PNB Fraud Case: Arrested Accused Not Co-operating in Investigation, Say CBI Sources

19 Febrero, 2018, 02:03 | Author: Arnold Perez
  • 'Why Are Modi, Jaitley Silent on Nirav Modi Fraud?': Rahul Gandhi

It would seem so from the details provided by PNB to the investigative agency on the basis of which the Central Bureau of Investigation (CBI) filed two first information reports - one against three companies of Nirav Modi and the other against the Gitanjali group of three companies of Mehul Choksi, uncle of Nirav.

"CBI has Shetty, Single Window Operator Manoj Kharat and authorised signatory of the Nirav Modi Group of Firms, Hemant Bhat", a CBI official said.

The PNB told the CBI that the Reserve Bank of India (RBI) prescribes that outstanding buyer's credit for import of semi-precious and precious stones, including pearls, should not be extended for more than 90 days.

Even as billionaire Nirav Modi, the accused in the multi-crore Punjab National Bank scam, remain absconding, media reports reveal that the jeweller has close business and family relations with the Ambani family.

The agency had conducted searches at several places linked to Nirav Modi in Mumbai, Delhi, and Gujarat, and seized diamonds, jewellery and gold worth Rs 5,649 crore.

More news: Google removes 'view image' button from search results
More news: Lluvia de goles en victoria del Real Madrid
More news: Defensa y Justicia dio un paso en falso ante América de Cali

Modi is said to have been staying at a suite at JW Marriott's Essex House, which is only a short walk away from his jewelry retail store at Madison Avenue, NDTV reported. In case of default, the bank issuing the LoU has to pay the liability to credit giving bank along with accruing interest. It is up to the bank to ensure that only qualified employees can send messages over SWIFT. Other banks, including State Bank of India and Union Bank of India, are also said to be at risk of loss.

Since then, the loans and guarantees would have increased over the past year and the total "hit" to Indian banks "may well exceed" US$3 billion, according to an internal note prepared by the tax authority on its preliminary investigation into India's biggest bank fraud case.

The Indian banks overseas did not mind as their money was safe (under guarantee from PNB) and increasing because of the accruing interest.

Modi is the latest Indian businessman to have left the country to escape facing charges of financial crimes, prompting opposition parties to question Prime Minister Modi's fight against corruption. An alarmed bank dug out all such LoUs and FLCs showing a mammoth liability towards other banks.

The other banks which have or have had exposure to the fraud include State Bank of India (over Dollars 221 million), Allahabad Bank and Axis Bank among others. Once the formalities are complete, the request would be moved, the officer also noted. Subsequently, they increased the amounts by a message through the SWIFT transaction network to the beneficiary bank without any reference to the CBS of PNB.



66 killed as Iranian jet crashes into the mountains
The Aseman Airlines plane crashed into Mount Dena, Mohammad Taghi Tabatabai, a spokesperson for the company said . In October 1994, a Foker F-28 1000 twin-propeller plane crashed near Natanz, which is 180 miles from Tehran .

Lewandowki, de penalti en el minuto 91, da el triunfo al Bayern
La presión del Bayern siguió y al final se produjo un segundo penalti cuando Jean Luca Itter partido, derribó a Ro-bben. En otros partidos, el Friburgo se alejó de los puestos de descenso con un 1-0 sobre el Werder Bremen.

Gastón Mazzacane marcó un tiempo imbatible en Viedma — TC
Un Auto de Seguridad permitió un relanzamiento, pero el que prevaleció fue el de Chevrolet, mientras que Trucco superó a Ardusso . La próxima fecha, la segunda, se correrá el domingo 11 de marzo en el autódromo Parque Provincia de Neuquén, en Centenario.

Descubre la nueva voz de Bulma en Dragon Ball Super
La intérprete fue hallada inconsciente en el puesto del piloto de un vehículo que estaba estacionado en el distrito de Chūō-ku. De acuerdo al medio nipón Asahi, la causa de su muerte fue un desgarro en la aorta, que se habría producido mientras conducía.

Auburn forward McLeMore suffers gruesome dislocated ankle injury
The Tigers outscored SC 50-38 in the second half, but it wasn't enough to fully close the 21-point first half deficit. McLemore had a teammate fall into his lower leg, causing his left foot to turn in a direction it was not meant to.

South African Police Unit Seeks 'Fugitive' Gupta Brother Ajay
The Estina project was among those flagged by former public protector Thuli Madonsela in her State of Capture report in 2014. Another is newly elected ANC secretary general Ace Magashule, who also drove the Vrede initiative as Free State premier.

Javier Fernández gana el bronce en patinaje artístico
Fue la primera presea de la delegación española desde el bronce en eslalon femenino obtenido por Blanca Fernández Ochoa en 1992.

East London T20I: Indian eves elect to field first against Proteas
On bowling front, off-spinner Anuja Patil picked two wickets for 23 in her four overs to pin down South Africa's batting line-up. It wasn't exactly a flawless innings as she was dropped twice during her second half -entury in the shortest format.

Liverpool's style suits 'fantastic' Firmino and Salah - Klopp
DF Virgil Van Dijk, 8 - Excellent. "The crowd is there to make life difficult but I don't think it was too difficult for him". His pass to Salah was turned inside by the Egyptian for Firmino to apply the finishing touch for his 20th goal of the season.

Se confirmó el procesamiento al policía Luis Chocobar
El policía perseguía a un asesino, a alguien que le dio diez cuchilladas a una persona. Chocobar vive en La Boca, pero trabaja en la policía local de Avellaneda.