4 months 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 …

PNB bank fraud: CBI set to file fresh charges in $2 billion scam, says report
5 years, 4 months ago

PNB bank fraud: CBI set to file fresh charges in $2 billion scam, says report

Live Mint  

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 CBI's initial charges, billionaire jeweller Nirav Modi, 21 other people, including PNB officials, and three Modi companies were accused of …

Nirav Modi threatens to 'kill himself' if extradited to India
5 years, 4 months ago

Nirav Modi threatens to 'kill himself' if extradited to India

Op India  

As his bail application was rejected by the UK court for the fifth time, the fugitive businessman Nirav Modi threatened a UK court on Wednesday claiming that he would kill himself if his extradition to India is ordered. Read: In his desperation, fugitive Nirav Modi uses his pet dog to seek bail but fails the second attempt Nirav Modi’s lawyer …

Mehul Choksi Cheated Punjab & Sind Bank of Rs 44 Crores: Report
5 years, 5 months ago

Mehul Choksi Cheated Punjab & Sind Bank of Rs 44 Crores: Report

The Quint  

After being declared a "willful defaulter," Choksi has joined the bank's band of 27 other defaulters from different fields, mainly based in New Delhi, Punjab, Chandigarh, Lucknow, etc. Maharashtra Convenor Vishwas Utagi, former and Trade Unions Joint Action Committee told IANS, "Besides PSB, which has been a perpetually loss-making entity, several other banks have exposure to Choksi-Modi and their group …

PNB Scam: Interpol issues global arrest warrant against Nirav Modi's brother Nehal Modi
5 years, 6 months ago

PNB Scam: Interpol issues global arrest warrant against Nirav Modi's brother Nehal Modi

India TV News  

The Interpol has issued a Red Corner Notice against Nehal Modi, a step brother of Nirav Modi, the prime accused in the USD 2 billion PNB scam case, officials said on Friday. The ED said Nehal Modi was the "protector and investment advisor" for the 48-year-old Nirav Modi as well as Mehul Choksi, another prime accused in the case. "After …

PNB scam: CBI seeks proclaimed offender tag for fugitive Nirav Modi, his brother
5 years, 6 months ago

PNB scam: CBI seeks proclaimed offender tag for fugitive Nirav Modi, his brother

India Today  

The Central Bureau of Investigation has moved an application in the special CBI court asking that PNB scam accused diamantaire Nirav Modi, his brother Neeshal Modi and an associate Subhash Parab, be declared as proclaimed offenders. The application The investigating agency had shown the three accused as 'wanted', when the chargesheet in the multi-million-dollar PNB scam was filed. While Nirav …

DRT directs Nirav Modi, aides to pay over Rs 7,200 cr to PNB and others, recovery officials to initiate further action
5 years, 8 months ago

DRT directs Nirav Modi, aides to pay over Rs 7,200 cr to PNB and others, recovery officials to initiate further action

Firstpost  

In another order in the suit filed by the consortium of banks, the presiding officer directed Modi and others to pay Rs 232 crore to the applicant banks with the 16.20 percent interest from 27 July, 2018. Pune: In fresh trouble for Nirav Modi, who is currently lodged in a London prison, the Pune bench of the Debt Recovery Tribunal …

PNB fraud: Singapore HC orders freezing bank account of Nirav Modi's family
5 years, 8 months ago

PNB fraud: Singapore HC orders freezing bank account of Nirav Modi's family

India TV News  

PNB fraud: Singapore HC orders freezing bank account of Nirav Modi's family The agency said the bank account is in the name of Pavillion Point Corporation based in the British Virgin Islands, a company that is "beneficially owned" by Purvi Modi and Maiank Mehta. The Singapore High Court has ordered the freezing of bank deposits worth Rs 44.41 crore, kept …

PNB fraud case: Nirav Modi suffers huge blow as Singapore HC freezes kin's bank deposits of Rs 44.41 cr
5 years, 8 months ago

PNB fraud case: Nirav Modi suffers huge blow as Singapore HC freezes kin's bank deposits of Rs 44.41 cr

Firstpost  

The two are the sister and brother-in-law of Modi, who is currently under arrest in this alleged bank fraud case in London. The Singapore High Court has ordered freezing of bank deposits worth Rs 44.41 crore kept in that country by Punjab National Bank fraud-accused Nirav Modi’s two relatives as part of a money laundering probe in India, the Enforcement …

PNB fraud case: Swiss authorities freeze 4 bank accounts of Nirav Modi, sister Purvi on ED request
5 years, 9 months ago

PNB fraud case: Swiss authorities freeze 4 bank accounts of Nirav Modi, sister Purvi on ED request

Firstpost  

Official sources said while the accounts of Modi, the diamantaire under arrest in this case in London, have deposits of $3,74,11,596 while the accounts in the name of his sister Purvi Modi has deposits of GBP 27,38,136. New Delhi: Four Swiss bank accounts of beleaguered diamantaire Nirav Modi, the main accused in the $2-billion PNB fraud case, and his sister …

PNB fraud case: Fugitive diamantaire Nirav Modi to appear via videolink from UK prison for remand hearing today
5 years, 9 months ago

PNB fraud case: Fugitive diamantaire Nirav Modi to appear via videolink from UK prison for remand hearing today

Firstpost  

Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19 and has been in prison since. London: Fugitive diamantaire Nirav Modi is set to appear via videolink from prison for a routine remand hearing before Westminster Magistrates’ Court in London on Thursday. The 48-year-old, who has been lodged at Wandsworth prison in south-west London since …

Switzerland Freezes Four Bank Accounts Of Fugitive Diamantaire Nirav Modi, Sister Purvi Modi
5 years, 9 months ago

Switzerland Freezes Four Bank Accounts Of Fugitive Diamantaire Nirav Modi, Sister Purvi Modi

ABP News  

#NiravModi’s 4 bank Swiss accounts have been frozen by #Switzerland authorities on request of #India's Enforcement Directorate. Bank accounts containing 6 million dollars belong to Nirav and his sister Purvi Modi. — ABP News June 27, 2019 Switzerland government on Thursday seized Nirav Modi’s four bank accounts worth 6 million dollars. It is reported that India's Enforcement Directorate had earlier …

PNB fraud case: Fugitive diamantaire Nirav Modi denied bail for third time by UK court
5 years, 10 months ago

PNB fraud case: Fugitive diamantaire Nirav Modi denied bail for third time by UK court

Firstpost  

London: A UK court Wednesday denied bail to Nirav Modi for the third time, saying the fugitive diamond merchant who is the main accused in the Punjab National Bank fraud and money laundering case amounting to up to $2 billion would fail to surrender. Nirav’s defence team, led by barrister Motgomery — who was also the barrister for former Kingfisher …

PNB fraud: Fugitive Nirav Modi denied bail for the third time by UK court
5 years, 10 months ago

PNB fraud: Fugitive Nirav Modi denied bail for the third time by UK court

India TV News  

PNB fraud: Fugitive Nirav Modi denied bail for the third time by UK court A UK court Wednesday denied bail to Nirav Modi for the third time, saying the fugitive diamond merchant who is the main accused in the Punjab National Bank fraud and money laundering case amounting to up to USD 2 billion would fail to surrender. A UK …

PNB scam accused Nirav Modi's bail rejected for third time
5 years, 10 months ago

PNB scam accused Nirav Modi's bail rejected for third time

India Today  

The bail plea of fugitive diamond merchant Nirav Modi was rejected for third time on Wednesday by a United Kingdom court, where he is undergoing extradition proceedings to India in the Punjab National Bank fraud and money laundering charges amounting to up to $ 2 billion. The 48-year-old, who has been behind bars at Wandsworth prison in south-west London since …

Nirav Modi denied bail again over PNB fraud case
5 years, 11 months ago

Nirav Modi denied bail again over PNB fraud case

Live Mint  

The 48-year-old diamond magnate, who denies the charges, faces the possibility of extradition to India where Prime Minister Narendra Modi is under pressure to take a firm stance on the case ahead of national elections in April-May. A witness has alleged that Nirav Modi threatened to kill him and also offered around ₹20 lakh as a bribe not to testify, …

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