Maliya Part 2 PNB Scam Rs 11,400 Crores Mumbai Branch: NIRAV MODI


“There have been reports that in wake of fraud, RBI has directed PNB to meet its commitments under Letter of Undertaking to other banks. RBI denies having given any such instructions. It’s a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank & failure of internal controls. RBI has already undertaken a supervisory assessment of control systems in PNB and will take appropriate supervisory action,” the Reserve Bank of India said.

The Ministry of External Affairs on Friday suspended the movement licenses of diamantaire Nirav Modi and his uncle Mehul Choksi after the direction of Enforcement Directorate. The visas have been suspended for a period of a month. The group has been requested to respond

Inside seven days for what reason their travel licenses should not be appropriated or renounced under the Passports Act 1967.

CBI tighten noose around Nirav Modi, Choksi in PNB fraud case

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The examination workplaces, banks, and now Interpol (International Criminal Police Organization) – all workplaces and foundations have settled the noose around extremely rich individual diamantaire Nirav Modi, who’s at the centre of the Rs 11,400-crore ‘deception’ perceived at Punjab National Bank’s (PNB) Mumbai branch. The principal grievance against Nirav Modi’s association was reported on January 29, however, he and his family had quite recently fled the country on January 1.

The ED issued summons to Nirav Modi and his business partner Mehul Choksi under the Prevention of Money Laundering Act (PMLA) to appear before its Mumbai office on February 23. It also registered another case against the jeweller.

Thirty-five new locations were raided, covering 11 states, by the ED. Diamond and gold worth Rs 549 crore were seized, bringing the total recovery to Rs 5649 crore. Twenty-nine immovable properties were also identified during the raids.

Since the ‘extortion’ is out in the open, the PNB has let go its 18 representatives, and the legislature has guaranteed not to “save anybody”. The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have assaulted a few properties of Nirav Modi and his charged assistants, including his relatives and business accomplice Mehul Choksi, the proprietor of jewel adornments mark Gitanjali Gems, and have fixed precious stone, gold, gems, and valuable stones worth over Rs 5,100 crore. In spite of the fact that Nirav Modi has apparently guaranteed the PNB experts to reimburse the whole cash, he has been requested to think of a solid arrangement






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