Page 18 - Nirav Modi Scam At Pnb

PNB is not shown as creditor in US bankruptcy filing by Nirav Modi's firms

The only banks mentioned as creditors are HSBC and Israel Discount Bank (IDB), which have outstanding loans totaling $20 million to two of the companies.

Nirav Modi case: CBI recovers LoU documents, arrests another PNB executive

Mishra was responsible for auditing the procedures and practices followed in the PNB branch and report them

PNB Scam: Cannot confirm if Nirav Modi is in the country, says US

The United States government is aware of media reports that diamond jeweller Nirav Modi is in the country but is unable to confirm them, a State Department official said on Friday

Buyers express strong interest in Nirav Modi's 'bankrupt' Firestar Diamond

The Central Bureau of Investigation has so far arrested at least 13 people - seven from the bank and six more from Modi and Choksi's companies

PNB scam: Govt directs PSBs to consolidate their overseas operations

Foreign branches of Indian banks had advanced money to companies belonging to diamond traders Nirav Modi and Mehul Choksi

SBI freezes three overseas deposit accounts of Nirav Modi group companies

These accounts are not directly related to fraud, however, these could help in investigation so the bank shared the details with the CBI, the ED, the income tax department

PNB fraud: Rs 45 billion in LoU scam diverted to Choksi firms, says CBI

CBI found that funds received through fraudulent LoUs travelled through various banks to reach the beneficiary, reveals source

PNB auditor conspired with Nirav Modi in perpetrating $2-bn fraud: CBI

Mohinder Kumar Sharma was the internal chief auditor at the Brady House branch

PNB fraud: ED seeks permission to search Nirav's house, NBW against Choksi

The CBI had not searched three cupboards in Nirav's house, and the ED may be allowed to conduct a joint inspection of these cupboards with the CBI

Never dealt with Nirav, Choksi, they always paid dues late: Diamond traders

The financial sector was stunned when Punjab National Bank said in mid-February it was the victim of a $1.77 billion fraud

Nirav Modi case: CBI recovers documents related to LoU from Mumbai 'chawl'

It is alleged that LoUs and LCs worth close to $2 billion were issued to the companies of uncle-nephew duo of Choksi and Modi from the Brady Road branch of the bank through SWIFT

PNB denies reports RBI didn't conduct any audit at Brady House branch

Earlier, the fraud amount was said to be Rs 114 billion, but onn Tuesday, the bank had informed the stock exchanges that additional amount of Rs 13 billion had been discovered to be part of the fraud

PNB fraud: ED attaches Rs 12-bn assets of Mehul Choksi; 10 developments

The development comes a day after a Blue Corner notice was issued against the Gitanjali promoter and Nirav Modi

ICAI seeks govt help for access to PNB fraud data

ICAI intends to investigate the chartered accountants of PNB

PNB fraud: Nirav Modi refuses to join CBI probe citing business engagements

Meanwhile, the CBI has arrested PNB's internal chief auditor M K Sharma-- a chief manager-ranked official-- in connection with the case

PNB shares bounce back; gain over 3% at close

The stock had plummeted over 12 per cent in the previous trading session, registering its fourth straight session of fall

PNB fraud: De Beers cuts India allocation for rough diamonds by 10%

The industry is also cutting down on business ahead of the closing of the financial year

CBI arrests PNB Brady House branch's internal auditor in $2-billion fraud

The arrested auditor M K Sharma was "allegedly responsible for auditing the systems and practices" of the bank's Brady House branch in Mumbai

I-T issues lookout notice against Nirav, Choksi to restrict their movement

Meanwhile, Nirav Modi has refused to join Central Bureau of Investigation (CBI) probe in connection with the PNB scam

PNB fraud & more: Nifty PSU Bank sees worst monthly fall in two years

The recent fall has been triggered by the Punjab National Bank fraud, estimated to be worth over Rs 114 billion