PNB Scam: Noose tightens around Nirav Modi, Mehul Choksi as ED attaches Rs 218 cr assets
6 years, 2 months ago

PNB Scam: Noose tightens around Nirav Modi, Mehul Choksi as ED attaches Rs 218 cr assets

India TV News  

Tightening the noose around absconding diamond merchants Nirav Modi and his relative Mehul Choksi in the multi-crore Punjab National Bank scam, the Enforcement Directorate on Wednesday attached property worth Rs 218 crore. The beneficiaries of these assets put under attachment, they said, are absconding diamond jeweller Mehul Choksi, Mihir Bhansali, a close aide and US-based executive of main accused in the case Nirav Modi, and a company named A P Gems and Jewellery Park. The ED is probing this case along with the CBI where it is alleged that Nirav Modi and Choksi defrauded the Brady House branch of the Punjab National Bank in Mumbai to the tune of about USD 2 billion in alleged connivance with officials. WATCH: More trouble for Nirav Modi, Mehul Choksi in PNB Scam

Modi Pnb Nirav Nirav Modi Choksi Mehul Choksi Pnb Scam Punjab National  noose  mehul  modi  choksi  punjab  national  pnb  rs  nirav  scam  ed  tightens  cr  mumbai

History of this topic

ED restores Rs 22,000 crore of assets from Vijay Mallya, Nirav Modi: Minister
4 weeks ago

ED restores Rs 22,000 crore of assets from Vijay Mallya, Nirav Modi: Minister

India Today  

Union Finance Minister Nirmala Sitharaman on Tuesday revealed that the Enforcement Directorate has successfully restored assets worth Rs 22,280 crore to victims and rightful claimants, asserting the government's relentless commitment to combating economic offenders. The Finance Minister pointed out that among the major cases, the ED has recovered properties valued at Rs 14,131.6 crore belonging to fugitive businessman Vijay Mallya, …

From Vijay Mallya to Nirav Modi — ED restores over ₹22,000 crore worth assets from high-profile cases. Check full list
4 weeks ago

From Vijay Mallya to Nirav Modi — ED restores over ₹22,000 crore worth assets from high-profile cases. Check full list

Live Mint  

From fugitive Vijay Mallya, Nirav Modi to Mehul Choksi — the Enforcement Directorate has restored properties worth ₹22,280 crore — said Finance Minister Nirmala Sitharaman on Tuesday. Recovery from Vijay Mallya Sitharaman said that ₹14,131.6 crore worth properties belonging to fugitive Vijay Mallya have been restored to public sector banks. Here's the full list Nirav Modi: ₹1,052.58 crore has been …

ED returns assets worth Rs 4,025 crore in Bhushan Steel fraud case
1 month ago

ED returns assets worth Rs 4,025 crore in Bhushan Steel fraud case

Deccan Chronicle  

New Delhi: The ED has restituted assets worth Rs 4,025 crore of the erstwhile Bhushan Steel and Power Limited to JSW Steel following approval from the Supreme Court, the federal probe agency said on Saturday.JSW Steel was the successful resolution applicant to the assets of the insolvent company under the Insolvency and Bankruptcy Code of the Corporate Insolvency Resolution Process. …

Mumbai court approves monetisation of ₹2,565.9 crore in properties in Choksi fraud case
1 month ago

Mumbai court approves monetisation of ₹2,565.9 crore in properties in Choksi fraud case

Hindustan Times  

Mumbai: A special court in Mumbai on Tuesday permitted the monetisation of properties worth ₹2,565.9 crore that were attached or seized by the Enforcement Directorate since 2018 as part of its money laundering investigation against fugitive diamantaire Mehul Choksi in the alleged Punjab National Bank fraud. Mehul Choksi The court's decision followed an application from the victim banks, Punjab National …

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case
Trending News
1 month ago

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case

India Today  

The Enforcement Directorate, Mumbai, has successfully handed over properties worth more than Rs 125 crore to the liquidator of Gitanjali Gems Ltd. Following an application supported by the ED, the Special PMLA Court in Mumbai approved the monetisation of properties worth Rs 2,565.90 crore linked to Mehul Choksi. PROPERTIES HANDED OVER As per the court’s order, ED initiated the transfer …

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

Court orders to deposit proceeds of Nirav Modi’s London flat to Centre
9 months, 1 week ago

Court orders to deposit proceeds of Nirav Modi’s London flat to Centre

Hindustan Times  

MUMBAI: A special PMLA court last week declared that the Central Government was entitled to proceeds from the sale of a London property belonging to fugitive diamond trader Nirav Modi and directed that the amount be deposited with the central government. Court orders to deposit proceeds of Nirav Modi’s London flat to Centre Nirav Modi was declared a fugitive economic …

ED attaches DHFL promoters’ assets worth ₹70 cr
1 year, 2 months ago

ED attaches DHFL promoters’ assets worth ₹70 cr

Hindustan Times  

The Enforcement Directorate has provisionally attached assets worth ₹70.39 crore belonging to the former promoters of Dewan Housing Finance Limited, Kapil Wadhawan and Dheeraj Wadhawan. HT Image The attached assets are in the form of paintings and sculpture worth ₹28.58 crore, watches worth ₹5 crore, diamond jewellery worth ₹10.71 crore, 20% stake in a helicopter worth ₹9 crore and two …

ED attaches assets worth over Rs 315 crore in money laundering case against former Maharashtra NCP MP
1 year, 3 months ago

ED attaches assets worth over Rs 315 crore in money laundering case against former Maharashtra NCP MP

India TV News  

The Enforcement Directorate on Sunday said that it has attached land and other items worth over Rs 315 crore as part of an alleged bank fraud in connection with money laundering probe against a former NCP MP from Maharashtra, his family and businesses. Ishwarlal Shankarlal Jain Lalwani, the former Rajya Sabha Member of Parliament from the Nationalist Congress Party, is …

ED seizes Rs 25.8 crore following raids in Maharashtra in money laundering case
1 year, 4 months ago

ED seizes Rs 25.8 crore following raids in Maharashtra in money laundering case

India TV News  

The Enforcement Directorate seized cash and jewellry worth Rs 25.81 crores following raids carried out across 13 locations in Maharashtra in connection to a money laundering case, informed officials on Saturday. During the search operation conducted on Thursday, ED seized a large number of incriminating documents along with 39.33 kg of gold and diamond jewellry worth Rs 24.7 crore and …

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore
1 year, 6 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. …

ED seizes assets worth over Rs 121 crore in Pune bank fraud case
1 year, 7 months ago

ED seizes assets worth over Rs 121 crore in Pune bank fraud case

India Today  

The Enforcement Directorate has provisionally attached 47 immovable properties worth Rs 121.81 crore in Pune and movable assets worth Rs 54.25 lakh of Devi Concrete Products under the provisions of the Prevention of Money Laundering Act, 2002. The ED initiated the PMLA investigation based on a predicate FIR at Pune’s Vimantal Police station against Vinay Aranha of the Rosary Education …

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 …

CBI books directors of Chennai steel firm for cheating bank of ₹25.89 crore
1 year, 11 months ago

CBI books directors of Chennai steel firm for cheating bank of ₹25.89 crore

The Hindu  

The Central Bureau of Investigation has booked the directors of a steel firm on charges of cheating the Indian Overseas Bank and causing a loss to the tune of ₹25.89 crore. The agency’s Economic Offences Branch has registered a case against M/s SAR ISPAT Private Ltd., and its directors Sanjay Kumar Sharma, Sandeep Kothari, Vikranth Sharma and others, for the …

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 …

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

Indian tycoon Nirav Modi loses extradition appeal in UK
2 years, 2 months ago

Indian tycoon Nirav Modi loses extradition appeal in UK

Associated Press  

LONDON — Diamond tycoon Nirav Modi on Wednesday lost an appeal of a British court’s ruling that he should be extradited from the U.K. to India to face allegations he was involved in a $1.8 billion bank fraud. Two High Court judges upheld a lower court’s ruling that the fugitive jeweler has a case to answer before Indian courts and …

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 …

ED to confiscate Nirav Modi's properties worth Rs 500 crores
2 years, 2 months ago

ED to confiscate Nirav Modi's properties worth Rs 500 crores

India Today  

A special court in Mumbai has allowed the Enforcement Directorate to confiscate 39 properties of fugitive diamantaire Nirav Modi. Advocates Hiten Venegaokar and Arvind Aghav appearing for ED, had argued for confiscation of Modi's 48 properties, valued at Rs 929 crores, under the Fugitive Economic Offenders Act. However, PNB which is at the centre of the scam and had faced …

Honour extradition treaty, don't pick holes: UK Court in Nirav Modi case
2 years, 3 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 …

Last leg of Nirav Modi hearing to start today
2 years, 3 months ago

Last leg of Nirav Modi hearing to start today

Hindustan Times  

More than three years after the arrest of fugitive diamond merchant Nirav Modi, in March 2019, the London high court will hear his much-delayed appeal. In February 2021, the Westminster Magistrates’ Court had found no bars to Modi’s extradition to India, but during the appeal application, his legal team managed to convince the high court to accept fresh evidence. “The …

Yes Bank-DHFL Scam: ED Attaches Rs 415-Cr Assets Of 2 Builders in India's Largest Bank Fraud Case
2 years, 5 months ago

Yes Bank-DHFL Scam: ED Attaches Rs 415-Cr Assets Of 2 Builders in India's Largest Bank Fraud Case

News 18  

The Enforcement Directorate said on Wednesday said assets worth Rs 415 crore of arrested Maharashtra builders Avinash Bhosale and Sanjay Chhabria have been attached. The attached assets of Chhabria are in the form of a land parcel located in Santacruz, Mumbai worth Rs 116.5 crore, 25 per cent equity shares of Chhabria’s company held in a land parcel located in …

Yes Bank-DHFL case: ED attaches Rs 415 cr worth assets of builders Avinash Bhosale, Sanjay Chhabria
2 years, 5 months ago

Yes Bank-DHFL case: ED attaches Rs 415 cr worth assets of builders Avinash Bhosale, Sanjay Chhabria

India TV News  

Assets worth Rs 415 crore of arrested Maharashtra builders Avinash Bhosale and Sanjay Chhabria have been attached in the Yes Bank-DHFL bank loan fraud linked money laundering case, the Enforcement Directorate said on Wednesday. The attached assets of Chhabria are in the form of a land parcel located in Santacruz, Mumbai worth Rs 116.5 crore, 25 per cent equity shares …

CBI Files Charge Sheet Against Builder Avinash Bhosale in Yes Bank-DHFL Scam
2 years, 5 months ago

CBI Files Charge Sheet Against Builder Avinash Bhosale in Yes Bank-DHFL Scam

News 18  

The CBI has filed a charge sheet against noted Pune-based builder Avinash Bhosale and his companies in connection with the Yes Bank-DHFL scam, officials said on Monday. The agency has also named Satyan Gopaldas Tandon, Metropolis Hotels LLP, ABIL Infraprojects Pvt Ltd, ABIL Hospitality Pvt Ltd, Arindam Developers, Avinash Bhosale Group and Flora Developments Ltd in connection with the case …

ED attaches gems, bank deposits worth over Rs 253 crore of Nirav Modi group in Hong Kong
2 years, 5 months ago

ED attaches gems, bank deposits worth over Rs 253 crore of Nirav Modi group in Hong Kong

Firstpost  

Nirav Modi, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the USD 2-billion PNB fraud case that is being investigated by the CBI New Delhi: The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of some Hong Kong-based companies of fugitive diamond …

ED Attaches Gems, Bank Deposits Worth Over Rs 253 Crore of Nirav Modi Group
2 years, 5 months ago

ED Attaches Gems, Bank Deposits Worth Over Rs 253 Crore of Nirav Modi Group

The Quint  

The ED said the extradition proceedings are at "final stage in London, UK." It said that with the latest attachment, the total seizure of assets against Nirav Modi stands at Rs 2,650.07 crore. "Also, movable and immovable assets of Nirav Modi and his associates amounting to Rs 1,389 crore have been confiscated under provisions of the Fugitive Economic Offenders Act, …

Gems, jewellery among Nirav Modi's Rs 250 crore assets attached by ED
2 years, 5 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 …

ED attaches Nirav Modi’s movable properties worth ₹253 cr
2 years, 5 months ago

ED attaches Nirav Modi’s movable properties worth ₹253 cr

Live Mint  

The Enforcement Directorate has attached movable properties like gems, jewellery and bank balances amounting to ₹253.62 crore in the case of Nirav Modi group of companies in Hong Kong, the agency said on Friday. If Modi wins this appeal hearing in the High Court, he cannot be extradited unless the Indian government is successful in getting permission to appeal at …

CBI files fresh case against Mehul Choksi for defrauding Canara Bank of Rs 55 crore
2 years, 6 months ago

CBI files fresh case against Mehul Choksi for defrauding Canara Bank of Rs 55 crore

India Today  

The Central Bureau of Investigation has filed a fresh case against diamond trader and fugitive Mehul Choksi for defrauding a Canada Bank-led consortium to the tune of Rs 55 crore, officials said. According to the FIR, Canara Bank and Bank of Maharashtra had sanctioned Rs 30 Crores and Rs 25 crore, respectively, as working capital facility under a consortium arrangement …

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country
2 years, 6 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 …

ED files chargesheet against Mehul Choksi, his wife in PNB scam case
2 years, 7 months ago

ED files chargesheet against Mehul Choksi, his wife in PNB scam case

India Today  

The Enforcement Directorate has filed a chargesheet against fugitive diamentaire Mehul Choksi, his wife Priti and others in connection with the Rs 13,000 crore Punjab National Bank fraud case. In June 2021, India Today ran an exclusive report on how Priti Choksi was also a major beneficiary of the proceeds of crime in the PNB scam. In 2013, Priti, along …

PNB Case: ED Chargesheets Mehul Choksi's Wife, Says Priti Choksi 'Ultimate Beneficiary'
2 years, 7 months ago

PNB Case: ED Chargesheets Mehul Choksi's Wife, Says Priti Choksi 'Ultimate Beneficiary'

News 18  

The Enforcement Directorate has filed its first charge sheet against fugitive diamantaire Mehul Choksi’s wife Priti Choksi over her alleged involvement in the Rs 13,500 crore loan fraud in the Punjab National Bank case, according to reports. According to the agency, Priti Choksi was the “ultimate beneficial owner” of certain offshore companies used for siphoning off funds obtained by the …

Fresh FIR against Mehul Choksi for defrauding IFCI of Rs 22 crore
2 years, 8 months ago

Fresh FIR against Mehul Choksi for defrauding IFCI of Rs 22 crore

India Today  

Central Bureau of Investigation has lodged a fresh FIR against fugitive diamond trader Mehul Choksi and his firm Geetanjali Gems for defrauding the Industrial Finance Corporation of India Ltd of Rs 22 crore between 2014 and 2018. READ | Rs 18,000 cr returned to banks from Vijay Mallya, Nirav Modi, Choksi: Govt tells SC “In pursuance to the aforesaid criminal …

Nirav Modi's close aide brought back to India by CBI in PNB scam case
2 years, 9 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 …

Rs 18,000 cr returned to banks from Vijay Mallya, Nirav Modi, Choksi: Govt tells SC
2 years, 10 months ago

Rs 18,000 cr returned to banks from Vijay Mallya, Nirav Modi, Choksi: Govt tells SC

India Today  

The government has informed the Supreme Court that Rs 18,000 crore have returned to banks from Vijay Mallya, Nirav Modi, and Mehul Choksi. Solicitor General Tushar Mehta told the bench that in money laundering cases relating to Vijay Mallya, Mehul Choksi, and Nirav Modi, the Enforcement Directorate has confiscated around Rs 18,000 crore by the orders of the courts following …

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi
2 years, 10 months ago

Rs 18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi

Op India  

The Central Government has told to the Supreme Court that Rs 18000 crore have been returned to the banks which were stifled by fugitives Vijay Mallya, Nirav Modi, and Mehul Choksi until now. While comparing the numbers with the global data, Tushar Mehta added, “very small number of cases are being taken up for investigation under the PMLA as compared …

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government
2 years, 10 months ago

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government

Hindustan Times  

Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehta told the top court bench, led by Justice AM Khanwilkar, that the value of cases registered under the Prevention of Money Laundering Act against Mallya, Modi, and Choksi is now ₹67,000 crore. Vijay Mallya is …

CBI arrests 11 in Rs 60,000 crore Pearls Ponzi Scheme scam
3 years ago

CBI arrests 11 in Rs 60,000 crore Pearls Ponzi Scheme scam

India TV News  

The Central Bureau of Investigation has arrested 11 more persons, including businessmen and Pearls Group employees in connection with Rs 60,000 crore Pearls Ponzi Scheme case. The agency had earlier registered a preliminary enquiry on the directions of the Supreme Court against Pearls Group, which had allegedly collected around Rs 60,000 crore from around five crore investors all across the …

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM
3 years ago

13k cr recovered from asset sale of Nirav Modi, Vijay Mallya: FM

Op India  

Union Finance Minister Nirmala Sitharaman on Monday informed how banks have collected roughly Rs 13,109 crore from asset sales of defaulters such as fugitive diamantaire Nirav Modi, Mehul Choksi, and erstwhile liquor baron Vijay Mallya. Fugitive businessman and prime accused in the Rs 14,000 crore PNB scam, Nirav Modi is currently lodged in the Wandsworth jail in southwest London and …

CBI unearths Rs 15,000 crore Bike Bot scam, lodges FIR against UP firm, promoter
3 years, 2 months ago

CBI unearths Rs 15,000 crore Bike Bot scam, lodges FIR against UP firm, promoter

India Today  

The Central Bureau of Investigation has registered an FIR to investigate Bike Bot scam to the tune of Rs 15,000 crore, a financial swindle worth more than the Punjab National Bank fraud case involving diamond traders Nirav Modi and Mehul Choksi. In the FIR, it has been alleged that Sanjay Bhati, Chief Managing Director of Uttar Pradesh-based Bike Bot, along …

US court junks Nirav Modi's plea seeking dismissal of fraud allegations against him
3 years, 2 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 …

ED attaches Rs 190-crore Mumbai building in bank fraud case against Bhushan Power
3 years, 3 months ago

ED attaches Rs 190-crore Mumbai building in bank fraud case against Bhushan Power

India Today  

The Enforcement Directorate has attached a residential building in Mumbai’s posh Worli area in connection with a money laundering case lodged against Bhushan Power & Steel Ltd. The building worth over Rs 190 crore, located at Ceejay House in Worli, has been attached under Prevention of Money Laundering Act as part of the ED’s investigation against Sanjay Singal, former chief …

Properties Worth Rs 500 Crore of Nirav Modi Firms Restored to Punjab National Bank
3 years, 4 months ago

Properties Worth Rs 500 Crore of Nirav Modi Firms Restored to Punjab National Bank

News 18  

A special court here on Friday allowed 'restoration' of properties worth Rs 500 crore of fugitive jeweler Nirav Modi 's firms to Punjab National Bank. This is the third such order in a span of about two weeks, with the total value of properties owned by Nirav Modi’s companies being restored in this manner now standing at approximately Rs 1,000 …

Properties worth Rs 500 crore of Nirav Modi firms restored to PNB
3 years, 4 months ago

Properties worth Rs 500 crore of Nirav Modi firms restored to PNB

India TV News  

A special court in Mumbai on Friday allowed 'restoration' of properties worth Rs 500 crore of fugitive jeweler Nirav Modi's firms to Punjab National Bank. This is the third such order in a span of about two weeks, with the total value of properties owned by Nirav Modi's companies being restored in this manner now standing at approximately Rs 1,000 …

PNB moves court seeking restoration of assets of Nirav Modi’s firms confiscated by ED
3 years, 6 months ago

PNB moves court seeking restoration of assets of Nirav Modi’s firms confiscated by ED

Live Mint  

The Punjab National Bank on Wednesday moved multiple applications before a special PMLA court here, seeking restoration of the assets of two firms owned by fugitive diamond merchant Nirav Modi, who is accused of duping the bank. The Enforcement Directorate had earlier confiscated assets worth over ₹329.66 crore of Nirav Modi under the fugitive economic offenders law. The confisticated property …

Explained | Will the money recovered from Vijay Mallya, Nirav Modi and Mehul Choksi help banks?
3 years, 6 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 given ₹9k-cr of seized assets, says ED
3 years, 6 months ago

Banks given ₹9k-cr of seized assets, says ED

Hindustan Times  

The Enforcement Directorate has handed over ₹9,041.5 crore worth of assets, mostly in shares, to Indian banks that lost over ₹22,585.83 crore to bank fraud by three fugitive businessmen, Vijay Mallya, Nirav Modi and Mehul Choksi, the agency said in a statement on Wednesday, underlining that this implied the public sector banks have already recouped 40% of their losses in …

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