PMLA court issues a Non-bailable warrant against Mehul Choksi.

Judiciary Jul 06, 2018 Lawstreet News Network 0 Shares

The special court for the Prevention of Money Laundering Act in Mumbai has issued a Non-Bailable Warrant (NBW) against Mehul Choksi on the request of Enforcement Directorate.

Also Read - PNB shares plunge by 7% after reporting Rs 3,688.58 crores DHFL loans as fraud

Five other people have also received a non-bailable warrant, who was accused along with Mehul Choksi in the Rs 13,600 crore Punjab National Bank loan fraud case.

On Wednesday (June 27th, 2018) Mehul Choksi, the promoter of Gitanjali Gems and one of the key accused in the multi-crore Punjab National Bank (PNB) scam case, moved before a special court in Mumbai to seek cancellation of a non-bailable warrant (NBW) issued against him.

Also Read - DHFL Loan of Rs. 3,688 crores in PNB Account declared ‘Fraud’

The issuance of Non-Bailable Warrant (NBW) would now help the agency to take action against Choksi under the Fugitive Economic Offenders Ordinance, 2018.

The next step of the Enforcement Directorate would be to seek Fugitive Economic Offender tag against Mehul Choksi and Nirav Modiunder the new legislation, next week.

PNB shares plunge by 7% after reporting Rs 3,688.58 crores DHFL loans as fraud

Business Jul 10, 2020 Shreedhara Purohit ( Editor: Ekta Joshi ) 16 Shares

The share price of Punjab National Bank slumped nearly 7 percent on Friday ( July 10, 2020) after the bank reported a fraud of Rs 3,688.58 crore in the non-performing asset account of Dewan Housing Finance (DHFL) to the RBI. The stock plunged 6.73 percent to Rs 34.60 on the BSE. On the NSE, it tanked 6.73 percent to Rs 34.60. It pared losses later, trading 5.53 percent lower at Rs 35 per share, at 11:50 am."A fraud of Rs 3,688.58 crore is being reported by Bank to RBI in the...

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DHFL Loan of Rs. 3,688 crores in PNB Account declared ‘Fraud’

Business Jul 10, 2020 Ishita Joshi ( Editor: Ekta Joshi ) 13 Shares

On Thursday, 9th July 2020, State-Owned Punjab National Bank reported a fraud of Rs. 3,688.58 crores in the NPA account of Deewan Housing Finance Ltd (DHFL) to the Reserve Bank of India. The DHFL came in the eye of the storm after a report found that the firm, via layers of shell firms, allegedly siphoned off Rs 31,000 crores out of a total of Rs 97,000 crores bank loans. An exchange filing dated 9th July 2020, said: “A fraud of Rs 3688.58 crores in the NPA account of Deewan Housing...

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