Skip to content
Northwest Trail

Northwest Trail

  • TRAI Slashes Rate Of Mobile Number Portability By 79% Internet
  • Plant Phenotyping Market Analysis 2020 to 2028 Business
  • Scientists have devised a useful chemical data management model News
  • Customers are dissatisfied with Sony’s PlayStation 5 update News
  • NaviLens is being tested for the first time on packs of Coca-Cola Business
  • The Next U.S. Moon Landing Program Will Be Managed by Private Companies News
  • Resorts closing down due to coronavirus Health
  • Statistical Analysis of the Underwater Drone Market through the year 2027 News

CBI Seeks Interpol’s Help In Arresting Nirav Modi

Posted on February 25, 2018 By PeterHardy

CBI Seeks Interpol’s Help In Arresting Nirav Modi

The CBI has asked the Interpol for help in arresting fraudster jeweler Nirav Modi and his family that is involved in the largest bank fraud involving crores in India. The Punjab National Bank in its FIR has accused Nirav and his family members of conniving with bank officials to obtain large loans without guarantees that may cost the exchequer Rs. 11,300 crores. While the passport of Nirav Modi and his associate Mehul Choksi have been revoked and is likely to be cancelled if they do not respond within 4 weeks.

See also  In a revolutionary experiment, scientists have successfully created matter out of nothing.

Raids by investigators at Nirav’s residences and stores across India have led to seizure of assets worth Rs. 5,600 crores in the form of diamonds and gold jewelry. The agency filed a fresh case against Mehul Choksi and his Gitanjali group of companies alleging fraud of Rs. 4,911.43 crores. According to the report, Nirav Modi has been traced to a hotel in New York from where he apparently stayed after his Davos visit. The agency has put out a lookout notice against the four accused in the first week of February. The case has led to political sparring with the opposition parties accusing the ruling party of allowing the accused to escape.

See also  Make This New Year’s Resolution In Favor Of Nature

The fraud came to light when a few firms that are part of Nirav Modi’s group made a request to PNB for buyers’ credit by presenting a set of import documents. When the branch officials asked them for collateral to extend the loan, the employees argued that in the past, they had been granted such facilities without any guarantees. This statement alerted the bank employees and they were shocked to find that there were no traces of such transactions in past records. Further investigations revealed that previous employees of the Mumbai branch had abused their authority by using their access to the bank’s system to clear LoU’s without entering the details in the bank’s internal system.

See also  A New Record for Thin-Film Photovoltaic Cell Efficiency Has Been Set

###

News

Post navigation

Previous Post: Samsung Galaxy S9 Consists Of A Feature That Is Missing In Pixel 2, iPhone X, And Others
Next Post: TRAI Slashes Rate Of Mobile Number Portability By 79%

Related Posts

  • The Need For Polydextrose Is Increasing In The Bread And Confectionary Industries Business
  • A New Record for Thin-Film Photovoltaic Cell Efficiency Has Been Set News
  • Here’s How You Can Trace A Plumbing Leak News
  • A New Generation of Intelligent Virtual Assistants Is Taking the World By Storm News
  • Uncertainty still exists over the coronavirus impact on unemployment News
  • Harmful Drinking Linked to Teenage Anxiety Health
  • Automobile
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Internet
  • News
  • Sports
  • Technology
  • Uncategorized
  • Vacuum Belt Dryer Market Forecast: Strategic Insights and Future Trends 2032
  • Vegetable-Oil-Based Cutting Fluids Market Landscape: Trends, Innovations, and Projections 2032
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024
  • Construction Materials Market: Trends, Analysis, and Future Outlook 2032
  • Offshore Wind Energy Market Size Overview 2024
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024 Health
  • Brain Signaling Changed Due To Increased Blood Pressure Health
  • Learn about the various aspects of network marketing Business
  • Engineers arrested for racing General Motors cars Automobile
  • Specialists of Many Areas Work at Chu Agency Business
  • Ferrovanadium Alloy Market Size, Share, and Growth Analysis 2024 Business
  • DirectStorage, the company’s upcoming product, is expected to speed up PC game loading times News
  • Hubble image shows intricate and diverse galaxies News

Copyright © 2025 Northwest Trail.

Powered by PressBook News WordPress theme