Live Breaking News & Updates on Nirav Modi Mehul Choksi
Stay updated with breaking news from Nirav modi mehul choksi. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Banks have traditionally issued LOCs to target fraudulent borrowers and willful defaulters suspected of fleeing abroad to obtain residency or citizenship in another country. ....
Banks primarily issued LOCs to fraudulent borrowers and wilful defaulters - who they suspected could run off to take the residency or even citizenship of another country. However, last month, the Bombay High Court struck down the powers of chairmen, managing directors and CEOs of all public sector banks to issue LOCs on the grounds that the right to travel abroad cannot be taken away by an executive action and the powers given to bank chiefs is arbitrary and unreasonable. ....
The initiative to trace UBOs in the jewellery trade is being led by the main industry body Gem & Jewellery Export Promotion Council (GJEPC), which had introduced the MYKYC regime in 2019 in the wake of the Nirav Modi-Mehul Choksi scam, making it mandatory for members to reveal UBOs of companies and IDs and personal details of proprietors of domestic firms. ....
Industry Leaders Take Action: Jewellery Trade Aims To Curb Illegal Fund Flows outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
The initiative to trace UBOs in the jewellery trade is being led by the main industry body Gem & Jewellery Export Promotion Council (GJEPC), which had introduced the MYKYC regime in 2019 in the wake of the Nirav Modi-Mehul Choksi scam, making it mandatory for members to reveal UBOs of companies and IDs and personal details of proprietors of domestic firms. ....