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  • Cong attacked PM for PNB scam

    Congs Attack

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    Congress leveled up with another salvo on Centre over the PNB fraud allegedly involving designer jeweller Nirav Modi, saying the country's "biggest bank loot scam" is pegged far bigger at Rs 21,306 crore with fresh revelations.

    Congress President Rahul Gandhi fired yet pointed out at Prime Minister Narendra Modi over Nirav Modi fleeing the country. Taking to Twitter, he posted, "The scamster's escape formula: La(Mo) + Ni(Mo) ---(with) Na(Mo)---> Bha(Go)", while using the hashtag "#ModiRobsIndia".

    The opposition party hit out at the PM for his "silence" on the issue, alleging that he did not act on the scam even after his office was informed about it by one Vaibhav Khuraniya on May 7, 2015.

    Releasing letters purportedly written to various agencies in this regard, Congress communications incharge Randeep Surjewala asked why the BJP and government were silent on the issue and how accused Nirav Modi and Mehul Choksi were "allowed" to escape.

    "India's biggest 'bank loot scam' has got bigger over the last 24 hours to Rs 21,306 crore as layers of the conspiracy got unearthed by the hour," he told reporters.

    (With agency inputs)

  • FIR filed against rotomac pens owner over bank fraud

    Bank

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    Post PNB fraud, On the basis of Bank of Baroda’s alleged complaint for swindling over Rs 800 crore, an FIR has been registered against Rotomac pen promoter Vikram Kothari in New Delhi on Monday.

    No arrested have been made till now even after searching the Kothari’s residence in Kanpur from early in the morning said CBI spokesperson.

    According to th media reports, CBI also said that, Kothari, his wife and his son are being examined by the CBI, which is conducting the searches.

    As per the early reports, Kothari was "missing" from Kanpur with bank loan worth Rs. 837 crore. However, Kothari denied reports that he has left the country. The Kanpur-based company's owner had taken loans of Rs 352 crore from Kanpur branch of Allahabad Bank and Rs 485 crore from three other banks: Bank of Baroda, Indian Overseas Bank, and Union Bank of India. Rajesh Gupta, Recovery Agent of Allahabad Bank, told ANI that the loan amount is being recovered from the attached properties of Kothari.

    (With Agency Inputs)

  • PBN scam: I-T joined Nirav's 29 Properties, 105 Bank

    Nirav Modi

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    The Income Tax Department Friday provisionally attached 29 properties and 105 bank accounts of beleaguered jewellery designer Nirav Modi the diamond merchant, his family and firms as part of its tax evasion probe, officials said.

    Adding further, the department also slapped the new anti-black money act against him for allegedly holding illegal assets abroad.

    The asset is suspected to be in Singapore. The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 deals with cases of overseas illegal assets, which till recently were probed under the Income Tax Act, 1961.

    The new legislation has provisions for a steep 120 per cent tax and penalty on undisclosed foreign assets and income, besides carrying a jail term of up to 10 years.

    The taxman also filed a charge sheet against Nirav Modi before a special court in Mumbai under various sections of the Income Tax Act, 1961.

    (With agency inputs)

  • PNB case: Nirav’s aide knew about the fraud, claims CBI

    PNB 1vipul Ambani

    Photo Courtesy: Internet

    Special court today remanded aide Vipul Ambani, the president (finance) of Nirav Modi, and nephew of Reliance Industries founder Dhirubhai Ambani till March 5 in connection with the Rs 11,400 crore in Punjab National Bank (PNB).

    Five more were arrested yesterday in connection with two FIRs registered by the CBI involving Modi and his uncle Mehul Choksi, the owner of Gitanjali Gems.