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8 wrz 2021 · In the year 2017, it was found that PNB was involved in a huge scam of around 11,000 Cr Rupees by issuing false bank guarantee in an unethical manner to a business tycoon Mr. Nirav Modi. He is a...
1 sty 2020 · This case study is about understanding major fraud in PNB and will also try to discover the reasons behind a fraud of approximately 114,000 million ₹ in one of its Mumbai
Non-Recording of Liabilities The fraudulent activities at PNB involved a significant non-recording of liabilities. Letters of Credit utilized for overseas borrowing were not documented in the balance sheet, which allowed PNB to disguise its true financial exposure from auditors
31 maj 2021 · PNB revealed that fraudulent transactions by billionaire jeweler Nirav Modi and related entities amounted to $1.77 billion or over Rs 11,400 crore. The key accused in the case were jeweler and designer Nirav Modi, his maternal uncle Mehul Choksi, and other relatives and some PNB employees.
The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹12,000 crore (US$1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount. [1]
Background of Alleged Fraud at PNB On January 29, 2018, PNB, filing a complaint with the Central Bureau of Investigation (CBI) (Federal Investigation Agency of India), alleged that Nirav Modi, Ami Modi, Nishal Modi and Mehul Choksi, all partners of Diamond R US, Solar Exports
22 lut 2018 · PNB says it discovered the fraudulent guarantees — some apparently used to pay off older loans coming due — on January 16, when a representative of Mr Modi’s firm sought a new letter of ...
