Rs.11,300 Cr fraud in PNB(Mumbai Br.) by Nirav Modi

Diamond merchant Nirav Modi is involved in a big fraud of Rs.11,360 Cr. in Punjab National Bank's Mumbai Branch.It was revealed in news on Feb'14 afternoon by Bank authorities. Sunil Mehta,Managing Director of PNB commented,"we will certainly recover full amount of fraud & take strict action against our staff who are involved in it".Fraud started in 2011,came to light on Jan',2018 end.Searches & sealing operations are going on at 9 of Nirav Modi's showrooms etc in Mumbai & Delhi.

Ref. : https://navbharattimes.indiatimes.com/business/business-news/pnb-will-do-whatever-to-do-for-punish-the-accused-of-11300-crore-of-fraud-says-md-sunil-mehta/articleshow/62929678.cms

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Form ODI Section 11

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Rs.11,300 Cr fraud in PNB(Mumbai Br.) by Nirav Modi

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Rs.11,300 Cr fraud in PNB(Mumbai Br.) by Nirav Modi