Finance Minister Nirmala Sitharaman on Thursday said that fugitive businessmen Vijaya Mallya, Nirav Modi and Mehul Choksi are "coming back" to India" to face the law.
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
ED attached 21 properties of Nirav Modi and his group worth over Rs 523 crore.
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
According to the RTI reply, absconding diamantaire Choksi's company Gitanjali Gems tops the list of the defaulters with a whopping amount of Rs 5,492 crore. This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore. Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies to default on the payment. Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.
However, Jaitley's son-in-law had earlier issued a statement stating that his law firm had returned the retainership the moment they came to know that the company was involved in a scam.
Gitanjali Gems and Firestar Diamonds together account for 5.8 per cent of the diamond and jewellery trade in India.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
Hitting back at Prime Minister Narendra Modi for his corruption jibe at the Opposition, Congress president Mallikarjun Kharge on Wednesday accused him of running a "bhrashtachari bhagao abhiyan" (make the corrupt flee campaign), and said that he must stop his image makeover by posing as an anti-corruption crusader.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
The Shiv Sena said Opposition was not targeted in such manner even during Emergency
Sena said many banking frauds have come to fore during the Modi regime.
Wanted diamond merchant Nirav Modi on Thursday lost his fight against being extradited to India as a United Kingdom judge ruled that he can be sent back to face charges of fraud and money laundering in the estimated $2 billion Punjab National Bank scam case.
The judge fixed April 26 as the next date of hearing when he will appear via video link from jail.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
With the entire fraud amount becoming a non-performing asset, around 25 per cent of the bank's estimated net worth of Rs 40,000 crore could be affected.
The task force has provided probe agencies with a list of attributes, including disproportionate investments, debt, advances or cash, to red-flag such firms.
The RBI will take action against, apart from erring auditors, those responsible for wrong information in a bank's financial statements, incorrect certification given by auditors, wrong information given in the Long Form Audit Report, and any other violations of the RBI's rules and regulations on auditing.
'Modi's speech was like one of our sour food preparations; Rahul's was sweet.'
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
Rahul reiterated that there was massive corruption in the Rafale deal.
The opposition party questioned why the government took five years after the liquidation proceedings of ABG Shipyard to lodge an FIR in connection with the alleged duping of 28 banks.
The protesting students claimed that when they reached Red Fort, police did not allow them to take out the march but they did not budge and said they would make their voices heard.
Gokulnath Shetty, then deputy manager (now retired), Manoj Kharat, a single window operator of PNB, and Hemant Bhat were taken into custody by the agency
'The Modi-Shah duo won't leave the war zone without putting up a tough fight.' 'Modi's slogan for 2019 could well be, "I have done much. Give me one more chance to do even more".' '2019 will be tough for the BJP.' 'But it will be even tougher for the Opposition -- united or otherwise,' says R Rajagopalan.
The bench also extended the interim protection from arrest granted to Chidambaram till September 5.
Congress leader Rahul Gandhi on Monday told a sessions court in Surat his conviction by a magistrate's court in a 2019 defamation case over his "Modi surname" remark was erroneous, patently perverse, and he was sentenced in a manner so as to attract disqualification as a member of Parliament.
The Congress is seeking to oust the BJP government in Haryana in the October 21 polls.
'Change is the rule of politics.'
'The Modi government needs some big private sector trophies to affirm its anti-corruption credentials before the polls.' 'So on whose neck will the sword fall next?' 'To that extent, the outing of the ICICI Bank-Videocon story is cathartic,' says Shekhar Gupta.
#MainBhiChowkidar was trending world wide on Twitter.
Syed Firdaus Ashraf/Rediff.com attended the Congress president's rally in Mumbai on Friday, and explains why people who came with high hopes left disappointed.
Shah said the Opposition's 'irresponsible' conduct caused a loss of over Rs 333 crore of public money and the ruling National Democratic Alliance MPs' decision to forgo their salaries was a 'call of conscience'.
'Teaching lessons is the objective behind every school.' 'For the moment, a state seems intent to teach a lesson -- that students of Classes 4, 5 and 6 can wage war against the mighty Indian nation,' says Krishna Prasad.
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