The demolition of a sprawling sea-front bungalow in Alibaug, owned by fugitive businessman Nirav Modi, has been stalled over bureaucratic procedures read more

Fraud was detected when PNB launched internal probe related to Nirav Modi scam, police said. read more

The CBI on Friday termed a complaint by special director Rakesh Asthana against its director Alok Verma before the Central Vigilance Commission as ‘intimidation’ of officers probing the former’s role in at least six cases. read more

Investigators had seized documents from the law firm in connection with the Punjab National Bank fraud case. The bank had in January alleged that diamond merchant Nirav Modi and his uncle had for years fraudulently raised billions of dollars in foreign... read more

The illegal constructions include the bungalow of fugitive businessman Nirav Modi and Mehul Choksi read more

Congress president Rahul Gandhi alleged on Twitter that AK Sharma had played a crucial role in weakening the lookout notice against Vijay Mallya and in the escape plans of fugitive diamond traders, Nirav Modi and Mehul Choksi. read more

The agency, which is probing the Rs 14,000 crore alleged bank fraud, said Mehul Choksi was “using several dummy companies” to rotate funds and to divert money for his personal use. read more

Fugitive jeweller Mehul Choksi defended himself in the Punjab National Bank(PNB) scam in a video statement from Antigua. He said that the PNB misinformed agencies against him and employees resigned from his company for the same reasons. An ED investigation has found that absconding jeweller Mehul Choksi diverted over Rs 3,250 crore funds, allegedly defrauded from a PNB branch in Mumbai, to foreign shores and he was in business of “highly inflating” prices of precious metals sold from his outlets. The businessman has rejected the charges as “baseless”. (HT Correspondent )read more

In a note to Chairman of Estimates Committee, Raghuram Rajan said a variety of governance problems such as the suspect allocation of coal mines coupled with the fear of investigation slowed down government decision making in Delhi, both in the UPA and... read more

In its chargesheet, the Enforcement Directorate has said Choksi allegedly diverted $ 56.12 million (about Rs 400 crore) of loan funds to Nirav Modi and about $ 50 million (Rs 360 crore approx) to Modi’s father Deepak Modi. read more

The central bank could have been more decisive in enforcing penalties on non-compliant banks, former RBI governor Raghuram Rajan has said in a note to Parliamentary panel. read more

India’s request to Antigua and Barbuda for the extradition of fugitive diamond merchant Mehul Choksi may finally be decided in the United Kingdom, where India is already fighting a case for the extradition of Vijay Mallya. read more

The home ministry will send the extradition request to Belgium, where Neeshal Modi is believed to be holding up. read more

Former Prime Minister Manmohan Singh on Monday urged all opposition parties to shed their differences and move to save sovereignty and democracy in the country as he attacked the Narendra Modi-led government for “crossing the limit.” Singh was speaking during a protest rally at the Ramlila ground in New Delhi against rising fuel prices organised by the Congress and joined by various opposition parties.

(Sonu Mehta / HT Photo)read more

The Enforcement Directorate has charged Purvi Deepak of playing a major role in laundering money generated from the Punjab National Bank fraud case, including being the owner and director of several shell companies. read more