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Enforcement Directorate conducted search at a franchise- based store of Gitanjali Gems in West Bengal's Durgapur and the group is probably in the process of winding up its only store in Kolkata.
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According to Section 29 A of the new Insolvency and Bankruptcy Code (IBC) framework, promoters of defaulting companies are barred from bidding for stressed assets.
The SFIO will also look into all the companies belonging to Nirav Modi, wife Ami, brother Nishal Modi and uncle Mehul Choksi.
The Centre has wriggled out from its commitment to come up with a comprehensive Electric Vehicle policy; and it comes as music to the ears of the fossil fuel-guzzling car-makers!
On an average his collection was priced from Rs 5 lakh to Rs 50 crore, and with clientels like Kate Winslet, Deepika Padukone, Liza Hayden among others.
State-owned UCO Bank today said it has exposure of USD 411.82 million (about Rs 2,636 crore) in the Rs 11,400-crore PNB fraud committed by billionaire jeweller Nirav Modi and his associates.
CBI told the court that it suspects the involvement of more PNB officials, and diamond trader Nirav Modi, who is at the centre of the scam, fled the country before the bank could lodge a complaint.
Days after the Rs 11,400 crore fraud at PNB shook the country, private sector City Union Bank today said it suffered three fraudulent remittances of nearly Rs 12.8 crore.
As of March 2017, banks had extended loans and guarantees worth 176.32 billion rupees to companies tied to billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the tax department estimates.
The bank branch, at the centre of one of the biggest financial scams of the country, was searched by the agency, adding that "incriminating documents" related to the case were discovered.
According to the Central Bureau of Investigation, diamond czar Nirav Modi and Mehul Choksi already left the country in January, before an FIR was registered in the Punjab National Bank fraud case.
Finance Minister Arun Jaitley would be leaving Saturday night on a two-day official visit to Saudi Arabia to co-chair the 12th India-Saudi Arabia Joint Commission Meeting on February 18-19.
The only foreign bank affected in Nirav Modi/Mehul Choksi fraud case turns out to be Intesa Sanpaolo SPA whose Hong Kong branch was called upon to provide money to Gitanjali Gems.
Enforcement of the double taxation avoidance agreement and extension of preferential tariff would give a fillip to trade and investment between Iran and India.
Markets spirited attempt reclaim its stature after two weeks of the slump was frustrated by Punjab National Bank fraud shocker as both the BSE Sensex and Nifty managed to close the week flat.
The Enforcement Directorate today said the solitary Gitanjali Gems store here has started winding up since the Rs 11,400-crore Punjab National Bank scam broke out.
Top officials of PNB and the Finance Ministry have been asked to appear before the Central Vigilance Commission on February 19.
Coke also said it planned to use cash it held overseas and savings generated from the US corporate tax rate changes to reduce its debt by USD 7 billion.
China was the single largest lender that gave a total of USD 1.6 billion, which was equal to one-fourth of the total foreign loans Pakistan has received in the last seven months.
The investigating agency arrested Gokulnath Shetty, who was a deputy manager at Punjab National Bank, and Manoj Kharat, who was described by the source as a "single window operator" at the lender.
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