Nirav modi : ED raids at 35 locations in 11 states, total seizure amounts to Rs 5,700 crore

Nirav modi : ED raids at 35 locations in 11 states, total seizure amounts to Rs 5,700 crore

The Ministry of External Affairs on Friday suspended the international IDs of diamantaire Nirav Modi and his uncle Mehul Choksi after the counsel of Enforcement Directorate. The travel permits have been suspended for a time of a month. The couple has been asked to react within seven days for what valid reason their visas ought not to be appropriated or denied under the Passports Act 1967.

The examination offices, banks, and now Interpol (International Criminal Police Organization) – all offices and establishments have fixed the noose around extremely rich person diamantaire Nirav Modi, who’s at the core of the Rs 11,400-crore ‘misrepresentation’ recognized at Punjab National Bank’s (PNB) Mumbai branch. The primary protest against Nirav Modi’s organization was documented on January 29, yet he and his family had just fled the nation on January 1.

Since the ‘extortion’ is out in the open, the PNB has terminated its 18 representatives, and the administration has guaranteed not to “save anybody”. The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have attacked a few properties of Nirav Modi and his asserted associates, including his relatives and business accomplice Mehul Choksi, the proprietor of jewel adornments mark Gitanjali Gems, and have fixed precious stone, gold, gems, and valuable stones worth over Rs 5,100 crore. Despite the fact that Nirav Modi has purportedly guaranteed the PNB experts to reimburse the whole cash, he has been requested to think of a solid arrangement.

10.23pm: Nirav Modi, who left India about finished a month prior alongside his family, is living in an elegant inn in New York’s South Central Park, reports Mirror Now. Reports propose he might live there with his family.

9.21pm: The CBI Says PNB protest to it said that Mehul Choksi and his organizations caused lost Rs 4,886 crore to the bank, reports CNBC-TV 18.

8.15pm: The Reserve Bank of India says it has coordinated Punjab National Bank (PNB) to meet its duties under the Letter of Undertaking (LOU) to different banks. “RBI denies having given any such guidelines,” says the announcement.

8.00pm: “The misrepresentation in PNB is an instance of operational hazard emerging by virtue of reprobate conduct by at least one workers of the bank and disappointment of inward controls. The RBI has just attempted a supervisory appraisal of control frameworks in PNB, and will make a suitable supervisory move,” says the RBI.

7.38pm: The ED enrolls another body of evidence against Nirav Modi on Friday. Both Nirav Modi and Mehul Choksi summoned by the ED to show up before its Mumbai Office on 23rd February, reports ANI

Add up to areas assaulted: 35

Inquiries held in states: 11

Add up to seizure: Rs 5,700 crore

7.35pm: After the present inquiries, add up to seizure from Nirav Modi’s property adds up to Rs 5,700 crore, reports India Today

7.21pm: AAP pioneer and Delhi Chief Minister Arvind Kejriwal have requested that the Modi government give a particular course of events to bring back Vijay Mallya and Nirav Modi to India.

BJP govt shud give particular courses of events by when will they take Vijay Mallya and Neerav Modi back to India. By when will the cash be recouped from them?


6.56pm: Jewelry dealers expect that after the Rs 11,400-crore bank extortion including very rich person Nirav Modi, the banks would now be warmer, which would hurt their credit stream, reports Firstpost. They asked in light of the misrepresentation, the whole business ought not to be marked as ‘dangerous’ industry.

6.10pm: The Income Tax (I-T) authorities issue new notice to Nirav Modi.


IT authorities glue see outside #NiravModi ‘s boutique in Mumbai’s Kala Ghoda #PNBFraudCase

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5.33pm: Nirav Modi’s identification has been suspended, he can’t go anyplace from the place he is at the present time. travel permit suspend sharpen ke baad woh kahi nahi ja sakte,” says MEA representative Raveesh Kumar.

5.29pm: Former Banking Secretary Rajiv Takru says he met ex-Allahabad Bank Director Dinesh Dubey just once in his life. “I met this individual just once in my life. He had gone to my office to leave in 2013. The explanation for abdication was that he was troubled by something. I acknowledged his abdication. I have never addressed him,” he told the ANI.

5.23pm: Nirav Modi was not a piece of the PM Modi designation to Davos, says Raveesh Kumar, MEA representative, including that the ‘photo’ that is being coursed was a piece of a casual session with CEOs who enroll for the occasion individually. “It was an off the cuff picture.”

5.13pm: PNB Managing Director Sunil Mehta was the general administrator at the Allahabad bank when I featured the Mehul Choksi issue in 2013, previous Allahabad Bank Director Dinesh Dubey reveals to India Today. “I had asked the administration to first recuperate the past credit from Gitanjali Gem before discharging new advance, yet I was advised this should have been done request to stop NPAs and to run banks.”

5.00pm: Union Minister Prakash Javadekar says this is a misrepresentation that occurred amid the UPA government. “This became exposed when we chose to resuscitate the whole saving money framework, after which this whole trick became visible. In this way, it’s UPA’s trick that has been exposed by the BJP government.

4.50pm: The whole managing an accounting framework had falled amid the UPA. The trick stayed far from anyone’s regular field of vision in the vicinity of 2011 and 2014, and it became exposed after the NDA government fixed the keeping money standards, says Javadekar.

4.46pm: This is the ‘managing an account extortion’ not the ‘administration misrepresentation’. We, then again, enabled all the requirement offices to accelerate the examination. We have likewise appropriated his properties worth over Rs 5,100 crore, says Javadekar.

4.45pm: Former CBI chief AP Singh says it could take months and years to track Nirav Modi’s abroad cash trail.

4.41pm: Congress president Rahul Gandhi’s legitimate Twitter handle has characterized the present ‘bank misrepresentation’ through a condition, calling it an escape recipe.

4.40pm: Dinesh says the embarrassment that began amid the season of the UPA has not grown 50-times. “UPA Sarkar se chala hua aaya kand aaj NDA sarkar mein 10 gunas, 50 gunas badh gaya,” says Dinesh Dubey.

4.33pm: According to ANI, previous Allahabad Bank Director Dinesh Dubey says he had sent a dispute note against giving an advance to Gitanjali Gems to the administration and the RBI in 2013 however without much of any result.

4.28pm: Under the Modi government’s new plan ‘Udaan’, each scamster can fly undetected, says Congress.

4.22pm: The bank extortion trick could add up to around Rs 30,000 crore, says Congress representative Randeep Surjewala.

4.02pm: Reserve Bank of India (RBI) information, which Reuters acquired through a right-to-data ask for, indicates state-run banks have detailed 8,670 “credit misrepresentation” cases totaling Rs 612.6 billion ($9.58 billion) in the course of the last five money related a very long time up to March 31, 2017.

2.00pm: The offers of Gitanjali Gems tank another 20% in morning exchange after the identification of Punjab National Bank’s Rs 11,400-crore extortion. Gitanjali Gems is one of the organizations charged by researching offices for intriguing with Nirav Modi in doing the misrepresentation.

Additionally, read Gitanjali Gems tanks 40% since February 14, Rs 300 crore in advertise top wiped out

1.55pm: Finance Ministry sources disclose to ANI that more than 50 organizations with connections to Nirav Modi will be assaulted by the CBI, the Enforcement Directorate (ED), and the Income Tax Department.

1.50pm: The FIR documented by CBI incorporates more 143 Letters of Undertaking (LoU) and 224 outside letters of credit.

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