PNB Scam Fallout

The development comes after the Court of Appeals in Antwerp, on October 17, rejected Choksi's argument that he may not receive a fair trial if extradited to India

The ₹13,850 crore PNB fraud was carried out between 2014 and 2017, involving fake LoU to secure overseas credit for firms linked to Mehul Choksi and Nirav Modi. Here's what you need to know

The Bench of Judges B S V Prakash Kumar and Duraiswamy has vacated the restraint order of February 23

Given the reluctance to part with data and tendency to minimise the risks, those in the segment say banks need to seriously relook at whether they're covered for a PNB-type case

"The group has a clean credit history and at no instance has any of its entity defaulted on any bank credit availed by it," Russell Mehta said in a statement

The trade credit instrument banned by RBI is used heavily by exporters who import goods which go into the making of export products