Confiscation of the tycoon's properties will start from February 5.
In March this year, he quit to start his own firm for equity syndication to cater to small and medium enterprises in smaller towns. Huzefa Sitabkhan, who was working with one of the domestic investment banks (i-banks), left to start PNR Consulting, an advisory and consultancy firm for equity and debt syndication for SMEs.
Gitanjali Group, the Rs 4,500-crore (Rs 45 billion) diamond-studded jewellery manufacturing firm, has evinced interest in setting up a special economic zone (SEZ) for diamond processing industry near Bangalore.
Gitanjali Gems is close to acquiring a US-based jewellery retail chain with sales of about $100 million. The deal, if it goes through, would be the company's second acquisition in the world's largest jewellery market. Though the deal size and name of the company could not be ascertained, sources said that the acquisition is expected to be completed in 30 days.
In all, 292 allegedly fraudulent LoUs and 224 foreign letters of credit were generated and money sanctioned to Nirav Modi's companies since 2011
While in custody and until the first hearing in his extradition case next week, Modi is likely to be held in a separate cell but may also have to share a cell with other prisoners given the overcrowding pressures.
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
Bank provides for Rs 7,178 crore, or 50 pf of the total amount of the Rs 14,356 crore scam, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
Finance Minister Arun Jaitley revealed that the government wanted to give Hasmukh Adhia a post-retirement role, but Dr Adhia said he would not work for a single day after November 30.
All five students are students of the Indian Institute of Technology.
Nirmala Sitharaman said Nirav Modi may have been able to run away from the country, but the government is taking action against him, and claimed that it will "surely nab him".
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
Gandhi said Modi had "claimed that he wants to be a 'chowkidar' (watchman of the country) but he actually proved to be a 'chowkidar' of Anil Ambani, Mehul Choksi and Nirav Modi and has been working for them since last four years."
The singer gets real in an honest, fun session with his fans.
The agency has written to the Interpol to issue a Red Corner Notice which would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite Nirav Modi
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The judge fixed April 26 as the next date of hearing when he will appear via video link from jail.
Upgradation to the new product (from Infosys) will stabilise by this month-end
The ED conducted further searches at 21 locations across India.
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
Nicholas Rodrigues also scored a hat-trick as Goa overwhelmed Tripura 15-0 in a cluster league match in the National football championship.
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
Judge Dinesh Gupta let off the right-wing activist and six others, giving them "benefit of doubt".
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
The CBI on Wednesday directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
'Modi's speech was like one of our sour food preparations; Rahul's was sweet.'
Precious ornaments are estimated to become 3% costlier under GST
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Mehuli Ghosh's effort will, however, not be considered as a world record, as the South Asian Games' results are not recognised by the international body (ISSF) for the purpose of records.
Besides Joseph, one of the lawyers defending Michel is a member of the Congress' youth wing while the father of another is a party member, Patra claimed at a press conference.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
