mehul choksi


ED attaches Nirav Modi's properties worth Rs 25 crore

Mar 24 2018 | 10 hrs ago

The ED said that it has attached properties worth Rs 25 crore of diamond jeweller Nirav Modi in connection with its ongoing probe into the Rs 13,540 crore PNB fraud case.

ED analysing 120 shell companies in PNB fraud case: Govt

Mar 23 2018

The ED is analysing 120 shell companies in connection with the Punjab National Bank fraud allegedly committed by Nirav Modi, the government said.

Nirav Modi Fraud: PNB to beef up its system, processes for lending

Mar 22 2018

Hit hard by the Rs 13,000 crore scam, PNB has decided to tighten loan disbursement and set up a monitoring mechanism to check loan slippages and fraud.

'PNB suffers Rs 14,506 cr loss due to fraud in FY18 so far'

Mar 22 2018

State-owned Punjab National Bank (PNB) has witnessed losses to the tune of Rs 14,500 crore due to fraud so far in this fiscal, Parliament was informed this week.

PNB issued over 41k LoUs since 2011: Finance ministry

Mar 22 2018

PNB had issued as many as 41,178 LoUs since 2011, of which 1,590 were given to Nirav Modi, Mehul Choksi and their associates, the finance ministry has said.

PNB bank woes spur Goldman to downgrade India's growth forecasts

Mar 20 2018

Goldman Sachs lowered its real GDP forecast on India for the year to March 2019 to 7.6 percent from 8 percent earlier.

Choksi to CBI: Completely defenceless due to exaggerated allegations

Mar 20 2018

Choksi, said that "exaggerated" allegations by multiple investigating agencies have left him "completely defenceless" and that he feared for his safety to return home.

CBI charges former Canara Bank chief in alleged loan fraud case

Mar 19 2018

The CBI filed charges against a former chairman of Canara Bank and others over allegations that the officials helped a company defraud the bank of about $10.5 million.

PNB scam: 11 accused get judicial custody till March 28

Mar 17 2018

A special CBI court remanded in judicial custody till March 28 the 11 accused arrested in connection with the multi-crore Punjab National Bank (PNB) fraud case.

Rs 9.1-cr Chandri Paper fraud reported to CBI on Feb 13: PNB

Mar 17 2018

The Punjab National Bank (PNB) clarified that Rs 9.10 crore fraud unearthed pertaining to Chandri Paper and Allied Products was not a new fraud.

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Stocks In News



Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively

To add platform capabilities in the insurance segment which contributes 15% of total business

The Acquisition is expected to close within the next 3 months


Sells Essar Steel loan to Deutsche Bank

Has sold its $385 mn Foreign currency loan extended to Essar Steel

Bank has taken a 38% haircut

Rs 1600 cr is expected earnings to the bank from the deal

Economic Times Reports


To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn

The co is also in discussions to sell its residential and commercial projects in Chennai

To convene shareholder’s meet on 23rd March in regard to the proposed divestment

Mint Reports


Gets Order Worth Rs 230 Cr From NTPC

To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators

Will help NTPC commission the 3x 660MW plant started 12years


Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI

The completion period for the project is 30 months

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