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June 2018
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News Headlines
Dantewada: Goods train derailed, Naxal hands suspected        Never planned to meet Railway Minister Piyush Goyal in Delhi: Kerala CM Pinarayi Vijayan        GST rides on federalism: Narendra Modi        15 Killed, 10 Injured as Tractor-trolley Falls Into Canal in Telangana        Saudi Arabia's ban on women driving ends officially        White House spokesperson Sanders says she was kicked out of restaurant        Germany: Huge explosion rips through apartment building, leaves 25 injured        Hat-trick hero Kane helps England reach knockouts after beating Panama 6-1        Roger Federer loses No.1 spot as Borna Coric stuns him in Halle Open final        Federer beats Kudla to reach 12th Halle final        Hockey: Clinical India crush Pakistan 4-0 in CT opener        Infosys stable and on verge of something momentous: Nilekani        Boko Haram raid kills five in Nigeria: residents        Musharraf says he has not quit politics        AP will be torn apart if 'monkey gangs' come to power: CM        Congress neglected development of cities: PM        BJP will not allow Kashmir to get disintegrated from India: Shah        Wary of hacks, World Cup teams get serious on cybersecurity        You pass YoYo test, you play for India, says Shastri, Kohli endorses        Prof Debashis Chatterjee assumes charge as Director of IIM-K        
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Business News
PNB fraud: ED attaches Nirav Modi’s properties worth Rs 171 cr
 
(New Delhi, May 21, 2018):The Enforcement Directorate (ED) on Monday said that it has attached more properties of absconding diamantaire Nirav Modi worth Rs 171 crore as part of its probe in the multi-crore Punjab National Bank (PNB) fraud.

“During further investigation, more properties and bank accounts beneficially owned by Nirav Modi were unearthed. And based on the bank statements, property documents and statements recorded of the persons concerned, under sections of the Prevention of Money Laundering Act (PMLA), 2002, and the money trail derived during the course of investigation, properties worth Rs 171. 26 crore in the form of movable and immovable properties have been provisionally attached,” an ED official said in New Delhi.

The official said that the attached properties includes four commercial premises in Mumbai and Surat (with present market value worth Rs 72.87 crore), 106 bank accounts (with account balance of Rs 55.12 crore), 15 demat accounts (with Rs 35.86 crore) and 11 cars valued at Rs 4.01 crore.

The financial probe agency’s action comes after it registered a separate case against the diamond jeweller and his uncle Mehul Choksi of the Gitanjali Group for defrauding the banks to the tune of Rs 14,500 crore.

Till date, the ED has carried out searches at over 251 properties across the country and seized diamond, gold, precious and semi precious stones, pearls. The ED has also attached immovable properties belonging to Nirav Modi Group and Mehul Choksi group to the tune of Rs 7,638 crore.

The fraud was committed during 2011-17 by illegally issuing Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs). Choksi, Modi and his family fled in January around a month before the PNB filed first complaint against them about the fraud and they are still at large.


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KERALA NEWS
Kerala among 13 states on thunderstorm alert
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INTERNATIONAL NEWS
Saudi Arabia's ban on women driving ends officially
 (Riyadh, June 24, 2018):Saudi women are now officially allowed to get behind the wheel after
White House spokesperson Sanders says she was kicked out of restaurant
Germany: Huge explosion rips through apartment building, leaves 25 injured
Boko Haram raid kills five in Nigeria: residents
NATIONAL NEWS
Dantewada: Goods train derailed, Naxal hands suspected
 (Dantewada, June 24, 2018):Eight coaches and engine of a goods train travelling through Dante
GST rides on federalism: Narendra Modi
15 Killed, 10 Injured as Tractor-trolley Falls Into Canal in Telangana
AP will be torn apart if 'monkey gangs' come to power: CM
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