Back to homepage

Tag "pnb fraud"

PNB tanks by 10% after another fraud case

PNB tanks by 10% after another fraud case

🕔12:42, 8.Jul 2019

Mumbai, July 8  Two days after the Punjab National Bank (PNB) said that it had been defrauded by Bhushan Power & Steel Ltd. (BPSL) to the tune of Rs 3,805.15 crore, its scrip fell by over 10 per cent on

Read Full Article
PNB reports Rs 3,805 cr fraud by Bhushan Power & Steel

PNB reports Rs 3,805 cr fraud by Bhushan Power & Steel

🕔17:12, 7.Jul 2019

New Delhi, July 7  Another fraud, this time amounting to Rs 3,805.15 crore has been reported at the state-run Punjab National Bank (PNB), this time by the now-insolvent Bhushan Power and Steel Ltd (BPSL). In February 2018, the Rs 13,500-crore

Read Full Article
PNB fraud: ED seeks to attach Choksi’s Thailand factory

PNB fraud: ED seeks to attach Choksi’s Thailand factory

🕔07:28, 5.Jan 2019

New Delhi, Jan 5  The Enforcement Directorate (ED) on Friday said it has sent a request for attachment of a factory premises in Thailand worth Rs 13 crore owned by Abbeycrest Ltd, a company of Mehul Choksi’s Gitanjali Group, in

Read Full Article
ED attaches Nirav Modi’s foreign assets worth Rs 637 cr

ED attaches Nirav Modi’s foreign assets worth Rs 637 cr

🕔13:12, 1.Oct 2018

New Delhi, Oct 1  The Enforcement Directorate (ED) said on Monday it has attached foreign properties of fugitive diamond jeweller Nirav Modi worth Rs 637 crore, including two apartments in New Yorks Central Park, in its ongoing investigation into the

Read Full Article
PNB fraud: ED charge-sheet names Nirav, 23 others

PNB fraud: ED charge-sheet names Nirav, 23 others

🕔10:07, 25.May 2018

Mumbai, May 25  The Enforcement Directorate (ED) on Thursday filed a charge-sheet against fugitive diamond merchant Nirav Modi and 23 others, including his father, sister and brother-in-law, in the over Rs 13,400 crore Punjab National Bank (PNB) scam. The fraud

Read Full Article
PNB fraud: ED seizes Rs 85 cr jewellery in Choksi case

PNB fraud: ED seizes Rs 85 cr jewellery in Choksi case

🕔09:40, 18.May 2018

New Delhi, May 18  The ED on Thursday seized over 34,000 pieces of jewellery valued at Rs 85 crore in connection with its ongoing probe against absconding businessman Mehul Choksi who is accused along with his diamantaire nephew Nirav Modi

Read Full Article
PNB shares plunge 14% after Q4 loss, Jefferies suggests bailout

PNB shares plunge 14% after Q4 loss, Jefferies suggests bailout

🕔19:19, 16.May 2018

Mumbai, May 16 Shares of multi-crore fraud hit Punjab National Bank (PNB) slumped around 14 per cent (intra-day) on Wednesday, a day after the bank reported a loss of over Rs 13,000 crore for the fourth quarter of 2017-18. Looking at

Read Full Article
PNB fraud: Finance Ministry initiates action against Allahabad Bank CEO

PNB fraud: Finance Ministry initiates action against Allahabad Bank CEO

🕔10:45, 15.May 2018

New Delhi, May 15  The Finance Ministry on Monday started the process of removing Allahabad Bank CEO and MD Usha Ananthasubramanian from her post after the CBI filed a chargesheet detailing her alleged role in the over Rs 13,000-crore Punjab

Read Full Article
PNB strengthens recovery efforts: Name-and-shames willful defaulters; boosts Mission Gandhigiri

PNB strengthens recovery efforts: Name-and-shames willful defaulters; boosts Mission Gandhigiri

🕔19:47, 20.Apr 2018

PNB to name and shame 1084 willful defaulters Mission Gandhigiri to result in recovery of INR 100-150 cr month-on-month Tie-up with credit agency helps in tracing of defaulters New Delhi, 20 April, 2018: Punjab National Bank is strengthening its recovery

Read Full Article
Fraud fallout: PNB tightens norms, to separate loan appraisal and monitoring teams

Fraud fallout: PNB tightens norms, to separate loan appraisal and monitoring teams

🕔09:37, 14.Apr 2018

New Delhi, April 14  To avert any future fraud, the 124-year-old state-run lender Punjab National Bank said that it has strengthened internal audit controls by having separate “pre-sanction appraisal and post sanction monitoring” teams for credit disbursal. Besides, the lending

Read Full Article
PNB fraud: CBI examines three officials of foreign branches of Indian banks

PNB fraud: CBI examines three officials of foreign branches of Indian banks

🕔10:49, 12.Apr 2018

Mumbai, April 12  The CBI on Wednesday examined three officials of overseas branches of two Indian banks in connection with Rs 13,600 crore Punjab National Bank (PNB) fraud against diamantaire Nirav Modi and his uncle Mehul Choksi, an official said. Two

Read Full Article
Fitch downgrades PNB’s viability rating to bb-

Fitch downgrades PNB’s viability rating to bb-

🕔10:32, 11.Apr 2018

New Delhi, April 11  Fitch Ratings on Tuesday downgraded the Viability Rating of the Punjab National Bank (PNB) to ‘bb-‘ from ‘bb’ and maintained the rating on Rating Watch Negative (RWN) following a multi-crore fraud involving diamond trader Nirav Modi.

Read Full Article
Despite fraud, PNB’s 2017-18 domestic business up 7.9%

Despite fraud, PNB’s 2017-18 domestic business up 7.9%

🕔10:09, 7.Apr 2018

New Delhi, April 7  Despite a major fraud, state-run Punjab National Bank (PNB) on Friday reported a 7.9 per cent growth in its domestic business which crossed the Rs 10 lakh crore mark during 2017-18. “Global business of the bank

Read Full Article
PNB fraud: CBI questions four RBI officials

PNB fraud: CBI questions four RBI officials

🕔10:15, 6.Apr 2018

New Delhi, April 6 The CBI on Thursday questioned four Reserve Bank of India (RBI) officials in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said. Those

Read Full Article
PNB not providing information on Nirav Modi under RTI: Activist

PNB not providing information on Nirav Modi under RTI: Activist

🕔19:17, 27.Mar 2018

Mumbai, March 27  The Punjab National Bank has refused to provide any information pertaining to absconding scamster, diamantaire Nirav Modi, to queries sought under RTI, an activist said here on Tuesday. Anil Galgali said that he had sought specific RTI

Read Full Article
PNB plans vertical to recover stressed assets

PNB plans vertical to recover stressed assets

🕔20:36, 26.Mar 2018

New Delhi, March 26  Faced with a multi-billion dollar fraud, along with the problem of non-performing assets (NPAs), state-run lending major Punjab National Bank (PNB) has decided to form a separate “vertical to deal with its stressed assets”. According to

Read Full Article
PNB fraud fallout: 107 firms, 7 LLPs under SFIO scanner

PNB fraud fallout: 107 firms, 7 LLPs under SFIO scanner

🕔20:10, 16.Mar 2018

New Delhi, March 16  The government has ordered investigation to be carried out by the Serious Fraud Investigation Office (SFIO) into the affairs of 107 companies and seven limited liability partnerships (LLP) pertaining to multi-crore fraud in Punjab National Bank

Read Full Article
Ex-PNB official Shetty booked in Rs 9-cr LoU fraud with another company

Ex-PNB official Shetty booked in Rs 9-cr LoU fraud with another company

🕔19:30, 15.Mar 2018

New Delhi, March 15  Apparently, the Nirav Modi and Mehul Choksi groups were not the only ones indulging in frauds related to Letters of Undertaking (LoUs) issued by the Punjab National Bank (PNB) officials. The Central Bureau of Investigation (CBI)

Read Full Article
PNB clarification: Rs 942 cr not new fraud but recall of credit limits

PNB clarification: Rs 942 cr not new fraud but recall of credit limits

🕔20:30, 13.Mar 2018

The amount of Rs 942 cr were the regular limits sanctioned to Geetanjali Group under consortium lending, and were standard credit exposure at the time of detection of the fraud. Now, this exposure is being added to the existing fraudulent

Read Full Article
CBI registers fresh Rs 321 crore case against Nirav Modi

CBI registers fresh Rs 321 crore case against Nirav Modi

🕔11:32, 8.Mar 2018

New Delhi, March 8  The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013

Read Full Article