Mumbai sources reported that the Central Bureau of Investigation detained Vipul Chitalia, the vice president of Gitanjali Group of Companies, as a part of its probe into the multi crore Punjab National Bank (PNB) fraud. Meanwhile an official said Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
Meanwhile the Rs 12,636 crore fraud was allegedly perpetrated by billionaire jeweler Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems. Further it is alleged that Choksi and Nirav Modi got Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs) of Rs 12,636 crore issued in favor of foreign branches of Indian banks based on fraudulent claims.
Moreover according to sources the accused officials
of PNB did not enter the instructions for these LoUs and in their internal
software to avoid scrutiny. They were sent through an international messaging
system for banking called SWIFT, which is used to pass instructions among banks
globally to transfer funds. Furthermore in case of default, the bank
issuing the LoU has to pay the liability to the credit giving bank along with
PM Narendra Modi catapults more projects in Varanasi Lucknow sources stated that Launching development projects worth Rs 550 crore, Prime Minister Narendra Modi said Varanasi is being developed as the “Gateway to East India” and presented a report card to voters of his Lok Sabha constituency, claiming that before his election the holy city was at the mercy of the Lord under previous governments.
- Hong Kong based airline painted out error in Company's Name
- Big win for Women Rights activists in Muslim Community in india
- EC yet to come out with poll schedule for Telangana
- UP Govt Doctors to stage protest on October 1
- Is Kapu community is moving away from YCP?
- Another brutal murder in Andhra - SHOCKING BRUTAL VIDEO Inside
- Stalin demands resignation of Thangamani!
- Will Congress give Special Status to AP?
- PMK ropes in an actor!
- You will be shocked to know Modi's asset value - No Cars or Houses!
- Apollo's shocker on CCTV!
- Pandya injured - Damage for India?
- Hima Das name nominated for Arjuna Award
- Korean Presidents signs agreement to Ease Tension
- Ambati questioned Chandrababu's motive behind involving in affairs of TRS party