Latest News
-
CRISIL March 2024 Quarter Sees 5.51% Net Profit Drop; Dividend Announced -
Apollo Tyres Gets Rs 2.06 Crore Tax Demand -
Closing Bell: Market Ends Lower For The 3rd Straight Session; Sensex & Nifty Plunge Lead By IT Stocks -
India's Unemployment Rate To Decline 97 Basis Points By 2028, ORF Report Says -
Tohfa, Tohfa, Tohfa: Tata's NBFC To Power; 9 Tata Group Stocks To Pay Massive Dividends In Coming Weeks -
Penny Stock Below Rs 50 Announces Major Update On 6:11 Bonus Shares; Bet? -
Indian Rupee Hits Record Low Amid Middle East Concerns And Fed Rate Speculations -
Gold Rates In UAE: Huge Jump Of Nearly Rs 1,000 In 24-Carat Yellow Metal In Dubai; WHY? -
Nykaa’s Co-founder Adwaita Nayar Named Young Global Leader In WEF’s Class Of 2024 -
2:5 Bonus: Buy Auto Ancillaries Stock Amid Growing Buying Interest, TP Rs 140: Dividend Soon
Billionaire Nirav Modi Accused in Rs 280 Cr PNB Cheating Case
The Central Bureau of Investigation (CBI) has charged celebrity jeweller Nirav Modi and Punjab National Bank (PNB) officials for cheating the bank for over Rs 280.7 crores. His brother Nishal Modi and
The Central Bureau of Investigation (CBI) has charged celebrity jeweller Nirav Modi and Punjab National Bank (PNB) officials for cheating the bank for over Rs 280.7 crores. His brother Nishal Modi and wife Ami, all partners of Diamon R US, Solar Exports, Stellar Diamonds were also accused in a complaint filed by PNB.
The Income Tax officials have raided his offices in Surat, Jaipur, and Delhi on January 31.
Nirav Modi is diamond jewellery designer and founder of Firestar Diamond. He has a brand under his own name "Nirav Modi" headquartered in Mumbai. He has boutiques in London, New York, Las Vegas, Hawai, Singapore, Beijing, and Macau. His clients include renowned celebrities around the world.
The parties charged have been accused of collectively conspiring with bank officials causing wrongful loss. A report says that the deputy manager Gokul Nath Shetty (who is now retired) and Manoj Kharat fraudulently issued LOU (Letter of Undertaking) without following prescribed procedures.
