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
Jugraj made his International debut against France during the FIH Hockey Pro League matches in South Africa
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
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.
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.
The jeweller, who had left the country before Punjab National Bank approached the CBI with complaint against him and Nirav Modi, said the media continued to conduct a trial by itself blowing each and every issue out of proportion.
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 Reserve Bank of India (RBI) would further cut down key policy rates with inflation continuing its downward trend, Punjab National Bank chairman and managing director K C Chakrabarty said.
Gandhi also labelled Mann Ki Baat a monologue.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
The Singapore high court has put a freeze on deposits of $ 6.122 million following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the Punjab National Bank.
Punjab National Bank has revised the interest rate on the Foreign Currency Non-resident Bank deposits denominated in dollar, pound and euro.\n\n
1975 World Cup-winning captain Ajit Pal Singh will supervise its functioning.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
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.
Nirav, 48, appeared before the Westminster magistrates' court via videolink from his London prison for a routine "call-over" remand hearing.
Decades apart, but the drama linked to the two appears similar, says Nivedita Mookerji.
The ED on Monday also examined the state-owned bank's executive director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
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.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
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.
In the atmosphere created by the reaction to the PNB fraud and RBI's resolution framework, "don't lend, don't resolve" is bound to become the bankers' new mantra, says T T Ram Mohan.
Banking stocks led by SBI, ICICI Bank, Bank of Baroda, PNB, Kotak Bank, HDFC Bank, Axis Bank, Federal Bank and Yes Bank fell as much as 2.77 per cent.
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.
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.
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 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 Crown Prosecution Service said the hearing for his bail petition will take place on June 11.
Watch all the debates and discussions live.
Watch all the debates and discussions live.
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.
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.
Will Parliament function on ninth day of second leg of budget session.
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.
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