Punjab national bank fraud

[Napolean]

Where is award wapasi gang? Apparently they thought it won't work again?

[raniraja]

Originally Posted by sarv_shaktimaan

Already corruption is lesser, how will common people and officials live?

That is highly debatable, if not untrue. Internationally, India has fallen down in the corruption index. Locally, well, ask the locals. They will tell you that there is no change.

[echarcha]

I honestly think many a times that all my efforts for education were a waste. I should have thought of a scam and then just retired on some private island.

This entire series of scams and frauds with the blessings of the then Finance MInister Chidambaram is a cruel mockery of common people.

I know such corruption will continue in some form come what may.

[sgars]

Originally Posted by echarcha

I honestly think many a times that all my efforts for education were a waste. I should have thought of a scam and then just retired on some private island.

This entire series of scams and frauds with the blessings of the then Finance MInister Chidambaram is a cruel mockery of common people.

I know such corruption will continue in some form come what may.

It may still not be too late. I can start a thread in SF for scam ideas

[kkkk]

I thought I had seen some thread about starting an NGO... how far are they from scams in many cases?

[raniraja]

PNB fraud: Mehul Choksi, Nirav Modi rule out early return to India

http://www.livemint.com/Industry/8qE...hul-Choks.html

[Napolean]

Originally Posted by raniraja

PNB fraud: Mehul Choksi, Nirav Modi rule out early return to India

http://www.livemint.com/Industry/8qE...hul-Choks.html

Take a thin bamboo stick, pull down their pants and smack their fatty behinds.

[sgars]

Originally Posted by raniraja

PNB fraud: Mehul Choksi, Nirav Modi rule out early return to India

http://www.livemint.com/Industry/8qE...hul-Choks.html

What else would it be? Anyone expects them to say "We want to be sarkaari Damaads, Jails, here we come."

[raniraja]

News from Surat.

Among the diamonds seized by ED from them, a lot of the inventory belonged to the other traders and was with them for processing/ consignment sale etc. So a lot of diamond traders have their money stuck in there. Also, about 5000 workers are out of job in Surat alone.

[raniraja]

Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi


Gandhi in his tweet about "other law firms" was referring to the searches carried out by the CBI at the Mumbai offices of Cyril Amarchand Mangaldas

IANS | New Delhi Last Updated at March 12, 2018 22:27 IST

Congress President Rahul Gandhi on Monday alleged that Finance Minister Arun Jaitley was silent on the Rs 127 billion PNB fraud case to "protect his lawyer daughter" and asked why her firm was not "raided".

"It's now revealed that our Finance Minister's silence on the PNB (Punjab National Bank) scam was to protect his lawyer daughter, who was paid a large retainer by the accused just a month before the scam became public. When other law firms of the accused have been raided by the CBI (Central Bureau of Investigation), why not hers?" Gandhi said in a tweet.

The Congress President also attached a tweet of the news website "The Wire" reading "You know you're doing something right when the ruling dispensation tries to rebut a story that has not even been published yet".

The Wire said on its site that it was investigating a lead and had sent a questionnaire to the law firm owned by Jaitley's daughter and son-in-law, Jaiyesh Bakhshi.

In his reply, Bakhshi confirmed that the retainership had been received in December 2017 but this was returned in January 2018.

"We state that in December 2017, Chambers of Jaitley & Bakhshi were approached by M/s Geetanjali Gems Limited with a request for a retainer to represent them in their litigation and advisory matters... However, before any legal work could be sent to us, a news item appeared in the media with regard to their involvement in a banking scam. We therefore felt it appropriate to unilaterally cancel their engagement and return their retainer," Bakhshi told The Wire.

The Wire, according to its Founder-Editor M K Venu, did not find the story worth publishing. But, he said a "BJP-leaning website," wrote about this claiming The Wire was planning to do such a story to "ensnare" Jaitley.

Gandhi in his tweet about "other law firms" was referring to the searches carried out by the CBI at the Mumbai offices of Cyril Amarchand Mangaldas -- a leading law firm which was reportedly hired by the key accused Nirav Modi around a month before the scam broke in mid-February.

The CBI examined the documents provided by the firm pertaining to the diamond jeweller Nirav Modi-related mandate, which the company later reportedly terminated after the scam erupted on February 14.

Nirav Modi, along with his uncle Mehul Choksi of the Gitanjali Group, has been accused of defrauding the PNB of Rs 127 billion.

The CBI had filed the first FIR in the scam on February 14 against Nirav Modi, his wife Ami, brother Nishal, Choksi and his firms Diamond R US, Solar Exports and Stellar Diamond.

Modi, his family and Choksi had left the country in early January.

Till date, the Enforcement Directorate (ED) has carried out searches at over 198 locations across the country and seized properties worth nearly Rs 60 billion, while the CBI has arrested at least 19 persons in the case so far.

http://www.business-standard.com/art...1200646_1.html
http://www.business-standard.com/art...1200646_1.html

[kkkk]

kuchh samjha nahi. if they have not even been retained, whats the story?

[raniraja]

Originally Posted by kkkk

kuchh samjha nahi. if they have not even been retained, whats the story?

They were paid in December, but returned the money in January after the scam broke out.

BTW, it seems that the scam is getting bigger. Meanwhile the RBI has stopped issuance of LoU for all the banks. It seems that some private banks refused to honor the LoU issued by PSU banks.

[kkkk]

Originally Posted by raniraja

They were paid in December, but returned the money in January after the scam broke out.

BTW, it seems that the scam is getting bigger. Meanwhile the RBI has stopped issuance of LoU for all the banks. It seems that some private banks refused to honor the LoU issued by PSU banks.

errrmmm still dont understand.... so they realised the goods are tainted and beat a retreat - whats the issue? surely issue would have been, if they had continued? to me it sounds like gitanjali gems tried to get an inside line with the Jaitleys and failed....