Similarly, a commercial property owned by the accused at Chandni Chowk in Delhi was valued by Tech Mach at the time of disbursal of the loans at Rs 4.95 crore, but it was actually worth Rs 31 lakh only.
To recall, PNB which is the second-biggest state-run lender shook India's financial sector when it announced that it had discovered fraudulent transactions worth $1.77 billion (Rs 11,400-crore) at a single branch in Mumbai.
The bank decision to transfer these officials came soon after Rs 11,300 crore fraud was detected in its Brady House branch, in which bank officials were also involved.
On Friday, the ED said it had frozen Nirav Modi's bank account and shares worth Rs 43 crore.
To recall, the Income Tax (IT) Department on Thursday attached the special economic zone (SEZ) property of Mehul Choksi's Gitanjali Group in Hyderabad.
"But, now, with false allegations levelled against me of defrauding the PNB Bank and media frenzy, the situation has gone grave, which is turning graver by day", he added. "This was done on January 26, 2018, after Nirav and Choksi had fled the country along with their families", he said. But two days back Modi wrote to ED that he can not come back to India as he was dealing with the fallout of multi-agency probe launched against him.
Last week, in a regulatory filing, Allahabad Bank had said it has an exposure of almost Dollars 366.87 million in the form LoUs issued by PNB. "At no stage, such facilities were extended by our bank to your three partner firms".
"Your commitment and undertaking for sparing of the total liability was not backed by providing upfront amounts and timelines".
It urged Modi to respond with a "concrete and implementable" repayment plan on outstanding dues.
The letter, accessed by ET through his lawyer Sanjay Abbot, says the HR was being instructed to issue relieving letters and experience certificates to employees.
PNB also denied reports that it has roped in audit firm PricewaterhouseCoopers (PwC) to investigate the alleged fraud by Modi and gather evidence against him and his associates.
Stock exchanges had sought clarification on Modi's comment that "PNB has closed all options to recover dues by going public".
But, after Kenedy had fired over with a pair of long-range efforts, Newcastle took the lead with a well-worked move. Newcastle United controlled the match into the second half, but Bournemouth showcased more danger in this half.
Jerome police announced Friday a threat toward a Jerome High School student was false and "no actual, serious threat was present". An entire school district and a high school in central OH along with three Toledo schools are closed because of threats.
Without going into details of the transaction, he said each public radio station had some "skin in the game". The staffs of DNAinfo and Gothamist are members of the WGA, while WNYC's employees are part of SAG-AFTRA.
Iran has dismissed the USA calls for halting its missile programme development, saying it is only for deterrent purposes. The JCPOA was struck between Iran and Britain, China, France, Germany, Russia and the USA , then led by Barack Obama.
That fundamental misunderstanding seems to hint at the fact that Snap doesn't know its users as well as it thinks it does. He promised that it would come with a more user-friendly design, but since rolling it out, users are less than enthused.
What is the controversy behind antidepressants? Some had small impacts, while others were moderate, depending on the drug. This is where this new study steps in, attempting to draw conclusions about the overall efficiency of antidepressants .
Due to an equipment malfunction in one of our data centers, many of BB&T's banking services remain unavailable this morning. The bank said it would reimburse customers for any fees they are assessed related to the outage, as well as waive its fees.
Among 42 analysts covering Visa Inc. (NASDAQ: WMT ), 9 rate it "Buy", 7 "Outperform", 17 "Underperform", 0 "Sell", while 0 "Hold". Chilton Management Ltd Liability Company has invested 0.21% in 3M Company (NYSE:MMM). (NYSE: WMT ) for 4,995 shares.
Baltimore's additions of Jefferson and Carr cancelled out the departures of Rick Wagner and Kyle Juszczyk. The Minnesota Vikings were the only other team to receive multiple picks, with both coming in Round 6.
In curling-speak, Koe put it like this: "For sure, if my first one doesn't rub and we get by, we're probably getting two". She shot the puck into Rooney's pad, and it skittered toward the crease, inching toward the goal line.
7.5 magnitude quake strikes Papua New Guinea
The Pacific Tsunami Warning Center in Hawaii said there was no risk of a tsunami in the aftermath of the quake. The US Geological Survey said the quake hit about 90 kilometres southwest of Porgera on Monday morning.
Ex-NFLer Jonathan Martin is in Custody
Ghassemkhani added that the hold will likely only delay an arrest if Martin is charged with making criminal threats. It is not known if the gun was real or immediately clear whether Martin posted the photo himself.
McLaren launch the MCL33
McLaren has paid tribute to its history with the design of it's new McLaren MCL33 for this year's Formula 1 World Championship. McLaren has returned to a "papaya" orange livery for its 2018 Formula One vehicle , the MCL33.
United Nations delays vote on Syria humanitarian cease-fire
Doctors Without Borders said 13 of the facilities it supports in Eastern Ghouta were damaged or destroyed in airstrikes this week. On the USA role in Syria, he said, "We're there for one reason: We're there to get (IS) and get rid of (IS) and go home".
Larry Nance Jr. to wear father's No. 22 for Cavaliers
Larry Nance Jr . joined the Cavs in a blockbuster deal that sent Isaiah Thomas and Channing Frye to the Lakers earlier this month. I've been wearing 22 for my whole life, and to get to wear it for the Cleveland Cavaliers is beyond a dream come true".