Finance Minister Arun Jaitley slams regulators’ failure to detect PNB fraud

Finance Minister Arun Jaitley today slammed regulators for failing to detect the Rs 11,400-crore fraud at Punjab National Bank for seven long years, saying unlike politicians, regulators in the Indian system are unaccountable. Speaking on the scam for the second time this week, he said employees conniving with fraudsters is worrisome. Also worrisome is that […]

PNB fraud : Vipul Ambani and 5 others in CBI custody till Mar 5

A special court here today remanded Vipul Ambani, the president (finance) of Nirav Modi’s Fire Star Diamond, and five others in CBI custody till March 5 in connection with the Rs 11,400 crore alleged fraud in Punjab National Bank (PNB). The six were arrested yesterday in connection with two FIRs registered by the CBI involving […]

PNB fraud: Centre opposes plea for SIT probe

The Centre today opposed in the Supreme Court a PIL seeking an independent probe and deportation of billionaire jeweller Nirav Modi in the over Rs 11,000 crore PNB fraud case, saying an FIR has been lodged and a probe was on. A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D […]

PNB fraud PMLA case : ED summons Nirav Modi and Mehul Choksi

The ED today issued summons for appearance to billionaire diamond merchant Nirav Modi and his business partner Mehul Choksi in connection with its money laundering probe in the Rs 11,400 crore alleged fraud in Punjab National Bank (PNB), officials said. They said both Modi and Choksi were summoned under the Prevention of Money Laundering Act […]