Naresh Goyal only gave an undertaking not to sell any of his 51% stake in return for raising working capital debt from PNB.
He is set to be produced from custody before Judge Emma Arbuthnot for the first management hearing in the case, during which a broad timeline is expected for his extradition trial.
The bank will be responsible for taking the mixed gold to mint and getting it purified.
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
While the fixtures from the bungalow will be up for auction, three items, a jacuzzi, a chandelier, and a Buddha statue, have been kept aside for handing over to the ED.
Rajan said it is hard to offer an objective self-assessment but the RBI should probably have raised more flags about the quality of lending in the early days of banking exuberance.
PNB officials entered into a criminal conspiracy with 19 accused companies, the FIR alleges.
His legal team, led by solicitor Anand Doobay, have previously offered one million pounds as security alongside an offer to meet stringent electronic tag restrictions on their client's movements, "akin to house arrest".
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
The PMLA court in Mumbai has sought their appearance on September 25 (Nirav Modi) and 26 (Mehul Choksi) respectively under the fugitive economic offender law.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
The Antiguan prime minister had told Indian government that even criminals have fundamental rights and Choksi, too, has the right to go to court and defend his position, adding, once all legal options are exhausted, he will be extradited.
Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans
Nehal, 41, is charged in a New York Supreme Court indictment with Grand Larceny in the First Degree, Manhattan District Attorney Cy Vance, Jr. said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Government officials were struggling to understand why the lenders denied emergency funds even after giving verbal assurances on providing Rs 1,200 crore.
A section of analysts feel now may not be a bad time to buy select PSBs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Clare Montgomery, Modi's barrister, made a series of offers to try and convince the judge to grant bail.
Officials said they have put freeze orders on bank accounts containing Rs 30 crore and shares worth Rs 13.86 crore of the group.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Taking to Twitter, Gandhi posted, "The scamster's escape formula: La(Mo) + Ni(Mo) ---(with) Na(Mo)---> Bha(Go)", while using the hashtag "#ModiRobsIndia".
PNB reported the maximum number of such frauds.
The ED has claimed that Nirav Modi had refused to join the probe despite acknowledging mails and summons issued to him and that he doesn't want to return to India.
India's largest IT-ITeS company, Tata Consultancy Services (TCS), is all set to launch its smart card solution that would enable banks to reach the remote areas and address their need for microfinancing.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
This NFO does not offer anything new and investors would be well advised to monitor its performance for 3 years before investing.
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
Fund managers have favoured stocks in the financial services and automobile spaces, which include IDFC, PNB, Maruti Suzuki and Hero MotoCorp.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
The two diamond traders, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, promoting the agency to move the PMLA court for issuance of NBWs against them.
Choksi said that the ED has attached his properties illegally.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Market experts say that FIIs have been caught off-guard on their exposures to companies with high-leverage and those facing cyclical headwinds.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
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