Thursday, February 22, 2018
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FLASH
  • CBI registers case against members of a WhatsApp group for allegedly uploading and circulating of child pornography videos: Officials
Come up with concrete, implementable plan to repay dues: PNB to Nirav ModiThe Rs 11,400 crore fraud perpetuated by Nirav Modi is being investigated by various investigative agencies. Reuters file

Come up with concrete, implementable plan to repay dues: PNB to Nirav Modi

22 Feb 2018 | 6:11 PM

NEW DELHI: The scam-hit Punjab National Bank on Thursday asked billionaire diamond jeweller Nirav Modi to come up with a concrete and implementable plan to settle the loss caused to it by fraudulent issuance of Letter of Undertakings (LoUs) through one of its branches.

[ + read story ]

New Delhi, February 22

Scam-hit Punjab National Bank (PNB) on Thursday asked billionaire diamond jeweller Nirav Modi to come up with a concrete and implementable plan to settle the loss caused to it by fraudulent issuance of Letter of Undertakings (LoU) through one of its branches.

PNB said this in its response to a mail written by Nirav Modi, who allegedly cheated the bank of Rs 11,400 crore in connivance with a few bank officials.

“You were getting LoUs issued illegally and in an unauthorised way through few bank officials. At no stage such facilities were extended by our bank to your three partner firms,” sources said, citing mail response sent by PNB General Manager (international banking division) Ashwini Vats to Nirav Modi.

When the illegal activities of Nirav Modi surfaced, the bank brought them to the notice of the law enforcement agencies as they apparently violated FEMA and anti-money laundering law, sources said.

“Your commitment and undertaking for sparing of the total liability was not backed by providing upfront amounts and timelines. However, should you have any concrete and implementable plan, do revert back,” the mail said.

Nirav Modi in his letter to the bank had said that the over-zealousness on the part of the bank to deal with the issue destroyed his jewellery brand and also jeopardised his ability to clear the dues.

“The erroneously cited liability resulted in a media frenzy which led to immediate search and seizure of operations, and which in turn resulted in Firestar International and Firestar Diamond International effectively ceasing to be going-concerns... This thereby jeopardised our ability to discharge the dues of the group to the banks.

“In the anxiety to recover your dues immediately, despite my offer (on February 13, a day before the public announcement, and on 15, your actions have destroyed my brand and the business and have now restricted your ability to recover all the dues leaving a trail of unpaid debts,” Modi said in its letter to the bank.

The Rs 11,400 crore fraud perpetuated by Modi is being investigated by various investigative agencies, including the Enforcement Directorate and the CBI. PTI

Jaspal Atwal no longer on MHA blacklist

Jaspal Atwal no longer on MHA blacklist

22 Feb 2018 | 6:11 PM

NEW DELHI: Jaspal Atwal, a convicted Khalistani terrorist, whose invitation to a dinner in honour of visiting Canadian Prime Minister Justin Trudeau was rescinded following a controversy, no longer figures on the Home Ministry’s blacklist of Sikh extremists, officials said.

Canadian commission cancels dinner invite to Khalistan terrorist

Canadian commission cancels dinner invite to Khalistan terrorist

22 Feb 2018 | 5:00 PM

NEW DELHI: Canadian High Commissioner Nadir Patel has cancelled Thursday’s dinner invitation to Jaspal Atwal, a convicted Khalistani terrorist. Patel was hosting the dinner for Justin Trudeau.

Canadian PM, politicians must not attend events glorifying militants: Ujjal

Canadian PM, politicians must not attend events glorifying militants: Ujjal

22 Feb 2018 | 6:11 PM

TORONTO: Former Canadian health minister Ujjal Dosanjh has said that politicians in Canada have failed to appreciate India’s deep sensitivities about Khalistani activities.

Punjabi Sikh’s turban ripped outside  parliament in United Kingdom

Punjabi Sikh’s turban ripped outside parliament in United Kingdom

22 Feb 2018 | 12:18 PM

LONDON: A Punjabi Sikh man’s turban was ripped by a white man in an apparent racist attack outside the United kingdom (UK) parliament, according to a media report.

AAP minister detained for protest against Chief Secretary

AAP minister detained for protest against Chief Secretary

22 Feb 2018 | 6:12 PM

NEW DELHI: AAP minister Rajendra Pal Gautam was detained as he was moving towards Union Home Minister Rajnath Singh’s residence to hold a protest.

ED seizes Rs 94 crore assets, luxury cars of Nirav Modi, Choksi

ED seizes Rs 94 crore assets, luxury cars of Nirav Modi, Choksi

22 Feb 2018 | 6:07 PM

MUMBAI/NEW DELHI: The Enforcement Directorate on Thursday said it had frozen mutual funds and shares worth Rs 94.52 crore of the Nirav Modi and Mehul Choksi groups.

SC asks if Kerala HC was justified in annulling Hadiya’s marriage

SC asks if Kerala HC was justified in annulling Hadiya’s marriage

22 Feb 2018 | 6:12 PM

NEW DELHI: The Supreme Court on Thursday asked if a roving inquiry could be ordered into the “issue of consent” between two adults who married at will.

Army commando injured in gunfight with militants in J&K

Army commando injured in gunfight with militants in J&K

22 Feb 2018 | 6:12 PM

SRINAGAR: An Army commando was on Thursday injured in a gunfight with militants, who managed to escape, in Bandipora district of Jammu and Kashmir, sources said.

China downplays report of upgrading air defences along India border

China downplays report of upgrading air defences along India border

22 Feb 2018 | 6:12 PM

BEIJING: China downplayed an official media report that its military is upgrading air defence along the Indian border saying both countries should work to uphold peace.

India among 'worst offenders' in corruption in Asia Pacific region

India among 'worst offenders' in corruption in Asia Pacific region

22 Feb 2018 | 6:12 PM

NEW DELHI: India has been ranked 81st in the global corruption perception index for 2017, released by Transparency International. The index ranks 180 countries.


Not done

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Can Sharif hold his own?

Can Sharif hold his own?

G Parthasarathy

Pakistan army trying every trick to see him go

Recognise and regulate the holy cow

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The elephant in the room is a simple question: what is a holy cow? An honest answer can end cow vigilantism and also allow beef import and cow slaughter for consumption.

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CITY FOCUS

Bizman kidnapped in his Merc for ransom

Bizman kidnapped in his Merc for ransom

22 Feb 2018 | 2:34 AM

CHANDIGARH: Three miscreants kidnapped a businessman in his Mercedes SUV at gunpoint from Sector 9 and released him near Elante Mall after taking a ransom of Rs 3 lakh and fled with his SUV late tonight.

NoPM Trudeau and Capt Amarinder shake hands in Amritsar.

Do not support separatists, Canadian PM assures Capt

22 Feb 2018 | 11:50 AM

AMRITSAR:Canadian Prime Minister Justin Trudeau today said his country did not support any separatist movement in India or elsewhere, even as Punjab Chief Minister Capt Amarinder Singh handed over a list of nine Canada-based operatives allegedly promoting radicalism.

No

Over 45,000 jobs on offer under ‘Ghar Ghar Rozgar’ scheme

22 Feb 2018 | 5:20 PM

CHANDIGARH: The Punjab Government said on Thursday that over 45,000 jobs will be offered during the second phase of the ‘Ghar Ghar Rozgar’ scheme.

No

Trudeaus perform ‘sewa’ at Golden Temple

22 Feb 2018 | 1:16 AM

AMRITSAR: Clad in a white kurta-pyjama and head covered with a saffron-coloured cloth, Canadian Prime Minister Justin Trudeau today offered prayers at the Golden Temple.

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Curious case of Vipassana Insan

Curious case of Vipassana Insan

22 Feb 2018 | 1:06 AM

CHANDIGARH: The case of Dera Sacha Sauda chairperson Vipassana Insan is a curious one for the Haryana Police. She is “hiding” for the police force of one district, but available for questioning for the police of other district.

‘Bias’ during PM’s speech: School staff transferred

22 Feb 2018 | 1:18 AM

KULLU: Education Secretary Arun Sharma said all teaching staff of high school in Chesta village had been transferred after alleged discrimination with students of a particular category during PM Narendra Modi’s ‘Pariksha Par Charcha’ speech on February 16.

Pakistan troops violate ceasefire in J&K’s Uri sector

Pakistan troops violate ceasefire in J&K’s Uri sector

22 Feb 2018 | 12:58 PM

URI: The Pakistan Army on Thursday restored to unprovoked and indiscriminate firing in Jammu and Kashmir’s Charunda Uri sector. A search operation is under way.

Most MLAs sitting on development funds

Most MLAs sitting on development funds

22 Feb 2018 | 12:47 AM

DEHRADUN: The newly-elected MLAs have spent just 12 per cent of the funds released under the MLA Local Area Development fund (MLALAD) for the financial year 2017-18, which will end on March 31.

Efforts being made to ‘oust’ him from politics for life, alleges Nawaz Sharif

Efforts being made to ‘oust’ him from politics for life, alleges Nawaz Sharif

22 Feb 2018 | 5:59 PM

ISLAMABAD: Pakistan’s deposed premier Nawaz Sharif on Thursday alleged that efforts were being made to “oust” him from politics for life, a day after he was disqualified by the Supreme Court from leading his party.

Enough assets to meet any liability, says scam-hit PNB

Enough assets to meet any liability, says scam-hit PNB

22 Feb 2018 | 5:36 PM

MUMBAI: The state-owned PNB on Thursday said it has followed lawful avenues to recover its dues following Rs 11,400 crore swindling of funds allegedly by jewellery designer Nirav Modi and associates. The country’s second-largest public sector lender also reaffirmed that it has enough assets to meet any liability.

Russian curler stripped of Olympic medal for doping

22 Feb 2018 | 3:05 PM

PYEONGCHANG: Russian curler Alexander Krushelnitsky was stripped of his Pyeongchang Winter Olympics bronze medal on Thursday after admitting doping, the Court of Arbitration for Sport said.

No

Pujara’s IPL loss is India’s gain

22 Feb 2018 | 2:00 AM

NEW DELHI:Cheteshwar Pujara, the foremost Test batting specialist among the current generation of Indian players, will be starting his “homework“ for India’s tour of England in April even as the rest of his teammates will crisscross the country playing the cash-rich IPL.

No

Australia win tri-series, rise to the top in T20Is

22 Feb 2018 | 2:00 AM

AUCKLAND: Australia cruised to a 19-run victory in a rain-affected T20 tri-series final with New Zealand today to claim the world No. 1 ranking in the shortest form of the game for the first time.

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Remedy worse than disease

Remedy worse than disease

19 Feb 2018 | 12:53 AM

The healing code

19 Feb 2018 | 12:53 AM

No longer in the shadows

12 Feb 2018 | 1:18 AM
THE THREE ONE-DAY SERIESNORTHEAST POLLS: Meghalaya, Nagaland & Tripura

THE THREE ONE-DAY SERIES

12 Feb 2018 | 1:18 AM
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