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Mehul Choksi siphoned off close to <span class='webrupee'>₹</span>7,080 crore in the <span class='webrupee'>₹</span>13,578 crore Punjab National Bank (PNB) fraud before fleeing to Antigua on January 4, 2018, a month before the mega-scam came to notice.(HT Photo)

Antigua begins process to revoke citizenship of Mehul Choksi

By Neeraj Chauhan, New Delhi
UPDATED ON MAR 01, 2021 12:18 PM IST
The development was confirmed to HT by at least two officers in CBI and Enforcement Directorate, who added that the fugitive businessman is currently fighting revocation of his citizenship
Judge Sam Goozee further said that he found Katju’s “evidence and behaviour in engaging the media the day before giving evidence to be questionable”.(HT file photo)
Judge Sam Goozee further said that he found Katju’s “evidence and behaviour in engaging the media the day before giving evidence to be questionable”.(HT file photo)

UK Court terms Markandey Katju’s testimony in Nirav Modi trial unreliable

By Neeraj Chauhan, New Delhi
PUBLISHED ON FEB 26, 2021 05:07 AM IST
Katju last year appeared in the Westminster court as an expert defending Nirav Modi saying the fugitive jeweller would not receive a fair trial in India.
Jail authorities said the 300sq feet cell has been made to provide its inmate the facilities of a well-equipped apartment with French windows for ventilation and a view of the exterior.
Jail authorities said the 300sq feet cell has been made to provide its inmate the facilities of a well-equipped apartment with French windows for ventilation and a view of the exterior.

Refurbished cell at Arthur Road jail awaits high-profile inmate like Nirav Modi

By HT Correspondent, Mumbai
PUBLISHED ON FEB 26, 2021 05:02 AM IST
On Thursday, Modi lost his bid to avoid extradition from the UK to India to face charges that he was involved in a 13,600 crore fraud at Punjab National Bank when district judge Samuel Goozee ruled in London that the jeweller has a case to answer before Indian courts.
Unless PNB gets fresh capital in time, it may be unable to make the payment because an unprecedented loan-fraud wiped out its profits and pushed the bank’s capital below mandated levels, according to the local unit of Fitch Ratings.(Reuters File Photo)
Unless PNB gets fresh capital in time, it may be unable to make the payment because an unprecedented loan-fraud wiped out its profits and pushed the bank’s capital below mandated levels, according to the local unit of Fitch Ratings.(Reuters File Photo)

Govt set to inject Rs 2000 crore into fraud-hit Punjab National Bank by next week

Bloomberg | By Siddhartha Singh and Anto Antony
UPDATED ON JUL 17, 2018 01:15 PM IST
Fraud-hit PNB needs to pay about Rs 135 crore to cover the 8.98% annual interest on Rs 1500 crore worth of so-called AT1 bonds sold in July 2017.
A man reads a newspaper outside a branch of Punjab National Bank (PNB) in Ahmedabad.(Reuters File Photo)
A man reads a newspaper outside a branch of Punjab National Bank (PNB) in Ahmedabad.(Reuters File Photo)

PNB shares down over 3% after internal report blames procedural lapses for Nirav Modi fraud

Press Trust of India | By Press Trust of India
PUBLISHED ON JUN 21, 2018 05:36 PM IST
The stock declined 3.08% to settle at Rs 83.40 on the BSE. During the day, it dropped 3.66% to Rs 82.90.
The logo of Punjab National Bank (PNB) is seen on a branch office window in New Delhi, India.(Reuters File Photo)
The logo of Punjab National Bank (PNB) is seen on a branch office window in New Delhi, India.(Reuters File Photo)

Fitch downgrades PNB’s viability rating to ‘BB-’ following Nirav Modi fraud

Indo Asian News Service, New Delhi | By HT Correspondent
UPDATED ON APR 10, 2018 05:13 PM IST
“The downgrade follows our assessment of how losses resulting from fraudulent transactions reported in February 2018 will affect the bank’s financials, including its earnings and core capitalisation”, Fitch said.
A branch of Punjab National Bank in Ahmedabad.(Reuters file photo)
A branch of Punjab National Bank in Ahmedabad.(Reuters file photo)

Nirav Modi fraud is bank’s issue, won’t seek govt help: PNB

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON APR 09, 2018 08:01 PM IST
The bank has enough resources and capability to meet the challenges posed by the fraud of this nature.
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