Khushboo Narayan


Enforcement Directorate to move court against Vijay Mallya in first case under new fugitives law
Mon, Jun 18, 2018

According to the ordinance, a Fugitive Economic Offender is a person who has an arrest warrant issued in respect of a scheduled offence and who leaves or has left India so as to avoid criminal prosecution, or refuses to return to India to face criminal prosecution.

Maharashtra has highest number of ATMs in country, says RBI
Sat, Jun 16, 2018

During the financial year 2017-18, the number of ATMs in the state has declined marginally from a year ago, as the total number of ATMs in the country has also declined slightly to 2,22,066 from 2,22,318 in the same period.

Nirav Modi used revoked passport four times to travel: Interpol
Thu, Jun 14, 2018

In a June 5 letter to Indian agencies, Interpol said Nirav Modi travelled between United States, United Kingdom and Hong Kong on his Indian passport between March 15 and March 31.

PNB fraud case: Others in family helped Nirav launder money, destroy evidence, ED tells court
Thu, Jun 14, 2018

PNB fraud case: Nirav Modi, his wife Ami (a US citizen), brother Neeshal (a Belgian national) and uncle Mehul Choksi, promoter of the Gitanjali Group, fled the country in January, weeks before the scam broke. While Nirav Modi is in the UK, Choksi is learnt to be in the US.

Now CBI investigates role of top bankers in Kingfisher Airlines loans case
Mon, Jun 11, 2018

Kingfisher owes over Rs 9,000 crore to at least 17 lenders, including SBI, IDBI Bank, Punjab National Bank, Bank of India, Bank of Baroda and United Bank of India.

NCLT admits insolvency plea by SBI against Videocon Telecom
Sat, Jun 09, 2018

A consortium of 18 banks have an exposure of over Rs 2500 crore to Videocon Telecommunications, which has defaulted on loans and bank guarantees since January 2018.

RBI increases repo rate to 6.25%, loans to cost more now
Thu, Jun 07, 2018

The RBI may also have taken into account the fact that many other central banks in emerging markets too have raised rates in the face of rising inflation and weakening of their currencies with rising interest rates in the US and elsewhere, a strong US dollar and outflows.

PNB fraud case: Nirav Modi’s five dummy firms in Hong Kong whose owners earned Rs 8,000 got Rs 8,000 crore LoUs
Wed, Jun 06, 2018

According to the ED complaint, fraudulent LoUs worth $ 3,741.93 million (approximately Rs 24,000 crore) were issued to Modi Group firms between 2011 and 2018. Of these, it alleged, the total current outstanding fraudulent LoUs is $ 1,015.34 million.

Coal over-invoicing case: CESTAT allows appeal of Delhi-based company
Sun, Jun 03, 2018

The CESTAT on Friday in an open court allowed the appeal of Knowledge Infrastructure. However, it yet to upload the full order on its website.

State leads way in assets under management of mutual funds
Sat, Jun 02, 2018

Maharashtra continues to lead the way with maximum penetration and assets under management

Complaint by ICICI insider forced board to probe Chanda Kochhar
Sat, Jun 02, 2018

On May 30, the bank stated in a regulatory filing that its board has decided to institute an “enquiry” into a new complaint received from an anonymous whistleblower, alleging non-adherence of code of conduct, conflict of interest and quid pro quo by Kochhar while dealing “with certain borrowers”.

PNB fraud: Nirav Modi jewellery estimated at less than 30 per cent of book value
Thu, May 31, 2018

The investigative agencies probing Modi for the alleged Rs 6,498 crore fraudulent transactions at the state-owned Punjab National Bank (PNB) are now of the view that the firms owned by the jeweller may have inflated the value of jewellery in their account books.

Nirav Modi diverted Rs 4,299 crore to himself, family and firms: ED in court
Fri, May 25, 2018

According to the ED probe, Modi diverted $265 million (Rs 1,811 cr) to his Group firms, his sister Purvi Modi and her husband Maiank Mehta through nine UAE-based dummy firms. Both Purvi Modi and Maiank Mehta have been named as accused with Modi in the ED complaint.

CBI chargesheet in PNB scam: ‘Staff crunch cited for no SWIFT submissions’
Wed, May 23, 2018

The CBI has referred to a statement of a witness, then chief manager of PNB and the circle officer in Mumbai, whose duties included following up with all Authorised Dealer (AD) branches for Foreign Exchange.

CBI chargesheet in PNB scam: ‘Nirav Modi’s partners illiterate, unemployed’
Wed, May 23, 2018

In the chargesheet against Nirav and 24 others, CBI has recorded statements of six men, all Gujarat residents, who have claimed that they were not aware of the consequences of signing on papers pertaining to the firms.

PNB fraud: ED provisionally attaches Nirav Modi’s assets worth Rs 170 cr
Tue, May 22, 2018

PNB fraud: The provisional attachments have been done under the stringent Prevention of Money Laundering Act (PMLA).

Mumbai: Directors of two firms held for GST ‘fraud’
Sun, May 20, 2018

The firm, according to records, is involved in the business of manpower outsourcing, accounting, book keeping, auditing, tax consultancy, market research and public opinion polling among other things.

Maharashtra tops list of states in growth of personal loans: RBI
Sat, May 19, 2018

Maharashtra tops the list of states when it comes to personal loans with borrowers getting Rs 2.95 lakh crore credit from commercial banks as on March 2017, according to the handbook of statistics for Indian states released by RBI earlier this month.

Overseas investment fund linked to Nirav Modi, three others under probe
Mon, May 07, 2018

According to government FDI data, between April 2014 and September 2016, Firestar International received $17.71 million and $20.26 million from Forocom Worldwide Investment Ltd, Mauritius and Jade Bridge Holdings Ltd, Cyprus respectively.

I-T Dept questions ICICI Bank chief Chanda Kochhar’s husband Deepak
Sun, May 06, 2018

This was the first time Deepak Kochchar was questioned by any investigating agency on the transactions carried out by his companies. The questioning was likely to continue next week, the sources said.