Notable Indian businessmen fugitives embroiled in financial scandals in India, like Nirav Modi, Mehul Choksi and Vijay Mallya, managed to escape the country due to the failure of investigative agencies to arrest them in time, a special court in Mumbai observed on May 29 while hearing a plea of an accused booked under PMLA.

Court lambasts probe agency, blames it for Nirav Modi, Mehul Choksi and Vijay Mallya fleeing India

The UK government was earlier informed by the Indian authorities that Nirav Modi's passport was revoked

India can start extradition process for Nirav Modi: UK Crown Prosecution Service

The Secretary, Department of Financial Services (DFS) Rajiv Kumar said that the department has asked the boards of the Punjab National Bank and Allahabad Bank to divest the powers of all the accused in the case

PNB scam: CBI files first chargesheet in Mumbai special court

Diamond businessman Nirav Modi had connived with PNB officials to get a number of LoUs made in his favour.

PNB to honour LoUs worth Rs 6,500 crore due to lenders

The CBI had earlier arrested Shibaji Panja and Kaustubh Roy who were the directors of RP Infosystems

CBI files chargesheet against ex-Canara Bank CMD RK Dubey in 68 crore loan default case

A PNB spokesman had no immediate comment.

Another fraud detected in PNB worth over 9 crores in Brady House branch: CBI

Gitanjali Gems stock slumped 5 per cent to hit its fresh 52-week low of Rs 17.45 on BSE.

Scam-hit Gitanjali Gems hits new low in stock market

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