PNB Fraud

The Mumbai special court directed that proceeds from the auction, estimated at around ₹46 crore, be placed in a fixed deposit under the court's name until trial concludes

UK court has accepted Nirav Modi's plea to reopen his extradition case, citing risk of interrogation; Indian agencies are preparing a detailed response to contest the claims

Fugitive diamond trader Mehul Choksi, the prime accused in the PNB loan fraud case, is currently in Belgium for medical treatment of suspected cancer, a special court here was told on Tuesday. Advocate Vijay Agarwal, who appeared on behalf of Choksi, told the court that he wants to file an application to bring on record certain health issues of Choksi "who is at present in Belgium for medical treatment". Agarwal informed the court that Choksi is suspected to be suffering from cancer. A special PMLA court in Mumbai is hearing the Enforcement Directorate's plea to declare Choksi a fugitive economic offender (FEO). The FEO declaration allows the government to initiate action to confiscate the offender's properties. Choksi, his nephew and fugitive diamond trader Nirav Modi and their family members, employees, bank officials and others were booked by the Enforcement Directorate and the Central Bureau of Investigation (CBI) in 2018 for allegedly perpetrating the alleged loan fraud at th

The CBI conducted searches in three cities after registering an FIR against IL&FS Energy Development Company Limited in connection with an alleged fraud of Rs 100.30 crore in Punjab National Bank, officials said on Friday. The Central Bureau of Investigation (CBI) has booked the company and its directors for alleged criminal conspiracy, cheating and under provisions of the Prevention of Corruption Act for diversion of funds and other irregularities in the utilisation of loans availed from the bank. "The CBI has conducted searches at office and residential premises of accused including the private company at New Delhi, Dehradun (Uttarakhand) and Mumbai (Maharashtra), etc. which led to recovery of incriminating documents/articles etc.," a CBI spokesperson said. It was alleged that the accused entered into a conspiracy to cheat Punjab National Bank (erstwhile e-United Bank of India), he said. "In pursuance of the said conspiracy, the accused misappropriated the sanctioned credit ...

ED said that Priti was hand-in-glove with husband Mehul Choksi in getting companies incorporated for him for laundering and siphoning of proceeds of crime and utilising and projecting them untainted

Parab was deported to India from Cairo in Egypt earlier in the day, as per the Central Bureau of Investigation (CBI) officials

Inconsistencies between the Companies Act and the Issue of Capital Regulations to be debated before SAT

Dominican govt said to reject the habeas corpus petition filed on behalf of businessman Mehul Choksi who had claimed that he was abducted and forcefully brought to the Caribbean island nation

Choksi, 62, and his nephew Nirav Modi are accused of siphoning off Rs 13,500 crore from state-run Punjab National Bank using fraudulent letters of undertaking

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.

Banks, NBFCs are estimated to have given Rs 3,587 crore to company accused of criminal conspiracy, cheating

Fugitive diamond trader Nirav Modi's sister and her husband on Thursday approached a court here seeking cancellation of non-bailable warrant against them in the Punjab National Bank (PNB) fraud case.

District Judge directed Nirav Modi's appearance from a room in Wandsworth Prison in south-west London with social distancing norms

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The judge allowed the additional evidence to be introduced but agreed that Modi's defence team would require enough time to "digest" them

Two additional charges of "causing the disappearance of evidence" and intimidating witnesses or criminal intimidation to cause death were added on by the CBI and certified earlier this year

Enforcement Directorate had earlier moved an application before a special PMLA court here to declare Choksi a fugitive economic offender

Bankers feel inhibited talking about frauds for fear of loss of reputation. Large frauds usually come to light after 54 months

Modi has been behind bars at Wandsworth prison since his arrest on March 19 on an extradition warrant executed by Scotland Yard on charges brought by the Indian government.

Choksi has secured a passport from Antigua and Barbuda