Punjab National Bank | The Asian Age

Thursday, Apr 25, 2024 | Last Update : 06:55 PM IST

Punjab National Bank Page-7

Antique jewellery worth Rs 15 crore, costly watches valued at Rs 1.4 crore and paintings of acclaimed artists like Amrita Sher-Gil, MF Hussain and KK Hebbar valued at Rs 10 crore have been seized over the last three days under the PMLA. (Photo: Facebook)

PNB fraud: ED seizes jewellery, watches, paintings of Nirav Modi

ED along with the CBI launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai.

24 Mar 2018 2:38 PM

Fraudulent LoUs of the state-owned PNB were used by diamantaire Nirav Modi and his associates to defraud the bank of about Rs 13,000 crore. (Photo: PTI)

PNB issued over 41,000 LoUs since 2011: Finance Ministry

Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance.

23 Mar 2018 10:49 AM

Court reserves order on Rajesh Jindal’s bail plea

Advocate A. Limosin opposed the bail application filed by Jindal.

21 Mar 2018 7:06 AM

The extent of the unravelling fraud at India's state-run Punjab National Bank could rise beyond the nearly $2 billion mark so far outlined by the lender, according to a source involved in the probe and court documents reviewed by Reuters.

PNB scam: Judicial custody of six extended

Ambani was president, finance, at the Modi-controlled Firestar Group of Companies.

20 Mar 2018 5:16 AM

Punjab National Bank (PNB) has detected another small fraud at a Mumbai branch which is at the centre of Rs 12,600 crore fraud. (Photo: PTI)

PNB detects another fraud of Rs 9 Cr at branch involved in Nirav case

The new alleged fraud of around Rs 9.1 crore involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd.

15 Mar 2018 11:02 AM

The unravelling PNB fraud, the biggest in Indian banking history, has stunned the financial sector and pushed the RBI and government to crack down on bank systems and lending practices. (Photo: File)

PNB fraud: RBI guv Urjit Patel calls for more powers over state-run banks

Patel said there were numerous limitations in the RBI’s powers over state-run lenders.

15 Mar 2018 8:54 AM

The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas. (Photo: File)

PNB scam 'one-off incident': SBI chief rejects privatisation call

Earlier in February, Finance Minister Arun Jaitley had ruled out privatisation of banks.

14 Mar 2018 1:38 PM

Punjab National Bank fraud case: Criminal breach of trust as well

The CBI alleged that Shetty did not made entries in the bank system due to which these transactions could not be detected.

14 Mar 2018 3:24 AM

The CBI had registered six separate cases against each of the firms after receiving complaints from the banks. (Photo: File)

CBI arrests Ex-director in diamond cheating case

The banks, which were targeted, include Punjab National Bank, Vijaya Bank and the Central Bank of India.

13 Mar 2018 2:46 AM

The proposed law will apply to defaulters who have an outstanding of Rs 100 crore or more and have escaped from the country. (Photo: PTI)

Amid din in Lok Sabha, economic offenders bill introduced

The bill was introduced in the Lower House by minister of state for finance Shiv Pratap Shukla.

13 Mar 2018 2:20 AM

Sources said there are allegations that PNB had been cheated of a further $49.4 million (close to Rs 322 crore).

PNB officials face lie-detection

The bank alleged in its complaint that its Brady Road branch in Mumbai had extended credit facilities to Firestar group between 2013 and 2017.

11 Mar 2018 12:43 AM

"I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same," Choksi said. (Photo: File)

Persistent health problem, can't return to India: Choksi to CBI

As his passport has been suspended by the Government, he also demanded to know the reason behind the action.

08 Mar 2018 3:39 PM

Gitanjali top honcho Vipul Chitalia held in PNB scam

Officials said Chitalia was at the helm of the affairs when Choksi’s ventures indulged in ‘illegalities’.

07 Mar 2018 3:02 AM

My arrest is illegal: Employee of Nirav Modi

Claims arrest was unlawful as a woman cannot be arrested after sunset.

06 Mar 2018 2:56 AM

In our view, the “missing R” is reform. We believe the PNB fraud case will hasten the impetus for improving banks' governance, risk-management practices, and internal controls: S&P.

S&P: PSBs need urgent reforms

S&P Global Ratings said it expects the 4Rs and other initiatives to strengthen the India banking system in the medium to long run.

06 Mar 2018 1:29 AM

Nirav Modi and Mehul Choksi (Photo: PTI)

CBI quizzes top PNB official in Nirav Modi case

There are allegations that Choksi and Modi got letters of undertakings and foreign letters of credit of Rs 12,636 crore on fraudulent claims.

06 Mar 2018 12:30 AM

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

PNB fraud case: Non-bailable warrants issued against Nirav Modi, Choksi

Meanwhile, the Government has revoked the passports of Nirav Modi and Mehul Choksi.

03 Mar 2018 3:37 PM

Another ex-PNB official arrested

The agency arrested the retired second senior-level internal auditor of the bank for allegedly overlooking the irregularities during the audit.

03 Mar 2018 1:38 AM

Officials said 13 more people were questioned on Thursday in addition to the questioning of those who are in CBI custody. (Photo: PTI/File)

CBI arrests another PNB official, 'seizes' docs from Mumbai 'chawl'

Internal Chief Auditor (Retd) Bishnubrata Mishra was responsible for auditing the procedures and practices followed in the PNB branch.

02 Mar 2018 8:48 AM

Modi, Mehul Choksi and others are being investigated by multiple probe agencies following a complaint by the PNB that they allegedly cheated the bank to the tune of over Rs 12,000 crore. (Photo: File)

Can't confirm Nirav Modi is staying here: US as India seeks his whereabouts

The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have registered two FIRs each in this case.

02 Mar 2018 8:05 AM

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Dilip Cherian