#PNB loan fraud case

[odnewsin]

PNB fraud: ED begins restitution of over Rs 2,500 crore assets of Mehul Choksi

New Delhi: The Enforcement Directorate Tuesday said it has begun restituting assets worth more than Rs 2,500 crore as part of a money laundering investigation against absconding businessman Mehul Choksi in connection with the alleged Rs 13,000 crore PNB loan fraud case. The federal agency said in a statement that it initiated the ‘restitution of assets’ to the rightful owners in this case…

[vilaspatelvlogs]

ED की बड़ी कार्रवाई, चोकसी और गीतांजलि समूह की करोड़ों की संपत्तियां की कुर्क

ED की बड़ी कार्रवाई, चोकसी और गीतांजलि समूह की करोड़ों की संपत्तियां की कुर्क

Enforcement Directorate प्रवर्तन निदेशालय (ईडी) ने पंजाब नेशनल बैंक (पीएनबी) कथित धोखाधड़ी मामले में गीतांजलि समूह और मुख्य आरोपी एवं इसके प्रवर्तक मेहुल चोकसी की 14 करोड़ रुपये से अधिक की संपत्ति कुर्क है. यह कथित धोखाधड़ी मामला 13,000 करोड़ रुपये से अधिक का है. फाइल फोटो Source link

[avitaknews]

PNB Scam: भगोड़े Nirav Modi को लाया जाएगा भारत, अदालत ने फैसला सुनाते समय की तीखी टिप्पणी

PNB Scam: भगोड़े Nirav Modi को लाया जाएगा भारत, अदालत ने फैसला सुनाते समय की तीखी टिप्पणी

लंदन: सरकारी बैंकों के हजारों करोड़ लेकर फरार हुए भगोड़े नीरव मोदी को भारत प्रत्यर्पित किया जाएगा. लंडन की अदालत ने उसकी अपील खारिज कर दी है और कहा कि उसे जल्द से जल्द भारत भेजा जाए. ब्रिटेन के जज ने कहा कि नीरव मोदी ने पूरे मामले में सबूत मिटाए, गवाहों को धमकाया. जज ने कहा कि नीरव मोदी को भारत में चल रहे केस में जवाब देना है. जज ने ये भी कहा है कि नीरव मोदी के लिए आर्थर रोड जेल सही है. अदालत की…

[squarwell-breakingnews]

Experts debate Nirav Modi's suicide risk in UK high court - Times of India

Experts debate Nirav Modi’s suicide risk in UK high court – Times of India

LONDON: The high court in London on Tuesday began hearing evidence from two leading experts in the field of psychiatry to determine the level of suicide risk faced by Nirav Modi if he is extradited to India to face charges of fraud and money laundering, amounting to an estimated $2 billion in the Punjab National Bank (PNB) loan scam case. Lord Justice Jeremy Stuart-Smith and Justice Robert Jay…

[znewstech]

Experts debate Nirav Modi's suicide risk in UK high court

Experts debate Nirav Modi’s suicide risk in UK high court

LONDON: The high court in London on Tuesday began hearing evidence from two leading experts in the field of psychiatry to determine the level of suicide risk faced by Nirav Modi if he is extradited to India to face charges of fraud and money laundering, amounting to an estimated USD 2 billion in the Punjab National Bank (PNB) loan scam case. Lord Justice Jeremy Stuart-Smith and Justice Robert Jay…

[thenewsfactsnow]

DHFL bank fraud case is a dangerous sequel in banking scams

DHFL bank fraud case is a dangerous sequel in banking scams #DHFL, #Wadhawans booked by #CBI in 34,615cr #bank #fraud

DHFL bank fraud case is the largest bank loan fraud case ever occurred in India, such scams has wreck investor confidence in the banking system. This scam follows he Nirav Modi-led PNB loan fraud (Rs 13,000 crore) and ABG Shipyard loan fraud (Rs 20,000 crore) were considered to be the biggest. The CBI has booked former promoters of Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan and…

[goldwingsartsinstitute]

Rs 73 cr fraud at PNB, Indian Bank: CBI lodges case against seven | India News

Rs 73 cr fraud at PNB, Indian Bank: CBI lodges case against seven | India News

New Delhi: The Central Bureau of Investigation has registered a case against seven accused, including private firms, for perpetrating a fraud at Punjab National Bank (PNB) and Allahabad Bank in credit facilities and term loans to the tune of nearly Rs 73 crore during 2013. The CBI identified the accused as M/s S.R. Alcobev Pvt. Ltd, private company based at New Industrial Estate, Jagarpur,…

[doonitedin]

Nirav Modi UK extradition appeal to be heard on December 14

Nirav Modi UK extradition appeal to be heard on December 14

Image Source : FILE PHOTO/PTI Nirav Modi is the subject of two sets of criminal proceedings, with the CBI case relating to a large-scale fraud upon PNB through the fraudulent obtaining of letters of undertaking (LoUs) or loan agreements, and the ED case relating to the laundering of the proceeds of that fraud. A British court will hear on December 14 an appeal filed by fugitive diamond merchant…

[detainedengineers]

5 Biggest Scams In the History Of India

The top scams that I will focus on would be scams posed by

There are biggest Scams in the history of India is the word which makes us think that how rich India is? When we were kids, we were told by our parents that India was a Golden Bird before the British invaded India. They are alleged to take control of the most glorious country around the world around 270 years ago. How much have the Indian Financial situation has improved since then? Correct, Not much.

India has always been prey to rampant corruption and weak government norms. In the end, who is to pay the money, the Precious Taxpayers. Today, through this article, I am going to light up the 5 biggest scams in India that shook the government and the country.

Here are the list of 5 biggest scams in the history of India:

Harshad Mehta Scam

The famous stockbroker of the late 1980s and early 1990, Harshad Mehta became the buzz in 2020 due to the web series released by Amazon Prime. He managed to figure out the loophole in the Governmental norms. Involved in a scam like the Bank Receipts Scam, Stamp Paper Scam, and Ready forward deal scam Harshad Mehta, the Big Bull was quite a personality.

He managed to take a huge amount of loans from various banks and put it up in the stock market, and then through fictitious practice, he would raise the stock prices of the specific company he is investing in. This process was running well until the stocks crashed and the loss was so huge that the total amount lost was INR 10,000 Crore which was more than the total health budget and education budget of India combined. He was arrested in 1992 and was kept in custody for 5 years for fraud. This is one of the most popular and biggest scams in the history of India.

Nirav Modi

How about a celeb Diamantaire who was handling famous IPL for the country? Mr. Nirav Modi with his uncle Mehul Choksi scammed the renowned Private bank, Punjab National bank (PNB), and disappeared. The non-repayment cases in banks are not new but the Jeweler businessmen became an exception as the amount of loan he had managed to take from the Bank was whooping Rs. 13,500 Crore.

The Bank officials accepted that the loan was issued by some of the senior management officials through violating the rules of issuing such a huge amount without a legal guarantee document. Nirav Modi used to receive the amount in the overseas bank branches through the SWIFT financial communication system. This led to the taxpayers’ money being lost in the end. Even though the fugitive is arrested in London, in the year 2019, the money is still far from retracted.

Vijay Mallya

The former owner of Kingfisher, Vijay Mallya was again a celebrity and a former member of Parliament took a loan from multiple (17) banks and vanished. The loan amount was over Rs. 9,000 Crore. He was accused of fraud and money laundering cases.

Vijay Mallya was a businessman involved in the brewery business. The business was profitable but on the bigger picture, when he thought of expanding the business, he chose Airlines. Soon after the initial days, the airlines went into breakage and he needed money to keep running. Loans were taken through various banks but led to nowhere and finally collapsed to a limit that he had to leave the country instead of the repayment of loans. He was also arrested in London but hasn’t been sent to India for further Enquiry. The Kingfisher scam is also the most famous and biggest scam in the history of India.

Ketan Parekh

Ketan Parekh was the second person who could shake the Bombay Stock Exchange (BSE) after Harshad Mehta. He was a protégé of Harshad Mehta and knew the market in and out. There were some stocks where Ketan Parekh could extract 200% of the annual return on various stocks.

He started playing the operator of the market and as the market came in control, he got involved in insider trading. And again like his teacher, he took an unguaranteed loan from banks and invested until the stock market crashed and got Ketan into trouble. He was found guilty of investing a loss of Rs. 2,000 Crore and arrested.

Satyam Scam

This was a scam produced by the former promoters and managers of the Satyam scam, Security and Exchange Board of India. They were able to carry out fraud on a huge scale, Ramalingam Raju, his brothers and 7 others were accused of the fraud.

He and his allies were arrested for the Biggest Scams in the history of India and each jailed for 7 years. The fraud was carried out by overstating the amount in the balance sheets of the various transactions in Exchange books. The total amount incurred was Rs. 14,162 Crore. The scam broke out as Ramalingam Raju wrote confession letters to the SEBI and Stock Exchange.  

Here is the most trending news: read more…

[vilaspatelvlogs]

PNB Scam: भगोड़े Nirav Modi को लाया जाएगा भारत, अदालत ने फैसला सुनाते समय की तीखी टिप्पणी

PNB Scam: भगोड़े Nirav Modi को लाया जाएगा भारत, अदालत ने फैसला सुनाते समय की तीखी टिप्पणी

लंदन: सरकारी बैंकों के हजारों करोड़ लेकर फरार हुए भगोड़े नीरव मोदी को भारत प्रत्यर्पित किया जाएगा. लंडन की अदालत ने उसकी अपील खारिज कर दी है और कहा कि उसे जल्द से जल्द भारत भेजा जाए. ब्रिटेन के जज ने कहा कि नीरव मोदी ने पूरे मामले में सबूत मिटाए, गवाहों को धमकाया. जज ने कहा कि नीरव मोदी को भारत में चल रहे केस में जवाब देना है. जज ने ये भी कहा है कि नीरव मोदी के लिए आर्थर रोड जेल सही है. अदालत की…

[moneycafe]

PNB Fraud: ED Says Nirav Modi's Sister Sends Rs 17.25 Cr From UK To Indian Govt Account

PNB Fraud: ED Says Nirav Modi’s Sister Sends Rs 17.25 Cr From UK To Indian Govt Account

Business oi-PTI | Published: Thursday, July 1, 2021, 19:32 [IST] The ED on Thursday said fugitive businessman Nirav Modi’s sister has “remitted” over Rs 17 crore from a UK bank account to that of the Indian government after she was allowed pardon from criminal proceedings in lieu of extending help in the investigation into the over Rs 13,000 crore PNB loan fraud case. Purvi Modi alias Purvi…

[doonitedin]

Nirav Modi's Sister Remitted Rs 17.25 Crore From UK Account To Indian Govt, Says ED

Nirav Modi’s Sister Remitted Rs 17.25 Crore From UK Account To Indian Govt, Says ED

The Enforcement Directorate (ED) on Thursday said fugitive businessman Nirav Modi’s sister has “remitted” over Rs 17 crore from a UK bank account to that of the Indian government after she was allowed pardon from criminal proceedings in lieu of extending help in the PNB loan fraud case. The ED further added that Purvi Modi had on June 24 intimated the probe agency that she had received the…

[sidnazpro2020]

Latest News Today - Mehul Choksi Captured In Dominica While Trying To Flee

Latest News Today – Mehul Choksi Captured In Dominica While Trying To Flee

Sources said Mehul Choksi had reached Dominica by boat (File) New Delhi: Fugitive diamond merchant Mehul Choksi — wanted in connection with the PNB loan fraud case — has been captured from Dominica while trying to flee to Cuba, sources have said. The 62-year-old had gone missing earlier this week from the Caribbean island nation of Antigua and Barbuda, where he fled in 2018. His disappearance…

[newsmatters]

Fugitive Mehul Choksi Missing In Antigua; May Be In Cuba, Say Sources

Fugitive Mehul Choksi Missing In Antigua; May Be In Cuba, Say Sources

Mehul Choksi fled to Antigua – which has no extradition treaty with India – in 2018 (File) Highlights Mehul Choksi is wanted in Rs 13,000 crore PNB loan fraud case Police in the Caribbean island nation have launched a manhunt for him He has been involved in a long-running legal battle to stop extradition New Delhi: Mehul Choksi – the 62-year-old fugitive diamantaire wanted by the CBI and…

[blairemclaren]

Mehul Choksi Missing -  Help Locate Mehul Choksi

Mehul Choksi Missing –  Help Locate Mehul Choksi

Mehul Choksi Missing –  Help Locate Mehul Choksi the 62-year-old fugitive diamantaire wanted by the CBI and Enforcement Directorate in connection with ₹ 14,000 crore PNB loan fraud and money-laundering case – has gone missing in the Caribbean island nation of Antigua and Barbuda, to which he fled in 2018. Mr Choksi’s lawyer, Vijay Aggarwal, confirmed to NDTV on Tuesday morning that his client is…