- Tag results for Punjab National Bank
The CBI refuted the argument in a reply filed before special judge JC Jagdale here earlier this week.
The state-run bank has made recoveries worth Rs 16,600 crore from bad loans this fiscal year.
The bank had slipped into losses after a Rs 14,000 crore scam allegedly perpetrated by jewellers Nirav Modi and Mehul Choksi with the connivance of certain bank officials came to light.
Apart from Modi and UBI, the other parties named in the summons are: Firestar Diamond International Pvt Ltd and its six branches in Mumbai, plus one in Surat, Gujarat.
The burglars drilled a hole into the wall of the PNB branch to reach the strongroom and looted the valuables from five lockers.
In his judgment at the High Court's Chancery Division, Chief Master Marsh concluded that the bank had failed to make an 'arguable case in deceit against the defendants'.
According to the manager, the miscreant barged inside the ATM kiosk when he noticed there was no security guard at the kiosk.
The PNB has intimated the action to the stock exchanges on Friday.
The fugitive diamond merchant also claimed to have duly replied to the ED's summons.
Opposition Rashtriya Janata Dal and Congress leaders have targeted Chief Minister Nitish Kumar for the rise in crime and total collapse of law and order.
The bank has to make recovery of Rs 1,779.18 crore from these 24 non-performing assets (NPAs).
In a mail, Nirav Modi told the ED that his "effigy was being burnt and feared mob lynching" if he stepped on Indian soil.
To shore up capital and tide over the core equity crisis, state-run banks (PSB) have actively pursued sale of several non-core assets.
A senior Central Bureau of Investigation (CBI) official told IANS: "The agency has registered the case against Shetty and his wife Ashalata, who is a clerk in Indian Bank in Mumbai on Thursday night."
The saving grace, though, is that SBI’s slippage ratio stood at 2 per cent — the lowest in six quarters.