Punjab National Bank
-
PNB fraud: 'Passports of Nirav Modi, Mehul Choksi revoked'
India | Feb 24, 2018, 06:36 PM ISTReacting to the development, Nirav Modi's lawyer Vijay Agarwal said that government agencies are acting contrary to each other.
-
Government taking strict action against financial irregularities, says PM Modi
Business | Feb 23, 2018, 10:50 PM ISTWithout naming either the alleged kingpin of the fraud, Nirav Modi, or PNB, PM said the management of financial institutions, auditors and regulators should perform their duty with full dedication.
-
PNB fraud: Didn’t consider bid of PwC for forensic audit, says bank
Business | Feb 23, 2018, 11:01 PM ISTFinding Price Waterhouse guilty in the multi-crore Satyam scam, Securities and Exchange Board of India (Sebi) in January had barred its network entities from issuing audit certificates to any listed company in India for two years.
-
PNB fraud perpetrators will be brought to book: Nitin Gadkari
National | Feb 23, 2018, 06:07 PM ISTNitin Gadkari's assertion comes in the backdrop of speculation that he may be sent back to Maharashtra as Chief Minister, replacing incumbent Devendra Fadnavis.
-
Rs 11,400 crore PNB fraud case: Absconding billionaire Nirav Modi is in Belgium, say sources
India | Feb 22, 2018, 09:53 AM ISTSources also told India TV that Nirav’s maternal uncle and his business partner Mehul Choksi is in Dubai. He is staying in Emirates Hills -- a gated community located in Dubai.
-
PNB fraud: Centre opposes plea in SC for SIT probe
India | Feb 21, 2018, 02:17 PM ISTAttorney General K K Venugopal, appearing for the Centre, said he was opposing the PIL on various grounds, including that an inquiry has started after the FIR was registered.
-
PNB fraud: Issuing of LoUs to Nirav Modi going on since 2008, Gokulnath Shetty tells CBI
Business | Feb 21, 2018, 01:59 PM ISTThe CBI has registered two cases involving Modi and Choksi. These relate to fraudulent issuance of 150 Letters of Undertaking (LoU) (a kind of bank guarantee) worth Rs 6,498 crore and 143 LoUs worth Rs 4,886 crore.
-
PNB scam: CBI arrests Punjab National Bank GM rank officer in connection with Rs 11,400 crore fraud
Business | Feb 21, 2018, 09:33 AM ISTNews agency ANI reported that the official, who has been identified as Rajesh Jindal, was taken into custody by the country’s premier investigating agency last night.
-
PNB fraud: Supreme Court to hear PIL seeking SIT probe today
India | Feb 21, 2018, 08:35 AM ISTThe plea filed in SC has asked for a special investigation team (SIT) to probe PNB fraud involving billionaire jewellers Nirav Modi and Mehul Choksi.
-
PNB fraud fallout: RBI sets up committee to monitor bad loans, rising cases of frauds
Business | Feb 21, 2018, 09:30 AM ISTThe panel will be headed by former RBI board member YH Malegam. Malegam, considered country’s most respected auditor, had earlier led several RBI committees on important reform measures.
-
Auditors failed to stop PNB fraud, will chase down cheaters till end: FM
Business | Feb 21, 2018, 07:09 AM ISTBreaking his silence over the fraud at country’s second-biggest bank, Jaitley on Tuesday said that the state was duty-bound to ensure those cheating the system are brought to justice.
-
Moody's places fraud-hit Punjab National Bank under review for downgrade
Business | Feb 20, 2018, 01:16 PM ISTFollowing the biggest scam in the country's banking sector to the tune of Rs 11,340 crore at state-run Punjab National Bank (PNB), Moody's today placed the lender under review for downgrade.
-
PNB fraud: I-T dept seeks account details of Nirav Modi from counterpart agencies of tax havens
Business | Feb 20, 2018, 03:40 PM ISTAccording to sources, the I-T has written letters to its counterpart agencies of these countries. The tax department said that Modi may have parked money in tax havens.
-
PNB fraud: Finance Ministry writes to RBI, seeks view on lapses
Business | Feb 20, 2018, 01:12 PM ISTIn its letter, the Department of Financial Services sought the Central bank’s view on the lapses in the banking system and steps required to check recurrence of such incidents, news agency PTI reported quoting sources.
-
PNB fraud: SC to hear PIL seeking SIT probe on Friday
Business | Feb 20, 2018, 12:15 PM ISTThe CBI has already registered two FIRs -- one on January 31 and another a few days ago -- against billionaire diamond merchant Nirav Modi, his relative Mehul Choksi of Gitanjali Gems and others for allegedly defrauding the PNB of about Rs 11,400 cr.
-
No direct exposure to Punjab National Bank, says IndusInd Bank
Business | Feb 20, 2018, 12:10 PM ISTThe bank, one of the most active lenders in the gems and jewellery sector, however has a "small" exposure to Gitanjali Gems, promoted by Modi's uncle Mehul Choksi which is also an accused in the Rs 11,400-crore fraud.
-
PNB fraud: Who facilitated Mehul Choksi's escape, Congress asks govt
National | Feb 20, 2018, 08:41 AM ISTThe Congress also questioned PM Modi's silence on Amit Shah's son's company allegedly registering a profit 16,000 times the investment, Rafael fighter jets deal, death of Judge BH Loya, and ONGC stake in West Block of KG Basin.
-
PNB fraud: Nirav Modi’s lawyer says his client is not an absconder, talks that he is running away are wrong
Business | Feb 20, 2018, 08:27 AM ISTIn a chat with India TV, Vijay Aggarwal said that Nirav Modi had gone abroad for his business dealings when the entire PNB mess cropped out. He said that Modi is not evading the laws and that he doesn't want to become an offender.
-
PNB fraud: Will honour all ‘bonafide commitments’ under LoUs, says bank
Business | Feb 20, 2018, 06:57 AM ISTThe PNB’s notice assumes significance as it comes in the backdrop of the RBI’s clarification that it has not directed the bank to meet its commitments under the LoUs to other banks.
-
PNB fraud: News about banks taking hit of $3 billion false, says FinMin
Business | Feb 20, 2018, 06:32 AM ISTThe clarification comes amid reports that banks could take a hit of more than $3 billion from loans and corporate guarantees provided to jewellery designer Nirav Modi and Gitanjali Group of Companies.