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Former managing director of Maruti Suzuki India, Jagdish Khattar, passed away on Monday morning following a cardiac arrest, according to people close to him. Khattar (79), a former bureaucrat, was considered as one of the most high profile leaders of the Indian automotive industry, laying the foundation for Maruti's future growth after the government began its disinvestment in 2002 and gradually exited from its joint venture with Suzuki Motor Corporation (SMC). He had joined the then Maruti Udyog Ltd in July 1993 as director (marketing) and went on to become executive director (marketing) in the next six years.
Westminster magistrates' court judge Nina Tempia confirmed that Modi's extradition trial is scheduled between May 11 and 15 next year and that he must re-appear via videolink every 28 days for "call-over hearings" until the case management for the trial kicks in from February next year.
With a UK court ruling in favour of the extradition of fugitive diamond merchant Nirav Modi, wanted in India on charges of fraud and money laundering in Punjab National Bank (PNB) scam case, Mumbai's Arthur Road jail has kept a special cell ready to lodge him, an official said on Friday.
Will Parliament function on ninth day of second leg of budget session.
The Crown Prosecution Service said the hearing for his bail petition will take place on June 11.
He has been lodged at Wandsworth prison in south-west London since his arrest in March in connection with the nearly $2 billion Punjab National Bank fraud and money laundering case.
The Congress had on Thursday targeted Modi for the presence of Punjab National Bank fraud accused jewellery designer Nirav Modi in an Indian business delegation at the World Economic Forum in Davos.
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
Modi also reiterated that he cannot return to India due to safety concerns and also because his case has been politicised.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
The ED had summoned Patel, 70, twice for questioning in the case but the Congress Rajya Sabha MP from Gujarat later cited prevailing COVID-19 guidelines that advises senior citizens to stay indoors in order to remain safe from the pandemic.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
Nirav Modi's lawyer raised a British court's judgment blocking the extradition of WikiLeaks founder Julian Assange to the US on mental health grounds, as the embattled diamond merchant appeared via videolink before a court here on Thursday for a two-day hearing of final submissions in his fight against being extradited to India. The 49-year-old diamond merchant, facing charges of fraud, money laundering and intimidating witnesses in the estimated $2-billion Punjab National Bank (PNB) scam case, appeared in the Westminster Magistrates' Court. Sporting a full beard and dressed casually in a blazer, he followed the proceedings from a room at Wandsworth Prison in south-west London as his counsel raised Monday's judgment which blocks the extradition of Assange to the US on the grounds of his mental health.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The Indian High Commission in London on Thursday welcomed the Westminster Magistrates' Court ruling in the extradition case of diamond merchant Nirav Modi, wanted in India to stand trial on charges of fraud and money laundering related to the Punjab National Bank (PNB) letters of undertaking (LoUs) scam case. A senior diplomat at India House said the judgment, which found a prima facie case against the accused, paves the way for the government of India and the high commission officials to liaise with the UK authorities on the next stages of the procedural matters for his early extradition to India. "The judgment paves the way for the government of India, including the High Commission of India in London, to liaise with the UK authorities on the procedural matters," said the diplomat at the High Commission. "As with previous extradition cases, we will press on with the next steps," he said.
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
The Dominica high court on Wednesday ordered that diamantaire Mehul Choksi be produced before a magistrate there to answer charges of his illegal entry into the Caribbean island country, local media reported. Dominica high court Judge Bernie Stephenson issued the orders after nearly three hours of hearing on a habeas corpus petition filed on behalf of Choksi who had claimed that he was abducted from neighbouring Antigua and Barbuda and forcefully brought to the Caribbean Island nation. She adjourned the habeas corpus matter till Thursday, Dominica News Online reported.
Punjab National Bank has made a name for itself in recovery of bad loan dues. Usha Ananthasubramanian, managing director and chief executive officer of the government-owned lender, explains how it has achieved this reputation.
During the course of the hearing last month, it emerged that Modi had made death threats to witnesses and also attempted to destroy evidence such as mobile phones and a server holding "material critical to the fraud".
A summary of sports events and sports persons, who made news on Sunday
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Punjab National Bank Chairman and Managing Director K C Chakraborty has emerged as the frontrunner for the post of the fourth deputy governor of the Reserve Bank of India (RBI).
He said that Government of Dominica and law enforcement agencies, unless the court rules otherwise, can deport him to India because he is an Indian citizen, Antigua News Room reported.
The bank also announced that it will reduce its external benchmark linked lending rate as well as repo linked lending rate by 40 basis points from July 1.
Fugitive diamantaire Mehul Choksi, wanted in a Rs 13,5000-crore loan fraud in Punjab National Bank, has gone missing in Antigua and Barbuda where he had been staying since January 2018, the Royal Police Force of the Caribbean island nation said in a statement.
The industry body has issued two advisories in an attempt to restore jewellers credibility in the wake of the Rs 12,000-crore PNB-Nirav Modi scam, and recent defaults by two domestic jewellers - Goodwin and Rasiklal.
He appeared via videolink from the prison as his legal team offered a package of "stringent" bail measures, including bail security of 4 million pound, house arrest with a 24-hour electronic tag as well as a private security guard service and a strictly monitored access to gadgets and telephones.
The US Department of Justice declined to comment on Modi.
Banks will also have to seek borrower's status report from Central Economic Intelligence Bureau on the account turning NPA
Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Punjab National Bank has the largest share.
Favourites Indian Oil retained the Beighton Cup hockey title, outplaying Punjab National Bank (PNB) 5-2 in the title clash in Kolkata on Sunday.
The diamond merchant, who has been behind bars at HMP Wandsworth in south-west London ever since his first bail application was rejected on March 20, can apply for a high court bail appeal at any time until his next remand hearing on April 26.
State-run Punjab National Bank will cut its prime lending rate to 11 per cent effective June 1 from 11.25 per cent, its chairman S S Kohli told reporters on Monday.
Modi's defence team doubled the bail security to 2 million pounds and offered he would stay on 24-hour curfew at his London flat.
Modi, a diamond jeweller whose designs have been worn by Hollywood stars, is now believed to be running a new business, which describes itself on the UK's Companies House register as a wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores.
