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Feb 17, 2018 08:58 PM IST | Source: Moneycontrol.com
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highlights
Income Tax Department attached 9 more accounts of Gitanjali group, with balance of Rs 81 Lakh, Income Tax sources tell ANI. Earlier today 23 accounts and one Gitanjali group building was seized.
Sources tell CNN-News18 that Congress will demand a joint parliamentary committee probe against the fraud case after discussing with opposition parties.
PNB & RBI officials under CBI's radar
JUST IN| CBI seeks maximum custody of the three arrested, reports CNN-News18. More updates to follow.
JUST IN| Enforcement Directorate (ED) conducting raids at a Nakshatra jewellers showroom of Gitanjali Group in Bhopal, reports ANI.
JUST IN | CBI has arrested Gokulnath Shetty then Deputy Manager (now Retd) Punjab National Bank and Manoj kharat, SWO (single window operator) PNB and Hemant Bhat, Authorised Signatory of the Nirav Modi Group of Firms. They will be produced today before CBI special court Mumbai, reports ANI.
Income Tax Department attached 9 more accounts of Gitanjali group, with balance of Rs 81 Lakh, Income Tax sources tell ANI. Earlier today 23 accounts and one Gitanjali group building was seized.
Sources tell CNN-News18 that Congress will demand a joint parliamentary committee probe against the fraud case after discussing with opposition parties.
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Indian Banks Association discusses PNB fraud
The apex body of bankers today met here to discuss the Rs 11,400-crore scam at Punjab National Bank allegedly caused by the absconding diamond trader Nirav Modi and a clutch of his family-run companies.
The meeting of the Indian Banks Association (IBA) was attended by senior officials of public and private sector lenders, sources said this evening.
Interestingly, the meeting, earlier scheduled to be held at the IBA headquarters in Cuffe Parade, south Mumbai, was changed at the last moment to the SBI headquarters at Nariman Point, apparently to avoid the media.
Gem Jewellery Export Promotion Council condemns PNB fraud, assures support in probe
The Gem Jewellery Export Promotion Council (GJEPC) today condemned the Rs 11,400-crore bank fraud allegedly involving diamond czar Nirav Modi and hoped the scam will not have any adverse impact on the export industry.
The government-promoted industry body offered support to agencies investigating the scam and assured of action against Modi and his uncle Mehul Choksi, the Gitanjali Group promoter, if they are found guilty in the scam.
Both Modi and Choksi are members of GJEPC.
ED continues raids, seizure value rises to Rs 5674 crore
Raids by the ED in connection with its money laundering probe against diamond czar Nirav Modi and others in the alleged Rs 11,400-crore bank fraud continued for the third day today with the agency saying it seized Rs 25 crore worth diamonds and jewellery, taking the total seizure value to Rs 5,674 crore. "The ED conducted further searches at 21 locations across India in Nirav Modi case and seized diamonds, gold, precious stones/metals and jewellery worth Rs 25 crore (book value). The total seizure till now is Rs 5,674 crore," it said in a statement.
The agency had earlier said it had arrived at the value of the assets seized based on the stock value at showrooms and stores, which was also the price at which the company purchased the goods. It was also conducting an "independent valuation" of these assets.
ED makes further seizure of Rs 25 crore in today’s raid from different locations, reports CNN-News18
PNB's investigation reports revealed that logs in swift were used by many officials including Gokulnath Shetty by using passwords in the capacity of authoriser enabling fraudulent Swift messages.Involvement & connivance of more staff members & outsiders can't be ruled out: CBI tells ANI.
PNB & RBI officials under CBI's radar
CBI sources told Moneycontrol's Tarun Sharma that top officials including PNB chairmen PNB and RBI officials are under the scanner. The sources questioned why the RBI was not able to catch the fraud earlier as they keep a track on the internal auditing of the bank branches.
The sources further added, "The declaration to exchanges about complaints to CBI created hurdles for us while investigation.There was no need to alert to culprits about this action". The source reasserted that they 'will not spare anybody' including the complainant.
An ICIJ data unfolds how the transactions were syphoned by the Modis. According to the data in the CBI FIR, the money was syphoned via Allahabad Bank's branches in Hong Kong.
Nirav Modi routed his tax havens to British Virgin Islands, according to CNN-News18. Nirav Modi's family members - Purvi Deepak Modi and Mayank Mehta - are also involved in the scam.
Ramifications of the case to the extent is of Rs 6000 crores which is more than the earlier-mentioned Rs 280 crores mentioned in the FIR, reports Moneycontrol's Tarun Sharma.
The three accused sent under police custody till 3rd March are Gokulnath Shetty then Deputy Manager (now retired) Punjab National Bank and Manoj Kharat, SWO (single window operator) PNB and Hemant Bhat, Authorised Signatory of the Nirav Modi Group of Firms.
Rahul Gandhi says that the PNB fraud case started in demonetisation and points that PM Modi has not voiced out his thoughts yet on the scam. He questions the action what the PM is planning to take.
I intend to file a civil and defamation case against the Defence Minister Nirmala Sitharaman and her colleagues who are spreading the defamatory allegations, I also intend to take action against the sections of media who are spreading the same: Abhishek Singhvi, Congress, tells reporters
CBI has sought the police custody of 3 Punjab National Bank for 14 days for further investigation on the grounds that some important documents are yet to be recovered, CBI wants to find the modus operandi of crime & ascertain the exact magnitude of the crime. In its remand application, CBI claims that the fraud is estimated at Rs 6000 crores, much more than Rs 280 crores reported by the bank. CBI also mentioned that Nirav Modi firm's authorised signatory Hemant Bhatt is not co-operating in the investigation, reports Moneycontrol's Tarun Sharma (with ANI inputs).
JUST IN| CBI seeks maximum custody of the three arrested, reports CNN-News18. More updates to follow.
BJP hits back at Congress, says opposition party spreading lies
The BJP today alleged that the multi-crore PNB scam involving billionaire jewellery designer Nirav Modi happened during the UPA rule and the Congress was spreading lies.
The BJP fielded Defence Minister Nirmala Sitharaman to counter the Congress charge that the scam took place in 2017 under the Modi government when the letters of understanding were signed by the Punjab National Bank in favour of Nirav Modi. She said Nirav Modi may have been able to run away from the country, but the government is taking action against him.
UPDATE| All three accused in the PNB Fraud case - Gokulnath Shetty, Manoj Kharat & Hemant Bhat - reach Special CBI Court, reports CNBC-TV18
JUST IN| Enforcement Directorate (ED) conducting raids at a Nakshatra jewellers showroom of Gitanjali Group in Bhopal, reports ANI.
Congress member Singhvi dismisses Defence Minister Nirmala Sitharaman's claims
"Neither my wife, sons nor me have anything whatsoever to do with Gitanjali or NiravModi companies. The company was a tenant of a Kamla Mills property owned by Adwait holdings in which my wife & sons are a director. Nirmala Sitharaman & her colleagues are liable to civil & criminal defamation for making ignorant & patently false allegations. I reserve my rights to take all such appropriate legal action against the latter & all parts of media which carry such allegations," says Abhishek Singhvi
Modi govt institutionalising crony capitalism: Congress on PNB fraud
The Congress today held the BJP responsible for the Rs 11,400-crore Punjab National Bank scam involving jewellery designer Nirav Modi and accused Prime Minister Narendra Modi of institutionalising "crony capitalism". Congress leader Kapil Sibal accused the prime minister and his government of bringing the economy to its knees, and warned that the country's image would get a beating internationally under him. He also took a dig at Modi, alleging that while he was "sleeping" as the country's watchman, thieves were fleeing with the nation's wealth. Quoting the second FIR filed by the CBI in the case, the Congress leader said that all letters of understanding (LoUs) to the accused were signed in 2017 under the NDA government, which failed to prevent the scam from happening. Addressing a joint press conference with Congress communications in-charge Randeep Surjewala, Shaktisinh Gohil and Pawan Khera, Sibal sought to know why Modi refused to divulge details of all those people who accompanied him during his foreign tours.
Only Gitanjali store in city in winding up process: ED
The Enforcement Directorate today said the solitary Gitanjali Gems store here has started winding up since the Rs 11,400-crore Punjab National Bank scam broke out.
The name of Mehul Choksi, the owner of the store, features in the multi-crore rupees fraud.
A senior ED official told PTI that the department’s officials went to the Camac Street store of Gitanjali Gems, but found the shop closed. “It seems that the company was in the process of winding up the store,” the official said.
Latest CBI FIR shows 143 Letters of Undertaking were issued between March 1, 2017 to May 2, 2017, reports CNBC TV-18.