pnb scam

Dominica has dropped charged of illegal entry against fugitive Indian diamantaire Mehul Choksi. Choksi is wanted in India in the over Rs 13,000 crore pnb scam. In a letter addressed to the magistrate of court district 'E,' dated May 17, the country's director of public prosecutions writes that the proceedings against Choksi for illegally entering the country on May 24, 2021 are discontinued.

The bank has written a letter to the banking sector regulator seeking its opinion on making provisions for the fraud, sources said.

Proposing it as a solution to the logjam which nixed proceedings in the two Houses for the third straight day, the opposition told the government that it would have to agree to an "adjournment motion" on the pnb scam.

The Congress-led opposition has begun to explore ways to facilitate a discussion on the pnb scam after nearly two weeks of standoff in Parliament even as the government’s decision to pass two bills in the din on Thursday further raised temperatures.

Congress president Rahul Gandhi took a swipe at PM Modi saying that the recent video of the pnb scam accused Nirav Modi in the UK shows an "uncanny similarity" between the two as both "believe they are above the law".

Widening the implications of the scam, top Congress "steering committee" (CWC) said repeated frauds under the Modi regime had eroded people's faith in the safety of their bank deposits.

Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, the agency said on Thursday.

Nehal Modi, brother of fugitive Nirav Modi, faces extradition to India after his US arrest on July 4. Accused of money laundering and criminal conspiracy in the Rs 13,000 crore pnb scam, he allegedly siphoned off Rs 6,498 crore. The extradition hearing is set for July 17, 2025, with US prosecutors opposing bail.

The ruling BJP seems to be going bluntly ahead to kick back the corruption ball in the opposition's court after Congress and others in the opposition used scandals like the pnb scam and the high-profile escapes of scamsters on the saffron watch to put it on the back foot.

Diamond merchants Nirav Modi and his uncle Mehul Choksi allegedly cheated PNB by availing credits worth over $2 billion from overseas banks, on the basis of fraudulent LoUs issued by PNB staff, which were siphoned off by them.

UK home secretary Priti Patel on Friday approved the extradition of fugitive diamond merchant Nirav Modi in connection with the Punjab National Bank (PNB) scam case, the country's home office said.

A special court here on Friday refused to cancel a non-bailable warrant issued against fugitive diamond merchant Mehul Choksi, a key accused in the alleged Punjab National Bank (PNB) scam.

Nirav Modi's story up until the UK court verdict on Thursday, just two days before his 50th birthday, is one of stark contrasts. From someone flush with diamonds, who grew up in the European jewellery hub of Antwerp in Belgium, to ending up holed up in a jail cell in one of Europe's most overcrowded prisons. The diamond merchant has lost his legal battle against extradition.

Fugitive diamantaire and pnb scam accused Mehul Choksi's extradition to India might be caught up in legal tangles. A Caribbean court has put a stay on his repatriation from Dominica. Choksi went missing in Antigua last week, amid speculations that he could have fled to Cuba. Sources said that Choksi may have been apprehended on Tuesday night in Dominica following the Interpol alert.

The agency said it has issued a provisional order for attachment, under the PMLA, of the factory premise owned by Abbeycrest (Thailand) Limited which is a "group company" of the Gitanjali group of companies.

Officials said the charge sheet or the prosecution complaint has been filed before a special Prevention of Money Laundering Act (PMLA) court in Mumbai. This is a supplementary charge sheet against the diamantaire and few others and the agency has recorded additional evidences gathered in the case and attachments made, they said.

About 40 per cent of the money lost by banks in the pnb scam and the fraud linked to fugitive businessman Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate said on Wednesday.

Environment minister Ramdas Kadam gave the demolition order after presiding over a review meeting on illegal bungalows built in the adjoining coastal district with Raigad collector Vijay Suryawanshi at the state secretariat here. After the meeting, Kadam told reporters that 121 "illegal" bungalows, including those built by Modi and Mehul Choksi, a diamond trader and pnb scam co-accused, were identified in Alibaug, a coastal town popular as weekend gateway for Mumbai residents.