Lok Sabha adjourned for the day amid protests by opposition and other parties on various issues. &nbsp;

Earlier, the lower house was adjourned till 12 noon amid noisy protests by various parties on issues including PNB scam.

The proceedings of the Lok Sabha were paralysed for the ninth consecutive day today as several parties, including NDA constituent TDP, continued their noisy protests over various issues, including the PNB scam and special status for Andhra Pradesh.

As soon as Speaker Sumitra Mahajan took up the Question Hour, members from various parties trooped into the Well holding placards.

When Union minister Ram Kripal Yadav was responding to the first question on rural housing, the protesting members raised their pitch, drowning his voice.

Parliamentary Affairs Minister Ananth Kumar urged the members of the opposition parties, including the Congress, to return to their seats and allow the House to function.

He said Parliament is the &#39;maha panchayat&#39; of the country where issues are discussed but the disruptions are not allowing important issues to be raised.

He also thanked the Speaker for trying to ensure smooth functioning. He said the government is open to discuss issues including bank scam, Cauvery water management board and special status for Andhra Pradesh, but the House has to function first and members have to vacate the Well.

As the protests continued, the House was adjourned till 12 noon minutes after it met at 11 am.

While members of the Congress, TMC, TDP, YSR Congress and TRS were in the Well raising slogans and holding placards, MPs from the Left were standing at their seats and shouting slogans.

Since March 5, when Parliament had met after a recess, the Lok Sabha has seen disruptions on a daily basis. Amid the din, the Finance Bill and the appropriation bills were yesterday passed by the House without discussion.

As the protests continued, the House was adjourned till 12 noon minutes after it met at 11 am

Lok Sabha adjourned for the day amid protests by opposition and other parties on various issues. Earlier, the lower house was adjourned till 12 noon amid noisy protests by various parties on issues including PNB scam. The proceedings of the Lok Sabha were paralysed for the ninth consecutive day today as several parties, including NDA constituent TDP, continued their noisy protests over various issues, including the PNB scam and special status for Andhra Pradesh. As soon as Speaker Sumitra Mahajan took up the Question Hour, members from various parties trooped into the Well holding placards. When Union minister Ram Kripal Yadav was responding to the first question on rural housing, the protesting members raised their pitch, drowning his voice. Parliamentary Affairs Minister Ananth Kumar urged the members of the opposition parties, including the Congress, to return to their seats and allow the House to function. He said Parliament is the 'maha panchayat' of the country where issues are discussed but the disruptions are not allowing important issues to be raised. He also thanked the Speaker for trying to ensure smooth functioning. He said the government is open to discuss issues including bank scam, Cauvery water management board and special status for Andhra Pradesh, but the House has to function first and members have to vacate the Well. As the protests continued, the House was adjourned till 12 noon minutes after it met at 11 am. While members of the Congress, TMC, TDP, YSR Congress and TRS were in the Well raising slogans and holding placards, MPs from the Left were standing at their seats and shouting slogans. Since March 5, when Parliament had met after a recess, the Lok Sabha has seen disruptions on a daily basis. Amid the din, the Finance Bill and the appropriation bills were yesterday passed by the House without discussion.

Lok Sabha adjourned for ninth consecutive day amid protests

Congress party president Rahul Gandhi on Monday alleged that Union Finance Minister Arun Jaitley is silent on the Punjab National Bank (PNB) fraud to save her daughter, whose law firm, according to a media report, had a brief retainership with Mehul Choksi-owned Geetanjali Gems.

Gandhi tweeted, &quot;It&#39;s now revealed that our FM&#39;s silence on the PNB SCAM was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the SCAM became public. When other law firms of the accused have been raided by the CBI, why not hers?&quot;

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It&#39;s now revealed that our FM&#39;s silence on the PNB SCAM was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the SCAM became public. When other law firms of the accused have been raided by the CBI, why not hers? <a href="https://twitter.com/hashtag/ModiRobsIndia?src=hash&amp;ref_src=twsrc%5Etfw">#ModiRobsIndia</a> <a href="https://t.co/As9y9Dv0RZ">https://t.co/As9y9Dv0RZ</a>
&mdash; Office of RG (@OfficeOfRG) <a href="https://twitter.com/OfficeOfRG/status/973079089140690946?ref_src=twsrc%5Etfw">March 12, 2018</a></blockquote>
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Celebrated jeweller Nirav Modi and his uncle Mehul Choksi are accused in the Rs. 12,600-crore PNB fraud, causing a slugfest in the political corridors of India.The mega-swindle started in 2011 and was detected in January this year, after which the PNB officials reported it to the concerned agencies.

It's now revealed that our FM's silence on the PNB SCAM was to protect his lawyer daughter, Gandhi tweeted

Congress party president Rahul Gandhi on Monday alleged that Union Finance Minister Arun Jaitley is silent on the Punjab National Bank (PNB) fraud to save her daughter, whose law firm, according to a media report, had a brief retainership with Mehul Choksi-owned Geetanjali Gems. Gandhi tweeted, "It's now revealed that our FM's silence on the PNB SCAM was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the SCAM became public. When other law firms of the accused have been raided by the CBI, why not hers?" It's now revealed that our FM's silence on the PNB SCAM was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the SCAM became public. When other law firms of the accused have been raided by the CBI, why not hers? #ModiRobsIndia https://t.co/As9y9Dv0RZ — Office of RG (@OfficeOfRG) March 12, 2018 × Celebrated jeweller Nirav Modi and his uncle Mehul Choksi are accused in the Rs. 12,600-crore PNB fraud, causing a slugfest in the political corridors of India.The mega-swindle started in 2011 and was detected in January this year, after which the PNB officials reported it to the concerned agencies.

Rahul Gandhi accuses Arun Jaitley of being silent on PNB scam

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

Congress party president Rahul Gandhi on Monday alleged that Union Finance Minister Arun Jaitley is silent on the Punjab National Bank (PNB) fraud to save her daughter, whose law firm, according to a media report, had a brief retainership with Mehul Choksi-owned Geetanjali Gems.

Gandhi tweeted, "It's now revealed that our FM's silence on the PNB SCAM was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the SCAM became public. When other law firms of the accused have been raided by the CBI, why not hers?"

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It's now revealed that our FM's silence on the PNB SCAM was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the SCAM became public. When other law firms of the accused have been raided by the CBI, why not hers? <a href="https://twitter.com/hashtag/ModiRobsIndia?src=hash&ref_src=twsrc%5Etfw">#ModiRobsIndia</a> <a href="https://t.co/As9y9Dv0RZ">https://t.co/As9y9Dv0RZ</a>
— Office of RG (@OfficeOfRG) <a href="https://twitter.com/OfficeOfRG/status/973079089140690946?ref_src=twsrc%5Etfw">March 12, 2018</a></blockquote>
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Celebrated jeweller Nirav Modi and his uncle Mehul Choksi are accused in the Rs. 12,600-crore PNB fraud, causing a slugfest in the political corridors of India.The mega-swindle started in 2011 and was detected in January this year, after which the PNB officials reported it to the concerned agencies.

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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&nbsp;

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

Congress president Rahul Gandhi on Tuesday took a dig at Prime Minister Narendra Modi for being quiet on the multi-crore Punjab National Bank (PNB) scam.

Rahul, who returned from Italy yesterday, took to his Twitter handle, saying &ldquo;ek Nirav Modi hai, dusra Modi nirav hai&rdquo;.&nbsp;

The case is related to the over Rs 13,600 crore PNB fraud by diamond jeweller Nirav Modi and his uncle Mehul Choksi, owner of Gitanjali gems.

Congress MPs along with party president staged a protest against the PNB scam near Mahatma Gandhi statue in Parliament today.&nbsp;

The party even raised the issue inside Parliament during the second half of Budget Session leading to repeated adjournments.&nbsp;

Meanwhile, the Lok Sabha was adjourned till 12 noon after members disrupted the House over the scam.

Rajay Sabha adjourned too was adjourned for the day following ruckus over the fraud.

The Enforcement Directorate (ED) had earlier issued summons to the duo asking them to appear before the central agency.&nbsp;

However, Modi, his family, and Choksi left the country in early January, much before the CBI received a complaint from the PNB.

Rahul took to Twitter to take a dig at PM Modi

Congress president Rahul Gandhi on Tuesday took a dig at Prime Minister Narendra Modi for being quiet on the multi-crore Punjab National Bank (PNB) scam. Rahul, who returned from Italy yesterday, took to his Twitter handle, saying “ek Nirav Modi hai, dusra Modi nirav hai”. The case is related to the over Rs 13,600 crore PNB fraud by diamond jeweller Nirav Modi and his uncle Mehul Choksi, owner of Gitanjali gems. Congress MPs along with party president staged a protest against the PNB scam near Mahatma Gandhi statue in Parliament today. The party even raised the issue inside Parliament during the second half of Budget Session leading to repeated adjournments. Meanwhile, the Lok Sabha was adjourned till 12 noon after members disrupted the House over the scam. Rajay Sabha adjourned too was adjourned for the day following ruckus over the fraud. The Enforcement Directorate (ED) had earlier issued summons to the duo asking them to appear before the central agency. However, Modi, his family, and Choksi left the country in early January, much before the CBI received a complaint from the PNB.

PNB scam: Rahul Gandhi questions PM Modi's silence, says 'ek Nirav Modi Hai, dusra Modi nirav hai'

ICICI Bank chief Chanda Kochhar and Axis Bank chief Shikha Sharma have been summoned by the&nbsp;Serious Fraud Investigation Office (SFIO) in connection with the over Rs 13,000-crore PNB scam.&nbsp;

ICICI Bank had led a consortium of 31 banks which had lent Mehul Choksi&#39;s Gitanjali Gems Rs 1,000 crore. Choksi is <a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970" target="_blank">Nirav Modi&#39;s</a> uncle and partner.&nbsp;

Also read: <a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">Rahul Gandhi questions PM Modi&#39;s silence, says &#39;</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">ek</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank"> Nirav Modi Hai, </a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">dusra</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank"> Modi </a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank">nirav</a><a href="http://www.wionews.com/india-news/pnb-scam-rahul-gandhi-questions-pm-modis-silence-says-ek-nirav-modi-hai-dusra-modi-nirav-hai-34878" target="_blank"> hai&#39;</a>

PTI reported that the SFIO has asked the heads of all 31 banks to come in for questioning. Kochhar, Sharma and the other bank chiefs are expected to be questioned at the SFIO&#39;s headquarters in Mumbai.&nbsp;

Kochar and Sharma will be questioned about the loans their banks made to Modi and Choksi but, news reports said, they are not being seen as suspects in the scam. &nbsp;

The PNB scam is being investigated by a slew of agencies including the CBI, the Enforcement Directorate and the SFIO.&nbsp;

The scam was first reported from a Mumbai branch of the Punjab National Bank.&nbsp;

It is alleged that PNB officials colluded with Modi and others to issue them Letters of Understanding (LoUs), basically bank guarantees. It was on those LoUs that Modi and Choksi got their bank loans.&nbsp;

ICICI Bank had led a consortium of 31 banks that had lent Rs 1,000 crore to Mehul Choksi's Gitanjali Gems

ICICI Bank chief Chanda Kochhar and Axis Bank chief Shikha Sharma have been summoned by the Serious Fraud Investigation Office (SFIO) in connection with the over Rs 13,000-crore PNB scam. ICICI Bank had led a consortium of 31 banks which had lent Mehul Choksi's Gitanjali Gems Rs 1,000 crore. Choksi is Nirav Modi's uncle and partner. Also read: Rahul Gandhi questions PM Modi's silence, says 'ek Nirav Modi Hai, dusra Modi nirav hai' PTI reported that the SFIO has asked the heads of all 31 banks to come in for questioning. Kochhar, Sharma and the other bank chiefs are expected to be questioned at the SFIO's headquarters in Mumbai. Kochar and Sharma will be questioned about the loans their banks made to Modi and Choksi but, news reports said, they are not being seen as suspects in the scam. The PNB scam is being investigated by a slew of agencies including the CBI, the Enforcement Directorate and the SFIO. The scam was first reported from a Mumbai branch of the Punjab National Bank. It is alleged that PNB officials colluded with Modi and others to issue them Letters of Understanding (LoUs), basically bank guarantees. It was on those LoUs that Modi and Choksi got their bank loans.

PNB scam: ICICI's Chanda Kochhar, Axis Bank's Shikha Sharma summoned by Serious Fraud Investigation Office

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 Central Bureau of Investigation today detained Vipul Chitalia, vice president (banking operations), Gitanjali Group, in Mumbai in the Punjab National Bank fraud case, an offcial said.

Vipul Chitalia, who was detained at the Mumbai Airport, has been taken for questioning, the official added.

Yesterday, <a href="http://www.wionews.com/india-news/pnb-fraud-cbi-sends-10-people-to-judicial-custody-34767">the Special CBI court </a>in Mumbai sent Vipul Ambani President (Finance) of billionaire jeweller 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;

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;

On Sunday, the investigating agency arrested four more people in the alleged Rs 12,636-crore fraud case by &nbsp;Nirav Modi and his uncle and business partner Mehul Choksi. They included two former employees of the Firestar International Manish Bosamiya and Miten Pandya, who were arrested on suspicion of fabricating paperwork for the fraud, the CBI said.

Bosamiya, the then AGM (operations) of Firestarter International, and then Finance Manager Miten Anil Pandya allegedly prepared applications for fraudulent Letters of Undertakings submitted to Punjab National Bank, officials said.

An auditor, Sampat Rambhia, was also arrested, as was Aniyath Shiv Raman, a former director of the Mehul Choksi-owned Gili India. The CBI alleges he was the authorised signatory for the applications submitted to PNB for issuance of purported letters of undertaking (LoUs) and foreign letters of credit (FLCs).

(With inputs from agencies)

Vipul Chitalia has been taken for questioning, an official said

The Central Bureau of Investigation today detained Vipul Chitalia, vice president (banking operations), Gitanjali Group, in Mumbai in the Punjab National Bank fraud case, an offcial said. Vipul Chitalia, who was detained at the Mumbai Airport, has been taken for questioning, the official added. Yesterday, the Special CBI court in Mumbai sent Vipul Ambani President (Finance) of billionaire jeweller 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 CBI in its interrogation also revealed that the Vipul Ambani had complete knowledge of fraudulent and illegal Letter of Undertakings taken by Nirav Modi. On Sunday, the investigating agency arrested four more people in the alleged Rs 12,636-crore fraud case by Nirav Modi and his uncle and business partner Mehul Choksi. They included two former employees of the Firestar International Manish Bosamiya and Miten Pandya, who were arrested on suspicion of fabricating paperwork for the fraud, the CBI said. Bosamiya, the then AGM (operations) of Firestarter International, and then Finance Manager Miten Anil Pandya allegedly prepared applications for fraudulent Letters of Undertakings submitted to Punjab National Bank, officials said. An auditor, Sampat Rambhia, was also arrested, as was Aniyath Shiv Raman, a former director of the Mehul Choksi-owned Gili India. The CBI alleges he was the authorised signatory for the applications submitted to PNB for issuance of purported letters of undertaking (LoUs) and foreign letters of credit (FLCs). (With inputs from agencies)

PNB scam: CBI detains Vipul Chitalia, VP Banking of Gitanjali Group

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<a href="http://www.wionews.com/world/no-need-for-nuclear-weapons-if-we-have-security-guarantee-north-korea-34896" target="_blank">No need for nuclear weapons if we have security guarantee: North Korea</a>

North Korea is open to denuclearisation if the safety of Kim Jong Un&rsquo;s regime is guaranteed, a South Korean official said Tuesday.

<a href="http://www.wionews.com/south-asia/sri-lanka-imposes-10-day-emergency-in-kandy-due-to-communal-tension-34868" target="_blank">Sri Lanka declares </a><a href="http://www.wionews.com/south-asia/sri-lanka-imposes-10-day-emergency-in-kandy-due-to-communal-tension-34868" target="_blank">emergency</a><a href="http://www.wionews.com/south-asia/sri-lanka-imposes-10-day-emergency-in-kandy-due-to-communal-tension-34868" target="_blank"> to quell Buddhist-Muslim riots, curfew imposed in Kandy</a>

Sri Lanka declared a nationwide state of emergency for 10 days on Tuesday to stop the spread of communal violence, a government spokesman said, after clashes erupted between majority Buddhists and members of the minority Muslim community.

<a href="http://www.wionews.com/india-news/neiphiu-rio-appointed-nagaland-chief-minister-by-governor-pb-acharya-34900" target="_blank">Neiphiu Rio appointed </a><a href="http://www.wionews.com/india-news/neiphiu-rio-appointed-nagaland-chief-minister-by-governor-pb-acharya-34900" target="_blank">c</a><a href="http://www.wionews.com/india-news/neiphiu-rio-appointed-nagaland-chief-minister-by-governor-pb-acharya-34900" target="_blank">hief</a><a href="http://www.wionews.com/india-news/neiphiu-rio-appointed-nagaland-chief-minister-by-governor-pb-acharya-34900" target="_blank"> minister of Nagaland</a>

Nagaland Governor PB Acharya has appointed Neiphiu Rio as chief minister under clause (1) of Article 164 of the Constitution.&nbsp;

<a href="http://www.wionews.com/india-news/pnb-scam-icicis-chanda-kochhar-axis-banks-shikha-sharma-summoned-by-sfio-34893" target="_blank">PNB scam: ICICI&#39;s Chanda Kochhar, Axis Bank&#39;s Shikha Sharma summoned by Serious Fraud Investigation Office</a>

ICICI Bank chief Chanda Kochhar and Axis Bank chief Shikha Sharma have been summoned by the Serious Fraud Investigation Office (SFIO) in connection with the over Rs 13,000-crore PNB scam.&nbsp;

INX Media case: CBI custody of Karti Chidambaram extended by 3 days A special CBI Court on Tuesday extended the agency's custody of Karti Chidambaram by three more days in the infamous INX Media case, after his previous five-day custody expired today. No need for nuclear weapons if we have security guarantee: North Korea North Korea is open to denuclearisation if the safety of Kim Jong Un’s regime is guaranteed, a South Korean official said Tuesday. Sri Lanka declares emergency to quell Buddhist-Muslim riots, curfew imposed in Kandy Sri Lanka declared a nationwide state of emergency for 10 days on Tuesday to stop the spread of communal violence, a government spokesman said, after clashes erupted between majority Buddhists and members of the minority Muslim community. Neiphiu Rio appointed chief minister of Nagaland Nagaland Governor PB Acharya has appointed Neiphiu Rio as chief minister under clause (1) of Article 164 of the Constitution. PNB scam: ICICI's Chanda Kochhar, Axis Bank's Shikha Sharma summoned by Serious Fraud Investigation Office ICICI Bank chief Chanda Kochhar and Axis Bank chief Shikha Sharma have been summoned by the Serious Fraud Investigation Office (SFIO) in connection with the over Rs 13,000-crore PNB scam.

WION Evening News Brief, March 6, 2018

Union Minister Ravi Shankar Prasad hit out at the Congress saying that the entire banking system was out of control under the leadership of Economist&nbsp;Prime Minister Manmohan Singh.

He also blamed the Congress&nbsp;for the&nbsp;PNB Scam&nbsp;saying that UPA helped&nbsp;Mehul Choksi&nbsp;in&nbsp;2014.

He added that the corruption was&nbsp;planted in the Congress regime.

Prasad also said that the Congress party has issues with technology since technology brings transparency.&nbsp;

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Under the so called economist Prime Minister Manomhan Singh, the entire banking system went haywire due to all kinds of interference with it: Union Minister Ravi Shankar Prasad <a href="https://t.co/Uz0N1C3x5H">pic.twitter.com/Uz0N1C3x5H</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970604658665361409?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
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Referring to the 80:20 Gold scheme, he said that the Congress must come clean in the loot. &nbsp;

He said &quot;There was a Scheme 80:20 introduced in August 2013 and repealed in November 2014. On 16th May 2014, the date of the declaration of results, the then Finance Minister gave &#39;aashirvaad&#39; to 7 private companies under 80:20 Scheme. One of those companies was Gitanjali.&quot;

He further said &quot;Chidambaram and Rahul Gandhi must answer why was this passed on the day of results to benefit these 7 private companies?

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Congress has been indulging in the politics of fear and confusion in the last 4 years: Union Minister Ravi Shankar Prasad <a href="https://t.co/kRNuRMNbhd">pic.twitter.com/kRNuRMNbhd</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970603779807698944?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
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Replying to the Congress&#39; accusations of corruption in Rafale deal, he said: &quot;&nbsp;It is very surprising that Congress party which is drowned in corruption in Bofors among other purchases of weapons system, is raising questions on Rafale deal&quot;.&nbsp; He added that Congress could not execute Rafale deal for 10 years.&nbsp;

Prasad claimed that not a single loan given&nbsp;under the BJP government is Non-performing Asset.&nbsp;

He said &quot;Time and again we have stated that not a single loan given under our government is NPA. In 2008, the total advance to people given by the banks was Rs 18.06 Lakh Crores. By March 2014 amount went up to Rs 52.15 Lakh Crore. The stressed asset identified out of this was only 36 per cent&quot;.

He added &quot;Now the stressed asset has risen to 82 per cent out of that advances made in the UPA government. This means for more than one occasions the correct data could not make it to the records of the banks under UPA government&quot;.&nbsp;

Speaking about the party&#39;s historic victory in Tripura he said the win was very difficult for the country.&nbsp;

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Tripura ki jeet desh ke liye ek bahut doorgaami jeet hai: Union Minister Ravi Shankar Prasad <a href="https://t.co/RIVpAV0zm3">pic.twitter.com/RIVpAV0zm3</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970603067191291904?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
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He said that they did not expect Congress to lose in North East where the party had a stronghold. However, the Congres&nbsp;lost in Tripura and Nagaland also.&nbsp;

He added that his party won in a region where 88 per cent&nbsp;population is majorly&nbsp;occupied by Christians.&nbsp;

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Congress UP, Haryana, Jharkhand, Kashmir mein haari. Hum ummid karte the ki North-East mein Cong ki pakad hai. Par Cong Tripura aur Nagaland mein 0. Nagaland mein BJP ne 20 candidates utare, aur 12 jeete. Hume 15% vote mile, aise pradesh mein jahan 88% Christians hain: RS Prasad <a href="https://t.co/ksqp6waYzZ">pic.twitter.com/ksqp6waYzZ</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970610180093194240?ref_src=twsrc%5Etfw">March 5, 2018</a></blockquote>
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&nbsp;

Union Minister Ravi Shankar Prasad hit out at the Congress saying that the entire banking system was out of control under the leadership of Economist Prime Minister Manmohan Singh. He added that the corruption was planted in the Congress regime

Union Minister Ravi Shankar Prasad hit out at the Congress saying that the entire banking system was out of control under the leadership of Economist Prime Minister Manmohan Singh. He also blamed the Congress for the PNB Scam saying that UPA helped Mehul Choksi in 2014. He added that the corruption was planted in the Congress regime. Prasad also said that the Congress party has issues with technology since technology brings transparency. Under the so called economist Prime Minister Manomhan Singh, the entire banking system went haywire due to all kinds of interference with it: Union Minister Ravi Shankar Prasad pic.twitter.com/Uz0N1C3x5H — ANI (@ANI) March 5, 2018 × Referring to the 80:20 Gold scheme, he said that the Congress must come clean in the loot. He said "There was a Scheme 80:20 introduced in August 2013 and repealed in November 2014. On 16th May 2014, the date of the declaration of results, the then Finance Minister gave 'aashirvaad' to 7 private companies under 80:20 Scheme. One of those companies was Gitanjali." He further said "Chidambaram and Rahul Gandhi must answer why was this passed on the day of results to benefit these 7 private companies? Congress has been indulging in the politics of fear and confusion in the last 4 years: Union Minister Ravi Shankar Prasad pic.twitter.com/kRNuRMNbhd — ANI (@ANI) March 5, 2018 × Replying to the Congress' accusations of corruption in Rafale deal, he said: " It is very surprising that Congress party which is drowned in corruption in Bofors among other purchases of weapons system, is raising questions on Rafale deal". He added that Congress could not execute Rafale deal for 10 years. Prasad claimed that not a single loan given under the BJP government is Non-performing Asset. He said "Time and again we have stated that not a single loan given under our government is NPA. In 2008, the total advance to people given by the banks was Rs 18.06 Lakh Crores. By March 2014 amount went up to Rs 52.15 Lakh Crore. The stressed asset identified out of this was only 36 per cent". He added "Now the stressed asset has risen to 82 per cent out of that advances made in the UPA government. This means for more than one occasions the correct data could not make it to the records of the banks under UPA government". Speaking about the party's historic victory in Tripura he said the win was very difficult for the country. Tripura ki jeet desh ke liye ek bahut doorgaami jeet hai: Union Minister Ravi Shankar Prasad pic.twitter.com/RIVpAV0zm3 — ANI (@ANI) March 5, 2018 × He said that they did not expect Congress to lose in North East where the party had a stronghold. However, the Congres lost in Tripura and Nagaland also. He added that his party won in a region where 88 per cent population is majorly occupied by Christians. Congress UP, Haryana, Jharkhand, Kashmir mein haari. Hum ummid karte the ki North-East mein Cong ki pakad hai. Par Cong Tripura aur Nagaland mein 0. Nagaland mein BJP ne 20 candidates utare, aur 12 jeete. Hume 15% vote mile, aise pradesh mein jahan 88% Christians hain: RS Prasad pic.twitter.com/ksqp6waYzZ — ANI (@ANI) March 5, 2018 ×

Chidambaram helped Mehul Choksi in 2014: Ravi Shankar Prasad

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

The Central Bureau of Investigations (CBI) on Sunday arrested four more people in the&nbsp;alleged Rs 12,636-crore fraud case at the Punjab National Bank (PNB) by billionaire jeweller Nirav Modi and his uncle and business partner Mehul Choksi.

The CBI said it had arrested two former employees of the Nirav Modi-owned Firestar International -- Manish Bosamiya and Miten Pandya.

The former Firestar employees were arrested on suspicion of fabricating paperwork for the fraud, the CBI said.

Bosamiya, the then AGM (operations) of Firestarter International, and then Finance Manager Miten Anil Pandya allegedly prepared applications for fraudulent Letters of Undertakings submitted to Punjab National Bank, officials said.

An auditor, Sampat Rambhia, was also arrested, as was Aniyath Shiv Raman, a former director of the Mehul Choksi-owned Gili India. The CBI alleges he was the authorised signatory for the applications submitted to PNB for issuance of purported letters of undertaking (LoUs) and foreign letters of credit (FLCs). Also read -&nbsp;<a href="http://www.wionews.com/india-news/pnb-fraud-cbi-says-nirav-modi-gave-gold-bribes-34614">PNB fraud: CBI says Nirav Modi gave gold bribes</a>

More than a dozen people have been arrested by the CBI since the fraud at PNB, the country&#39;s second-biggest lender, came to light in January.

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 accused officials of the PNB did not enter the instructions for these LoUs and FLCs in their internal software to avoid scrutiny.

They were sent through an international messaging system for banking called SWIFT, which is used to pass instructions among banks globally to transfer funds.

The PNB officials allegedly sent these messages to Indian banks -- Canara Bank, State Bank of India, Bank of India, Axis Bank, Allahabad bank -- located in Antwerp, Hong Kong, Bahrain, Mauritius, Frankfurt without making 
entries in the banking software about the LoUs.

Upon receiving the messages from PNB under SWIFT, the banks abroad transferred these amounts into NOSTRO account of PNB with them.

Nostro account is an account that a bank holds in a foreign currency in another bank to enable foreign trade by its clients.&nbsp;

(With inputs from agencies)

More than a dozen people have been arrested by the CBI since the fraud at PNB, the country's second-biggest lender, came to light in January

The Central Bureau of Investigations (CBI) on Sunday arrested four more people in the alleged Rs 12,636-crore fraud case at the Punjab National Bank (PNB) by billionaire jeweller Nirav Modi and his uncle and business partner Mehul Choksi. The CBI said it had arrested two former employees of the Nirav Modi-owned Firestar International -- Manish Bosamiya and Miten Pandya. The former Firestar employees were arrested on suspicion of fabricating paperwork for the fraud, the CBI said. Bosamiya, the then AGM (operations) of Firestarter International, and then Finance Manager Miten Anil Pandya allegedly prepared applications for fraudulent Letters of Undertakings submitted to Punjab National Bank, officials said. An auditor, Sampat Rambhia, was also arrested, as was Aniyath Shiv Raman, a former director of the Mehul Choksi-owned Gili India. The CBI alleges he was the authorised signatory for the applications submitted to PNB for issuance of purported letters of undertaking (LoUs) and foreign letters of credit (FLCs). Also read - PNB fraud: CBI says Nirav Modi gave gold bribes More than a dozen people have been arrested by the CBI since the fraud at PNB, the country's second-biggest lender, came to light in January. 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. The accused officials of the PNB did not enter the instructions for these LoUs and FLCs in their internal software to avoid scrutiny. They were sent through an international messaging system for banking called SWIFT, which is used to pass instructions among banks globally to transfer funds. The PNB officials allegedly sent these messages to Indian banks -- Canara Bank, State Bank of India, Bank of India, Axis Bank, Allahabad bank -- located in Antwerp, Hong Kong, Bahrain, Mauritius, Frankfurt without making entries in the banking software about the LoUs. Upon receiving the messages from PNB under SWIFT, the banks abroad transferred these amounts into NOSTRO account of PNB with them. Nostro account is an account that a bank holds in a foreign currency in another bank to enable foreign trade by its clients. (With inputs from agencies)

PNB scam: CBI arrests 4 more officials of Modi, Choksi companies

An official of Punjab National Bank received gold and diamond jewellery from billionaire jeweller <a href="http://www.wionews.com/india-news/pnb-scam-my-fate-was-pre-determined-says-nirav-modi-34566">Nirav Modi</a> accused of being involved in a $2 billion bank fraud, the Central Bureau of Investigation (CBI)told a court on Saturday.

The state lender in January uncovered the alleged fraud in which several bank officials were suspected of colluding with jeweller Nirav Modi and his uncle Mehul Choksi to issue fraudulent letters of undertakings (LoUs), for their companies to raise loans from overseas branches of mostly Indian banks.

The CBI, which has arrested 14 people in the case, on Saturday for the first time said bribes were paid to at least one Punjab National Bank (PNB) official by Modi.

The agency told the court that Yashwant Joshi, who worked as a manager in the forex department of the Mumbai branch that is at the centre of the fraud, admitted to having received two gold coins weighing 60 grams and a pair of gold and diamond earrings from Modi.

The articles have been recovered from Joshi&#39;s house in the presence of independent witnesses, the CBI said.

&quot;This indicates that he was in collusion with the beneficiary accused persons to cheat the bank,&quot; CBI Inspector D. Damodaran said in a court filing. &quot;He also obtained illegal gratification from the beneficiary party for continuing issuance of fraudulent LoUs.&quot;

Joshi, who was committed to judicial custody by the Mumbai court along with four other PNB officials and an associate of Modi, could not be contacted for comment.

Modi and Choksi, who owns Gitanjali Gems Ltd, left India before the fraud came to light, but have said in letters and statements they were innocent.

PNB, the country&#39;s second-biggest state lender, has mainly accused two low-level employees of the Brady House branch of issuing the LoUs without making corresponding entries in the bank&#39;s main software, helping the fraud to go undetected for years.

The CBI, however, has expanded its investigation and arrested two internal auditors of the branch, among others.

Separately, TV channels reported that another Mumbai court on Saturday issued non-bailable warrants against Modi and Choksi following an appeal by the Enforcement Directorate (ED), an agency focused on foreign exchange and money laundering offences.

&quot;Modi appears to be the prima donna in the whole saga of the fraud perpetrated on the PNB,&quot; the directorate said in a filing to the court seen by Reuters.

&quot;The case involves a circuitous web of routes created by the said Modi and in such circumstances, the fraudulent transactions appear to be in the personal knowledge and exclusive domain of Nirav Modi&quot;.

Modi has yet to be tracked by the authorities, but the ED said &quot;reportedly, Modi is presently in Hong Kong&quot;. The agency has already seized various properties of Modi and Choksi, as banks assess the hit to them from the fraud.

State Bank of India and two other state-run banks, Union Bank of India and Allahabad Bank, are lenders who had extended credit based on the LoUs issued by PNB that were later found to be fraudulent. Allahabad Bank said on Saturday it had a $366.87 million exposure to the case.

An official of Punjab National Bank received gold and diamond jewellery from billionaire jeweller Nirav Modi accused of being involved in a $2 billion bank fraud, the CBI told a court on Saturday

An official of Punjab National Bank received gold and diamond jewellery from billionaire jeweller Nirav Modi accused of being involved in a $2 billion bank fraud, the Central Bureau of Investigation (CBI)told a court on Saturday. The state lender in January uncovered the alleged fraud in which several bank officials were suspected of colluding with jeweller Nirav Modi and his uncle Mehul Choksi to issue fraudulent letters of undertakings (LoUs), for their companies to raise loans from overseas branches of mostly Indian banks. The CBI, which has arrested 14 people in the case, on Saturday for the first time said bribes were paid to at least one Punjab National Bank (PNB) official by Modi. The agency told the court that Yashwant Joshi, who worked as a manager in the forex department of the Mumbai branch that is at the centre of the fraud, admitted to having received two gold coins weighing 60 grams and a pair of gold and diamond earrings from Modi. The articles have been recovered from Joshi's house in the presence of independent witnesses, the CBI said. "This indicates that he was in collusion with the beneficiary accused persons to cheat the bank," CBI Inspector D. Damodaran said in a court filing. "He also obtained illegal gratification from the beneficiary party for continuing issuance of fraudulent LoUs." Joshi, who was committed to judicial custody by the Mumbai court along with four other PNB officials and an associate of Modi, could not be contacted for comment. Modi and Choksi, who owns Gitanjali Gems Ltd, left India before the fraud came to light, but have said in letters and statements they were innocent. PNB, the country's second-biggest state lender, has mainly accused two low-level employees of the Brady House branch of issuing the LoUs without making corresponding entries in the bank's main software, helping the fraud to go undetected for years. The CBI, however, has expanded its investigation and arrested two internal auditors of the branch, among others. Separately, TV channels reported that another Mumbai court on Saturday issued non-bailable warrants against Modi and Choksi following an appeal by the Enforcement Directorate (ED), an agency focused on foreign exchange and money laundering offences. "Modi appears to be the prima donna in the whole saga of the fraud perpetrated on the PNB," the directorate said in a filing to the court seen by Reuters. "The case involves a circuitous web of routes created by the said Modi and in such circumstances, the fraudulent transactions appear to be in the personal knowledge and exclusive domain of Nirav Modi". Modi has yet to be tracked by the authorities, but the ED said "reportedly, Modi is presently in Hong Kong". The agency has already seized various properties of Modi and Choksi, as banks assess the hit to them from the fraud. State Bank of India and two other state-run banks, Union Bank of India and Allahabad Bank, are lenders who had extended credit based on the LoUs issued by PNB that were later found to be fraudulent. Allahabad Bank said on Saturday it had a $366.87 million exposure to the case.

PNB fraud: CBI says Nirav Modi gave gold bribes 

Amid the investigation by various probe agencies in Punjab National Bank scam case, accused Nirav Modi sent an email to Enforcement Directorate to ask about the reasons for suspending his passport.

&quot;Passport authority suspended my passport. Meanwhile, you asked me to join probe . Wrote to Passport authority requesting it to provide me reasons of suspension &amp; proposed revocation. Surprisingly, within minutes of my reply ,authority revoked my passport&quot;.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/pnb-scam-cannot-confirm-nirav-modi-is-here-says-us-34468">Cannot confirm Nirav Modi is here, says&nbsp;</a><a href="http://www.wionews.com/india-news/pnb-scam-cannot-confirm-nirav-modi-is-here-says-us-34468">US</a>

He accused system for&nbsp;disregarding the law and said that his&nbsp;&#39;&#39;fate was already decided&quot;.

&#39;&#39;The lightning speed in which the authority has acted clearly shows that the action itself was pre-determined. My fate was already decided&#39;&#39;.

Nirav Modi also stated reasons for not cooperating with the probe in India; he said that he is still &#39;&#39;working abroad and engaged in trying to deal with businesses.&#39;&#39;

Also read:&nbsp;<a href="http://www.wionews.com/india-news/pnb-fraud-internal-chief-auditor-of-punjab-national-bank-arrested-34-more-bank-accounts-of-gitanjali-group-attached-34366">PNB&#39;s Internal Chief Auditor arrested, 34 more bank accounts of Gitanjali Group attached</a>

&#39;&#39;Still working abroad as I continue to be very engaged in trying to deal with businesses that I am involved with outside of India. Trying to ensure that so far as possible the position of these business creditors(including banks)&amp; employees are properly considered&#39;&#39;.

Nirav Modi and and Mehul Choksir are being investigated by probe agencies after Punjab National Bank filed a complaint of fraudulent transactions of&nbsp;Rs 12,000 crores occurred&nbsp;through acquiring fake letters of undertaking.&nbsp;&nbsp;

Also read:&nbsp;<a href="http://www.wionews.com/india-news/we-have-businesses-abroad-so-i-cant-join-investigations-nirav-modi-replies-to-cbis-mail-34348">We have businesses abroad so I can&#39;t join investigations says Nirav Modi to CBI&#39;s mail</a>

They allegedly acquired fraudulent letters of undertaking (LoUs) were taken&nbsp;from its the banks Brady House branch in Mumbai&nbsp;for overseas credit from other lenders.

The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have registered two FIRs each in this case.

A special Prevention of <a href="http://www.wionews.com/india-news/pnb-scam-special-pmla-court-issues-non-bailable-warrant-against-nirav-modi-and-mehul-choksi-34551">Money Laundering (PMLA) Court in Mumbai has also issued a non-bailable warrant </a>against Nirav Modi and Mehul Choksi on Saturday.

Amid the investigation by various probe agencies in Punjab National Bank scam case, accused Nirav Modi sent an email to Enforcement Directorate to ask about the reasons for suspending his passport

Amid the investigation by various probe agencies in Punjab National Bank scam case, accused Nirav Modi sent an email to Enforcement Directorate to ask about the reasons for suspending his passport. "Passport authority suspended my passport. Meanwhile, you asked me to join probe . Wrote to Passport authority requesting it to provide me reasons of suspension & proposed revocation. Surprisingly, within minutes of my reply ,authority revoked my passport". Also read: Cannot confirm Nirav Modi is here, says US He accused system for disregarding the law and said that his ''fate was already decided". ''The lightning speed in which the authority has acted clearly shows that the action itself was pre-determined. My fate was already decided''. Nirav Modi also stated reasons for not cooperating with the probe in India; he said that he is still ''working abroad and engaged in trying to deal with businesses.'' Also read: PNB's Internal Chief Auditor arrested, 34 more bank accounts of Gitanjali Group attached ''Still working abroad as I continue to be very engaged in trying to deal with businesses that I am involved with outside of India. Trying to ensure that so far as possible the position of these business creditors(including banks)& employees are properly considered''. Nirav Modi and and Mehul Choksir are being investigated by probe agencies after Punjab National Bank filed a complaint of fraudulent transactions of Rs 12,000 crores occurred through acquiring fake letters of undertaking. Also read: We have businesses abroad so I can't join investigations says Nirav Modi to CBI's mail They allegedly acquired fraudulent letters of undertaking (LoUs) were taken from its the banks Brady House branch in Mumbai for overseas credit from other lenders. The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have registered two FIRs each in this case. A special Prevention of Money Laundering (PMLA) Court in Mumbai has also issued a non-bailable warrant against Nirav Modi and Mehul Choksi on Saturday.

PNB scam: 'My fate was pre-determined' says Nirav Modi

<a href="http://www.wionews.com/india-news/pnb-scam-cannot-confirm-nirav-modi-is-here-says-us-34468">PNB scam: Cannot confirm Nirav Modi is here, says </a><a href="http://www.wionews.com/india-news/pnb-scam-cannot-confirm-nirav-modi-is-here-says-us-34468">US</a>

The United States government is aware of media reports that diamond jeweller Nirav Modi is in the country but is unable to confirm them, a State Department official said today.

<a href="http://www.wionews.com/india-news/p-chidambaram-tells-son-karti-dont-worry-im-there-34469">P Chidambaram tells son Karti: &#39;Don&#39;t worry, I&#39;m there&#39;</a>

&quot;Don&#39;t worry, I am there,&quot; former Finance Minister P. Chidambaram reportedly told his son Karti who has been sent to 5-day police custody in connection with the INX Media money laundering case.&nbsp;

<a href="http://www.wionews.com/world/putin-before-vote-unveils-invincible-nuclear-weapons-to-counter-west-34466">Putin, before vote, unveils &#39;invincible&#39; nuclear weapons to counter West</a>

President Vladimir Putin announced an array of new nuclear weapons on Thursday, in one of his most bellicose speeches in years, saying they could hit almost any point in the world and evade a U.S.-built missile shield.

<a href="http://www.wionews.com/india-news/khalistan-terrorist-fiasco-follows-trudeau-back-to-canada-34472">Khalistan terrorist &#39;fiasco&#39; follows Trudeau back to Canada</a>

Canada&#39;s Prime Minister Justin Trudeau faced persistent criticism Thursday over a convicted Sikh extremist&#39;s attendance at a Canadian event in Mumbai, nearly a week after the premier&#39;s return from a trip to India.

<a href="http://www.wionews.com/world/for-peace-talks-taliban-must-quit-violence-us-34471">For peace talks, Taliban must quit violence: US</a>

The Taliban needs to support the Afghan constitution and abandon terror and violence if it wants peace talks with the US, said Pentagon&#39;s Chief Spokesperson Dana White. White made the comment in reply to the Taliban&#39;s call for direct talks to find a peaceful solution to the conflict in Afghanistan.

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PNB scam: Cannot confirm Nirav Modi is here, says US The United States government is aware of media reports that diamond jeweller Nirav Modi is in the country but is unable to confirm them, a State Department official said today. P Chidambaram tells son Karti: 'Don't worry, I'm there' "Don't worry, I am there," former Finance Minister P. Chidambaram reportedly told his son Karti who has been sent to 5-day police custody in connection with the INX Media money laundering case. Putin, before vote, unveils 'invincible' nuclear weapons to counter West President Vladimir Putin announced an array of new nuclear weapons on Thursday, in one of his most bellicose speeches in years, saying they could hit almost any point in the world and evade a U.S.-built missile shield. Khalistan terrorist 'fiasco' follows Trudeau back to Canada Canada's Prime Minister Justin Trudeau faced persistent criticism Thursday over a convicted Sikh extremist's attendance at a Canadian event in Mumbai, nearly a week after the premier's return from a trip to India. For peace talks, Taliban must quit violence: US The Taliban needs to support the Afghan constitution and abandon terror and violence if it wants peace talks with the US, said Pentagon's Chief Spokesperson Dana White. White made the comment in reply to the Taliban's call for direct talks to find a peaceful solution to the conflict in Afghanistan.

WION Morning News Brief, March 2, 2018

The United States government is aware of media reports that diamond jeweller Nirav Modi is in the country but is unable to confirm them, a State Department official said today.

&quot;We are aware of recent media reports that Nirav Modi is in the United States but cannot confirm them,&quot; the spokesperson told PTI when asked about reports that the Indian businessman is in New York.

Asked if the department is providing any assistance to the Indian government in tracing Modi, the spokesperson said, &quot;We refer you to the Department of Justice for questions on legal assistance to the Indian authorities in relation to their investigation of Mr. Modi&quot;.

The Department of Justice declined to comment on Modi.

Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies following a complaint by the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 12,000 crore, with the purported involvement of a few employees of the bank.

They allegedly acquired fraudulent letters of undertaking (LoUs) from its Brady House branch in Fort area for overseas credit from other lenders.

The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have registered two FIRs each in this case.

Modi, his family, and Choksi, the promoter of Gitanjali Gems, left the country in early January, much before the CBI received a complaint from the PNB.

On being asked by the CBI to join its investigation into the alleged fraud, Modi refused, saying he has &quot;business abroad&quot;.

The CBI then directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged.

A Look Out Circular (LoC), also known as a blue corner notice, has already been issued against Modi and Choksi to keep a tab on their entry at all land, air and sea ports in India.&nbsp;

'We are aware of recent media reports that Nirav Modi is in the United States but cannot confirm them,' a State Department spokesperson said

The United States government is aware of media reports that diamond jeweller Nirav Modi is in the country but is unable to confirm them, a State Department official said today. "We are aware of recent media reports that Nirav Modi is in the United States but cannot confirm them," the spokesperson told PTI when asked about reports that the Indian businessman is in New York. Asked if the department is providing any assistance to the Indian government in tracing Modi, the spokesperson said, "We refer you to the Department of Justice for questions on legal assistance to the Indian authorities in relation to their investigation of Mr. Modi". The Department of Justice declined to comment on Modi. Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies following a complaint by the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 12,000 crore, with the purported involvement of a few employees of the bank. They allegedly acquired fraudulent letters of undertaking (LoUs) from its Brady House branch in Fort area for overseas credit from other lenders. The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have registered two FIRs each in this case. Modi, his family, and Choksi, the promoter of Gitanjali Gems, left the country in early January, much before the CBI received a complaint from the PNB. On being asked by the CBI to join its investigation into the alleged fraud, Modi refused, saying he has "business abroad". The CBI then directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged. A Look Out Circular (LoC), also known as a blue corner notice, has already been issued against Modi and Choksi to keep a tab on their entry at all land, air and sea ports in India.

PNB scam: Cannot confirm Nirav Modi is here, says US

The Enforcement Directorate on Thursday attached 41 properties of Mehul Choksi of the Gitanjali Group, worth Rs 1,217 crore, in connection with an ongoing probe into the Rs 11,400 crore Punjab National Bank fraud case.

The central probe agency issued a provisional order for attachment under the Prevention of Money Laundering Act (PMLA).&nbsp;

The attached assets include 15 flats and 17 office premises in Mumbai, a mall in Kolkata, a four-acre farmhouse in Alibaug and 231 acres of land at locations like Nasik, Nagpur, Panvel and Villupuram in Tamil Nadu.&nbsp;

A 170-acre park in Hyderabad&#39;s Ranga Reddy district valued at over Rs 500 crore has also been attached, it said.&nbsp;

Four flats in Borivali (east) area of the Maharashtra capital and nine others in Khemu Towers in Santacruz (east) have been attached as part of the action.&nbsp;

&quot;The total value of the 41 seized assets controlled by Choksi has estimated at Rs 1,217.2 crore,&quot; the ED said.&nbsp;

Mr. Choksi and designer diamond jewellery businessman Nirav Modi and others are being investigated by the ED and other probe agencies after the bank fraud recently came to light, following a complaint by the PNB that they 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 CBI and the ED have registered two FIRs each to probe the case. Both Mr Choksi and Mr Modi are said to have left the country before criminal cases were lodged against them. They have, however, denied any wrongdoing.

The ED, a central probe agency under the union finance ministry, is investigating if the allegedly defrauded bank funds were laundered and proceeds of crime were subsequently used by the accused to create illegal assets and black money.

(With inputs from PTI)

The CBI, which is also part of the investigation, had registered an FIR against Choksi for allegedly defrauding Punjab National Bank of over Rs 6,100 crore

The Enforcement Directorate on Thursday attached 41 properties of Mehul Choksi of the Gitanjali Group, worth Rs 1,217 crore, in connection with an ongoing probe into the Rs 11,400 crore Punjab National Bank fraud case. The central probe agency issued a provisional order for attachment under the Prevention of Money Laundering Act (PMLA). The attached assets include 15 flats and 17 office premises in Mumbai, a mall in Kolkata, a four-acre farmhouse in Alibaug and 231 acres of land at locations like Nasik, Nagpur, Panvel and Villupuram in Tamil Nadu. A 170-acre park in Hyderabad's Ranga Reddy district valued at over Rs 500 crore has also been attached, it said. Four flats in Borivali (east) area of the Maharashtra capital and nine others in Khemu Towers in Santacruz (east) have been attached as part of the action. "The total value of the 41 seized assets controlled by Choksi has estimated at Rs 1,217.2 crore," the ED said. Mr. Choksi and designer diamond jewellery businessman Nirav Modi and others are being investigated by the ED and other probe agencies after the bank fraud recently came to light, following a complaint by the PNB that they 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 CBI and the ED have registered two FIRs each to probe the case. Both Mr Choksi and Mr Modi are said to have left the country before criminal cases were lodged against them. They have, however, denied any wrongdoing. The ED, a central probe agency under the union finance ministry, is investigating if the allegedly defrauded bank funds were laundered and proceeds of crime were subsequently used by the accused to create illegal assets and black money. (With inputs from PTI)

PNB scam: ED attaches 41 properties worth Rs 1217.20 crore of Mehul Choksi

Diamantaire Nirav Modi, who figures at the centre of the Rs 11,400 crore mega PNB scam, has finally replied to the CBI&#39;s mail saying that he is unable to join the investigations owing to business abroad. He also denied any wrongdoing.&nbsp;

The CBI had written to Nirav Modi on his official email address asking him to join the investigations.

According to reports, the CBI wrote to Nirav Modi again asking him to contact the High Commission of the concerned country. The CBI also stated that it will arrange for his travel back to India.&nbsp;

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CBI on <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a>: CBI wrote a mail to Nirav Modi on his official email address asking him to join the investigation. He replied, we have a businesses abroad so I can&#39;t join investigation. <a href="https://t.co/Ei9N67Vfg6">pic.twitter.com/Ei9N67Vfg6</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/968817128039157760?ref_src=twsrc%5Etfw">February 28, 2018</a></blockquote>
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The CBI has called out to Nirav Modi directing him to join the investigations next week.

Meanwhile, the Investigation bureau added that it did not know Modi&#39;s whereabouts. The agency earlier said he left India in January before the $2 billion fraud, which also involves a firm controlled by his uncle Mehul Choksi, came to light.

(With inputs from agencies)

CBI had written to Nirav Modi on his official email address asking him to join the investigation

Diamantaire Nirav Modi, who figures at the centre of the Rs 11,400 crore mega PNB scam, has finally replied to the CBI's mail saying that he is unable to join the investigations owing to business abroad. He also denied any wrongdoing. The CBI had written to Nirav Modi on his official email address asking him to join the investigations. According to reports, the CBI wrote to Nirav Modi again asking him to contact the High Commission of the concerned country. The CBI also stated that it will arrange for his travel back to India. CBI on #NiravModi: CBI wrote a mail to Nirav Modi on his official email address asking him to join the investigation. He replied, we have a businesses abroad so I can't join investigation. pic.twitter.com/Ei9N67Vfg6 — ANI (@ANI) February 28, 2018 × The CBI has called out to Nirav Modi directing him to join the investigations next week. Meanwhile, the Investigation bureau added that it did not know Modi's whereabouts. The agency earlier said he left India in January before the $2 billion fraud, which also involves a firm controlled by his uncle Mehul Choksi, came to light. (With inputs from agencies)

We have businesses abroad so I can't join investigations: Nirav Modi replies to CBI's mail

The Central Bureau of Investigation has registered a case of bank loan fraud against RP Infosystem and its directors.&nbsp;

The fraud is thought to be worth Rs 515.15 crore

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Central Bureau of Investigation (CBI) registered a case of bank fraud worth Rs 515.15 crores against RP Infosystem &amp; its directors
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/968751731080355842?ref_src=twsrc%5Etfw">February 28, 2018</a></blockquote>
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RP Infosystems manufactures personal computers and is based out of Kolkata.&nbsp;

Punjab National Bank had earlier this month reported fraudulent transactions worth Rs 11,400 crore from a single Mumbai branch. The bank has since said the total amount scammed might be <a href="http://www.wionews.com/india-news/pnb-fraud-bank-says-scam-amount-could-be-rs-1300-crore-higher-34155" target="_blank">Rs 1,300 crore more</a>.&nbsp;

Billionaire diamantaire Nirav Modi, who has become the face of the scam, is accused of defrauding the bank of Rs 280 crore.&nbsp;

RP Infosystems manufactures personal computers and is based out of Kolkata

The Central Bureau of Investigation has registered a case of bank loan fraud against RP Infosystem and its directors. The fraud is thought to be worth Rs 515.15 crore Central Bureau of Investigation (CBI) registered a case of bank fraud worth Rs 515.15 crores against RP Infosystem & its directors — ANI (@ANI) February 28, 2018 × RP Infosystems manufactures personal computers and is based out of Kolkata. Punjab National Bank had earlier this month reported fraudulent transactions worth Rs 11,400 crore from a single Mumbai branch. The bank has since said the total amount scammed might be Rs 1,300 crore more. Billionaire diamantaire Nirav Modi, who has become the face of the scam, is accused of defrauding the bank of Rs 280 crore.

CBI registers Rs 515.15 crore bank loan fraud case against RP Infosystem, directors

Firestar Diamond Inc, the flagship company of billionaire Nirav Modi who is at the centre of India&#39;s biggest-ever bank scam, has filed for bankruptcy in the United States.

The company has listed assets and liabilities in the range of $50 million to $100 million, according to a court filing in the Southern District Of New York on Monday.

Indian state-run lender Punjab National Bank had earlier this month unearthed fraudulent transactions at one of its Mumbai branches, the amount of which could now be about $2 billion.

Modi, founder of Firestar Diamond, and his uncle Mehul Choksi, who owns Gitanjali Gems Ltd, are suspected of colluding with two employees from Punjab National Bank in the fraud.

The company has listed assets and liabilities in the range of $50 million to $100 million, according to a court filing in the Southern District Of New York on Monday.

Firestar Diamond Inc, the flagship company of billionaire Nirav Modi who is at the centre of India's biggest-ever bank scam, has filed for bankruptcy in the United States. The company has listed assets and liabilities in the range of $50 million to $100 million, according to a court filing in the Southern District Of New York on Monday. Indian state-run lender Punjab National Bank had earlier this month unearthed fraudulent transactions at one of its Mumbai branches, the amount of which could now be about $2 billion. Modi, founder of Firestar Diamond, and his uncle Mehul Choksi, who owns Gitanjali Gems Ltd, are suspected of colluding with two employees from Punjab National Bank in the fraud.

Nirav Modi's Firestar Diamond files for bankruptcy in the United States

The finance ministry on Tuesday set a 15-day deadline for state banks to take pre-emptive action against operational and technical risks, following a $2 billion fraud at the country&#39;s second-biggest state lender.

Rajeev Kumar, the secretary in the department of financial services, said in a tweet that state-run banks have 15 days to &quot;take pre-emptive action and identify gaps/weaknesses&quot; to tackle rising operational and technical risks.

Besides fixing &quot;clear accountability&quot; of senior officials, the banks must also learn from best practices and pinpoint strategies including technical solutions, Kumar added.

State-run Punjab National Bank (PNB) this month disclosed a $2 billion fraud, stunning the country and putting the lack of supervisory oversight by the central bank and auditors under the spotlight.

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Besides fixing 'clear accountability' of senior officials, the banks must also learn from best practices and pinpoint strategies including technical solutions, Financial Services Secretary Rajeev Kumar said

The finance ministry on Tuesday set a 15-day deadline for state banks to take pre-emptive action against operational and technical risks, following a $2 billion fraud at the country's second-biggest state lender. Rajeev Kumar, the secretary in the department of financial services, said in a tweet that state-run banks have 15 days to "take pre-emptive action and identify gaps/weaknesses" to tackle rising operational and technical risks. Besides fixing "clear accountability" of senior officials, the banks must also learn from best practices and pinpoint strategies including technical solutions, Kumar added. State-run Punjab National Bank (PNB) this month disclosed a $2 billion fraud, stunning the country and putting the lack of supervisory oversight by the central bank and auditors under the spotlight.

PNB scam: Fix operational gaps in 15 days, Finance Ministry tells state-run banks

The Central Bureau of Investigation (CBI) on Tuesday called in for questioning Punjab National Bank (PNB) Executive Director NS Kannan in the biggest fraud in India&rsquo;s banking history that has come to light.

Hours after Kannan&#39;s grilling session, ICICI issued a clarification saying the bank has no exposure to the Nirav Modi group of companies.

&quot;We have not issued any Letter of Undertaking (LOU) nor do we have any buyer&rsquo;s credit exposure against LOUs with respect to the Nirav Modi group of companies as well as the Gitanjali group of companies,&quot; the statement said.

The bank said it is working capital lenders to the Gitanjali group of companies along with several other banks in the consortium, adding their exposure is not the largest among lenders in the consortium.

They assured complete cooperation to the investigating agency.&nbsp;

Earlier CBI revealed that the PNB has informed the CBI that it has unearthed a further scam of Rs 1,251 crore which has been associated with the gems and jewellery company Gitanjali Gems, promoted by another key accused Mehul Choksi.

With the new revelations surfacing, the CBI has revised its estimate for total money that was siphoned off in the fraud.

&nbsp;It is now probing a Rs 12,636 crore scam which is the collective fraud committed by Nirav Modi and Gitanjali Gems brands, up from an earlier fraud of Rs 11,421 crore.

The statement was issued hours after Kannan was grilled by CBI

The Central Bureau of Investigation (CBI) on Tuesday called in for questioning Punjab National Bank (PNB) Executive Director NS Kannan in the biggest fraud in India’s banking history that has come to light. Hours after Kannan's grilling session, ICICI issued a clarification saying the bank has no exposure to the Nirav Modi group of companies. "We have not issued any Letter of Undertaking (LOU) nor do we have any buyer’s credit exposure against LOUs with respect to the Nirav Modi group of companies as well as the Gitanjali group of companies," the statement said. The bank said it is working capital lenders to the Gitanjali group of companies along with several other banks in the consortium, adding their exposure is not the largest among lenders in the consortium. They assured complete cooperation to the investigating agency. Earlier CBI revealed that the PNB has informed the CBI that it has unearthed a further scam of Rs 1,251 crore which has been associated with the gems and jewellery company Gitanjali Gems, promoted by another key accused Mehul Choksi. With the new revelations surfacing, the CBI has revised its estimate for total money that was siphoned off in the fraud. It is now probing a Rs 12,636 crore scam which is the collective fraud committed by Nirav Modi and Gitanjali Gems brands, up from an earlier fraud of Rs 11,421 crore.

PNB scam: Have no exposure to Nirav Modi group of companies, says ICICI

Shares of Punjab National Bank today slumped as much as 9 per cent to hit their 52-week low level in morning trade on bourses after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore.

The&nbsp;company&#39;s shares opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE.

Similar movement was seen on the NSE too, where the stock opened at Rs 106.80, then fell to its 52-week low of Rs 102, down 8.92 per cent over its previous close.

Amid the multi-agency probe into the PNB scam, the state-run bank yesterday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore.

On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders.

&quot;We have to inform that quantum of reported unauthorised transactions can increase by&nbsp;$204.25 million (approximately),&quot; the filing said.

At the current exchange rate, the amount comes to around Rs 1,323 crore.&nbsp;

The company's shares opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE

Shares of Punjab National Bank today slumped as much as 9 per cent to hit their 52-week low level in morning trade on bourses after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore. The company's shares opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE. Similar movement was seen on the NSE too, where the stock opened at Rs 106.80, then fell to its 52-week low of Rs 102, down 8.92 per cent over its previous close. Amid the multi-agency probe into the PNB scam, the state-run bank yesterday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore. On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders. "We have to inform that quantum of reported unauthorised transactions can increase by $204.25 million (approximately)," the filing said. At the current exchange rate, the amount comes to around Rs 1,323 crore.

PNB scam: Punjab National Bank stock slumps 9% to hit 52-week low

In the wake of the alleged multi-million scam involving jeweller Nirav Modi and his family, Punjab National Bank (PNB) Tuesday appointed AK Pradhan as the Group Chief Risk Officer.

He currently holds the post of General Manager.

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Punjab National Bank appoints A.K. Pradhan as Group Chief Risk Officer. <a href="https://t.co/HVMdHmFqYW">pic.twitter.com/HVMdHmFqYW</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/968490281711624192?ref_src=twsrc%5Etfw">February 27, 2018</a></blockquote>
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The move comes soon after the finance ministry today set a 15-day deadline to state-run banks to take action to improve their oversight of operational and technological risks

Earlier today, the Central Bureau of Investigation (CBI) said PNB has informed the agency has detected a further scam of Rs 1,251 crore in respect to Gitanjali Gems.

&quot;PNB has informed us that further scam of Rs 1,251 crore has been detected in respect to Gitanjali Gems. CBI is now probing Rs 12,636 crore which is (Nirav and Gitanjali) PNB scam, up from Rs 11,421 crore,&quot; said CBI.

In a related development, PNB&#39;s former managing director Usha Ananthasubramanian was questioned today in Mumbai.&nbsp;

The two serving General Managers were also called for questioning. 
&nbsp;

He currently holds the post of General Manager

In the wake of the alleged multi-million scam involving jeweller Nirav Modi and his family, Punjab National Bank (PNB) Tuesday appointed AK Pradhan as the Group Chief Risk Officer. He currently holds the post of General Manager. Punjab National Bank appoints A.K. Pradhan as Group Chief Risk Officer. pic.twitter.com/HVMdHmFqYW — ANI (@ANI) February 27, 2018 × The move comes soon after the finance ministry today set a 15-day deadline to state-run banks to take action to improve their oversight of operational and technological risks Earlier today, the Central Bureau of Investigation (CBI) said PNB has informed the agency has detected a further scam of Rs 1,251 crore in respect to Gitanjali Gems. "PNB has informed us that further scam of Rs 1,251 crore has been detected in respect to Gitanjali Gems. CBI is now probing Rs 12,636 crore which is (Nirav and Gitanjali) PNB scam, up from Rs 11,421 crore," said CBI. In a related development, PNB's former managing director Usha Ananthasubramanian was questioned today in Mumbai. The two serving General Managers were also called for questioning.

PNB scam: Bank appoints AK Pradhan as Group Chief Risk Officer

Amid the multi-agency probe into the PNB scam, the state-run bank on Monday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore.

The latest announcement from the public sector lender assumes significance against the backdrop of the probe going on into the Rs 11,400 crore scam, which is already one of the biggest in the Indian banking sector.

On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders.

In a filing to the BSE late tonight, the bank said the amount of unauthorised transactions could go up by more than Rs 1,300 crore.

&quot;...We have to inform that quantum of reported unauthorised transactions can increase by $ 204.25 million (approximately),&quot; the filing said.

At the current exchange rate, the amount comes to around Rs 1,323 crore.

The bank also referred to its filing made on February 14 when it first disclosed the fraud and at that time, the &quot;fraudulent and unauthorised transactions&quot; was estimated at $ 1.77 billion (about Rs 11,400 crore).

The scam was perpetrated by way of fraudulent Letters of Undertaking (LoUs) generated in the name of Punjab National Bank.&nbsp;

The Rs 11,400 crore scam is already one of the biggest in the Indian banking sector

Amid the multi-agency probe into the PNB scam, the state-run bank on Monday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore. The latest announcement from the public sector lender assumes significance against the backdrop of the probe going on into the Rs 11,400 crore scam, which is already one of the biggest in the Indian banking sector. On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders. In a filing to the BSE late tonight, the bank said the amount of unauthorised transactions could go up by more than Rs 1,300 crore. "...We have to inform that quantum of reported unauthorised transactions can increase by $ 204.25 million (approximately)," the filing said. At the current exchange rate, the amount comes to around Rs 1,323 crore. The bank also referred to its filing made on February 14 when it first disclosed the fraud and at that time, the "fraudulent and unauthorised transactions" was estimated at $ 1.77 billion (about Rs 11,400 crore). The scam was perpetrated by way of fraudulent Letters of Undertaking (LoUs) generated in the name of Punjab National Bank.

PNB fraud: Bank says scam amount could be Rs 1,300 crore higher

The income tax department has attached 66 more bank accounts of the Mehul Choksi-owned Gitanjali Group having a total credit balance of Rs 80.07 crores, I-T sources said on Monday.&nbsp;

A search and survey action was initiated at four locations of Mehul Choksi&#39;s uncle and business partner Nirav Modi in Mumbai on February 22, I-T sources said.

At one location, 173 paintings and artworks by eminent artists were found and are currently undergoing valuation by professionals.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/top-independent-director-anil-umesh-haldipur-resigns-from-gitanjali-gems-board-34144">Top independent director Anil Umesh Haldipur resigns from Gitanjali Gems board</a>

Mehul Choksi and Nirav Modi are accused of cheating the Punjab National Bank (PNB) of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

They are currently being investigated by the Enforcement Directorate and other probe agencies following a complaint by the nationalised bank. 
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Mehul Choksi and Nirav Modi are accused of cheating the Punjab National Bank (PNB) of Rs 11,400 crore, with the purported involvement of a few employees of the bank

The income tax department has attached 66 more bank accounts of the Mehul Choksi-owned Gitanjali Group having a total credit balance of Rs 80.07 crores, I-T sources said on Monday. A search and survey action was initiated at four locations of Mehul Choksi's uncle and business partner Nirav Modi in Mumbai on February 22, I-T sources said. At one location, 173 paintings and artworks by eminent artists were found and are currently undergoing valuation by professionals. Also read: Top independent director Anil Umesh Haldipur resigns from Gitanjali Gems board Mehul Choksi and Nirav Modi are accused of cheating the Punjab National Bank (PNB) of Rs 11,400 crore, with the purported involvement of a few employees of the bank. They are currently being investigated by the Enforcement Directorate and other probe agencies following a complaint by the nationalised bank.

66 more bank accounts of Gitanjali Group frozen: Sources

The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in connection with the 1.77 billion dollar (Rs 11,400 crores) Punjab National Bank (PNB) fraud.

As per an official release, the properties, attached as per the provisions of the Prevention of Money Laundering Act, 2002, possess a total market value of Rs 523.72 crore.

The said properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune.

The PNB detected a 1.77 billion dollar (Rs 11,400) scam earlier this month, in which noted jewellery designer Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.

Also read: <a href="http://www.wionews.com/india-news/letter-written-to-gain-clarity-on-the-situation-mehul-choksis-lawyer-33922">MEA revokes Mehul Choksi, Nirav Modi&#39;s passports</a>

Choksi, Modi&#39;s uncle, is also being probed for his involvement in the fraud.

PNB thereafter lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Nirav Modi, his family members and the owner of Gitanjali Gems.

After the case was registered, the ED and the Central Bureau of Investigation (CBI) have swung into action.

On Thursday, the Income Tax (IT) Department attached the special economic zone (SEZ) property of Mehul Choksi&#39;s Gitanjali Group in Hyderabad, sources at the department said.

As per the assessee&#39;s own valuation, the property is worth about Rs 1200 crore.Meanwhile, the ED on Friday froze assets of Nirav Modi worth Rs. 43.86 crore.&nbsp;

 
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The properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune

The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in connection with the 1.77 billion dollar (Rs 11,400 crores) Punjab National Bank (PNB) fraud. As per an official release, the properties, attached as per the provisions of the Prevention of Money Laundering Act, 2002, possess a total market value of Rs 523.72 crore. The said properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune. The PNB detected a 1.77 billion dollar (Rs 11,400) scam earlier this month, in which noted jewellery designer Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders. Also read: MEA revokes Mehul Choksi, Nirav Modi's passports Choksi, Modi's uncle, is also being probed for his involvement in the fraud. PNB thereafter lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Nirav Modi, his family members and the owner of Gitanjali Gems. After the case was registered, the ED and the Central Bureau of Investigation (CBI) have swung into action. On Thursday, the Income Tax (IT) Department attached the special economic zone (SEZ) property of Mehul Choksi's Gitanjali Group in Hyderabad, sources at the department said. As per the assessee's own valuation, the property is worth about Rs 1200 crore.Meanwhile, the ED on Friday froze assets of Nirav Modi worth Rs. 43.86 crore.

PNB scam: ED attaches Nirav Modi's property of over Rs 500 crores

Global star Priyanka Chopra terminated her contract with celebrity jeweller <a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970" target="_blank">Nirav Modi</a> and stepped down as a brand ambassador, as reported by news agency ANI Friday.&nbsp;

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In light of recent allegations, Priyanka Chopra has chosen to terminate her contract with the <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a> brand: Priyanka Chopra&#39;s spokesperson (File Pic) <a href="https://t.co/NnXYBeYc0Q">pic.twitter.com/NnXYBeYc0Q</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/966964100776579072?ref_src=twsrc%5Etfw">February 23, 2018</a></blockquote>
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This comes in the wake of Nirav Modi committing a fraud worth Rs. 11,300 crore with Punjab National Bank (PNB).&nbsp;

The bank is now trying to recover dues from the jeweller who is out of the country with family. PNB told Nirav Modi on Thursday to come up with a concrete plan to return the loan amount borrowed by his companies without following proper procedures.&nbsp;

Earlier on February 20, Nirav Modi wrote a&nbsp;letter to PNB accusing the bank of discrediting his legacy and name in the industry and &quot;destroying his brand&quot;. Read the full letter <a href="http://www.wionews.com/india-news/full-text-of-nirav-modis-letter-to-pnb-33448" target="_blank">here</a>.&nbsp;

In response, PNB wrote back accusing him of &quot;illegally using bank LoUs and declared he was guilty of FEMA violation and money laundering&quot;. Read the detailed letter <a href="http://www.wionews.com/india-news/you-were-getting-lous-issued-illegally-says-pnb-in-letter-to-nirav-modi-33705" target="_blank">here</a>.&nbsp;

It has been reported that&nbsp;Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, departed from the country on the same day. Modi&#39;s wife Ami, a US citizen, left on January 6 and his uncle and business partner&nbsp;<a href="http://www.wionews.com/india-news/after-ed-raids-on-nirav-modis-showrooms-cbi-targets-mehul-choksis-gitanjali-group-33063" target="_blank">Mehul Choksi, the promoter of Gitanjali jewellery chain</a>, left on January 4.

Nirav Modi is currently under investigation over alleged bank fraud of Rs. 11,300 crore

Global star Priyanka Chopra terminated her contract with celebrity jeweller Nirav Modi and stepped down as a brand ambassador, as reported by news agency ANI Friday. In light of recent allegations, Priyanka Chopra has chosen to terminate her contract with the #NiravModi brand: Priyanka Chopra's spokesperson (File Pic) pic.twitter.com/NnXYBeYc0Q — ANI (@ANI) February 23, 2018 × This comes in the wake of Nirav Modi committing a fraud worth Rs. 11,300 crore with Punjab National Bank (PNB). The bank is now trying to recover dues from the jeweller who is out of the country with family. PNB told Nirav Modi on Thursday to come up with a concrete plan to return the loan amount borrowed by his companies without following proper procedures. Earlier on February 20, Nirav Modi wrote a letter to PNB accusing the bank of discrediting his legacy and name in the industry and "destroying his brand". Read the full letter here. In response, PNB wrote back accusing him of "illegally using bank LoUs and declared he was guilty of FEMA violation and money laundering". Read the detailed letter here. It has been reported that Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, departed from the country on the same day. Modi's wife Ami, a US citizen, left on January 6 and his uncle and business partner Mehul Choksi, the promoter of Gitanjali jewellery chain, left on January 4.

Priyanka Chopra quits as Nirav Modi brand ambassador

Punjab National Bank denied media reports that claimed that the bank has transferred close to <a href="http://www.wionews.com/india-news/post-scam-pnb-transfers-nearly-18000-employees-after-cvc-rap-33622" target="_blank">18,000 employees </a>due to the ongoing probe in the Rs 11,400 crore Nirav Modi scam.

In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19.

&ldquo;There have been reports appearing in the media that the Bank has transferred close to 18,000 employees, the same is factually incorrect,&rdquo; the bank said in a press statement.&nbsp;

&ldquo;The bank has transferred 257 Sub Staff, 437 Clerks and 721 Officers (Total 1415 employees) since 19th February 2018, as per prevailing Rotational Transfer Policy of the Bank,&quot; the bank said.

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In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19. (Others)
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&quot;The working in the branches is going on smoothly and the above transfers are in no way affecting the customer service in the Bank,&quot; it added.

Statement also claimed that these transfers have not impacted the smooth functioning of the branches

Punjab National Bank denied media reports that claimed that the bank has transferred close to 18,000 employees due to the ongoing probe in the Rs 11,400 crore Nirav Modi scam. In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19. “There have been reports appearing in the media that the Bank has transferred close to 18,000 employees, the same is factually incorrect,” the bank said in a press statement. “The bank has transferred 257 Sub Staff, 437 Clerks and 721 Officers (Total 1415 employees) since 19th February 2018, as per prevailing Rotational Transfer Policy of the Bank," the bank said. In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19. (Others) × "The working in the branches is going on smoothly and the above transfers are in no way affecting the customer service in the Bank," it added.

Punjab National Bank denies reports of transferring 18,000 employees

Prime Minister Narendra Modi finally broke his long maintained silence over&nbsp;the <a href="http://www.wionews.com/india-news/full-text-of-nirav-modis-letter-to-pnb-33448" target="_blank">Rs 11,400 crore PNB scam </a>that stirred the nation.

While speaking at Fourth Global Business Summit organised&nbsp;in Delhi by Economic Times he said his government has always taken strict action against financial irregularities and will continue to do that.&nbsp;

&quot;I want to make it clear that this government has been taking strict action against financial irregularities and will continue to take strict action, System will not tolerate loot of public money,&quot; he said.

He also requested the management of institutions to &quot;do their job diligently and with dedication&quot;.&nbsp;

He said, &quot;I want to make an appeal to those who have been entrusted with the job of framing rules and policies and maintaining ethics to do their job diligently and with dedication,&nbsp;this should especially be followed by those who have been entrusted with the responsibility of supervision and monitoring.&nbsp;

Hitting out at the former government, he said &quot;You are aware of the earlier banking system and how an environment of crony capitalism was entrenched in the system. More than 2000 insolvency professionals and 62 insolvency entities are engaged in solving this. Our govt in three months has been able to solve more than 2700 cases&quot;.

He also said that his government had managed to connect over one lakh village panchayats through optical fiber in three years,&nbsp;while the previous government connected only 59 panchayats.&nbsp;

He said India was counted in &quot;Fragile 5&quot; four years ago, however, today the country&#39;s $ 5 trillion economy was the highlight.&nbsp;&nbsp;

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You will remember 4 years ago, when India was talked about, it was counted in &#39;Fragile 5&#39;. Today India&#39;s $5 trillion economy aim, &amp; not Fragile 5, is talked about: PM Narendra Modi <a href="https://t.co/JiC13KeJA2">pic.twitter.com/JiC13KeJA2</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/967050290535870466?ref_src=twsrc%5Etfw">February 23, 2018</a></blockquote>
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While the previous govt connected only 59 panchayats through optical fibre, our govt in just 3 years connected more than 1,10,000 village panchayats through optical fibre: PM Narendra Modi <a href="https://t.co/dFZpAe9dJe">pic.twitter.com/dFZpAe9dJe</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/967054773139726337?ref_src=twsrc%5Etfw">February 23, 2018</a></blockquote>
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While speaking at Fourth Global Business Summit organised in Delhi by Economic Times he said 'I want to make it clear that this government has been taking strict action against financial irregularities and will continue to take strict action, System will not tolerate loot of public money'

Prime Minister Narendra Modi finally broke his long maintained silence over the Rs 11,400 crore PNB scam that stirred the nation. While speaking at Fourth Global Business Summit organised in Delhi by Economic Times he said his government has always taken strict action against financial irregularities and will continue to do that. "I want to make it clear that this government has been taking strict action against financial irregularities and will continue to take strict action, System will not tolerate loot of public money," he said. He also requested the management of institutions to "do their job diligently and with dedication". He said, "I want to make an appeal to those who have been entrusted with the job of framing rules and policies and maintaining ethics to do their job diligently and with dedication, this should especially be followed by those who have been entrusted with the responsibility of supervision and monitoring. Hitting out at the former government, he said "You are aware of the earlier banking system and how an environment of crony capitalism was entrenched in the system. More than 2000 insolvency professionals and 62 insolvency entities are engaged in solving this. Our govt in three months has been able to solve more than 2700 cases". He also said that his government had managed to connect over one lakh village panchayats through optical fiber in three years, while the previous government connected only 59 panchayats. He said India was counted in "Fragile 5" four years ago, however, today the country's $ 5 trillion economy was the highlight. You will remember 4 years ago, when India was talked about, it was counted in 'Fragile 5'. Today India's $5 trillion economy aim, & not Fragile 5, is talked about: PM Narendra Modi pic.twitter.com/JiC13KeJA2 — ANI (@ANI) February 23, 2018 × While the previous govt connected only 59 panchayats through optical fibre, our govt in just 3 years connected more than 1,10,000 village panchayats through optical fibre: PM Narendra Modi pic.twitter.com/dFZpAe9dJe — ANI (@ANI) February 23, 2018 ×

Our government will continue to take strict action against financial irregularities: PM Modi

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