Latest news with #PunjabNationalBank
Time of India
11 hours ago
- Time of India
Mehul Choksi sues India in UK high court for ‘kidnapping him' in Antigua
Mehul Choksi LONDON: Fugitive diamond merchant Mehul Choksi is suing the Indian govt and five other people in the London high court for orchestrating what he refers to as his 'kidnapping' from Antigua in 2021 in an alleged honeytrap plot. Choksi has claimed in the preliminary hearing that five people working for R&AW kidnapped him in Antigua and smuggled him on a yacht to Dominica in a plot masterminded by the Indian state in order to extradite him to India to face charges in the Rs 13,500 Punjab National Bank scam. Antigua police named Gurdip Bath, Barbara Jarabik, Gurmit Singh, Gurjit Singh Bhandal and Leslie Farrow-Guy as the five suspects, mostly UK-based, in the kidnapping. They are all being sued by Choksi alongside the Indian govt. They all deny the charges. The court documents were served on the ministry of external affairs by the British high commission in New Delhi. Edward Fitzgerald KC, representing Choksi (66), told Justice Freedman on Monday that Choksi was filing a civil suit against the Indian govt for allegedly ordering Choksi to be kidnapped on May 21, 2021 and smuggled by yacht to Dominica. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo India denies any involvement, argues it is protected by state immunity and that the UK courts do not have jurisdiction for this case. Harish Salve KC, representing India's govt, said: 'There is no evidence of India having anything to do with the alleged events. The claimant's account is rife with non sequiturs and unsupported assumptions. Those accused seem a rather unlikely band of state-sponsored conspirators.' Choksi is currently in jail in Belgium where he is fighting extradition proceedings brought by India. Choksi first met Barbara Jarabik, a Hungarian luxury goods expert, in Antigua in Aug 2020. In May 2021 she is alleged to have asked him to visit the apartment she had rented in Jolly Harbour. A group of men of Indian origin burst into the apartment and told Choksi he was 'being detained to be interrogated by Indian agencies', Fitzgerald told the court, London's Times newspaper reported. Choksi alleges that the men told him they worked for R&AW and beat him up, left him unconscious, and tied him to a wheelchair on the yacht to Dominica to extort a false confession from him and implicate the Congress party. 'The evidence points inevitably to India being behind this — they had the motivation, they had the resources,' Fitzgerald told the court, the Daily Telegraph reported. Choksi denies the charges against him. Thenext hearing is expected in September.
Time of India
15 hours ago
- Business
- Time of India
Court allows release of Nirav Modi and sister's properties worth Rs 66 cr from ED to PNB
A special court has permitted Punjab National Bank (PNB) to release and auction properties worth Rs 66.33 crore belonging to fugitive diamantaire Nirav Modi and his sister Purvi Modi, which were previously attached by the Enforcement Directorate (ED) in connection with the PNB fraud case. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A special court here has allowed the release of properties worth Rs 66.33 crore, owned by fugitive diamantaire Nirav Modi and his sister Purvi Modi and attached by the Enforcement Directorate (ED) in connection with the multi-crore PNB fraud court allowed the application filed by the Punjab National Bank (PNB) seeking to release the properties so that they can be sold or auctioned to recover the dues. The central agency had attached these properties in connection with a money laundering probe against Modi and others in the PNB fraud judge A V Gujarathi, assigned to hear cases pertaining to the Prevention of Money Laundering Act (PMLA), in its order passed on June 17, however directed the bank to furnish an undertaking that the amount (at which the property would be sold) would be recovered if required in the properties include jewellery, coins, watches and cash that were found at Modi's house in Samudra Mahal in Mumbai's Worli area worth Rs 40.83 crore, a flat valued at Rs 19.50 crore in Purvi's name in the metropolis, and other unvalued movable properties recovered from Modi's Worli consortium of Banks, led by the PNB, claimed that they have suffered a cumulative loss of more than Rs 8,526 crore due to the fraud committed by Nirav Modi and his is more than the total value of the properties (approximately Rs 2,324.97 crore), which have been attached by the ED under the provisions of the PMLA, ED said it has no objection if the properties were exempted from attachment, subject to certain recording their submissions, the court noted that Modi still remains absconding and allowed the bank's plea for the release of the and his uncle Mehul Choksi are the prime accused in the Rs 13,500-crore PNB Choksi is fighting for his bail in a Belgium court, Modi has been languishing in a London jail since 2019.
Indian Express
15 hours ago
- Business
- Indian Express
Watches, coins, flat: Properties linked to Nirav Modi worth Rs 60 crore to be restored to PNB
A special court permitted restoration of properties linked to diamond merchant Nirav Modi valued at over Rs 60.33 crore, to the Punjab National Bank (PNB), allowing the bank's plea which said that the consortium of banks led by it has incurred losses of Rs 8526 crore in the alleged fraud. The restored properties include valuables worth Rs 40.83 crore, including jewellery, coins, watches and cash, from the Worli residence of Nirav Modi and a flat worth Rs 19.50 crore in Breach Candy. These properties were attached by the Enforcement Directorate (ED) in 2018-19 under the Prevention of Money Laundering Act, as part of its probe in to the fraud, where Nirav Modi and others are alleged to have connived with bank officials in issuing fraudulent Letters of Undertaking from 2008, causing losses to the banks. The PNB, citing the Prevention of Money Laundering (Restoration of Confiscated Property) Rules, 2016, said that the banks have a legitimate interest in the properties as they have suffered cumulative loss of more than Rs 8526.20 crore due to the fraud. It said that the value of the properties attached by the ED is around Rs 2,324.97 crore. It sought exemption of the two properties, including the valuables seized from the Samudra Mahal flats of Nirav Modi and a flat in Diamond Head building in Breach Candy, which was in the name of his sister, Purvi. The ED gave its no-objection to the plea. Purvi's lawyer, Manavendra Mishra, submitted that she is not the beneficial owner of the flat, and has no objection for the PNB plea to be allowed. Special Judge A V Gujarathi said that the case is pending since 2019 and the proclamation is issued against the diamond merchant and others in 2019, as they are absconding. A plea to declare Nirav Modi a fugitive economic offender is also pending. He is currently in the UK facing extradition proceedings. The court also noted that the ED and Purvi have not objected to the plea. It directed PNB to file an undertaking to return the amount with interest, in case the court deems it fit. Previously too in separate orders, restoration of properties was allowed to the PNB.
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Business Standard
19 hours ago
- Business
- Business Standard
PNB scheme helps 26 martyred soldiers' families with Rs 17 cr assistance
Punjab National Bank (PNB) has provided Rs 17.02 crore to the families of 26 defence and paramilitary personnel who died in the line of duty, said the state-owned lender in a statement. The assistance, as of June 11, 2025, was provided under the bank's Rakshak Plus Scheme. It was given to families of personnel who lost their lives in the line of duty, including during operations like Birli Gali, PTI reported quoting a statement shared by PNB. The bank described the assistance as a reaffirmation of its 'unwavering support' to soldiers. "It is our solemn duty to stand by the families of our martyrs. Through the Rakshak Plus Scheme, PNB offers more than financial assistance; it serves as a symbol of our respect and enduring support for their immense sacrifices," Binay Gupta, PNB's Chief General Manager (BARM), was quoted by PTI as saying. Rakshak Plus Scheme PNB's Rakshak Plus Scheme is a special financial product designed for defence and paramilitary personnel. It offers a broad range of insurance benefits to support soldiers and their families: < Personal accidental insurance of Rs 1 crore in case of death or permanent, total disability < Air accidental coverage of Rs 1.5 crore in case of death during air travel < Partial disability coverage for those injured in the line of duty < Additional tailored benefits for uniformed personnel < Timely help for bereaved families PNB said it is committed to ensuring prompt financial assistance to the families of the deceased. The Rakshak Plus Scheme is aimed at providing peace of mind, knowing that in case of a tragic event, families will not be left without support.
Time of India
a day ago
- Time of India
Gurgaon man loses Rs 54k after con poses as nephew, seeks money transfer
Gurgaon: A city resident lost Rs 54,000 in an online scam after accidentally disclosing his nephew's name during a WhatsApp call. The fraudster, posing as the nephew Golu Sharma, claimed that he was sending Rs 3.3 lakh via NEFT and requested the victim to transfer Rs 2 lakh to another person, citing an emergency. Tired of too many ads? go ad free now The victim transferred Rs 54,000 before becoming suspicious and discovering the fraud after contacting his brother. According to the FIR filed at cyber police station, Manesar, the victim received a WhatsApp call on June 5 from an unknown international number starting with +44. The caller greeted him and addressed him as 'tau' (uncle). When the victim asked for the caller's identity, the latter said he was his foreign-returned son. The victim, making a guess, said, "Who? Golu?" "I took his name and that was my mistake," the victim told police, adding that he assumed that it was his nephew, who works in London and often calls him 'tau'. The scammer confirmed, said he was in an urgent need of money. He claimed that he was transferring Rs 3.3 lakh to the victim via NEFT and asked him to forward Rs 2 lakh to another contact who would call shortly. Soon after, the victim received a call from a different number. The caller said his mother was hospitalised and he needed money urgently. The victim then transferred Rs 50,000 to a Punjab National Bank account, followed by another Rs 4,000 to a Union Bank of India account. Only after both transactions were completed did he grow suspicious and call his brother to confirm if the first caller was Golu. After realising that he was conned, the victim reported the fraud to the cybercrime helpline 1930 and filed a complaint with cyber police station, Manesar. A case was registered under sections 318(4) (cheating) and 319 (impersonation) of BNS.
