PNB Scam

Timelines
Mehul Choksi will be extradited, says Antigua's PM

25 Jun 2019

Mehul Choksi will be extradited, says Antigua's PM

India's grip is tightening around Mehul Choksi, and soon he might be extradited.

Nirav Modi's fourth bail plea rejected by UK court

12 Jun 2019

Nirav Modi's fourth bail plea rejected by UK court

On Wednesday, the Royal Courts of Justice denied the bail application of fugitive businessman Nirav Modi. This was the fourth time that Modi, a prime accused in multi-crore PNB scam, approached a court seeking respite.

London court rejects Nirav Modi's bail plea for third time

26 Apr 2019

London court rejects Nirav Modi's bail plea for third time

On Friday, a UK court rejected bail application of fugitive Indian businessman Nirav Modi for the third time. He was presented before Westminster Magistrates Court via video conferencing.

Nirav Modi-owned 13 luxury cars to go under hammer

01 Apr 2019

Nirav Modi-owned 13 luxury cars to go under hammer

After his 68 artworks, fugitive billionaire Nirav Modi's 13 luxury cars will reportedly go on auction on April 18.

68 artworks owned by billionaire Nirav Modi up for auction

26 Mar 2019

68 artworks owned by billionaire Nirav Modi up for auction

68 artworks, owned by fugitive billionaire Nirav Modi, which are at display for preview in Mumbai's JK Banquet, are set to go on auction today.

Mehul Choksi's namesake just submitted thesis on PM Modi

18 Mar 2019

Mehul Choksi's namesake just submitted thesis on PM Modi

A student from Surat has submitted his doctorate thesis on Prime Minister Narendra Modi. Just like the subject of his research, the name of the student is equally interesting- Mehul Choksi.

Nirav Modi spotted in London, running diamond business: Report

09 Mar 2019

Nirav Modi spotted in London, running diamond business: Report

Nirav Modi, the fugitive diamantaire wanted in the multi-crore PNB scam, is living freely in London, a report in The Telegraph confirmed.

#PNBScam: Mehul Choksi gives up Indian citizenship to avoid extradition

21 Jan 2019

#PNBScam: Mehul Choksi gives up Indian citizenship to avoid extradition

In what is being seen as a move to avoid extradition to India, fugitive businessman Mehul Choksi has surrendered his Indian passport to the Indian High Commission in Antigua and Barbuda.

#PNBScam: Interpol issues red corner notice against Mehul Choksi

13 Dec 2018

#PNBScam: Interpol issues red corner notice against Mehul Choksi

Almost half a year after Interpol had issued a red corner notice against absconding diamantaire Nirav Modi, the agency has issued a red corner notice against his uncle and accomplice in the Rs. 14,000cr PNB scam, Mehul Choksi.

PNB Scam: Mehul Choksi's associate Deepak Kulkarni arrested in Kolkata

06 Nov 2018

PNB Scam: Mehul Choksi's associate Deepak Kulkarni arrested in Kolkata

After months, authorities have finally made a break in the Rs. 13,000cr PNB fraud case.

ED seizes Nirav Modi's Rs. 255cr-worth assets in Hong Kong

25 Oct 2018

ED seizes Nirav Modi's Rs. 255cr-worth assets in Hong Kong

The Enforcement Directorate (ED) today said it has attached valuables and jewelry worth Rs. 255 crore in Hong Kong of diamond jeweler Nirav Modi in connection with the alleged $2 billion fraud in Punjab National Bank (PNB).

PNB Fraud: ED attaches Rs. 218.46cr-worth assets of Choksi, others

17 Oct 2018

PNB Fraud: ED attaches Rs. 218.46cr-worth assets of Choksi, others

The Enforcement Directorate (ED) on Wednesday seized assets worth over Rs. 218 crore in the nearly Rs. 13,000 crore loan fraud case probe, officials said.

Nirav Modi's fake diamonds cost this Canadian man his relationship

10 Oct 2018

Nirav Modi's fake diamonds cost this Canadian man his relationship

The man behind the multi-crore banking fraud in India, Nirav Modi, had sold a Canadian national two fake diamond rings costing him $200,000.

PNB scam: ED attaches Nirav Modi's property worth Rs. 637cr

01 Oct 2018

PNB scam: ED attaches Nirav Modi's property worth Rs. 637cr

On Monday, the Enforcement Directorate attached properties and bank account related to fugitive Nirav Modi worth Rs. 637 crore.

#PNBScam: Choksi gets time to reply to ED plea

27 Sep 2018

#PNBScam: Choksi gets time to reply to ED plea

A special court yesterday gave diamond jeweler Mehul Choksi, a key accused in PNB bank fraud case, time till October 30 to file his reply to an Enforcement Directorate (ED) plea seeking to declare him a "fugitive" under Fugitive Economic Offenders Act.

PNB Scam: India's largest law firm under investigators' scanners

19 Sep 2018

PNB Scam: India's largest law firm under investigators' scanners

According to Reuters, India's largest law firm, Cyril Amarchand Mangaldas (CAM) has come under scrutiny in connection with the Rs. 14,000cr PNB scam after investigators seized documents relating to the scam from CAM premises.

PNB scam: ED's allegations are baseless, claims Mehul Choksi

11 Sep 2018

PNB scam: ED's allegations are baseless, claims Mehul Choksi

Beleaguered diamantaire Mehul Choksi on Tuesday said all allegations leveled on him by the Enforcement Directorate are false and baseless.

#PNBScam: Interpol issues Red Corner Notice against Nirav Modi's sister

10 Sep 2018

#PNBScam: Interpol issues Red Corner Notice against Nirav Modi's sister

Interpol has issued a Red Corner Notice (RCN) against Purvi Modi, a Belgian national and absconding billionaire jeweler Nirav Modi's sister, in connection with the alleged $2 billion PNB money laundering case, officials said Monday.

Mehul Choksi's properties are money laundering assets: PMLA Authority

02 Sep 2018

Mehul Choksi's properties are money laundering assets: PMLA Authority

A designated PMLA authority has held that 41 properties worth about Rs. 1,210 crore, attached by the Enforcement Directorate (ED) in the name of absconding diamond jeweler Mehul Choksi and his associated firms, are money laundering assets.

United Kingdom authorities confirm Nirav Modi is in UK

20 Aug 2018

United Kingdom authorities confirm Nirav Modi is in UK

The United Kingdom authorities have confirmed that diamantaire Nirav Modi is in the UK. Further, it has been reported that the CBI has already filed a case for his extradition.

India submits extradition request for Mehul Choksi to Antigua

05 Aug 2018

India submits extradition request for Mehul Choksi to Antigua

India has submitted a request to Antigua to extradite Mehul Chokdi, Gitanjali Gems chairman, one of the key accused in the Rs. 12,000cr PNB scam.

PNB Scam: Senior executive of Nirav Modi's firm gets bail

04 Aug 2018

PNB Scam: Senior executive of Nirav Modi's firm gets bail

A special CBI court in Mumbai today granted bail to Vipul Ambani, a senior executive of a firm owned by diamantaire Nirav Modi, in the multi-crore Punjab National Bank scam.

Indian agencies told Antigua no adverse records against Choksi: Report

03 Aug 2018

Indian agencies told Antigua no adverse records against Choksi: Report

Indian agencies told Antigua that there was no adverse information against Mehul Choksi when the Caribbean country did its background check on the fugitive billionaire before granting him citizenship in May 2017, Antiguan paper the Daily Observer reported.

India asked Antigua to detain Choksi: Details here

30 Jul 2018

India asked Antigua to detain Choksi: Details here

India requested authorities in Antigua and Barbuda to detain PNB scam fugitive Mehul Choksi after it received information about his presence in the Caribbean island, government sources said today.

PNB Scam: Choksi moves to Antigua, takes up local passport

24 Jul 2018

PNB Scam: Choksi moves to Antigua, takes up local passport

Absconding diamantaire Mehul Choksi has left the US to take refuge in the island of Antigua located in the tiny Caribbean country of Antigua and Barbuda.

PNB Fraud case: Interpol issues Red Notice against Nirav Modi

02 Jul 2018

PNB Fraud case: Interpol issues Red Notice against Nirav Modi

Indian agencies are one step closer to nabbing Nirav Modi, the prime accused in a Rs. 13,400 crore fraud, after the Interpol issued a Red Corner Notice against him.

How is Nirav Modi traveling with revoked Indian passport?

20 Jun 2018

How is Nirav Modi traveling with revoked Indian passport?

It's been months since Nirav Modi started playing cat-and-mouse with Indian authorities. Recently, after reports emerged he was in the UK, he left for Brussels within two days.

Nirav Modi still traveling on Indian passport despite revocation: Reports

18 Jun 2018

Nirav Modi still traveling on Indian passport despite revocation: Reports

Days after he travelled from London to Brussels, reports have claimed that embattled billionaire Nirav Modi made the journey on an Indian passport.

After fresh-speculation on whereabouts, Nirav Modi flees to Brussels: Reports

14 Jun 2018

After fresh-speculation on whereabouts, Nirav Modi flees to Brussels: Reports

Days after reports surfaced that embattled diamantaire Nirav Modi is in UK, he's understood to have fled to Brussels.

Business Roundup: Here are today's top 5 Business news

11 Jun 2018

Business Roundup: Here are today's top 5 Business news

Here's your daily dose of top five business news.

Embattled billionaire Nirav Modi seeking political asylum in UK: Reports

11 Jun 2018

Embattled billionaire Nirav Modi seeking political asylum in UK: Reports

Billionaire diamantaire Nirav Modi has headed to the UK seeking asylum alleging "political persecution" in India, the latest reports claim.

Fire at I-T department's office destroys Nirav files, department refuses

03 Jun 2018

Fire at I-T department's office destroys Nirav files, department refuses

According to sources, files on the absconding Nirav Modi, Mehul Choksi, and several others wanted for economic offenses were destroyed in a major fire at the premises of the Income Tax Department in Mumbai on Friday.

Is the net finally closing in around Nirav Modi?

23 May 2018

Is the net finally closing in around Nirav Modi?

The Enforcement Directorate has provisionally attached Rs. 170cr worth of assets belonging to Nirav Modi in connection with the Rs. 13,400cr PNB scam.

Fraud-hit PNB posts Rs. 13,420cr loss in Q4 of FY17-18

15 May 2018

Fraud-hit PNB posts Rs. 13,420cr loss in Q4 of FY17-18

On Tuesday, the fraud-hit Punjab National Bank (PNB) reported a massive net loss of Rs. 13,419.91cr in Q4 of FY17-18.

PNB Scam: FinMin cracks down on people in CBI chargesheet

14 May 2018

PNB Scam: FinMin cracks down on people in CBI chargesheet

Following the filing of the CBI chargesheet today in the PNB scam, the board of the Allahabad Bank was asked to remove Usha Ananthasubramanian as its CEO and MD by Financial Services Secretary, Rajiv Kumar.

PNB scam: CBI to file chargesheet against several senior bankers

14 May 2018

PNB scam: CBI to file chargesheet against several senior bankers

After three FIRs and 19 arrests, the CBI is all set to file its first chargesheet in the Rs. 12,600cr Punjab National Bank (PNB) loan fraud case involving jewellers Nirav Modi and Mehul Choksi.

PC Jewellers loses over three-quarters of its investor wealth

04 May 2018

PC Jewellers loses over three-quarters of its investor wealth

PC Jewellers Ltd., which saw its market worth reach $3.6bn at the start of the year is now languishing in misery at less than a quarter of that value.

Govt. can confiscate absconding economic offenders' assets without conviction

21 Apr 2018

Govt. can confiscate absconding economic offenders' assets without conviction

In a bid to put pressure on economic fugitives and confiscate their properties, the Union Cabinet today approved a proposal to promulgate the Fugitive Economic Offenders Ordinance 2018.

CBI court issues non-bailable warrants against Nirav Modi, Mehul Choksi

08 Apr 2018

CBI court issues non-bailable warrants against Nirav Modi, Mehul Choksi

A special CBI court has issued non-bailable warrants against Nirav Modi and Mehul Choksi, both of whom left the country in January.

Government will bring back Nirav Modi and Mehul Choksi: Sitharaman

30 Mar 2018

Government will bring back Nirav Modi and Mehul Choksi: Sitharaman

The government will bring back Nirav Modi and Mehul Choksi, who fled the country before the Rs. 12,650 PNB scam came to light, asserted Defense Minister Nirmala Sitharaman today.