Reality of PNB Scam and Nirav Modi by Dhruv Rathee

Reality of PNB Scam and Nirav Modi by Dhruv Rathee

Rahul Gandhi stated that the scam of such intensity could not have taken place without the highest level protection by the authorities.

Taking a dig at Prime Minister Modi, the Congress leader tweeted that La (Mo) [Lalit Modi] added to Ni (Mo) [Nirav Modi], meeting Na (Mo) [Narendra Modi] results in Bha (Go) [run away]. They have acquired it from Advait Holdings and one of the shareholders of it, since 2002, is Anita Singhvi.

She said 29 properties and 105 bank accounts of Mr Modi and his group companies had been seized.

The hotel staff where he is holed up said that Modi, who is generally quite reticent, was seen late in the night.

"Now, install only Nirav Modi as the RBI governor to finish off the country", the Sena signed off. "We immediately alerted the correspondent banks to recall the funds", City Union Bank said in a regulatory filing on stock exchanges.

THE ruling BJP on Saturday blamed the Congress for the "original sin" that led to the alleged Rs 11,500 crore banking fraud by jeweller Nirav Modi and his partner Mehul Choksi.

The CBI on Thursday registered fresh FIRs against 10 directors of the Gitanjali Group of companies on charges of criminal conspiracy and cheating under the Indian Penal Code (IPC) and Prevention of Corruption Act, including Mehul Choksi, the Managing Director of Gitanjali Gems Ltd based in Mumbai's Walkeshwar.

"Is this the kind of "Ease of Doing Business" PM Modi talks about", he asked.

"It can't be possible without getting a green flag from the top". He also accused Finance Minister Arun Jaitley of going into hiding in the wake of PNB fraud. "He has taken money from people's pockets and put it into the banking sector and now his friends and cronies are stealing it from the banking sector and the prime minister is not saying anything", he charged. "His friends and cronies are stealing money and he is silent".

She also said that Congress has a direct link with the scam.

Interestingly, the PNB in a statement on 16 February, claimed it chose to come down heavily on everyone involved in fraudulent activities to "pursue clean banking and reform agenda of the government".

"Last August, the company gave notice to quit tenancy and vacated the Parel Kamla Mills premises in December 2017".

Modi and Choksi have not made any comment so far.

"Nirmala Sitharaman and her colleagues are liable to civil and criminal defamation for making ignorant and patently false allegations". Referring to the PNB fraud which came to light this week, the Sena said it is "clear that Nirav Modi and his family had fled" the country early last month.

Shetty is the co-accused in the case in which high-profile jeweler Nirav Modi is the prime suspect.