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Oct 26, 2020 · The scam story of diamond mogul Nirav Modi is one of the most controversial stories of the country. The over-ambitious voyage of the billionaire from nowhere shows how a man's drive to succeed at all costs could imperil the whole ecosystem.
Nov 9, 2022 · Nirav Modi fled India in 2018 to evade the law days before a case was registered against him and his associates. PNB unearthed the scam on January 25, 2018, and submitted a fraud report to the Reserve Bank of India (RBI) on January 29.
On 8 June 2020, The Prevention of Money Laundering Act (PMLA) Court has ordered a confiscated of nearly Rs 1,400 crores worth property of Nirav Modi. In May 2020, the UK court adjourned the Nirav Modi trial until September 2020, on the Five-day extradition trial hearing.
May 12, 2022 · His uncle Mehul Choksi, his wife Ami Modi, sister Purvi Modi, brothers Neeshal Modi and Nehal Modi are all being investigated by the Indian authorities in relation to the PNB Scam for charges ranging from aiding Nirav Modi to money laundering via companies owned by family members.
Feb 15, 2018 · PNB FRAUD. Billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders. The Enforcement...
Feb 25, 2021 · PNB scam: UK court orders extradition of Nirav Modi to India. February 5, 2018: The Central Bureau of Investigation (CBI) launches an investigation into the alleged scam. February 16, 2018: The Enforcement Directorate (ED) seizes a cumulative Rs 5,674 crore worth of diamonds, gold and jewellery from Nirav Modi's home and offices.
Nov 9, 2022 · Nirav Modi and his uncle Mehul Choksi are accused of routing transactions of about Rs 13,600 crore through fraudulent Letters of Undertaking (LoUs) of Punjab National Bank (PNB). Both of them left India in the first week of January 2018, weeks before the scam was revealed.
The Punjab National Bank scam relates to fraudulent letter of undertaking worth Rs 10,000 crore issued by the bank. The key accused in the case were jeweller and designer Nirav Modi, his maternal uncle Mehul Choksi, and other relatives and some PNB employees.
Nov 10, 2022 · Nirav Modi and his uncle, Mehul Choksi, created a complex web of deception through fraudulent Letters of Undertaking (LoUs) to siphon off Rs 14,000 crore from state-owned Punjab National Bank.
Feb 15, 2018 · Preliminary investigation into the alleged fraudulent transactions worth ₹11,500 crore has revealed a complete breakdown of supervision and auditing mechanism in Punjab National Bank’s Mumbai ...
