Page 829 - Finance News

I-T dept attaches 7 properties of Mehul Choksi, Gitanjali group in Mumbai

I-T sources said while four of these attached assets were in the name of Gitanjali Gems Limited, two were in the name of Mehul Chinubhai Choksi and one in the name of Gili India Limited

Nirav Modi diverted Rs 12.16-bn SEZ diamonds to domestic market: I-T Dept

Instead, low-quality diamonds were exported to associate units abroad to keep up the appearances

PNB closed all options to recover dues by going public: Nirav Modi

In a letter Modi wrote on Feb 15/16 to the PNB management, he pegged the amount his companies owes to the bank under Rs 50 bn

Regulatory lessons: India should reduce dependence on the banking system

The central error here is that the SWIFT inter-bank communication system is not monitored as carefully as it should be by some Indian banks

Assets worth Rs 57.16 bn, 1st LoU issued in Mar 2011 seized: ED on PNB scam

The ED is also moving to attach at least two dozen immovable properties of Modi, Choksi and their concerns under the Prevention of Money Laundering Act

'Explain how scam took place': CVC seeks report from PNB, FinMin in 10 days

The law enforcement agency has asked for names of officials who were involved in the scam and sought identification of officials who could have taken action and prevented it

PNB fraud case: Congress says it will oppose PSBs privatisation

Party releases documents that show Choksi was declared absconder in August 2017

PNB fraud: Govt thinks RBI may be unable to ensure effective supervision?

PNB shares slid for a fourth straight day on Monday, closing 7.2% lower

7 public sector bank stocks hit 52-week lows on Rs 114-bn PNB fraud case

UCO Bank slipped 4.58%, Dena Bank - 4.43% and Oriental Bank of Commerce - 1.71%

PNB will have to own responsibility of bona fide transactions, says FinMin

Financial services secretary, said the bank "will have to own responsibility of bonafide transactions."

PNB tanks 7% on Monday; m-cap plunges Rs 109.75 bn in four sessions

In four trading sessions, the stock has fallen 28 per cent

Nirav Modi PNB fraud: CBI seals bank's Brady House Branch in Mumbai

The multi-pronged action by the CBI, ED, and others comes five days after PNB admitted to unearthing a fraud of Rs 115.15 billion involving Modi's companies

Nirav Modi PNB fraud: PM Modi's silence speaks of his loyalties, says Rahul

Gandhi's statements come in the wake of Punjab National Bank fraud case, involving businessmen Nirav Deepak Modi and Mehul Chinubhai Choksi

Before PNB fraud: Nirav Modi, Choksi left 18 businessmen, 24 firms bankrupt

Eighteen businessmen and 24 firms who had taken the franchise of Modi and Choksi's jewellery brand ended up filing criminal complaints of financial bankruptcy

Nirav Modi PNB fraud: Vijay Aggarwal to be absconding diamantaire's lawyer

Nirav Modi acquired fraudulent letters of undertaking from one of PNB's branches for overseas credit from other Indian lenders

Once the pride of Punjab, PNB is now a theme for WhatsApp memes in India

The nationalisation of banks by Mrs Indira Gandhi on the midnight of 19th July 1969 changed the way banking was done in India

Eyes wide shut: The $1.8 billion PNB fraud that went completely unnoticed

The accounts given by executives suggest an answer as simple as it is alarming: no one was paying attention

Bank Union wants CBI probe into PNB fraud, alleges RBI failed as regulator

The Union also alleged that the RBI has failed to fulfill its role as a regulator of the banking sector

CBI questions Nirav Modi's CFO Vipul Ambani; searches PNB Mumbai branch

CBI questions Nirav Modi's CFO Vipul Ambani; searches PNB's Brady House branch

PNB fraud: Who's liable and why multiple audits failed to raise an alarm?

While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm