Page 9 - Nirav Modi Scam At Pnb

PNB scam: ED refuses to share details of Nirav and Mehul's seized assets

The immunity given to the Enforcement Directorate under Section 24 of the RTI Act does not cover information pertaining to alleged corruption

PNB scam: ED refuses to share details of Nirav Modi, Mehul's seized assets

The immunity given to the Enforcement Directorate under Section 24 of the RTI Act does not cover information pertaining to alleged corruption

PNB's bad-loan woes mount to over Rs 151 bn on back of Nirav Modi fraud

The public sector lender has been putting out the names of wilful defaulters and firms since June 2017. Within ten months, these defaults have grown by 28%, from Rs 118.79 bn

The fear factor: An overzealous CBI could cramp decision-making in banks

Such over-vigilance is likely to have a debilitating impact on the decision-making process in Indian banks, especially in the state-owned ones

Credit underwriting norms tightened to curb frauds, says PNB

The second largest public sector lender had reported an alleged fraud of over Rs 130 billion by diamantaire Nirav Modi in February-March this year

Bank will bounce back from fraud hit in 6 months, says PNB Chief

In February, PNB reported the Rs 130 billion fraud committed by the accused diamantaire Nirav Modi and his uncle Mehul Choksi -- both of whom are on the run

Fraud-hit PNB to hire detective agencies to locate untraceable borrowers

The Delhi-headquartered bank has been at the receiving end of the over Rs 130 billion fraud involving diamond merchants Nirav Modi and Mehul Choksi

PNB scam: Govt intervenes in Nirav Modi firms' bankruptcy proceedings in US

Nirav Modi-owned Firestar Diamond Inc filed for bankruptcy in the US on February 27

114-bn PNB scam: Bank approaches Hong Kong HC against Nirav Modi

Hong Kong authorities have been approached and recovery writ has been filed against companies of Nirav Modi, the official said

Rs 139-billion loan scam: PNB moves Hong Kong HC against Nirav Modi

Hong Kong authorities are obliged to surrender a fugitive wanted by India

MCA zeroes in on 225,000 more suspected shell companies

P P Chaudhary said the ministry had received a report from the Institute of Chartered Accountants of India (ICAI) on systemic issues that led to the PNB fraud

Govt approaches NCLAT to attach properties of people involved in PNB scam

It also allows tribunal power to appoint subsequent to an order removing the existing managing director or manager

Gitanjali Gems: ICICI Bank places application in NCLT

ICICI Bank approached the Bench and informed them of the lender's wish to see that their security interests are protected whenever the Bench pronounces an order in the matter

PNB scam: ICAI sends notices to statutory auditors of Brady House branch

This is a primary investigation and the board wants to ascertain whether the auditors were at fault

Banks' NPAs to rise by Rs 80 bn in Q4 on account of Gitanjali Gems

Till December 2017, the loans to Gitanjali Gems were standard and regular debt servicing was being done

ED finds 47 entities related to Nirav Modi doing Rs 60-bn 'round-tripping'

Out of these 47 entities, 10 are registered in Belgium, three in US, 13 in UAE, eight in Netherlands and rest in India

PNB scam a failure of process, not of our banking software: Infosys

The version of Finacle used by the bank did not have an automatic integration system that requires the bank to do things manually

Now PNB tightens norms to separate loan appraisal and monitoring teams

Recently, the bank has faced a multi-billion fraud related to the Nirav Modi and Gitanjali Diamonds group

India's request to arrest Nirav Modi awaiting response from Hong Kong: MEA

MEA said the Department of Justice in Hong Kong is examining India's request for provisional order for Modi's arrest

PNB scam: CBI questions 2 DGM-level officers of SBI's foreign branches

The $2 billion scam became public in January after the CBI registered an FIR in the matter, but by that time both the high-profile jewellers had left India with family