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Latest Articles in nirav modi

UK confirms Nirav Modi's presence in Britain; CBI Approaches Interpol

The United Kingdom has confirmed that Indian diamantaire Nirav Modi, who is at the centre of a money laundering case linked to the over Rs 13,000 crore Punjab National Bank (PNB) fraud, is currently in that country, top officials said today. Meanwhile Central Bureau of Investigation (CBI) approached the Interpol on Monday, seeking a red corner notice against billionaire jeweler Nirav Modi, who is at the centre of over $2 billion PNB fraud case.

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Nirav Modi Flees To UK Claiming Political Asylum: Report

Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second-largest lender, to the tune of more than USD 2 billion

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PNB Fraud: ED Files Charge Sheet Against Nirav Modi, Associates

It is expected that the agency would file a second charge sheet against Modi's uncle and jeweller Mehul Choksi and his businesses

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CBI's Special Court Issues Warrants Against Nirav Modi, Mehul Choksi In PNB Fraud Case

The case, dubbed India's largest-ever bank fraud, has led to a huge probe and 20 arrests have been made so far in relation to the matter

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India Asks Hong Kong To Arrest Jeweller Nirav Modi In PNB Fraud Case

"The ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region, People's Republic of China," junior foreign minister V.K. Singh told parliament on Thursday

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PNB-Nirav Modi Isn't A One-off Case

Better late than never, apt time for banking sector reforms is now

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Nirav Modi Indirectly Challenging PMLA Case Through His Firm: ED To HC

The submission that Nirav Modi was "indirectly" challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta

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PNB Discloses USD 145 Million Additional Exposure In Fraud Probe

In a court filing on Tuesday, police said the Gitanjali group of companies controlled by jeweller Mehul Choksi allegedly defrauded PNB of 70.8 billion rupees ($1.09 billion). PNB had previously pegged its exposure to the Gitanjali companies at 61.38 billion rupees

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PNB To Honour Claims By Banks, But With Conditions

Both Modi and Choksi have denied wrongdoing, and so have two key accused PNB employees in the case that has been dubbed as India's largest ever bank fraud

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PNB May Be Given 1 Year To Provision Against Rs 12,646 Crore Fraud

Bank has written a letter to banking sector regulator seeking its opinion on making provisions for fraud

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Suddenly Something!

In this issue of BW Businessworld, we bring to you how Nirav Modi scam has once again pointed out the weak links in Indian banking system

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Nirav Modi's Bankrupt US Firm Firestar Diamond Whets Buyer Interest Amid $2 Billion Fraud Probe

Firestar Diamond and its affiliates had annual sales of around $90 million, with clients such as Costco Wholesale, Macy's and JC Penney Co Inc

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As Safe As A Bank!

The idiom has lost its meaning. The Nirav Modis of the world have shown how easy it is to short circuit internal controls and processes in our banks

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