Mumbai Police Crime Branch is investigating the whole matter, says Maharashtra Home Minister Anil Deshmukh
Latest News LIVE updates: A suspicious vehicle with gelatin, an explosive material, inside was found parked near industrialist Mukesh Ambani s house in Mumbai on Thursday evening, police said. Earlier in the day, the government announced new rules to curb misuse of social media platforms, as it mandated firms to appoint grievance officer, disclose the first originator of the mischievous information and remove, within 24 hours, content depicting nudity or morphed pictures of women. Nirav Modi, the diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank (PNB) scam case, today lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
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What is Punjab National Bank scam and how Nirav Modi was involved – Explained
Diamond merchant Nirav Modi, the main accused in the Punjab National Bank (PNB) scam, will be brought to India from Britain. A London court on Thursday ruled that Nirav Modi can be extradited to India to face charges of fraud and money laundering.
What is PNB scam
PNB is India s second-biggest state-run lender. The scam stunned the financial sector of the country after a fraud worth Rs 11, 400 crore was unearthed at a single branch in Mumbai.
The bank discovered that at least 2 of its employees - deputy manager Gokulnath Shetty and clerk Manoj Kharat - from its Brady House branch in Mumbai repeatedly issued Letters of Undertaking (LoU) to Nirav Modi s companies without following the processes. According to the bank, the employees issued the LoUs without securing cash reserve or collateral and without recording the transactions in the bank s core banking software.
The UK court hearing Nirav Modi s case of extradition to India in the PNB scam case has said the fugitive businessman needs to answer questions in India.
Expressing confidence in forming a NDA government in the Union Territory after the Assembly polls, the Prime Minister said, “Such a government will be people’s government and the high command will be people. I want to see the UT the BEST (business, education, spiritual, and tourism hub).”
A Bench of Justices L Nageswara Rao and Indira Banerjee made the observation while upholding an order of Jharkhand High Court which allowed appointment of 43 persons for post of Police Sub-Inspectors on the basis of their merit after authorities prepared a revised select list correcting the irregularities.
The lives of people lost due to wildlife-human conflicts are not adequately compensated in India, according to a new study which says changing the approach to this estimate can improve conservation efforts, and help understand which species to prioritise at conflict-prone zones.
Nirav Modi extradition verdict: Too early to celebrate, say legal experts
Modi will exhaust all the legal remedies, including appealing in higher courts as well as seeking asylum in the UK, before Indian authorities would be able to bring him back.
Dipak Mondal | February 25, 2021 | Updated 21:17 IST
Modi is in London s Wandsworth Prison since his arrest in March 2019.
The Westminster Magistrates Court in London ruled in favour of Indian government on Thursday and paved the way for extradition of fugitive diamond retailer Nirav Modi, who is wanted by Indian law enforcement agencies in PNB loan fraud case.
However, today s judgment by the UK extradition court is just the first successful step towards a long-drawn process. While it is an important victory for India and its law enforcement agencies, it is too early to celebrate, legal experts believe.