The 49-year-old jeweller, wanted in India on charges of fraud and money laundering in the estimated USD 2-billion Punjab National Bank (PNB) scam case, further remanded in custody during a routine call-over hearing held via videolink at Westminster Magistrates' Court in London.
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
The third day of the five-day hearing at Westminster Magistrates' Court, presided over by Justice Samuel Goozee, was devoted to the defence laying out further arguments against a prima facie case of fraud and money laundering against Modi.
Modi is subject to two sets of criminal proceedings, the first brought by the CBI relating to a large-scale fraud said to have been committed upon PNB and the ED case, relating to the laundering of the proceeds of that fraud.
"I can assure you that he will be ultimately deported after exhausting all his appeals. He will be extradited back to India to face whatever charges against him. It is just a matter of time," Gaston Browne told ANI.
Choksi filed the affidavit in connection with two petitions submitted by him in the HC seeking dismissal of an application filed by the ED in a special court for declaring him a fugitive economic offender.
Vikram Kothari took a loan of Rs 485 crore from Mumbai-based Union Bank of India and a loan of Rs 352 crore from Kolkata-based Allahabad Bank. A year later, Kothari has reportedly not paid back either the interest or the loan.
The Delhi high court on Friday dismissed a plea by Mehul Choksi, an accused in the nearly USD 2 billion PNB scam, to conduct pre-screening of Netflix documentary Bad Boy Billionaires.
The ED has charged the accused under various sections of the Indian Penal Code and the Prevention of Money Laundering Act (PMLA) in the over Rs 13,000 crore PNB scam case.
The public offer of eight crore shares by Punjab National Bank, which closed on Friday, has attracted bids for 104.37 crore shares - a subscription of 13 times.
Equity markets will look for directions from global trends, ongoing quarterly earnings and investment patterns of foreign institutional investors (FIIs) in a holiday-shortened week ahead and may encounter volatility amid the scheduled monthly derivatives expiry, according to analysts. Equity markets will remain closed on Wednesday on account of 'Republic Day'. "This week is a holiday-shortened one and it's going to be critical due to the list of events and data that are lined up.
The authorities have received the opinion of structural engineers, and would start removing exotic fittings, valuable fixtures, window grills and other utensils, as per their advice. They also found cushions, glass frames, a plush swimming pool and a spa, furniture made from Burma teak.
Vipul Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
Most of those punished were managers across different scales, from Scale 7 (general managers) to Scale 1 (officers). However, at least one bank - Oriental Bank of Commerce - revealed that 17 single-window operators (SWOs), five head cashiers, two clerks, one clerk-cum-cashier, and one peon-cum-housekeeper were among those penalised for staff delinquency. Punishments against these employees included withholding of increment, demotion for one year, and censure under provisions of the bipartite settlement.
From hitting the 1,000-mark on July 25, 1990 to reaching the 60,000-mark for the first time on Friday, it has been a historic and memorable journey for the benchmark index Sensex. It has taken a little over 31 years for the Sensex to traverse from 1,000 level to the famed 60,000 level now. Over the years, the frontline index has climbed several record levels. The index had reached the 10,000-mark for the first time on February 6, 2006.
Police in Dominica captured Choksi on Tuesday night (local time) after an Interpol Yellow Notice was issued by Antigua and Barbuda.
The United Kingdom's home department has cleared the extradition of fugitive diamantaire Nirav Modi, who is wanted in an over Rs 13,000-crore bank fraud case, officials said on Friday.
He is believed to have been living in the UK on an Investor Visa, applied for in 2015
Jugraj made his International debut against France during the FIH Hockey Pro League matches in South Africa
In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there were "substantial grounds" to believe that Modi would fail to surrender as he does possess the means to "abscond".
The judge also asked the Indian government to provide within 14 days the information on which prison he will be held at.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
'We will infuse the next tranche of recapitalisation by mid-December. Close to Rs 42,000 crore remain to be infused as capital in public sector banks in the current financial year,' a senior finance ministry official said.
The legal procedure of extradition of an accused takes its own time and Indian investigators, both from the CBI and ED, are tracking the case.
The attached properties include three commercial assets based in Dubai, a Mercedes Benz car and a number of fixed deposits in bank accounts in the country and outside, the agency said.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The case of phishing involves a senior manager with Dabur India Ltd, Sahibabad, who lost about Rs. 8 lakh in the fraud.
They said the global arrest warrant against the Belgian national Nehal, 40, has been issued on charges of alleged money laundering that is being probed by the Enforcement Directorate.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
The PNB ambassador is Virat Kohli, Priyanka Chopra and Siddharth Malhotra are the faces of the Nirav Modi label, Kangana Ranaut, Kriti Sanon and others endorse the family of brands under the Gitanjali Group.
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
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
The Punjab National bank on Friday announced 0.25 per cent cut on interest rates for home and car loans, effective from Saturday, September 23.\n
Antigua and Barbuda Prime Minister Gaston Browne has asked neighbouring Dominica, where fugitive businessman Mehul Choksi was caught, to hand the diamantaire over to India directly, local media reported.
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
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