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.
The ED is analysing 120 shell companies in connection with the Punjab National Bank fraud allegedly committed by Nirav Modi, the government said.
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.
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 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.
Goldman Sachs lowered its real GDP forecast on India for the year to March 2019 to 7.6 percent from 8 percent earlier.
Choksi, said that "exaggerated" allegations by multiple investigating agencies have left him "completely defenceless" and that he feared for his safety to return home.
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.
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.
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.
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
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