The worst is over for PNB and it will come out of the mess created by the Nirav Modi fraud case in six months, the state-run lender's Managing Director Sunil Mehta said Sunday.

Punjab National Bank (PNB) was hit by country's biggest ever banking fraud of more than Rs 13,000 crore perpetrated by billionaire diamantaire Nirav Modi and his associates in connivance with some officials of a branch of the bank in Mumbai.

The bank has received tremendous support from the government, other stakeholders and employees to come out of the situation, Mehta said in an interview.

"So worst is behind us. Everything now seems to be under control as surgery is over, now we are in recovery phase. We are anticipating that we will be able to come out of this entire problem and pain in the next 6 months," he said.

Emphasising the long legacy and strength of the bank, Mehta said, "it is a 123-year old institution which was founded during Swadeshi movement by Lala Lajpat Rai. This institution has 7,000 branches spread through length and breadth of the country with business of more than Rs 10 lakh crore in the domestic market. So fraud of this nature could not shake confidence of our customers during this period."

Even during trying times, the bank's business has grown better than the industry, he said, adding that credit has witnessed a growth rate of about 10 per cent, in line with the guidance that was shared with investors.

With regard to deposits, the bank has recorded a growth of 6.2 per cent, he said.

"So, we have grown in line with industry and even during difficult days it was business as usual. With all this negativity which was created in the environment, the customers' confidence was not lost and the credit goes to 70,000 employees who stood with me in difficult time.

"They have gone the extra mile, they have done extra hard work to see that every customer is attended to properly. Now, we are in the bounce back mode," he said.

"It is now clear that it was a standalone incident in one of our 7,000 branches because of connivance with some of the staff of the branch. We have learned lessons from it. Whenever a problem comes, it gives an opportunity to strengthen our existing systems and processes. We have improved every system and process with more emphasis on offline monitoring," he said.

Citing an example, Mehta said the bank is going to reform the credit processes by dividing it into four verticals -- sourcing, processing, monitoring and recovery. All these will be a separate compartment so that the risk is mitigated.

Besides, he said, the bank has launched 'Mission Parivartan' to realign all business processes to meet present day requirements.

"We decided to deploy technology. We had strengthened our back office for foreign exchange dealings, now we are going to expand it to cover 100 per cent activities in forex-related areas. We started with integrating SWIFT with the core banking solution and we will be able to complete the process before April 30," he said.

On internal audit, he said besides physical audit, there will be offline monitoring too for which the bank is creating a separate cell which will do offsite monitoring of all exceptional transaction reports.

'So worst is behind us. Everything now seems to be under control as surgery is over, now we are in recovery phase. We are anticipating that we will be able to come out of this entire problem and pain in the next 6 months' PNB Managing Director said.

The worst is over for PNB and it will come out of the mess created by the Nirav Modi fraud case in six months, the state-run lender's Managing Director Sunil Mehta said Sunday. Punjab National Bank (PNB) was hit by country's biggest ever banking fraud of more than Rs 13,000 crore perpetrated by billionaire diamantaire Nirav Modi and his associates in connivance with some officials of a branch of the bank in Mumbai. The bank has received tremendous support from the government, other stakeholders and employees to come out of the situation, Mehta said in an interview. "So worst is behind us. Everything now seems to be under control as surgery is over, now we are in recovery phase. We are anticipating that we will be able to come out of this entire problem and pain in the next 6 months," he said. Emphasising the long legacy and strength of the bank, Mehta said, "it is a 123-year old institution which was founded during Swadeshi movement by Lala Lajpat Rai. This institution has 7,000 branches spread through length and breadth of the country with business of more than Rs 10 lakh crore in the domestic market. So fraud of this nature could not shake confidence of our customers during this period." Even during trying times, the bank's business has grown better than the industry, he said, adding that credit has witnessed a growth rate of about 10 per cent, in line with the guidance that was shared with investors. With regard to deposits, the bank has recorded a growth of 6.2 per cent, he said. "So, we have grown in line with industry and even during difficult days it was business as usual. With all this negativity which was created in the environment, the customers' confidence was not lost and the credit goes to 70,000 employees who stood with me in difficult time. "They have gone the extra mile, they have done extra hard work to see that every customer is attended to properly. Now, we are in the bounce back mode," he said. "It is now clear that it was a standalone incident in one of our 7,000 branches because of connivance with some of the staff of the branch. We have learned lessons from it. Whenever a problem comes, it gives an opportunity to strengthen our existing systems and processes. We have improved every system and process with more emphasis on offline monitoring," he said. Citing an example, Mehta said the bank is going to reform the credit processes by dividing it into four verticals -- sourcing, processing, monitoring and recovery. All these will be a separate compartment so that the risk is mitigated. Besides, he said, the bank has launched 'Mission Parivartan' to realign all business processes to meet present day requirements. "We decided to deploy technology. We had strengthened our back office for foreign exchange dealings, now we are going to expand it to cover 100 per cent activities in forex-related areas. We started with integrating SWIFT with the core banking solution and we will be able to complete the process before April 30," he said. On internal audit, he said besides physical audit, there will be offline monitoring too for which the bank is creating a separate cell which will do offsite monitoring of all exceptional transaction reports.

Worst behind us, will be out of Nirav Modi mess in 6 months: PNB MD

Scam-hit Punjab National Bank(PNB) today said it will honour the controversial Letters of Undertaking(LoU) amounting to Rs 6,500 crore issued fraudulently to seven lenders in the Nirav Modi scam.

Diamond businessman Nirav Modi had connived with PNB officials to get a number of LoUs made in his favour. PNB said it will also honour all subsequent maturing LoUs and FLCs as and when they are due.

A Mumbai branch of PNB had issued as many as 1,590 LoUs fraudulently for the group of companies belonging to Nirav Modi since March 2011. The Rs 13,900 crore scam is being investigated by top officials in the Enforcement Directorate even as the kingpins Nirav Modi and Mehul Chowksi still remain out of reach having fled abroad.

"This will lead to settling of LoUs worth Rs 6,500 crore with 7 banks in relation to the recent fraud that was reported by the bank," PNB said.

The bank also informed that the first phase of SWIFT integration with CBS will become operational from the first working day of the new financial year for the bank, April 3 2018.&nbsp

The SWIFT system was repeatedly used by PNB officials involved in the scam to move money into Nirav Modi's business accounts.

"This decision of the board sends out a strong message that PNB takes its obligations seriously but does it in a manner that is compliant with the law," bank chairman Sunil Mehta said.

Meanwhile, a close associate of Nirav Modi Shyam Sunder Wadhwa was arrested by the Enforcement Directorate in a money laundering case under PMLA.

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

Scam-hit Punjab National Bank(PNB) today said it will honour the controversial Letters of Undertaking(LoU) amounting to Rs 6,500 crore issued fraudulently to seven lenders in the Nirav Modi scam. Diamond businessman Nirav Modi had connived with PNB officials to get a number of LoUs made in his favour. PNB said it will also honour all subsequent maturing LoUs and FLCs as and when they are due. A Mumbai branch of PNB had issued as many as 1,590 LoUs fraudulently for the group of companies belonging to Nirav Modi since March 2011. The Rs 13,900 crore scam is being investigated by top officials in the Enforcement Directorate even as the kingpins Nirav Modi and Mehul Chowksi still remain out of reach having fled abroad. "This will lead to settling of LoUs worth Rs 6,500 crore with 7 banks in relation to the recent fraud that was reported by the bank," PNB said. The bank also informed that the first phase of SWIFT integration with CBS will become operational from the first working day of the new financial year for the bank, April 3 2018. The SWIFT system was repeatedly used by PNB officials involved in the scam to move money into Nirav Modi's business accounts. "This decision of the board sends out a strong message that PNB takes its obligations seriously but does it in a manner that is compliant with the law," bank chairman Sunil Mehta said. Meanwhile, a close associate of Nirav Modi Shyam Sunder Wadhwa was arrested by the Enforcement Directorate in a money laundering case under PMLA.

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

A close associate of Nirav Modi and a top official of his firm Shyam Sunder Wadhwa has been arrested by the Enforcement Directorate in a money laundering case under PMLA.

Shyam Sunder Wadhwa, vice president of Firestar Group was arrested, the agency said.

Nirav Modi is key accused in Rs. 14,500 crore Punjab National Bank scam.

Last month, the ED had attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore in action against the beleaguered jeweller.&nbsp

The properties sealed included 10 offices, including two in Lower Parel worth around Rs 80 crore, six houses and two flats in Pune, all of which are registered in Nirav Modi’s name, in the name of his family members or companies or the Nirav Modi Trust.

Modi and Choksi and others are being investigated by multiple probe agencies after the PNB scam came to light following a complaint by the bank that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore but the amount involved was later revised to Rs 13,900 crore as more such transactions came to light.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI first information report.

ED arrested Shyam Sunder Wadhwa, Vice President, Finance, of Firestar Group and a close associate of absconding diamantaire Nirav Modi under PMLA

A close associate of Nirav Modi and a top official of his firm Shyam Sunder Wadhwa has been arrested by the Enforcement Directorate in a money laundering case under PMLA. Shyam Sunder Wadhwa, vice president of Firestar Group was arrested, the agency said. Nirav Modi is key accused in Rs. 14,500 crore Punjab National Bank scam. Last month, the ED had attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore in action against the beleaguered jeweller. The properties sealed included 10 offices, including two in Lower Parel worth around Rs 80 crore, six houses and two flats in Pune, all of which are registered in Nirav Modi’s name, in the name of his family members or companies or the Nirav Modi Trust. Modi and Choksi and others are being investigated by multiple probe agencies after the PNB scam came to light following a complaint by the bank that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore but the amount involved was later revised to Rs 13,900 crore as more such transactions came to light. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI first information report.

PNB scam:  ED arrests Shyam Sunder Wadhwa, close associate of Nirav Modi

The Punjab National Bank (PNB) refused to provide information to an RTI query about Nirav Modi, the prime accused in the multi-crore PNB scam.

In an RTI, activist Anil Galgali sought information on the total amount of loan, the procedure applied for sanction of the loans, and the resolution in the Board of Directors of the bank in which the loan was approved.

In a response to the query, Deputy General Manager and Central Public Relation Officer, Joy Roy, informed Galgali that the case is deriving exemption from disclosure under Section 8 (1) (h) of the Right to Information Act.

Galgali had sought information from the bank about the total quantum of loan extended to Nirav Modi and the details of the Board of directors meetings such as its agenda, proposal, approvals and the minutes of the meeting in which the loan proposals were sanctioned.

According to the bank, Section 8 (1) (h) refuses the providing of information which impedes the process of investigation, apprehension or prosecution of offenders.

Galgali had filed the first appeal as per the procedures of RTI Act.

Galgali in his appeal said it is important to expose the officers who failed in their duty to safeguard the public money from being siphoned off, hence the details of the Board meeting of the PNB is important, the details like the agenda of the meeting, resolution adopted in the meeting for sanction and the minutes of the meeting will help to expose such officers.

It said the cooperating officers were equally responsible along with Nirav Modi in conducting the scam.

"Once such information is made public and the officers punished, the bank authorities will work with the responsibility to safeguard the public deposits and adopt proper measure while approving loan applications," Galgali said.

The more than Rs 15,000 crore-scam has rattled the country and its economy, with the banks tightening their grip over sanctioning of loans and laws for prevention of such incidents in future.

In an RTI, activist Anil Galgali sought information on the total amount of loan, the procedure applied for sanction of the loans, and the resolution in the Board of Directors of the bank in which the loan was approved

The Punjab National Bank (PNB) refused to provide information to an RTI query about Nirav Modi, the prime accused in the multi-crore PNB scam. In an RTI, activist Anil Galgali sought information on the total amount of loan, the procedure applied for sanction of the loans, and the resolution in the Board of Directors of the bank in which the loan was approved. In a response to the query, Deputy General Manager and Central Public Relation Officer, Joy Roy, informed Galgali that the case is deriving exemption from disclosure under Section 8 (1) (h) of the Right to Information Act. Galgali had sought information from the bank about the total quantum of loan extended to Nirav Modi and the details of the Board of directors meetings such as its agenda, proposal, approvals and the minutes of the meeting in which the loan proposals were sanctioned. According to the bank, Section 8 (1) (h) refuses the providing of information which impedes the process of investigation, apprehension or prosecution of offenders. Galgali had filed the first appeal as per the procedures of RTI Act. Galgali in his appeal said it is important to expose the officers who failed in their duty to safeguard the public money from being siphoned off, hence the details of the Board meeting of the PNB is important, the details like the agenda of the meeting, resolution adopted in the meeting for sanction and the minutes of the meeting will help to expose such officers. It said the cooperating officers were equally responsible along with Nirav Modi in conducting the scam. "Once such information is made public and the officers punished, the bank authorities will work with the responsibility to safeguard the public deposits and adopt proper measure while approving loan applications," Galgali said. The more than Rs 15,000 crore-scam has rattled the country and its economy, with the banks tightening their grip over sanctioning of loans and laws for prevention of such incidents in future.

Punjab National Bank refuses to reply to RTI on Nirav Modi

Gitanjali Gems Chairman and Managing Director Mehul Choksi, who is a co-accused in multi-crore Punjab National Bank (PNB) scam on Tuesday said that &#39;exaggerated allegations by multiple investigating agencies have left him completely defenceless and that he feared for his safety to return home.&#39;

&quot;I further inform that requiring me to join the investigation, though leaving me helpless and information less, by various actions taken by multiple agencies is unfair. The manner in which the allegations have been exaggerated has left me completely defenceless,&quot; he said in a statement.

Choksi further said he was unable to travel to India due to his persisting health condition.

&quot;I am extremely held up in my business abroad and am working hard to resolves the issues it is facing due to the unnecessary closure of the business in India due to untenable allegations. Further, I am unable to travel to India due to my persisting health condition,&quot; Choksi said.

Hitting out at media, he said it was blowing every issue out of proportion.

&quot;I reiterate that I am abroad and have earlier also responded to your notices. Surprisingly, the issues raised remain unaddressed, making my fear of safety rise to extreme levels. Media continues to conduct a trial by itself and blow every issue out of proportion,&quot; he stated.

Clarifying that he was not making any excuse to travel to India, Choksi claimed that his passport is suspended.

&quot;Regional Passport Office (RPO) has not communicated with me and my passport remains suspended. I have the deepest respect for your offices and assure you that I am not making any excuse, whatsoever to travel to India,&quot; he added.

According to the sources in the Ministry of External Affairs (MEA), the passports of Choksi and diamantaire Nirav Modi, his nephew, has been revoked, as they have failed to respond to the MEA&#39;s show cause notice.

Modi and Choksi, who had acquired letter of undertakings (LoUs) to avail credit from various sources, are wanted in India for their alleged involvement in syphoning off money from the Punjab National Bank (PNB) to the tune of more than US $ 1.8 billion.

The scam, allegedly started in 2011, was unearthed last month, after which the PNB officials reported it to the concerned agencies.&nbsp;

Modi and Choksi are wanted in India for their alleged involvement in syphoning off money from the Punjab National Bank

Gitanjali Gems Chairman and Managing Director Mehul Choksi, who is a co-accused in multi-crore Punjab National Bank (PNB) scam on Tuesday said that 'exaggerated allegations by multiple investigating agencies have left him completely defenceless and that he feared for his safety to return home.' "I further inform that requiring me to join the investigation, though leaving me helpless and information less, by various actions taken by multiple agencies is unfair. The manner in which the allegations have been exaggerated has left me completely defenceless," he said in a statement. Choksi further said he was unable to travel to India due to his persisting health condition. "I am extremely held up in my business abroad and am working hard to resolves the issues it is facing due to the unnecessary closure of the business in India due to untenable allegations. Further, I am unable to travel to India due to my persisting health condition," Choksi said. Hitting out at media, he said it was blowing every issue out of proportion. "I reiterate that I am abroad and have earlier also responded to your notices. Surprisingly, the issues raised remain unaddressed, making my fear of safety rise to extreme levels. Media continues to conduct a trial by itself and blow every issue out of proportion," he stated. Clarifying that he was not making any excuse to travel to India, Choksi claimed that his passport is suspended. "Regional Passport Office (RPO) has not communicated with me and my passport remains suspended. I have the deepest respect for your offices and assure you that I am not making any excuse, whatsoever to travel to India," he added. According to the sources in the Ministry of External Affairs (MEA), the passports of Choksi and diamantaire Nirav Modi, his nephew, has been revoked, as they have failed to respond to the MEA's show cause notice. Modi and Choksi, who had acquired letter of undertakings (LoUs) to avail credit from various sources, are wanted in India for their alleged involvement in syphoning off money from the Punjab National Bank (PNB) to the tune of more than US $ 1.8 billion. The scam, allegedly started in 2011, was unearthed last month, after which the PNB officials reported it to the concerned agencies.

Exaggerated allegations left me defenceless: Mehul Choksi

Fugitive diamond merchant Mehul Choksi has written to the CBI in reply to the notice the investigating agency had sent him.&nbsp;

In his reply, Choksi has said he is &quot;not making any excuse whatsoever to travel to India&quot;.&nbsp;

The CBI had earlier said that Choksi and his nephew Nirav Modi, who has become the face of the Rs 14,000 crore PNB scam, are refusing to cooperate with it in its investigation into the scam.&nbsp;

&quot;Regional Passport Office hasn&#39;t communicated with me and my passport remains suspended. I have deepest respect for your offices and assure you that I am not making any excuse, whatsoever, to travel to India,&quot; Choksi wrote to the CBI.&nbsp;&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
I reiterate that I am abroad &amp; have earlier also responded to your notices. Surprisingly, the issues raised remain unaddressed, making my fear of safety rise to extreme levels. Media continues to conduct a trial by itself &amp; blow every issue out of proportion: <a href="https://twitter.com/hashtag/MehulChoksi?src=hash&amp;ref_src=twsrc%5Etfw">#MehulChoksi</a> to CBI
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975943998203420672?ref_src=twsrc%5Etfw">March 20, 2018</a></blockquote>
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&quot;I further inform that requiring me to join investigation, though leaving me helpless and information-less, by various actions taken by multiple agencies is unfair. The manner in which the allegations have been exaggerated has left me completely defenceless,&quot; he added.&nbsp;

He did however also add that he will not yet be travelling to India.&nbsp;

&quot;I am extremely held up in my business abroad and am working hard to resolves the issues it is facing due to the unnecessary closure of business in India due to untenable allegations. Further I am unable to travel to India due to my persisting health condition,&quot; he added.&nbsp;

 
&nbsp;

The fugitive diamond merchant however added that he will not yet be travelling to India

Fugitive diamond merchant Mehul Choksi has written to the CBI in reply to the notice the investigating agency had sent him. In his reply, Choksi has said he is "not making any excuse whatsoever to travel to India". The CBI had earlier said that Choksi and his nephew Nirav Modi, who has become the face of the Rs 14,000 crore PNB scam, are refusing to cooperate with it in its investigation into the scam. "Regional Passport Office hasn't communicated with me and my passport remains suspended. I have deepest respect for your offices and assure you that I am not making any excuse, whatsoever, to travel to India," Choksi wrote to the CBI. I reiterate that I am abroad & have earlier also responded to your notices. Surprisingly, the issues raised remain unaddressed, making my fear of safety rise to extreme levels. Media continues to conduct a trial by itself & blow every issue out of proportion: #MehulChoksi to CBI — ANI (@ANI) March 20, 2018 × "I further inform that requiring me to join investigation, though leaving me helpless and information-less, by various actions taken by multiple agencies is unfair. The manner in which the allegations have been exaggerated has left me completely defenceless," he added. He did however also add that he will not yet be travelling to India. "I am extremely held up in my business abroad and am working hard to resolves the issues it is facing due to the unnecessary closure of business in India due to untenable allegations. Further I am unable to travel to India due to my persisting health condition," he added.

Not making any excuse whatsoever to travel to India: Mehul Choksi to CBI

The&nbsp;Central Bureau of Investigation(CBI) has chargesheeted&nbsp;Canara Bank ex-CMD R K Dubey who was the executive director&nbsp;in Rs 68 crore alleged loan default by the&nbsp;company.&nbsp;

The CBI had earlier arrested Shibaji Panja and Kaustubh Roy who were the directors of RP Infosystems which allegedly defrauded 17 banks including Canara Bank.

Canara Bank had filed a case against loan frauds. The issue came up after the PNB scam in which Nirav Modi allegedly had a 70 crore exposure to RP system.

According to PTI, the CBI has filed chargesheet in the Tis Hazari Court against Dubey, the then Executive Directors (Ashok Kumar Gupta and VS Krishna Kumar), and two directors of the Occasional Silver Company Ltd (Kapil Gupta and Raj Kumar Gupta).

The CBI has alleged that Guptas knew Dubey and used the connection in getting loans.

It is alleged that the CBI had SMS messages from the CMD directing subordinate officers to favour the in disbursing the loan, PTI reported.

The loans were disbursed within three months of being sanctioned in December 2013, CBI said.

The loans became Non-Performing Assets(NPAs) in September, 2014 within few months of being disbursed, the&nbsp;CBI alleged.

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

The Central Bureau of Investigation(CBI) has chargesheeted Canara Bank ex-CMD R K Dubey who was the executive director in Rs 68 crore alleged loan default by the company. The CBI had earlier arrested Shibaji Panja and Kaustubh Roy who were the directors of RP Infosystems which allegedly defrauded 17 banks including Canara Bank. Canara Bank had filed a case against loan frauds. The issue came up after the PNB scam in which Nirav Modi allegedly had a 70 crore exposure to RP system. According to PTI, the CBI has filed chargesheet in the Tis Hazari Court against Dubey, the then Executive Directors (Ashok Kumar Gupta and VS Krishna Kumar), and two directors of the Occasional Silver Company Ltd (Kapil Gupta and Raj Kumar Gupta). The CBI has alleged that Guptas knew Dubey and used the connection in getting loans. It is alleged that the CBI had SMS messages from the CMD directing subordinate officers to favour the in disbursing the loan, PTI reported. The loans were disbursed within three months of being sanctioned in December 2013, CBI said. The loans became Non-Performing Assets(NPAs) in September, 2014 within few months of being disbursed, the CBI alleged.

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

Nirav Modi, facing a probe in the Rs 11,000 crore Punjab National Bank (PNB) fraud case, is &quot;indirectly&quot; challenging the money laundering case lodged in connection with the scam, the Enforcement Directorate (ED) told the Delhi High Court today.

The submission that Nirav Modi was &quot;indirectly&quot; challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta.

Additional Solicitor General Sandeep Sethi, representing the ED, said Modi, who has been absconding, was trying to abuse the process of law by moving the plea through his company. Firestar Diamond International Private Ltd, which is named as one of the accused in the money laundering case, has sought an interim stay of the ED proceedings in the matter.

The ED, in its affidavit filed through central government standing counsel Amit Mahajan, has contended that the application for interim orders was &quot;not maintainable&quot; as it was &quot;premature&quot; and &quot;misconceived&quot;.

It has also said that &quot;grave miscarriage of justice&quot; will be caused to its probe, which is at a nascent stage if the company&#39;s plea for stay of further proceedings is granted. &quot;The entire purpose of the application is apparently to hinder the investigation,&quot; the ED said.

&quot;Nirav Modi is the director of the petitioner company since incorporation and is signatory to the memorandum and articles of the petitioner. He has not joined investigation pursuant to summons issued by the ED or even by the CBI.

His communication has expressed that he does not intend to join investigation.

&quot;He is a fugitive and absconder. Such a person who is evading the law and has declined to submit to the jurisdiction of the agencies is disentitled to invoke the extraordinary jurisdiction under Article 226 of the Constitution. On this ground alone, the petition deserves to be dismissed,&quot; the ED affidavit said.

The company&#39;s plea was misconceived and premature, the ED said, adding it was presented at the stage of search and seizure as well as retention of records and was not taking possession of attached or frozen properties as apprehended by Firestar.

The ED in its affidavit has also claimed that based on information received and its preliminary investigation, it has reasons to believe that the Firestar group, under the control and chairmanship of Modi, &quot;had committed acts which constitute the offence of money laundering and/ or was in possession of such proceeds of crime&quot;.

Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR.

Over Rs 11,384 crore worth of Letters of Understanding and Letters of Credit were issued by the bank in favour of jewellers Modi and Choksi through SWIFT messages with only smaller sums being entered in the core banking solutions system, the agencies allege.

The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

&quot;Quash the ED action of taking away the movable property and depositing the same with the PNB bank,&quot; the company has said in its plea and added that the agency be directed to supply copy of the Enforcement Case Information

Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises.

It has also sought framing of guidelines for conducting search and seizure by the ED, including on the aspect of whether the victim can be permitted to be a part of the process in order to ensure fair and transparent functioning of the agency.

The submission that Nirav Modi was indirectly challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta

Nirav Modi, facing a probe in the Rs 11,000 crore Punjab National Bank (PNB) fraud case, is "indirectly" challenging the money laundering case lodged in connection with the scam, the Enforcement Directorate (ED) told the Delhi High Court today. The submission that Nirav Modi was "indirectly" challenging the case through his company Firestar Diamonds, was made by the ED before a bench of Justices S Muralidhar and I S Mehta. Additional Solicitor General Sandeep Sethi, representing the ED, said Modi, who has been absconding, was trying to abuse the process of law by moving the plea through his company. Firestar Diamond International Private Ltd, which is named as one of the accused in the money laundering case, has sought an interim stay of the ED proceedings in the matter. The ED, in its affidavit filed through central government standing counsel Amit Mahajan, has contended that the application for interim orders was "not maintainable" as it was "premature" and "misconceived". It has also said that "grave miscarriage of justice" will be caused to its probe, which is at a nascent stage if the company's plea for stay of further proceedings is granted. "The entire purpose of the application is apparently to hinder the investigation," the ED said. "Nirav Modi is the director of the petitioner company since incorporation and is signatory to the memorandum and articles of the petitioner. He has not joined investigation pursuant to summons issued by the ED or even by the CBI. His communication has expressed that he does not intend to join investigation. "He is a fugitive and absconder. Such a person who is evading the law and has declined to submit to the jurisdiction of the agencies is disentitled to invoke the extraordinary jurisdiction under Article 226 of the Constitution. On this ground alone, the petition deserves to be dismissed," the ED affidavit said. The company's plea was misconceived and premature, the ED said, adding it was presented at the stage of search and seizure as well as retention of records and was not taking possession of attached or frozen properties as apprehended by Firestar. The ED in its affidavit has also claimed that based on information received and its preliminary investigation, it has reasons to believe that the Firestar group, under the control and chairmanship of Modi, "had committed acts which constitute the offence of money laundering and/ or was in possession of such proceeds of crime". Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR. Over Rs 11,384 crore worth of Letters of Understanding and Letters of Credit were issued by the bank in favour of jewellers Modi and Choksi through SWIFT messages with only smaller sums being entered in the core banking solutions system, the agencies allege. The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company. "Quash the ED action of taking away the movable property and depositing the same with the PNB bank," the company has said in its plea and added that the agency be directed to supply copy of the Enforcement Case Information Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises. It has also sought framing of guidelines for conducting search and seizure by the ED, including on the aspect of whether the victim can be permitted to be a part of the process in order to ensure fair and transparent functioning of the agency.

Nirav Modi 'indirectly' challenges PMLA case through Firestar Diamonds

The Enforcement Directorate (ED) today provisinally attached a power plant and 134 acres of land belonging to billionaire jeweller Nirav Modi, key accused in the over&nbsp;Rs 13,000 crore Punjab National Bank (PNB) scam.

The profits emanating from the solar power plant will go to the government coffers.

The ED, which has provisionally attached the land, and can attach the land only after the adjudicating authority confirms the attachment of the land.

The attachment can take upto six months to be confirmed. Till then, the ED cannot take any legal step.

Farmers had also tried to capture the 134 acres of land, alleging that Nirav Modi had bought the land at a low price.

Last month, the ED attached 21 properties of the Nirav Modi group, including flats and farmhouses, worth over Rs 523 crore.

The Central Bureau of Investigation (CBI) has alleged that the firms controlled by Nirav Modi and his uncle Mehul Choksi had obtained <a href="http://www.wionews.com/india-news/pnb-scam-fallout-rbi-discontinues-letters-of-undertaking-35694">fraudulent letters of understanding</a> (LoUs) and letters of credit (LCs), worth over 13,000 crore from the PNB in connivance with some officials of the bank.

The profits emanating from the solar power plant will go in the government coffers

The Enforcement Directorate (ED) today provisinally attached a power plant and 134 acres of land belonging to billionaire jeweller Nirav Modi, key accused in the over Rs 13,000 crore Punjab National Bank (PNB) scam. The profits emanating from the solar power plant will go to the government coffers. The ED, which has provisionally attached the land, and can attach the land only after the adjudicating authority confirms the attachment of the land. The attachment can take upto six months to be confirmed. Till then, the ED cannot take any legal step. Farmers had also tried to capture the 134 acres of land, alleging that Nirav Modi had bought the land at a low price. Last month, the ED attached 21 properties of the Nirav Modi group, including flats and farmhouses, worth over Rs 523 crore. The Central Bureau of Investigation (CBI) has alleged that the firms controlled by Nirav Modi and his uncle Mehul Choksi had obtained fraudulent letters of understanding (LoUs) and letters of credit (LCs), worth over 13,000 crore from the PNB in connivance with some officials of the bank.

PNB scam: ED attaches  134-acre Nirav Modi solar power plant

Addressing&nbsp;the Holi Milan Samaroh in Lucknow on Saturday&nbsp;Home Minister Rajnath Singh asked the opposition about who sanctioned loans to fugitives Vijay Mallya, Nirav Modi and others.&nbsp;

He said, &quot;the Modi government was blamed for the recent revelations of bank fraud that unearthed Nirav Modi, Vijay Mallya and others. However, I would want to ask that who had sanctioned them loans in the first place&quot;.

He also highlighted at the Fugitive Economic Offenders Bill that was recently introduced&nbsp;in the Parliament earlier this month.

He said,&quot;&nbsp;Our government prepared the Fugitive Economic Offenders Bill for this and it has already been introduced in the parliament&quot;

He added that through the bill the government will seize the property of economic offenders who flee abroad.

Fugitive Economic Offenders Bill 2018 was proposed to confiscate the assets of a fugitive, including Benami assets.&nbsp;

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Bank fraud ke kuch maamle aa rahe hain. To kehna shuru kiya ki saab ye 2-3 log jo bahar chale gaye hain- Mallya, Nirav Modi aur kaun-kaun, BJP ki sarkaar ne inko bhagwa diya hai. Main puchna chahta hoon, inko jo paisa mila wo kahan se mila? Kisne dilwaya?: Rajnath Singh <a href="https://t.co/BmzcwuO1yW">pic.twitter.com/BmzcwuO1yW</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975195597253828609?ref_src=twsrc%5Etfw">March 18, 2018</a></blockquote>
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Our Govt prepared the Fugitive Economic Offenders Bill for this and it has already been introduced in the parliament, this bill means economic offenders who flee abroad, their property can be seized by the Govt: Rajnath Singh <a href="https://t.co/sWw193Ohn4">pic.twitter.com/sWw193Ohn4</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975195600290533376?ref_src=twsrc%5Etfw">March 18, 2018</a></blockquote>
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Rajnath Singh said, 'the Modi government was blamed for the recent revelations of bank fraud that unearthed Nirav Modi, Vijay Mallya and others. However, I would want to ask that who had sanctioned them loans in the first place'

Addressing the Holi Milan Samaroh in Lucknow on Saturday Home Minister Rajnath Singh asked the opposition about who sanctioned loans to fugitives Vijay Mallya, Nirav Modi and others. He said, "the Modi government was blamed for the recent revelations of bank fraud that unearthed Nirav Modi, Vijay Mallya and others. However, I would want to ask that who had sanctioned them loans in the first place". He also highlighted at the Fugitive Economic Offenders Bill that was recently introduced in the Parliament earlier this month. He said," Our government prepared the Fugitive Economic Offenders Bill for this and it has already been introduced in the parliament" He added that through the bill the government will seize the property of economic offenders who flee abroad. Fugitive Economic Offenders Bill 2018 was proposed to confiscate the assets of a fugitive, including Benami assets. Bank fraud ke kuch maamle aa rahe hain. To kehna shuru kiya ki saab ye 2-3 log jo bahar chale gaye hain- Mallya, Nirav Modi aur kaun-kaun, BJP ki sarkaar ne inko bhagwa diya hai. Main puchna chahta hoon, inko jo paisa mila wo kahan se mila? Kisne dilwaya?: Rajnath Singh pic.twitter.com/BmzcwuO1yW — ANI (@ANI) March 18, 2018 × Our Govt prepared the Fugitive Economic Offenders Bill for this and it has already been introduced in the parliament, this bill means economic offenders who flee abroad, their property can be seized by the Govt: Rajnath Singh pic.twitter.com/sWw193Ohn4 — ANI (@ANI) March 18, 2018 ×

Who sanctioned loans to Nirav Modi, Vijay Mallya in first place: Rajnath Singh

Punjab National Bank(PNB) <a href="http://www.wionews.com/india-news/pnb-scam-fallout-rbi-discontinues-letters-of-undertaking-35694">has detected another </a>fraud at the&nbsp;Brady House branch in Mumbai, according to the CBI.&nbsp;The fraud was<a href="http://www.wionews.com/india-news/scams-happen-due-to-loopholes-in-the-system-bank-officers-body-33865">&nbsp;committed at</a> the same branch in Mumbai where Nirav Modi&#39;s multi-crore scam was unearthed last month.

The CBI has registered a fresh case relating to the &quot;fraudulent&quot; issuance of Rs 9 crore of LoUs to Chandri Papers and Allied Products by PNB&#39;s Brady House branch, at the centre of a storm over a similar fraud by billionaire jewellers Nirav Modi and Mehul Choksi.

Retired PNB employee Gokulnath Shetty and single-window operator at the branch, Manoj Kharat, who are facing CBI probe in the Modi-Choksi case, have been booked by the agency in the fresh FIR registered by it, the officials said.

The agency has also named the company and its directors as accused in the case, officials quoted PTI as saying.

After filing the FIR on March 9, the agency carried out searches at various locations, sources told PTI.

The CBI has alleged that Shetty retired on May 31, 2017, and Kharat entered into criminal conspiracy with directors of the company Aditya Rasiwasia and Ishwardas Agarwal.

The agency has alleged that as part of the conspiracy to defraud the public sector bank, they got issued two Letters of Undertaking (LoUs) for $1.4 million (about Rs 9.09 crore at the rate of Rs 64 per dollar) favouring SBI Antwerp, Belgium, they said.

The due date of payment for the LoUs was January 20, 2020.

The fraud is alleged to <a href="http://www.wionews.com/india-news/scams-happen-due-to-loopholes-in-the-system-bank-officers-body-33865">have been committed at</a> the same branch in Mumbai where Nirav Modi&#39;s multi-crore scam was unearthed last month.

The fraud amounts to over 9 crores($1.36 million)&nbsp;of a company named Chandri Paper and Allied Products Pvt Ltd, CBI said.

Recently, the RBI had banned commercial banks from issuing Letters of Undertaking (LoUs) and and Letters of Comfort (LoCs) for trade finance as it was seen as a major loophole behind the PNB scam.

PNB had reported the fraudulent issuance of LoUs/Foreign Letters of Credit for payment of import bills and fraudulent transactions in accounts, amounting to Rs 12,967.86 crore.

Indian authorities have been trailing Nirav Modi and Mehul Chowksi ever since the scam was detected, however, their exact whereabouts are still unknown even though the CBI has sent notices through Interpol and IT officials.

A PNB spokesman had no immediate comment.

Punjab National Bank(PNB) has detected another fraud at the Brady House branch in Mumbai, according to the CBI. The fraud was committed at the same branch in Mumbai where Nirav Modi's multi-crore scam was unearthed last month. The CBI has registered a fresh case relating to the "fraudulent" issuance of Rs 9 crore of LoUs to Chandri Papers and Allied Products by PNB's Brady House branch, at the centre of a storm over a similar fraud by billionaire jewellers Nirav Modi and Mehul Choksi. Retired PNB employee Gokulnath Shetty and single-window operator at the branch, Manoj Kharat, who are facing CBI probe in the Modi-Choksi case, have been booked by the agency in the fresh FIR registered by it, the officials said. The agency has also named the company and its directors as accused in the case, officials quoted PTI as saying. After filing the FIR on March 9, the agency carried out searches at various locations, sources told PTI. The CBI has alleged that Shetty retired on May 31, 2017, and Kharat entered into criminal conspiracy with directors of the company Aditya Rasiwasia and Ishwardas Agarwal. The agency has alleged that as part of the conspiracy to defraud the public sector bank, they got issued two Letters of Undertaking (LoUs) for $1.4 million (about Rs 9.09 crore at the rate of Rs 64 per dollar) favouring SBI Antwerp, Belgium, they said. The due date of payment for the LoUs was January 20, 2020. The fraud is alleged to have been committed at the same branch in Mumbai where Nirav Modi's multi-crore scam was unearthed last month. The fraud amounts to over 9 crores($1.36 million) of a company named Chandri Paper and Allied Products Pvt Ltd, CBI said. Recently, the RBI had banned commercial banks from issuing Letters of Undertaking (LoUs) and and Letters of Comfort (LoCs) for trade finance as it was seen as a major loophole behind the PNB scam. PNB had reported the fraudulent issuance of LoUs/Foreign Letters of Credit for payment of import bills and fraudulent transactions in accounts, amounting to Rs 12,967.86 crore. Indian authorities have been trailing Nirav Modi and Mehul Chowksi ever since the scam was detected, however, their exact whereabouts are still unknown even though the CBI has sent notices through Interpol and IT officials.

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

Billionaire jeweller Nirav Modi obtained his first fraudulent guarantee from PNB&#39;s Brady House branch in Mumbai on March 10, 2011, and managed to get 1,212 more such guarantees over the next 74 months, Finance Minister Arun Jaitley said today.

Companies linked to Nirav Modi obtained Letters of Undertaking or LoUs, which were used to get loans from overseas branches of Indian banks, up to five guarantees on a single day, with the help of rogue employees of the country&#39;s second-biggest state-run bank.

Mr Jaitley said the last fraudulent LoU was issued on May 23, 2017. During these six years, 53 genuine (non-fraudulent) LoUs were also issued to Nirav Modi Group - the first being on March 5, 2011, and last on November 6, 2017, he said.

The fraudulent LoUs had a validity of up to one year.

Payments due in January this year were against LoU issued in February last year, he said, listing date-wise the LoUs issued.

Companies linked to Modi and his uncle Mehul Choksi defrauded PNB to the tune of Rs. 13,600 crore. Choksi&#39;s Gitanjali Group defrauded Rs. 7,080.86 crore while the rest is attributed to companies of Modi.

Mr Jaitley said, &quot;PNB Head Office received a report suspicious outstanding unauthorised transactions from Circle Office, Mumbai on January 23, 2018.&quot;

&quot;Immediately an investigating team was constituted which gave its preliminary report on January 25, 2018. On January 29, 2018 (January 26 to 28 being public holidays), fraud was reported to RBI and complaint lodged with CBI Mumbai,&quot; he said.

PNB informed the department of financial services, under Mr Jaitley, on February 6.

Companies linked to Modi and his uncle Mehul Choksi defrauded PNB to the tune of Rs. 13,600 crore.

Billionaire jeweller Nirav Modi obtained his first fraudulent guarantee from PNB's Brady House branch in Mumbai on March 10, 2011, and managed to get 1,212 more such guarantees over the next 74 months, Finance Minister Arun Jaitley said today. Companies linked to Nirav Modi obtained Letters of Undertaking or LoUs, which were used to get loans from overseas branches of Indian banks, up to five guarantees on a single day, with the help of rogue employees of the country's second-biggest state-run bank. Mr Jaitley said the last fraudulent LoU was issued on May 23, 2017. During these six years, 53 genuine (non-fraudulent) LoUs were also issued to Nirav Modi Group - the first being on March 5, 2011, and last on November 6, 2017, he said. The fraudulent LoUs had a validity of up to one year. Payments due in January this year were against LoU issued in February last year, he said, listing date-wise the LoUs issued. Companies linked to Modi and his uncle Mehul Choksi defrauded PNB to the tune of Rs. 13,600 crore. Choksi's Gitanjali Group defrauded Rs. 7,080.86 crore while the rest is attributed to companies of Modi. Mr Jaitley said, "PNB Head Office received a report suspicious outstanding unauthorised transactions from Circle Office, Mumbai on January 23, 2018." "Immediately an investigating team was constituted which gave its preliminary report on January 25, 2018. On January 29, 2018 (January 26 to 28 being public holidays), fraud was reported to RBI and complaint lodged with CBI Mumbai," he said. PNB informed the department of financial services, under Mr Jaitley, on February 6.

Nirav Modi got 1,213 fraudulent guarantees in six years: Arun Jaitley

The Central Bureau of Investigation has questioned Ravi Shankar Gupta, the Chief Financial Officer of Nirav Modi owned Fire Star Group&nbsp;on Monday.

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Ravi Shankar Gupta, CFO of Nirav Modi owned Fire Star Group being questioned by the CBI, in Mumbai, in connection with <a href="https://twitter.com/hashtag/PNBScam?src=hash&amp;ref_src=twsrc%5Etfw">#PNBScam</a> case.
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/973173260060946433?ref_src=twsrc%5Etfw">March 12, 2018</a></blockquote>
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The CBI had earlier filed a third FIR against Nirav Modi and officials of the&nbsp;firm Firestar Diamond including Ravi Shankar Gupta.

The FIR was filed after the Punjab National Bank filed a new complaint on March 4 claiming that it was cheated of Rs 321 crore in 2013-2017 due to the firm.

With the new FIR, the fraud amount in the Nirav Modi relating PNB scam has escalated to Rs 13,000 crore.&nbsp;

The CBI had earlier filed a third FIR in the PNB Scam. The scam was filed against Nirav Modi and officials of the firm Firestar Diamond including Ravi Shankar Gupta

The Central Bureau of Investigation has questioned Ravi Shankar Gupta, the Chief Financial Officer of Nirav Modi owned Fire Star Group on Monday. Ravi Shankar Gupta, CFO of Nirav Modi owned Fire Star Group being questioned by the CBI, in Mumbai, in connection with #PNBScam case. — ANI (@ANI) March 12, 2018 × The CBI had earlier filed a third FIR against Nirav Modi and officials of the firm Firestar Diamond including Ravi Shankar Gupta. The FIR was filed after the Punjab National Bank filed a new complaint on March 4 claiming that it was cheated of Rs 321 crore in 2013-2017 due to the firm. With the new FIR, the fraud amount in the Nirav Modi relating PNB scam has escalated to Rs 13,000 crore.

CBI questions Nirav Modi-owned Fire Star's CFO Ravi Shankar Gupta

Former Finance Minister P. Chidambaram on Sunday <a href="http://www.wionews.com/india-news/rahul-gandhi-takes-a-dig-at-pm-modi-over-jeweller-scam-33920" target="_blank">hit out at Prime Minister Modi </a>in connection to the Rs 11,400 crore PNB Scam by fugitive diamantaire Nirav Modi.&nbsp;

Chidambaram said, &quot;It&#39;s all happening in one sector-Jewelry. Key players seem to have come from one state-Gujarat. It&#39;s not happening across sectors and states. Obviously, people have been helped at some level. Who or how helped, I have no evidence&quot;.

&nbsp;PNB has accused Nirav Modi of defrauding the bank of over Rs 11,000 crores since 2011 with the help of bank officials who are under arrest now.

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It&#39;s all happening in one sector-Jewelry. Key players seem to have come from one state-Gujarat. It&#39;s not happening across sectors &amp; states. Obviously, people have been helped at some level. Who or how helped, I have no evidence: P Chidambaram in Bengaluru on <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a> &amp; <a href="https://twitter.com/hashtag/PNBScam?src=hash&amp;ref_src=twsrc%5Etfw">#PNBScam</a> <a href="https://t.co/1OKLK7sEdi">pic.twitter.com/1OKLK7sEdi</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/972802354486628352?ref_src=twsrc%5Etfw">March 11, 2018</a></blockquote>
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Also read:&nbsp;<a href="http://www.wionews.com/india-news/photographs-of-pm-modi-with-nirav-modi-prove-nothing-amit-shah-33510" target="_blank">Photographs of PM Modi with Nirav Modi prove nothing: Amit Shah</a>

Taking a jibe at the &quot;pakora&quot; comment made by PM Modi Chidambaram said the government was living in denial.&nbsp;

He said &quot;We should begin to ask hard questions. Unless more and more people ask questions to the present govt it will continue to live in denial. They know there is a dearth of jobs. They deem selling &#39;pakoras&#39; as jobs. That is like adding salt to wounds&quot;.

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In Gujarat they asked some hard questions. I think the next opportunity to ask questions is coming in Karnataka: P Chidambaram in Bengaluru <a href="https://t.co/yrEekmvXod">pic.twitter.com/yrEekmvXod</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/972797925217722368?ref_src=twsrc%5Etfw">March 11, 2018</a></blockquote>
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Chidambaram said, 'It's all happening in one sector-Jewelry. Key players seem to have come from one state-Gujarat. It's not happening across sectors and states. Obviously, people have been helped at some level. Who or how helped, I have no evidence'

Former Finance Minister P. Chidambaram on Sunday hit out at Prime Minister Modi in connection to the Rs 11,400 crore PNB Scam by fugitive diamantaire Nirav Modi. Chidambaram said, "It's all happening in one sector-Jewelry. Key players seem to have come from one state-Gujarat. It's not happening across sectors and states. Obviously, people have been helped at some level. Who or how helped, I have no evidence". PNB has accused Nirav Modi of defrauding the bank of over Rs 11,000 crores since 2011 with the help of bank officials who are under arrest now. It's all happening in one sector-Jewelry. Key players seem to have come from one state-Gujarat. It's not happening across sectors & states. Obviously, people have been helped at some level. Who or how helped, I have no evidence: P Chidambaram in Bengaluru on #NiravModi & #PNBScam pic.twitter.com/1OKLK7sEdi — ANI (@ANI) March 11, 2018 × Also read: Photographs of PM Modi with Nirav Modi prove nothing: Amit Shah Taking a jibe at the "pakora" comment made by PM Modi Chidambaram said the government was living in denial. He said "We should begin to ask hard questions. Unless more and more people ask questions to the present govt it will continue to live in denial. They know there is a dearth of jobs. They deem selling 'pakoras' as jobs. That is like adding salt to wounds". In Gujarat they asked some hard questions. I think the next opportunity to ask questions is coming in Karnataka: P Chidambaram in Bengaluru pic.twitter.com/yrEekmvXod — ANI (@ANI) March 11, 2018 ×

'It's all happening in one sector, from one state': Chidamabarm on Nirav Modi-PNB scam

F<a href="http://www.wionews.com/india-news/mehul-choksi-refuses-to-appear-in-front-of-cbi-on-health-grounds-35086" target="_blank">ugitive diamantaire Mehul Choksi </a>has refused to appear in front of the CBI.

He wrote them a letter, blaming health problems for his inability to travel.

Here is the full text of his letter to the investigating agency.&nbsp;

Dear Sir, 
Please refer to the notice in the captioned FIR, sent by you seeking my appearance before your good office on 07.03.2018 at 10.30 AM which has been received by me on my E-mail as I am travelling.

I wish to bring to your kind attention that your good self and your office is well aware that my passport has been suspended as the same was communicated to you vide my previous reply also.

As you have, in your letter dated 28.02.2018, have stated that &lsquo;it is not clear whether you have responded to the Notice of the Passport Authorities to their satisfaction for getting the suspension revoked.&rsquo;, I bring to your notice that on 16.02.2018, I received an email from the Passport Office which stated that my Passport has been suspended due to the reason &lsquo;Security Threat to India&rsquo;. On 28.02.2018, I sent an e-mail to the Regional Passport Office, Mumbai, requesting them to revoke the suspension of my Passport, however, I have not received any reply from the Regional Passport Office.

I want to assure your good office and good self that I am in no manner dictating the terms of my appearance. However, as my Passport stands suspended by the Regional Passport Office under Section 10(3)(c) of the Passport Act, it is impossible for me to travel back to India. I further wish to point out that the Regional Passport Office Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a Security Threat to India. This goes to show that my Passport has been suspended in a manner which violates my Constitutional Rights.

In my last communication to your good self, I had expressed my apprehension and concern for my family&rsquo;s and my safety. I further wish to bring to your attention that I am being threatened by individuals with whom I have a business relationship. As there has been a complete and sudden closure of business, my employees, customers, creditors etc have started to show their animosity towards me.

I am concerned about my health and well-being. In case I am arrested, then I would not be able to get proper health care and would be provided treatment only in a government hospital. I would be further denied treatment in a private hospital. Even though right to receive proper medical treatment is provided in the Constitution of India, however, in practicality a person accused of an offence who is behind prison is denied a doctor of his own choice.

Furthermore, the various Political Parties in India have been politicizing the issue with a view to glorify their own interests. The entire reports being published in newspapers, various statements made by members of various political parties and the trial by media has therefore left me remediless and therefore a bias has been caused against me.

The different media reports portray as if I have already been convicted by the Hon&rsquo;ble Courts of India. They have caused great prejudice to my fundamental rights enshrined by the Constitution of India. Right to life and right to fair trail are quintessential fundamental rights guaranteed by the Constitution. The various news reports and publications against me violate those rights. I have got a sense from the different reports and publication that there is great unfairness which is prevalent against me and I would not get a fair treatment and a fair trial. There is presumption of innocence in favour of every person until he is proved guilty. This fundamental principle has been ignored by the media which is evident from their various reports.

The media is conducting a trial by itself and is blowing each and every issue out of proportion and is exaggerating allegations and this has left me completely defenseless, especially as my Passport has been suspended, without due process.

Multiple investigating agencies are after my life and the Central Bureau of Investigation has seized my office servers and I have no record of my business dealings. I am further being deprived of my basic right to communicate and the seizure of my servers have effectively denied me my fundamental right to defend myself against the allegations that have been leveled against me. I wish to bring to your notice and attention that I have been rendered defenseless. All the documents that were lying in my offices have been seized by the Investigating Agencies. I have also not been supplied with any copies of those documents.

My properties, both moveable and immovable, have been seized and/or attached by multiple investigating agencies. The investigating agencies have sealed my existing showrooms and have further seized the stock which was lying in the showrooms and have termed the same as &ldquo;proceeds of crime&rdquo;. Despite these seizures, CBI has not placed on judicial record the Seizure Memo as per the provisions of the Code of Criminal Procedure.

The Investigating Agencies cannot in any way infringe the fundamental right to silence as enshrined under the Indian Constitution. It is well settled that an investigating agency cannot adopt measures to get information by unfair means and cannot force a person to accede to their requests in giving them the desired answers.

CBI in this matter has seized documents from various places during investigation in the matter. Even though under Section 102 CrPC the police officer has power to seize property which may be alleged or suspected to have been stolen, or which may be found under circumstances which create suspicion of the commission of any offence, the submission of a seizure report is a mandatory requirement of Section 102 CrPC. It is necessary that the requirement of Section 102 CrPC be complied with by CBI.

There has been a gross abuse of process of law by the Investigating Agencies. The seizure of my movable/immovable properties, bank accounts and shutting down of all my offices in India has caused prejudice against me. It is in the interest of justice that I be granted an opportunity to have a free and fair trial, however, the investigating agencies are acting with a pre-determined mind which is hampering the process of law and interfering with the course of justice.

It has been held by the Hon&rsquo;ble Supreme Court that an Investigating Officer must conduct a fair and proper investigation to bring out the real truth. It is imperative that the Investigating Officer must not act as Prosecution in order to have the accused convicted by the Hon&rsquo;ble Courts.

I am deeply affected by the media and Investigating Agencies as they have also roped in my family members with a view to prejudice me. The media and investigating agencies are aware that they can harass me if my family members can be connected to the cases filed against me.

I have been called a &lsquo;fugitive&rsquo; many a times and I would like to inform your good offices that I had travelled abroad for my business, prior to the registration of the captioned FIR and this is no manner can mean that my travel abroad was a direct result of the registration of the captioned FIR. Further, the searches conducted by the Enforcement Directorate are contrary to the provisions of the Prevention of Money Laundering Act and the Code of Criminal Procedure.

The unfairness of the investigation is apparent as my family members have been roped in without any justification and the moreover the allegations leveled against Mr. Nirav Modi are different.

The unfair manner in which the investigation is being carried out is evident from the fact that you good self had directed me to approach the Embassy for a temporary travel document, knowing fully well that under no provision of law, a direction can be issued to me to go to an Embassy.

I am suffering from extreme mental agony due to the above aspects raised. The notice has been issued directing me to appear on 07.03.2018 at 10:30 AM without even considering the above mentioned factors.

I am also not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same. The entire procedure could not be completed on all veins due to danger to kidney and therefore I am not allowed to travel for at least a period of four to six months.

I reiterate that I am continuing to work outside India and considering the difficulties my business has faced due to the unfairness of the investigating agencies, it is requested to your good self to communicate with me on mail ... (email deleted) or my Advocate ... (name and number of advocate deleted) in respect of any issues which you consider is needed to be addressed to me concerning the investigation.

 
Regards, 
Mehul Choksi

&nbsp;

&nbsp;

Citing health troubles, Choksi has said he cannot appear before the CBI for questioning

Fugitive diamantaire Mehul Choksi has refused to appear in front of the CBI. He wrote them a letter, blaming health problems for his inability to travel. Here is the full text of his letter to the investigating agency. Dear Sir, Please refer to the notice in the captioned FIR, sent by you seeking my appearance before your good office on 07.03.2018 at 10.30 AM which has been received by me on my E-mail as I am travelling. I wish to bring to your kind attention that your good self and your office is well aware that my passport has been suspended as the same was communicated to you vide my previous reply also. As you have, in your letter dated 28.02.2018, have stated that ‘it is not clear whether you have responded to the Notice of the Passport Authorities to their satisfaction for getting the suspension revoked.’, I bring to your notice that on 16.02.2018, I received an email from the Passport Office which stated that my Passport has been suspended due to the reason ‘Security Threat to India’. On 28.02.2018, I sent an e-mail to the Regional Passport Office, Mumbai, requesting them to revoke the suspension of my Passport, however, I have not received any reply from the Regional Passport Office. I want to assure your good office and good self that I am in no manner dictating the terms of my appearance. However, as my Passport stands suspended by the Regional Passport Office under Section 10(3)(c) of the Passport Act, it is impossible for me to travel back to India. I further wish to point out that the Regional Passport Office Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a Security Threat to India. This goes to show that my Passport has been suspended in a manner which violates my Constitutional Rights. In my last communication to your good self, I had expressed my apprehension and concern for my family’s and my safety. I further wish to bring to your attention that I am being threatened by individuals with whom I have a business relationship. As there has been a complete and sudden closure of business, my employees, customers, creditors etc have started to show their animosity towards me. I am concerned about my health and well-being. In case I am arrested, then I would not be able to get proper health care and would be provided treatment only in a government hospital. I would be further denied treatment in a private hospital. Even though right to receive proper medical treatment is provided in the Constitution of India, however, in practicality a person accused of an offence who is behind prison is denied a doctor of his own choice. Furthermore, the various Political Parties in India have been politicizing the issue with a view to glorify their own interests. The entire reports being published in newspapers, various statements made by members of various political parties and the trial by media has therefore left me remediless and therefore a bias has been caused against me. The different media reports portray as if I have already been convicted by the Hon’ble Courts of India. They have caused great prejudice to my fundamental rights enshrined by the Constitution of India. Right to life and right to fair trail are quintessential fundamental rights guaranteed by the Constitution. The various news reports and publications against me violate those rights. I have got a sense from the different reports and publication that there is great unfairness which is prevalent against me and I would not get a fair treatment and a fair trial. There is presumption of innocence in favour of every person until he is proved guilty. This fundamental principle has been ignored by the media which is evident from their various reports. The media is conducting a trial by itself and is blowing each and every issue out of proportion and is exaggerating allegations and this has left me completely defenseless, especially as my Passport has been suspended, without due process. Multiple investigating agencies are after my life and the Central Bureau of Investigation has seized my office servers and I have no record of my business dealings. I am further being deprived of my basic right to communicate and the seizure of my servers have effectively denied me my fundamental right to defend myself against the allegations that have been leveled against me. I wish to bring to your notice and attention that I have been rendered defenseless. All the documents that were lying in my offices have been seized by the Investigating Agencies. I have also not been supplied with any copies of those documents. My properties, both moveable and immovable, have been seized and/or attached by multiple investigating agencies. The investigating agencies have sealed my existing showrooms and have further seized the stock which was lying in the showrooms and have termed the same as “proceeds of crime”. Despite these seizures, CBI has not placed on judicial record the Seizure Memo as per the provisions of the Code of Criminal Procedure. The Investigating Agencies cannot in any way infringe the fundamental right to silence as enshrined under the Indian Constitution. It is well settled that an investigating agency cannot adopt measures to get information by unfair means and cannot force a person to accede to their requests in giving them the desired answers. CBI in this matter has seized documents from various places during investigation in the matter. Even though under Section 102 CrPC the police officer has power to seize property which may be alleged or suspected to have been stolen, or which may be found under circumstances which create suspicion of the commission of any offence, the submission of a seizure report is a mandatory requirement of Section 102 CrPC. It is necessary that the requirement of Section 102 CrPC be complied with by CBI. There has been a gross abuse of process of law by the Investigating Agencies. The seizure of my movable/immovable properties, bank accounts and shutting down of all my offices in India has caused prejudice against me. It is in the interest of justice that I be granted an opportunity to have a free and fair trial, however, the investigating agencies are acting with a pre-determined mind which is hampering the process of law and interfering with the course of justice. It has been held by the Hon’ble Supreme Court that an Investigating Officer must conduct a fair and proper investigation to bring out the real truth. It is imperative that the Investigating Officer must not act as Prosecution in order to have the accused convicted by the Hon’ble Courts. I am deeply affected by the media and Investigating Agencies as they have also roped in my family members with a view to prejudice me. The media and investigating agencies are aware that they can harass me if my family members can be connected to the cases filed against me. I have been called a ‘fugitive’ many a times and I would like to inform your good offices that I had travelled abroad for my business, prior to the registration of the captioned FIR and this is no manner can mean that my travel abroad was a direct result of the registration of the captioned FIR. Further, the searches conducted by the Enforcement Directorate are contrary to the provisions of the Prevention of Money Laundering Act and the Code of Criminal Procedure. The unfairness of the investigation is apparent as my family members have been roped in without any justification and the moreover the allegations leveled against Mr. Nirav Modi are different. The unfair manner in which the investigation is being carried out is evident from the fact that you good self had directed me to approach the Embassy for a temporary travel document, knowing fully well that under no provision of law, a direction can be issued to me to go to an Embassy. I am suffering from extreme mental agony due to the above aspects raised. The notice has been issued directing me to appear on 07.03.2018 at 10:30 AM without even considering the above mentioned factors. I am also not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same. The entire procedure could not be completed on all veins due to danger to kidney and therefore I am not allowed to travel for at least a period of four to six months. I reiterate that I am continuing to work outside India and considering the difficulties my business has faced due to the unfairness of the investigating agencies, it is requested to your good self to communicate with me on mail ... (email deleted) or my Advocate ... (name and number of advocate deleted) in respect of any issues which you consider is needed to be addressed to me concerning the investigation. Regards, Mehul Choksi

If arrested, will only get treatment in government hospital: Read full text of Mehul Choksi's letter to CBI

Fugitive diamantaire Mehul Choksi refused to appear in front of investigating agency Central Bureau of Investigation (CBI) on health grounds.

In a letter to CBI, he stated that he could not travel due to the health problem.&nbsp;

&#39;&#39;I&#39;m&nbsp;not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same,&#39;&#39; he stated in his written reply to the CBI.

<div class="ui-state-default" contenteditable="false">
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<a href="https://twitter.com/hashtag/PNBScam?src=hash&amp;ref_src=twsrc%5Etfw">#PNBScam</a> accused <a href="https://twitter.com/hashtag/MehulChoksi?src=hash&amp;ref_src=twsrc%5Etfw">#MehulChoksi</a>&#39;s reply to CBI: I am also not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same.
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/971642498480132097?ref_src=twsrc%5Etfw">March 8, 2018</a></blockquote>
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Choksi has also asked &#39;&#39;how he is a security threat to India&#39;&#39;.&nbsp;

&#39;&#39;As my Passport stands suspended. I further wish to point out that the RPO Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a security threat to India,&#39;&#39; he noted in his response.

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<a href="https://twitter.com/hashtag/PNBScam?src=hash&amp;ref_src=twsrc%5Etfw">#PNBScam</a> accused <a href="https://twitter.com/hashtag/MehulChoksi?src=hash&amp;ref_src=twsrc%5Etfw">#MehulChoksi</a>&#39;s reply to CBI: As my Passport stands suspended. I further wish to point out that the RPO Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a security threat to India.
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/971642495774818304?ref_src=twsrc%5Etfw">March 8, 2018</a></blockquote>
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Stating that various media reports have media of reports have tarnished his image, he said right to life and right to fair trial are quintessential&nbsp;fundamental rights guaranteed by the Constitution. &#39;&#39;The various news&nbsp;reports and&nbsp;publications against me violate those rights. I have got a&nbsp;sense from the different reports and publication that there is great&nbsp;unfairness which is prevalent against me and I would not get a fair&nbsp;treatment and a fair trial,&#39;&#39; he stated&nbsp;in his reply.

The media is conducting a trial by itself and is blowing each and&nbsp;every issue out of proportion and is exaggerating allegations and&nbsp;this has left me completely defenceless, especially as my Passport&nbsp;has been suspended, without due process, he noted.&nbsp;

&#39;I had expressed my&nbsp;apprehension for my family&rsquo;s and my safety. I wish to bring to your attention that I am being threatened by&nbsp;individuals with whom I have a business relationship.&nbsp;As there has been a complete and sudden closure of business, my employees,&nbsp;customers, creditors etc have started to show their animosity&nbsp;towards me,&#39;&#39; he stated in the letter.&nbsp;

He also said that he was concerned about his health and well-being and added that in case he was arrested, he would not be able to get proper health care and would be provided treatment only in a Government Hospital. &nbsp;

&nbsp;

 
&nbsp;

'I'm not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same,' Choksi said in his reply to the CBI

Fugitive diamantaire Mehul Choksi refused to appear in front of investigating agency Central Bureau of Investigation (CBI) on health grounds. In a letter to CBI, he stated that he could not travel due to the health problem. ''I'm not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same,'' he stated in his written reply to the CBI. #PNBScam accused #MehulChoksi's reply to CBI: I am also not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same. — ANI (@ANI) March 8, 2018 × Choksi has also asked ''how he is a security threat to India''. ''As my Passport stands suspended. I further wish to point out that the RPO Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a security threat to India,'' he noted in his response. #PNBScam accused #MehulChoksi's reply to CBI: As my Passport stands suspended. I further wish to point out that the RPO Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a security threat to India. — ANI (@ANI) March 8, 2018 × Stating that various media reports have media of reports have tarnished his image, he said right to life and right to fair trial are quintessential fundamental rights guaranteed by the Constitution. ''The various news reports and publications against me violate those rights. I have got a sense from the different reports and publication that there is great unfairness which is prevalent against me and I would not get a fair treatment and a fair trial,'' he stated in his reply. The media is conducting a trial by itself and is blowing each and every issue out of proportion and is exaggerating allegations and this has left me completely defenceless, especially as my Passport has been suspended, without due process, he noted. 'I had expressed my apprehension for my family’s and my safety. I wish to bring to your attention that I am being threatened by individuals with whom I have a business relationship. As there has been a complete and sudden closure of business, my employees, customers, creditors etc have started to show their animosity towards me,'' he stated in the letter. He also said that he was concerned about his health and well-being and added that in case he was arrested, he would not be able to get proper health care and would be provided treatment only in a Government Hospital.

Mehul Choksi refuses to appear in front of CBI on health grounds, asks how he is security threat to India

The Central Bureau of Investigation has cleared that they do not believe the claims presented by&nbsp;fugitive Mehul Choksi and Nirav Modi.

They also said that they have asked the two to disclose their locations, however, they have not disclosed it yet.&nbsp;

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Both <a href="https://twitter.com/hashtag/MehulChoksi?src=hash&amp;ref_src=twsrc%5Etfw">#MehulChoksi</a> and <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a> have been asked to disclose their locations but they haven&rsquo;t disclosed yet. CBI is not believing the excuses being given by both of them: CBI
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/971715970019610624?ref_src=twsrc%5Etfw">March 8, 2018</a></blockquote>
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CBI registers a fresh case against two firms of <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a>. <a href="https://t.co/owq8xGdFzt">pic.twitter.com/owq8xGdFzt</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/971713381320351747?ref_src=twsrc%5Etfw">March 8, 2018</a></blockquote>
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The CBI&#39;s clarification came after <a href="http://www.wionews.com/india-news/mehul-choksi-refuses-to-appear-in-front-of-cbi-on-health-grounds-35086" target="_blank">Choksi sent a letter</a> to the investigating agency refusing to appear in front of the agency.&nbsp;

He said &#39;&#39;I&#39;m&nbsp;not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same&quot;.

Earlier Nirav Modi had also written a <a href="http://www.wionews.com/india-news/full-text-of-nirav-modis-letter-to-pnb-33448" target="_blank">letter to the Punjab National Bank</a> stating his incapability to pay back the loan amount. He also blamed the bank for defaming his brand.&nbsp;

CBI also said that they have asked the two to disclose their locations, however, they have not disclosed it yet

The Central Bureau of Investigation has cleared that they do not believe the claims presented by fugitive Mehul Choksi and Nirav Modi. They also said that they have asked the two to disclose their locations, however, they have not disclosed it yet. Both #MehulChoksi and #NiravModi have been asked to disclose their locations but they haven’t disclosed yet. CBI is not believing the excuses being given by both of them: CBI — ANI (@ANI) March 8, 2018 × CBI registers a fresh case against two firms of #NiravModi. pic.twitter.com/owq8xGdFzt — ANI (@ANI) March 8, 2018 × The CBI's clarification came after Choksi sent a letter to the investigating agency refusing to appear in front of the agency. He said ''I'm not in a position to travel due to my persisting health problem. I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same". Earlier Nirav Modi had also written a letter to the Punjab National Bank stating his incapability to pay back the loan amount. He also blamed the bank for defaming his brand.

Nirav Modi, Mehul Choksi not disclosing location, we do not believe their 'excuses': CBI

<a href="http://www.wionews.com/india-news/pm-speaks-to-andhra-cm-chandrababu-naidu-after-he-orders-two-tdp-ministers-to-quit-modis-cabinet-35109" target="_blank">Modi speaks to Andhra Pradesh CM Naidu, 2 TDP ministers quit Union Cabinet</a>

Prime Minister Narendra Modi spoke with Andhra Pradesh Chief Minister Chandrababu Naidu Thursday evening.&nbsp;The two TDP ministers in Modi&#39;s cabinet &mdash; Civil Aviation Minister Ashok Gajapathi Raju and Minister of State for Science and Technology YS Chowdary &mdash; later met with the prime minister and tendered their resignations to him.&nbsp;

<a href="http://www.wionews.com/india-news/karnataka-government-approves-state-flag-to-seek-approval-from-centre-35106" target="_blank">Karnataka unveils state flag, to seek approval from Centre</a>

The Karnataka&#39;s Siddaramaiah government unveiled an official state flag on Thursday.&nbsp;The flag or Naada Dwaja with red, white and yellow colours have state emblem &ldquo;Ganda Bherunda&rdquo;, a two-headed mythical bird in the middle.

<a href="http://www.wionews.com/india-news/kerala-love-jihad-case-supreme-court-restores-hadiyas-marriage-strikes-down-high-court-order-35101" target="_blank">Kerala &#39;love jihad&#39; case: Supreme Court restores Hadiya&#39;s marriage, strikes down </a><a href="http://www.wionews.com/india-news/kerala-love-jihad-case-supreme-court-restores-hadiyas-marriage-strikes-down-high-court-order-35101" target="_blank">high</a><a href="http://www.wionews.com/india-news/kerala-love-jihad-case-supreme-court-restores-hadiyas-marriage-strikes-down-high-court-order-35101" target="_blank"> court order</a>

In a relief to Kerala-based Hadiya, an alleged victim of love jihad, the Supreme Court today set aside the high court order annulling her marriage to a Muslim man. A bench comprising Chief Justice Dipak Misra and justices A M Khanwilkar and D Y Chandrachud, however, said that the National Investigation Agency (NIA) may continue its investigation in the matter.

<a href="http://www.wionews.com/india-news/mehul-choksi-refuses-to-appear-in-front-of-cbi-on-health-grounds-35086" target="_blank">Mehul Choksi refuses to appear in front of CBI on health grounds, asks how he is </a><a href="http://www.wionews.com/india-news/mehul-choksi-refuses-to-appear-in-front-of-cbi-on-health-grounds-35086" target="_blank">security</a><a href="http://www.wionews.com/india-news/mehul-choksi-refuses-to-appear-in-front-of-cbi-on-health-grounds-35086" target="_blank"> threat to India</a>

Fugitive diamantaire Mehul Choksi refused to appear in front of investigating agency Central Bureau of Investigation (CBI) on health grounds. In a letter to CBI, he stated that he could not travel due to the health problem.&nbsp;

<a href="http://www.wionews.com/south-asia/curfew-in-sri-lankan-tourist-town-of-kandy-to-be-temporarily-lifted-35060" target="_blank">Curfew in Sri Lankan tourist town of Kandy to be temporarily lifted</a>

A curfew in the Sri Lankan town of Kandy will be temporarily lifted on Thursday, authorities said, following days of violence against members of the minority Muslim community by Buddhists.

&nbsp;

Modi speaks to Andhra Pradesh CM Naidu, 2 TDP ministers quit Union Cabinet Prime Minister Narendra Modi spoke with Andhra Pradesh Chief Minister Chandrababu Naidu Thursday evening. The two TDP ministers in Modi's cabinet — Civil Aviation Minister Ashok Gajapathi Raju and Minister of State for Science and Technology YS Chowdary — later met with the prime minister and tendered their resignations to him. Karnataka unveils state flag, to seek approval from Centre The Karnataka's Siddaramaiah government unveiled an official state flag on Thursday. The flag or Naada Dwaja with red, white and yellow colours have state emblem “Ganda Bherunda”, a two-headed mythical bird in the middle. Kerala 'love jihad' case: Supreme Court restores Hadiya's marriage, strikes down high court order In a relief to Kerala-based Hadiya, an alleged victim of love jihad, the Supreme Court today set aside the high court order annulling her marriage to a Muslim man. A bench comprising Chief Justice Dipak Misra and justices A M Khanwilkar and D Y Chandrachud, however, said that the National Investigation Agency (NIA) may continue its investigation in the matter. Mehul Choksi refuses to appear in front of CBI on health grounds, asks how he is security threat to India Fugitive diamantaire Mehul Choksi refused to appear in front of investigating agency Central Bureau of Investigation (CBI) on health grounds. In a letter to CBI, he stated that he could not travel due to the health problem. Curfew in Sri Lankan tourist town of Kandy to be temporarily lifted A curfew in the Sri Lankan town of Kandy will be temporarily lifted on Thursday, authorities said, following days of violence against members of the minority Muslim community by Buddhists.

WION Evening News Brief, March 8, 2018

The Delhi High Court today sought response of the Enforcement Directorate on a plea by Nirav Modi&#39;s firm Firestar Diamond against a money laundering case lodged by the agency in connection with the over Rs 11,000 crore Punjab National Bank (PNB) fraud case.

A bench of Justices S Muralidhar and I S Mehta issued notice to the ED on Firestar Diamond International Private Ltd&#39;s plea seeking direction to the agency to supply it several documents, including a copy of the search warrants.

The bench, however, refrained itself from staying the proceedings against the company saying we want to consider the &quot;stay part&quot; after the agency files their response.

It directed ED to place before it the sequence in which it has initiated proceedings in the matter.

&quot;The relevant records involved in the matter should be placed before the court on the next date of the hearing, March 19. The officer conversant with the present case should also remain present in the court to answer all queries,&quot; the bench said.

Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank.

He also submitted before the court that the agency be directed to supply copy of the Enforcement Case Information Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises.

Additional Solicitor General Sandeep Sethi and advocate Amit Mahajan, appearing for ED submitted that the firm&#39;s plea is premature and the challenge is misconceived.

Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR.

The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank.

The Delhi High Court today sought response of the Enforcement Directorate on a plea by Nirav Modi's firm Firestar Diamond against a money laundering case lodged by the agency in connection with the over Rs 11,000 crore Punjab National Bank (PNB) fraud case. A bench of Justices S Muralidhar and I S Mehta issued notice to the ED on Firestar Diamond International Private Ltd's plea seeking direction to the agency to supply it several documents, including a copy of the search warrants. The bench, however, refrained itself from staying the proceedings against the company saying we want to consider the "stay part" after the agency files their response. It directed ED to place before it the sequence in which it has initiated proceedings in the matter. "The relevant records involved in the matter should be placed before the court on the next date of the hearing, March 19. The officer conversant with the present case should also remain present in the court to answer all queries," the bench said. Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank. He also submitted before the court that the agency be directed to supply copy of the Enforcement Case Information Report (ECIR) registered by it, pursuant to which the search and seizure was conducted by the ED in its premises. Additional Solicitor General Sandeep Sethi and advocate Amit Mahajan, appearing for ED submitted that the firm's plea is premature and the challenge is misconceived. Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR. The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

Court seeks ED reply over plea filed by Nirav Modi's firm Firestar Diamond

Shares of Gitanjali Gems plunged by another 5 per cent in morning trade as CBI tightened the noose on PNB offenders by arresting the vice president of Gitanjali Group of Companies.

The agency yesterday arrested Vipul Chitalia in the Rs 12,636-crore PNB scam and claimed that he was a &quot;mastermind&quot; who reported directly to diamond trader Mehul Choksi.

Reacting to the development, Gitanjali Gems stock slumped 5 per cent to hit its fresh 52-week low of Rs 17.45 on BSE.

This is the 15th straight session of fall for the stock. It has lost as as much as 80 per cent since February 14, the day PNB fraud came to light.

On NSE, the stock fell to a 52-week low of Rs 17.40.

CBI says Chitalia had left the country in the last week of January, as did the prime accused Nirav Modi and Choksi.

The fraud was allegedly perpetrated by Modi and his uncle Choksi, the promoter of Gitanjali Gems.

It is alleged that they got LoUs and FLCs of Rs 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims.

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

Shares of Gitanjali Gems plunged by another 5 per cent in morning trade as CBI tightened the noose on PNB offenders by arresting the vice president of Gitanjali Group of Companies. The agency yesterday arrested Vipul Chitalia in the Rs 12,636-crore PNB scam and claimed that he was a "mastermind" who reported directly to diamond trader Mehul Choksi. Reacting to the development, Gitanjali Gems stock slumped 5 per cent to hit its fresh 52-week low of Rs 17.45 on BSE. This is the 15th straight session of fall for the stock. It has lost as as much as 80 per cent since February 14, the day PNB fraud came to light. On NSE, the stock fell to a 52-week low of Rs 17.40. CBI says Chitalia had left the country in the last week of January, as did the prime accused Nirav Modi and Choksi. The fraud was allegedly perpetrated by Modi and his uncle Choksi, the promoter of Gitanjali Gems. It is alleged that they got LoUs and FLCs of Rs 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims.

Scam-hit Gitanjali Gems hits new low in stock market

The extent of the unraveling fraud at India&#39;s state-run Punjab National Bank could rise beyond the nearly $2 billion mark so far outlined by the lender, according to a source involved in the probe and court documents.

The source, who asked not to be named, said investigators had not yet recovered all the papers and loan guarantees allegedly issued by rogue employees of the bank, and consequently believed the bank&#39;s exposure could be greater than revealed so far.

In what has been dubbed as the biggest fraud in India&#39;s banking history, Punjab National Bank (PNB) and police have accused two jewelry groups - one controlled by diamond tycoon Nirav Modi and the other by his uncle Mehul Choksi - of colluding with bank employees to get credit from overseas banks using fraudulent guarantees.

Both Choksi and Modi have denied the allegations and lawyers for the two key accused PNB employees in the case have also said they are innocent.

According to court filings, the exposure to three companies controlled by Modi has been estimated at 64.98 billion rupees ($999 million), while firms controlled by Choksi have been accused of defrauding the bank of 61.38 billion rupees.

The Central Bureau of Investigation (CBI) has told a Mumbai court that the amount involving Modi&#39;s companies was likely to go up, according to the source and court filings, copies of which have been reviewed.

The CBI told the court that its investigation had found that the fraudulent issuance of letters of undertaking (LoUs), or guarantees, through a Mumbai branch of the bank had been going on since 2010.

In papers filed on Monday, the CBI also said PNB did not have all the documents related to the LoUs, since those were returned to the borrower.

&quot;Most of these documents are not yet recovered. The size of the fraud has now gone (up)...and the same is likely to go even higher,&quot; the CBI said in the court filing.

PNB did not respond to requests on Tuesday seeking comment on the risk of its exposure rising further.

The bank initially reported to authorities on January 29 that the jewelry groups had defrauded it of 2.8 billion rupees, or about $44 million. On February 14 it said the fraud sum had reached $1.77 billion after a detailed investigation.

It raised the amount further to nearly $2 billion last week, saying it had discovered some $200 million more in fraudulent letters of credit, another form of credit guarantee, issued to Choksi&#39;s Gitanjali group. 
&nbsp;

"Most of these documents are not yet recovered. The size of the fraud has now gone (up)...and the same is likely to go even higher," the CBI said in the court filing

The extent of the unraveling fraud at India's state-run Punjab National Bank could rise beyond the nearly $2 billion mark so far outlined by the lender, according to a source involved in the probe and court documents. The source, who asked not to be named, said investigators had not yet recovered all the papers and loan guarantees allegedly issued by rogue employees of the bank, and consequently believed the bank's exposure could be greater than revealed so far. In what has been dubbed as the biggest fraud in India's banking history, Punjab National Bank (PNB) and police have accused two jewelry groups - one controlled by diamond tycoon Nirav Modi and the other by his uncle Mehul Choksi - of colluding with bank employees to get credit from overseas banks using fraudulent guarantees. Both Choksi and Modi have denied the allegations and lawyers for the two key accused PNB employees in the case have also said they are innocent. According to court filings, the exposure to three companies controlled by Modi has been estimated at 64.98 billion rupees ($999 million), while firms controlled by Choksi have been accused of defrauding the bank of 61.38 billion rupees. The Central Bureau of Investigation (CBI) has told a Mumbai court that the amount involving Modi's companies was likely to go up, according to the source and court filings, copies of which have been reviewed. The CBI told the court that its investigation had found that the fraudulent issuance of letters of undertaking (LoUs), or guarantees, through a Mumbai branch of the bank had been going on since 2010. In papers filed on Monday, the CBI also said PNB did not have all the documents related to the LoUs, since those were returned to the borrower. "Most of these documents are not yet recovered. The size of the fraud has now gone (up)...and the same is likely to go even higher," the CBI said in the court filing. PNB did not respond to requests on Tuesday seeking comment on the risk of its exposure rising further. The bank initially reported to authorities on January 29 that the jewelry groups had defrauded it of 2.8 billion rupees, or about $44 million. On February 14 it said the fraud sum had reached $1.77 billion after a detailed investigation. It raised the amount further to nearly $2 billion last week, saying it had discovered some $200 million more in fraudulent letters of credit, another form of credit guarantee, issued to Choksi's Gitanjali group.

PNB bank fraud likely to swell beyond $2 billion mark

Congress President Rahul Gandhi and Members of Parliament (MPs) from the party today staged a protest in Parliament over the Rs 12,636-crore Punjab National Bank fraud case.

The Congress president and the lawmakers staged a protest near the Mahatma Gandhi statue in Parliament, ANI reported.

Parliamentary Affairs Minister Ananth Kumar said the government was ready to hold discussions on the scam in both houses but that the Opposition should stop the ruckus it was creating inside and outside Parliament.

&quot;Government is ready to hold discussion on the questions opposition is raising about the bank in both the houses. Opposition is invited for a structural debate and to stop the ruckus they are creating inside and outside the Parliament,&quot; Ananth Kumar said.

Rahul Gandhi has previously criticised Prime Minister Narendra Modi for turning a blind eye to the scam.

At a rally in Karnataka last month, the Congress President asked why Narendra Modi, who had described himself as the country&#39;s &quot;chowkidar&quot; (watchman), was &quot;silent&quot; on the Punjab National Bank (PNB) fraud.

&quot;Nirav Modi has indulged in the theft of Rs 22,000 crore, he runs away from the country, but the chowkidar of this country does not even utter a word,&quot; he said.

Rahul Gandhi has previously criticised Prime Minister Narendra Modi for turning a blind eye to the scam

Congress President Rahul Gandhi and Members of Parliament (MPs) from the party today staged a protest in Parliament over the Rs 12,636-crore Punjab National Bank fraud case. The Congress president and the lawmakers staged a protest near the Mahatma Gandhi statue in Parliament, ANI reported. Parliamentary Affairs Minister Ananth Kumar said the government was ready to hold discussions on the scam in both houses but that the Opposition should stop the ruckus it was creating inside and outside Parliament. "Government is ready to hold discussion on the questions opposition is raising about the bank in both the houses. Opposition is invited for a structural debate and to stop the ruckus they are creating inside and outside the Parliament," Ananth Kumar said. Rahul Gandhi has previously criticised Prime Minister Narendra Modi for turning a blind eye to the scam. At a rally in Karnataka last month, the Congress President asked why Narendra Modi, who had described himself as the country's "chowkidar" (watchman), was "silent" on the Punjab National Bank (PNB) fraud. "Nirav Modi has indulged in the theft of Rs 22,000 crore, he runs away from the country, but the chowkidar of this country does not even utter a word," he said.

Rahul Gandhi, Congress MPs protest outside Parliament over PNB scam

The Special CBI court in Mumbai has sent Vipul Ambani President (Finance) of Nirav Modi&#39;s Fire Star Diamond and 5 other accused Kavita Makikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal and Nitin Shahi to judicial custody for 14 days.&nbsp;&nbsp;

The six arrested in February by the CBI&nbsp;will remain in Judicial custody till March 19.&nbsp;

The CBI in its interrogation also revealed that the Vipul Ambani had complete knowledge of fraudulent and illegal Letter of Undertakings taken by Nirav Modi.&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/PNBFraudCase?src=hash&amp;ref_src=twsrc%5Etfw">#PNBFraudCase</a>: Vipul Ambani, President (Finance) of Nirav Modi&#39;s Fire Star Diamond and 5 other accused - Kavita Mankikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal &amp; Niten Shahi sent to Judicial Custody till 19th March by Special CBI Court, Mumbai
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970604776873488384?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

Whereas the<a href="http://www.wionews.com/india-news/pnb-scam-cbi-arrests-4-more-officials-of-modi-choksi-companies-34675" target="_blank"> four accused who were arrested Sunday</a> have&nbsp;been sent to judicial custody for 12 days.&nbsp;

Manish Bosamiya, Miten Pandya, Sanjay Rambhia and Aniyath Shiv Raman Nair will remain in judicial custody till March 17.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/PNBFraudCase?src=hash&amp;ref_src=twsrc%5Etfw">#PNBFraudCase</a>: Four accused- Manish Bosamiya, Miten Pandya, Sanjay Rambhia &amp; Aniyath Shiv Raman Nair, arrested yesterday, sent to police custody till 17 March by Special CBI Court, <a href="https://twitter.com/hashtag/Mumbai?src=hash&amp;ref_src=twsrc%5Etfw">#Mumbai</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970625581778792448?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The CBI also questioned Punjab National Bank&#39;s General Manager Treasury, SK Chand in connection with the Fraud case.&nbsp;

The agency has yet to track down Modi and Choksi, who left India in January before the fraud came to light. Both have issued statements denying the CBI&rsquo;s charges.

Nirav Modi and Mehul Choksi, owner of Gitanjali gems, are accused of securing unauthorised loans using fraudulent LoUs from the PNB.

They are suspected of colluding with bank officials at PNB to obtain unauthorised loans over a six-year period starting in 2011.&nbsp;

The Special CBI court in Mumbai has sent Vipul Ambani President (Finance) of Nirav Modi's Fire Star Diamond and 5 other accused Kavita Makikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal and Nitin Shahi to judicial custody for 14 days

The Special CBI court in Mumbai has sent Vipul Ambani President (Finance) of Nirav Modi's Fire Star Diamond and 5 other accused Kavita Makikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal and Nitin Shahi to judicial custody for 14 days. The six arrested in February by the CBI will remain in Judicial custody till March 19. The CBI in its interrogation also revealed that the Vipul Ambani had complete knowledge of fraudulent and illegal Letter of Undertakings taken by Nirav Modi. #PNBFraudCase: Vipul Ambani, President (Finance) of Nirav Modi's Fire Star Diamond and 5 other accused - Kavita Mankikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal & Niten Shahi sent to Judicial Custody till 19th March by Special CBI Court, Mumbai — ANI (@ANI) March 5, 2018 × Whereas the four accused who were arrested Sunday have been sent to judicial custody for 12 days. Manish Bosamiya, Miten Pandya, Sanjay Rambhia and Aniyath Shiv Raman Nair will remain in judicial custody till March 17. #PNBFraudCase: Four accused- Manish Bosamiya, Miten Pandya, Sanjay Rambhia & Aniyath Shiv Raman Nair, arrested yesterday, sent to police custody till 17 March by Special CBI Court, #Mumbai — ANI (@ANI) March 5, 2018 × The CBI also questioned Punjab National Bank's General Manager Treasury, SK Chand in connection with the Fraud case. The agency has yet to track down Modi and Choksi, who left India in January before the fraud came to light. Both have issued statements denying the CBI’s charges. Nirav Modi and Mehul Choksi, owner of Gitanjali gems, are accused of securing unauthorised loans using fraudulent LoUs from the PNB. They are suspected of colluding with bank officials at PNB to obtain unauthorised loans over a six-year period starting in 2011.

PNB Fraud: CBI sends 10 people to judicial custody

The second part of the Budget session resumes today with both houses of Parliament meeting after a month-long break.

The Opposition parties are likely to corner the Prime Minister Narendra Modi-led government on the Rs 12,636 crore Punjab National Bank (PNB) scam involving celebrity jewellery designer Nirav Modi and his uncle and business partner Mehul Choksi.

The government&#39;s priorities are likely to be the passage of the triple talaq bill andd the Fugitive Economic Offenders Bill.

The Prime Minister Narendra Modi-led Union cabinet had approved the proposal to introduce the offenders bill 2018 in the Parliament on March 1.

The purpose of the bill is to confiscate the assets of a fugitive, including Benami assets.

The Parliament will also take up a discussion on the Union budget, which was tabled in the first half of the session, and pass it.

The government has listed a few bills for consideration and passage in both Houses.

In the Lok Sabha, it intends to bring The Payment of Gratuity (Amendment) Bill, 2017, and The Specific Relief (Amendment) Bill, 2017, on March 5, and The Dentists (Amendment) Bill, 2017, on March 6.

In the Rajya Sabha, the government has listed The Motor Vehicles (Amendment) Bill, 2017, and The State Banks (Repeal and Amendment) Bill, 2017, for the first day of the session.

(With inputs from ANI)

 
&nbsp;

The government's priorities are likely to be the passage of the triple talaq bill and the Fugitive Economic Offenders Bill

The second part of the Budget session resumes today with both houses of Parliament meeting after a month-long break. The Opposition parties are likely to corner the Prime Minister Narendra Modi-led government on the Rs 12,636 crore Punjab National Bank (PNB) scam involving celebrity jewellery designer Nirav Modi and his uncle and business partner Mehul Choksi. The government's priorities are likely to be the passage of the triple talaq bill andd the Fugitive Economic Offenders Bill. The Prime Minister Narendra Modi-led Union cabinet had approved the proposal to introduce the offenders bill 2018 in the Parliament on March 1. The purpose of the bill is to confiscate the assets of a fugitive, including Benami assets. The Parliament will also take up a discussion on the Union budget, which was tabled in the first half of the session, and pass it. The government has listed a few bills for consideration and passage in both Houses. In the Lok Sabha, it intends to bring The Payment of Gratuity (Amendment) Bill, 2017, and The Specific Relief (Amendment) Bill, 2017, on March 5, and The Dentists (Amendment) Bill, 2017, on March 6. In the Rajya Sabha, the government has listed The Motor Vehicles (Amendment) Bill, 2017, and The State Banks (Repeal and Amendment) Bill, 2017, for the first day of the session. (With inputs from ANI)

Budget Session to resume in Parliament from today

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