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Who did fraud with PNB bank?
By far the biggest ever detected by an Indian bank, the PNB fraud involved Mehul Choksi, and the main accused Nirav Modi, who are absconded from the country before news of the scam came through.
How is Nirav Modi scammed in PNB?
Nirav Modi, who was declared a ‘fugitive economic offender’ in December, 2019, and his uncle Mehul Choksi are accused of committing a Rs 14,000 crore scam by obtaining credit facilities fraudulently from the PNB, and several of the former’s properties as well as that of his kin were attached by the Enforcement …
What went wrong with PNB?
On 29 January 2018, PNB lodged a FIR with CBI stating that fraudulent LoUs worth Rs 2.8 billion (Rs 280.7 crore) were first issued on 16 January. In the complaint, PNB had named three diamond firms, Diamonds R Us, Solar Exports and Stellar Diamonds. As of 18 May 2018, the scam has ballooned to over Rs 14,000 crore.
Who is Neelam Modi?
Nirav Deepak Modi (born 27 February 1971) is an Indian fugitive and businessman who was charged by Interpol and the Government of India for criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption, money laundering, fraud, embezzlement and breach of contract in …
Who is Paul Alfonso?
Alfonso, a Canadian national, is the chief executive of a payment processing company who splits his time between Vancouver and California. He met Modi at the centennial celebrations for the iconic Beverly Hills Hotel in 2012.
Who stays in Samudra Mahal?
Samudra Mahal: Home for uber rich has become talking point due to residents like Nirav Modi, Rana Kapoor and Jyotiraditya Scindia.
Is Punjab National Bank private?
Punjab National Bank, abbreviated as PNB, is an Indian nationalised bank. Headquartered at New Delhi, India, it is under the ownership of the Ministry of Finance, government of India….Punjab National Bank.
Headquarters in Dwarka, New Delhi | |
---|---|
Type | Public |
Traded as | BSE: 532461 NSE: PNB |
Industry | Banking, Financial services |
Founded | 19 May 1894 |
Who is owner of Samudra Mahal Mumbai?
Samudra Mahal — the nearly five-decade-old luxurious, sea-facing residential complex in Mumbai’s posh Worli area is back in the news due to now-infamous resident Yes Bank Founder Rana Kapoor. Home to Mumbai’s rich, the complex was earlier in the limelight as shamed diamantaire Nirav Modi’s residence.
When was Samudra Mahal built?
1974
Built in 1974 by Helicopter Services Pvt. Ltd., a company owned by the late Madhavrao Scindia, the 28-storied building is split in two wings A & B, with around 85 flats, on around two acres.
Who is behind thepnb fraud?
PNB fraud: The Rs 12,636-crore fraud was allegedly perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems.
What is the Punjab National Bank fraud?
Punjab National Bank stunned the country`s financial sector when it announced it had discovered an alleged fraud worth $1.8 billion at a single branch in Mumbai. Image source:
Will PNB pay up for loan given to fraudulent bank guarantees?
Reacting to media reports, it said on Friday it had received no instruction from the RBI or the government to pay the other banks who gave loans based on the fraudulent guarantees. Several banks that extended loans based on the PNB guarantees and are at risk of losing money want PNB to pay up, according to banking sources.
What is the Nirav Modi PNB case?
On Jan 29, PNB filed a criminal complaint with India`s federal investigative agency against three companies and four people, including billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the managing director of Gitanjali Gems, saying they had defrauded PNB and caused a loss of 2.8 billion rupees ($43 million).