User: subbu Topic: Land Issues
Category: SEZs by State :: Punjab
Last updated: May 13 2018 14:56 IST RSS 2.0
 
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Diamond biz in India will continue to grow this year: De Beers 13.5.2018 General News
De Beers, the world's largest diamond producer, has said the business in the country will continue to grow this year despite dampened sentiments following Nirav Modi-led PNB fraud. "There has been this banking scandal, that is clearly a fraud, and had certainly dampened sentiments little bit.... But having said that, I think consumer demand in India, as we have Forevermark brand, is doing very well. "It's been an unfortunate incident but the demand in India this year would be reversed, would be good and the business in India will continue to grow in 2018," De Beers Group CEO Bruce Cleaver told PTI here. Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam of Rs 13,000 crore at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking (LoUs). The Centre has also intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of PNB. Meanwhile, Cleaver .
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Odisha govt scraps gems and jewellery park by Gitanjali group 27.4.2018 General News
The Odisha government has scrapped the Rs 636-crore gems, jewellery, lifestyle and luxury goods park which was to be set up by Gitanjali Infratech Ltd, an official said today. The development comes in the wake of the multi-crore PNB scam and there is no one from the company, owned by Mehul Choksi-run Gitanjali Group, with whom the state government can interact, he said. Diamond merchants Nirav Modi and his uncle Mehul Choksi have been accused of perpetrating the country's biggest banking sector scam of around Rs 13,000 crore at Punjab National Bank. The state government in November last year accorded final approval to the detailed project reports of Gitanjali Infratech Ltd for setting up the park at Ramdaspur in Cuttack district, he said. A piece of land which had earlier been allotted to the Gitanjali Gems, for setting up a jewellery manufacturing unit also stands cancelled, he said. "The company seems to be in trouble and there is no one with whom we can speak to. Under the ...
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PNB scam: Govt intervenes in Nirav Modi firms' bankruptcy case in US 22.4.2018 General News
The government has intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of Punjab National Bank, Union minister P P Chaudhary said, amid multi-pronged efforts to deal with the nearly Rs 13,000 crore scam. Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking (LoUs). Against the backdrop of multi-agency probe into the case, Chaudhary said that some Nirav Modi firms filing for bankruptcy in the US would jeopardise the interests of Punjab National Bank. The Minister of State for Corporate Affairs noted that committing of fraud and violation of Indian laws by these firms necessitates booking of the accused in India. "Since the investigation against Nirav Modi led firms ie. Firestar Diamond and other firms is still going on in India for committing fraud against the Punjab National Bank,
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DRI opposed Nirav Modi’s plea for easy travel to U.S. 21.3.2018 Hindu: National
He illegally diverted imported diamonds into local market
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PNB-Nirav Modi scam: Diamond traders move business to organised players 17.3.2018 Business Standard: News Now
Larger players are also slipping into the role vacated by banks, by offering credit to smaller traders
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PNB fraud: Vipul Ambani, others sent to 14-day judicial custody 5.3.2018 Zee News : India National
 Vipul Ambani, president (Finance) of Nirav Modi's Fire Star Diamond and five others accused in the PNB scam were sent to judicial custody till March 19.
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CBI arrests 4 more people 5.3.2018 Central Chronicle » Business
PNB Scam case Agencies, Mumbai The Central Bureau of Investigation (CBI) on Sunday arrested four... more »
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PNB scam: DRI sanctions prosecution of Nirav Modi's firms 5.3.2018 Sify Finance
[India], Mar. 04 (ANI): The Directorate of Revenue Intelligence (DRI) on Sunday sanctioned the prosecution of jeweller Nirav Modi and his three firms in connection with billion dollar Punjab
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PNB fraud: DRI sanctions prosecution of Nirav Modi`s firms under Customs Act, may face upto 7 years in jail 5.3.2018 Zee News : India National
The DRI on Sunday said that Nirav Modi's firms are fit to be tried under Customs Act in connection with the PNB fraud.
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So how much has ED seized from Modi and Choksi? 1.3.2018 Rediff: Business
A quick computation puts the following value to the seizures.
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ED attaches Mehul Choksi's assets of Rs. 1217 cr 1.3.2018 General News
The Enforcement Directorate (ED) on Thursday attached 41 properties worth Rs 1217.20 crore of PNB scamster and owner of Gitanjali Gems Mehul Choksi.The attached properties include 15 flats, 17 office premises in Mumbai and M/s Hyderabad Gems SEZ in Andhra Pradesh.It also includes a shopping mall in Kolkata, farm house in Alibaug and 231 acres land in Maharashtra and Tamil Nadu.Earlier, Central Bureau of Investigation (CBI) had said that the Punjab National Bank (PNB) reported scam of Rs. 1251 crore by Gitanjali Gems.In a statement, the CBI had said, "The PNB has informed us that further scam of Rs 1,251 crore has been detected in respect to Gitanjali Gems. The CBI is now probing Rs. 12,636 crore in the PNB scam, up from Rs 11,421 crore."Celebrity jeweller Nirav Modi and his uncle Mehul choksi are being investigated by the Enforcement Directorate and other investigative agencies ever since the PNB scam came to light.
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PNB fraud: ED attaches Mehul Choksi's 15 flats and 17 offices in Mumbai, other properties worth Rs 1,200 cr 1.3.2018 Latest News India on Firstpost
The I-T Department had earlier attached four more properties of the Nirav Modi group which included his farm house in Alibaug worth Rs 13 crore.
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PNB fraud: ED attaches Rs 12-bn assets of Mehul Choksi; 10 developments 1.3.2018 Top Stories
The development comes a day after a Blue Corner notice was issued against the Gitanjali promoter and Nirav Modi
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PNB case: ED attaches Choksi's properties worth Rs 1200 crore 1.3.2018 Sify Finance
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PNB case: ED attaches Choksi's properties worth Rs 1,200 cr 1.3.2018 All News-IANS Stories
The Enforcement Directorate on Thursday attached 41 properties of Mehul Choksi of the Gitanjali Group, worth Rs 1,217 crore, in connection with an ongoing probe into the Rs 12,600 crore Punjab National Bank fraud case.
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News digest: PNB scam, contract jobs, salary hike, GST collection, and more 28.2.2018 Latest News
Those expecting double-digit salary hikes in their annual appraisals are likely to be disappointed as Aon
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CAG flagged the rough edges of the jewellery sector 24.2.2018 Hindu: National
Senior auditors say they raised a red flag after the 2016 audit of the industry exposed serious discrepancies in the records maintained and in re-exports
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PNB fraud: Justice I deserve is far off, says Mehul Choksi to jobless staff 24.2.2018 Business Standard: News Now
Mehul Choksi wrote to 3,500 employees, saying it would be 'very tough' to clear dues of his employees or pay future salaries
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ED provisionally attaches 21 immovable properties of Nirav Modi 24.2.2018 General News
The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in connection with the 1.77 billion dollar Punjab National Bank (PNB) fraud.As per an official release, the properties, attached as per the provisions of the Prevention of Money Laundering Act, 2002, possess a total market value of Rs.523.72 crore.The said properties include a farm house in Alibaug, a solar power plant, 135 acres of land in Ahmednagar, along with residential and office properties in Mumbai and Pune.For the unversed, PNB detected a 1.77 billion dollar (Rs 11,400) scam earlier this month, in which noted jewellery designer Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.Choksi, Modi's uncle, is also being probed for his involvement in the fraud.PNB thereafter lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore ...
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ED provisionally attaches 21 immovable properties of Nirav Modi 24.2.2018 Sify Finance
[India], Feb 24 (ANI): The Enforcement Directorate (ED) on Saturday provisionally attached 21 immovable properties of noted jewellery designer Nirav Modi and companies controlled by him, in
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