Pnb Fraud | The Asian Age

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Nirav Modi, who runs eponymously branded high-end jewellery stores that stretch from New York to Hong Kong, and Choksi, who heads Gitanjali Gems and operates stores under banners including Gili, Nakshatra and Asmi, both belong to the Jain community from the western state of Gujarat. (Representational Image)

Diamond traders stopped deals with Nirav Modi for slow due payments

Traders said Nirav Modi, Mehul Choksi had acquired reputation for not following industry's unwritten code of business ethics.

02 Mar 2018 8:07 PM

Nirav Modi-owned Firestar Diamond Inc has filed for bankruptcy early this week. (Photo: File)

US court stops creditors from debt collection from Nirav Modi in interim order

Nirav Modi has a majority stake in Firestar Diamond and its other sister companies through his other companies.

02 Mar 2018 7:41 PM

The residents of BDD Chawl in Mumbai's Worli area have created a 58-feet high effigy of Nirav Modi, symbolising the evil character of Holika, to burn it as a part of the festival's tradition. (Photo: ANI | Twitter)

Mumbaikars to burn 58-feet tall effigy of Nirav Modi on Holi to express anger

Residents of BDD Chawl said the effigy was not created by any ace artist, but was made by the residents themselves.

01 Mar 2018 12:39 PM

CBI directed billionaire jeweller Nirav Modi to mandatorily join the investigation from next week. (Photo: PTI)

Nirav Modi not joining CBI probe, says 'have businesses abroad'

CBI asked to Nirav Modi to contact the High Commission of the concerned country and said it will arrange for his travel.

28 Feb 2018 5:58 PM

PNB said it has not received any instruction from the government to compensate other lenders for losses arising out of the fraud.

PNB fraud put at close to USD 2 billion

Bank had earlier put the defrauded amount at Rs 11,394.02 crore (USD 1.77 billion).

27 Feb 2018 1:43 PM

BJP president Amit Shah also hit out at the Sidaramaiah government, accusing it of following 'three Ds -- Dhokha (cheating), Dadagiri (goondaism) and dynastic politics'. (Photo: ANI | Twitter)

None but Modi govt took stringent action against PNB fraud: Amit Shah to Rahul

BJP president's reply came when he was asked about Rahul Gandhi's remarks against PM Narendra Modi in the multi-crore PNB fraud case.

26 Feb 2018 8:21 PM

Nirav Modi and Mehul Choksi, key accused in Rs. 11, 400 crore Punjab National Bank scam. (Photo: PTI)

PNB fraud case: Govt revokes passports of Nirav Modi, Mehul Choksi

The MEA sent an email informing Nirav that his passport stands revoked under section 10 (3) (C) of the Passport Act.

24 Feb 2018 5:14 PM

Jaitley slams regulators' failure to detect PNB fraud

Arun Jaitley slammed regulators for failing to detect the Rs 11,400-crore fraud at Punjab National Bank.

24 Feb 2018 1:06 PM

The four lenders - SBI, Axis Bank, Allahabad Bank and Bank of India - were issued Letters of Undertaking (LoUs) by PNB's Mumbai branch. (Photo: File)

PNB fraud: FinMin sets up new regulatory measures for big loans

FinMin has written to Hong Kong branches of 4 Indian banks asking them to reconcile accounts and check for irregularities.

23 Feb 2018 2:00 PM

Only on Thursday, the agency seized deposits, shares and luxury cars worth over Rs 100 crore of the businesssman and his group. (Photo: File)

PNB fraud: ED freezes Nirav Modi group’s deposits, shares worth Rs 44 cr

ED also seizes a huge collection of imported watches from locations linked to the billionaire diamantaire.

23 Feb 2018 1:10 PM

ED seized nine high-end luxury cars of Nirav Modi as part of its investigation against him under the criminal provisions of the Prevention of Money Laundering Act (PMLA). (Photo: ANI | Twitter)

PNB scam: From Rolls Royce to Mercedes, ED seizes Nirav Modi's 9 luxury cars

ED on Thursday said it has frozen mutual funds and shares worth Rs 94.52 crore of the Nirav Modi and Mehul Choksi groups.

22 Feb 2018 7:00 PM

Scam-hit PNB asks Nirav Modi to come up with ‘concrete’ plan to pay dues

PNB said this in its response to a mail written by Nirav Modi, who allegedly cheated the bank of Rs 11,400 crore.

22 Feb 2018 5:13 PM

FIR with CBI were filed in the evening of February 13, 2018, and BSE and NSE were informed on February 14 around 9 am.

Enough assets to meet any liability, says scam-hit PNB

The bank had disclosed about the scam on February 14 through a regulatory filing.

22 Feb 2018 5:03 PM

Sujata Patil, wife of Arjun Patil asked the probe agency to catch the big fish and said, 'He did what he was told and has not done anything illegal.' (Photo: ANI)

Will thrash Nirav Modi with 'chappal', says wife of official held in PNB scam

As per the woman her husband, Arjun Patil earned a mere Rs 30,000 and had not taken a 'single extra rupee'.

22 Feb 2018 4:24 PM

PNB has also created a unit called ‘Treasury Division Mumbai’ for re-authorisation of most messages sent over SWIFT by branches.

PNB adopts strict SWIFT controls after mega fraud case

The new measures mean only PNB officers will be able to initiate messages on SWIFT.

22 Feb 2018 10:23 AM

Special CBI court remanded all the six arrested, including Vipul Ambani, President (Finance) of Nirav Modi’s Firestar Group of Companies, to CBI custody till March 5. (Photo: Rajesh Jadhav)

PNB fraud case: Nirav Modi's aide Vipul Ambani knew about fake LoUs, says CBI

CBI said applications for such letters were made from Vipul Ambani’s South-Central Mumbai office.

22 Feb 2018 9:14 AM

Addressing a public rally in Shillong, Congress president Rahul Gandhi said, 'Just because the BJP can buy a few MLAs, including Congress MLA, you cannot buy the church. You cannot take away our music just because you like Mohan Bhagwat or Modi's songs.' (Photo: ANI | Twitter)

Modi not against corruption, he is an instrument of corruption: Rahul

Congress chief Rahul Gandhi, who is on a two-day campaign trail in the north-eastern state, called for a 'BJP-mukt' Meghalaya.

21 Feb 2018 6:07 PM

Congress president Rahul Gandhi attacked Prime Minister Narendra Modi over his silence on the PNB fraud and the Rafale deal. (Photo: AP/File)

PNB scam, Rafale deal: Rahul suggests topics to Modi for ‘Mann ki Baat’

Rahul Gandhi the PM's radio programme a monologue and said the country wants to hear him speak on Nirav Modi and Rafale 'scam'.

21 Feb 2018 5:56 PM

The stock tumbled 9.85 per cent to Rs 27.45 -- its lower circuit -- on BSE today.

Gitanjali Gems hits lower circuit; tanks over 56 pc in 6 days

On NSE, shares of the company declined 9.86 per cent to Rs 27.40, its lower price band.

21 Feb 2018 1:33 PM

PNB fraud: Nirav firm’s CFO, 4 others arrested

CBI questions 10 other officials of PSU bank.

21 Feb 2018 2:59 AM

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Farrukh Dhondy