INDIA
The central agency has taken into custody Gokulnath Shetty, then deputy manager (now retired) of Punjab National Bank; Manoj Kharat, a single window operator of PNB, and Hemant Bhat, authorised signatory of Nirav Modi, a billionaire diamond merchant.
The Nirav Modi episode is a serious crime and can harm the economy of the country, observed a special CBI court in Mumbai as it remanded three accused in the PNB scam in police custody for two weeks.
The remand order against the accused was issued by Additional Sessions Judge SR Tamboli after the Central Bureau of Investigation on Saturday arrested the three in connection with the massive scam that has raised fears of a ripple effect in the banking sector as well as the government.
The central agency has taken into custody Gokulnath Shetty, then deputy manager (now retired) of Punjab National Bank; Manoj Kharat, a single window operator of PNB, and Hemant Bhat, authorised signatory of Nirav Modi, a billionaire diamond merchant.
"The offence is serious in nature. The remand report [of CBI] shows the fraud amount as Rs 280 crore and it can rise up to Rs 6,000 core. This can harm the economy of the country and hence the investigating officer should get a fair chance," said the Judge Tamboli siding with the CBI's argument for custody till March 3.
The CBI told the court that the beneficiaries of fraud (mentioned initially in its FIR) are Nirav Modi, his wife Ami, Neeshal Modi, Mehul Choksi. The CBI on Friday registered a second FIR against Choksi and his companies Gitanjali Gems, Nakshatra Brands and Gili in connection with fake LoUs worth over Rs 4,886 crore.
Earlier, Senior Public Prosecutor Om Prakash told the court that the accused had cheated the country's second-largest public sector by lender issuing the unauthorised Letters of Undertaking. "The agency is required the maximum 14 days' police custody for recovering the documents and to understand the modus operandi."
Om Prakash told the court that it was Bhatt who had requested PNB's Brady House branch in Mumbai to issue LoUs on behalf of Modi and that he is aware of the "transactions as well as the names of other bank officials" involved in the malpractice.
The lawyers representing the accused sought judicial custody of their clients. Shetty's lawyer contended that the 61-year-old was now retired and it was not possible for him to have any bank documents with him. "Shetty is not an ultimate beneficiary, the beneficiary has already left the country."
Gautam Adani's next BIG step: Adani Power stops Bangladesh’s power supply due to...
Indian troops start patrolling Demchok sector in eastern Ladakh following India-China disengagement
Amy Jackson announces first pregnancy with husband Ed Westwick, flaunts baby bump in adorable pics
In THIS Indian village, families live with cobras, the reason is...
Hardik Pandya flaunts his special 'World Champion' ring after being retained by MI, video goes viral
Happy Govardhan Puja 2024: Top 50 WhatsApp wishes, messages, quotes for loved ones
A huge star-cast is fine but does this compromise the soul of Singham Again?
Shah Rukh Khan's heartfelt gesture towards jewellery store staff wins internet, watch
DNA TV Show: Public calls out celebrities’ hypocrisy on Diwali pollution
Fashion designer Rohit Bal dies at 63: Last year, he was on ventilator for heart ailments
BCCI scraps India's intra squad warm-up game ahead of Border-Gavaskar Trophy, reason revealed
Legendary fashion designer Rohit Bal dies at 63 after prolonged illness
Another terrorist attack in J-K, militants shoot two non-locals in Budgam
Meet Anish Sarkar, world's youngest FIDE-rated chess player at 3 years
Bigg Boss 18: These two wild cards to enter Salman Khan's show, get into heated argument on stage
Fact check: Did Abhishek Bahchan tie knot with Nimrat Kaur amid divorce rumours with Aishwarya Rai?
Govardhan Puja 2024: History, significance, Puja timings; why it is celebrated after Diwali?
Aishwarya Rai Bachchan Birthday: Kajol pens heartfelt wishes for actress, calls her…
Dhirubhai Ambani played matchmaker for Mukesh Ambani and Nita Ambani, he did...
Amid Diwali festivities, UPI sets new record in October with transactions over…
PM Modi's BIG attack on Congress: 'Making unreal promises is easy but...'
Singham Again box office collection day 1: Ajay Devgn film beats Kartik Aaryan-starrer, earns Rs...
'Always fun to...': Google CEO Sundar Pichai shares why Diwali is his 'favourite time of the year'
Why Rishabh Pant and Delhi Capitals parted ways ahead of IPL 2025 auction? Report makes huge claim
'Bhool Bhulaiyaa 3', 'Singham Again' banned in Saudi Arabia; know why
Delhi Government announces public holiday for THIS festival, find details here
Despite festive season, Rs 7.90 lakh cars lying unsold, it is worth...; here's the reason
'CSK Ne Chaal Chal Di': Ex-India star takes humourous dig at franchise’s decision on MS Dhoni
IPL 2025: 23-year-old Agra cricketer gets staggering salary increase of 6900 per cent, to earn.....
Nita Ambani turns 60: Know Mukesh Ambani's wife's lavish lifestyle, income, houses and more
NASA shares Diwali wishes with a cosmic twist, reveals Hubble image of...
What is an onion bomb? One killed, six injured in firecracker explosion in Andhra Pradesh
Meet IIT-JEE topper with AIR 1, who scored 341 marks in JEE Advanced, went on to pursue...
25 Billion Kilometers and Broken Voice: The Voyager 1 Saga
Mukesh Ambani's superhit plan for Jio users, 2GB data per day, unlimited calls at just Rs...
Bigg Boss 18: Shehzada Dhami out from Salman Khan's show? Here's what we know
Virat Kohli's epic dance move to 'My Name is Lakhan' during IND vs NZ match goes viral, WATCH
Indian man asking Selena Gomez to chant 'Jai Shree Ram' leaves internet furious, video goes viral
Lioness and leopard engage in fierce battle on tree top, what happens next will leave you shocked
OnePlus 13 launched with Snapdragon 8 Gen 4 SoC: Price details, battery and other specifications
Apple CEO Tim Cook shares Diwali photo, gives shoutout to Delhi photographer, post goes viral
LPG commercial cylinder price hiked from November 1; check revised rates in your city
Swiggy's next BIG step, set to challenge Mukesh Ambani in…
Singham Again review: A solid Ajay Devgn headlines Rohit Shetty's biggest entertainer
Bibek Debroy, noted economist and PM Modi's Economic Council Chairman, dies at 69
Bank Holidays In November 2024: Banks to remain closed for 12 days, state-wise list here
No respite for citizens, Delhi registers warmest October in 73 years
Girl's jalebi-rum cocktail video goes viral, social media says 'uff moment', WATCH
Good news for Gautam Adani, as he gets richer by Rs 39,000 crore in a week due to...
US Defence Secretary Austin discusses 'regional de-escalation' with Israeli counterpart Gallant
Govardhan Puja 2024: Shubh muhurat, rituals, significance of Annukut
Singham Again first cut review by DNA: Ajay Devgn leads an explosive film in style
Diwali 2024: Check Lakshmi Puja muhurat, timing, rituals for November 1
Ratan Tata's Will: Who will get Tata's beachfront Colaba residence, luxury car collection?
Mukesh Ambani, Nita Ambani live on 27th floor of Rs 15000 crore Antilia, know who all have access
Seven killed in Israel after Hezbollah targets Metula, Haifa, IDF pounds Lebanon, Syria