PNB: PNB’s Rs 11,300 crore fraud: Nirav Modi raided and other developments
NEW DELHI: For the reason that Rs 11,300 crore fraud in Punjab Nationwide Financial institution’s (PNB) MC Brady Home department in Mumbai broke out on Wednesday, a string of developments has taken place. Here’s a rundown of how the rip-off has unfolded to this point:
1. The rip-off was first detected by our officers at first in 2011 and we had reported it to the involved companies, Punjab Nationwide Financial institution (PNB) MD Sunil Mehta mentioned in a presser on Thursday.
2. Now we have lodged FIRs and complaints. Now we have the potential and capability to come back out of the scenario, PNB MD added. Now we have not shirked in our accountability, he added.
three) On Thursday, the Enforcement Directorate (ED) registered a cash laundering case towards diamond service provider Nirav Modi and his family members together with others and raided over dozen premises throughout the nation linked to them.
four) The premises raided by the ED contains Modi’s residence in Kurla, his jewelry boutique in Kala Ghoda space, three firm places in Bandra and Decrease Parel, three premises in Surat in Gujarat and Modi’s showrooms in Chanakyapuri and Defence Colony in Delhi.
5) ED would probe if the allegedly defrauded financial institution funds had been laundered and these proceeds of crime had been subsequently utilized by the accused to create unlawful belongings and black cash.
6) The CBI additionally booked a retired PNB officer and a clerk for serving to the businesspersons. Final yr, deputy supervisor (retired) Gokulnath Setty and single window operator Manoj Kharat had issued eight letters of understanding (LoU) value over Rs 280 crore to Nirav’s firm simply three months earlier than the previous’s retirement.
7) Actress Priyanka Chopra has sued Nirav Modi for not paying her for a diamond commercial. Priyanka is the worldwide model ambassador for Modi’s jewelry model.
eight) Involved concerning the fraud, the finance ministry has requested all banks to ship reviews involving this case or different such incidents newest by the top of this week.
9) PNB has cautioned different banks concerning the modus operandi of the rip-off.
10) Main jewellers Gitanjali, Ginni and Nakshatra have additionally come below the scanner of assorted investigating companies following PNB’s declaration of the fraud.