The bank as an individual claimant and as a representative of a consortium of banks had sought claim to certain properties attached by the Enforcement Directorate (ED) stating that they had suffered losses of over Rs 7,000 crore due to alleged acts of the accused, of obtaining fraudulent Letters of Understanding (LoUs).
Biggest Indian Banking Fraud: The arrest of Nirav Modi by London police in 2019 for his suspected participation in massive financial irregularities connected to the Punjab National Bank (PNB), which involved thousands of crores, marked the beginning of Modis collapse.
Modi Jewlery Goes Under the Hammer idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.
NCLT orders wind up Nakshatra World, a Mehul Choksi companies indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.