The London High Court has denied Nirav Modi’s 10th bail application, emphasizing the significant risk of him fleeing if released. The court reiterated the strong case against him regarding the Punjab National Bank fraud, amounting to over Rs.13,800 crore, and highlighted concerns of evidence tampering and witness interference.
Fugitive businessman Mehul Choksi faces a legal setback as a Belgian court postpones a hearing on his plea against arrest linked to the ₹ 13,000-crore PNB scam. Choksi argues his arrest was mishandled and denies basic rights. His extradition is actively pursued by Indian authorities as he seeks bail.
The Kerala High Court criticized a sessions court for comparing an NDPS case accused to fugitives Vijay Mallya and Nirav Modi. The court stated that denying travel permission based on an unfounded assumption of absconding was inappropriate. It emphasized that such reasoning lacked legal justification. This ruling reinforces the importance of fair judicial decisions.
Finance Minister Nirmala Sitharaman reported in the Lok Sabha that the Enforcement Directorate (ED) has recovered Rs 22,280 crore in illicit assets, aiding public sector banks and defrauded investors. Key recoveries include Rs 14,132 crore from Vijay Mallya and Rs 1,053 crore from Nirav Modi. The government remains committed to combating economic offenses.
The Bombay High Court summoned Mehul Choksi, a key accused in the PNB scam, to appear before the court. The court expressed concern about his absence and rejected his petitions, questioning his whereabouts. Choksi’s lawyer argued against his fugitive status, while the ED informed that proceedings to declare him a fugitive are ongoing. The court adjourned the hearing to August 12.
Former Gitanjali Group executive Sunil Varma, accused in the PNB scam, was granted interim bail by an anti-money laundering court. The CBI sought custody, alleging his involvement in orchestrating the scam. Varma, who had been evading the authorities, appeared in court following the suspension of a non-bailable warrant. Varma’s lawyer argued that the summons were incorrectly served.
Yesterday 6th April, A Mumbai court ruled that the proceeds from the sale of Nirav Modi’s London property must be transferred to the Indian Government. Nirav Modi, facing charges related to financial fraud in India, has been declared a fugitive economic offender. The decision aims to recover assets connected to high-profile economic crimes and repatriate illicitly acquired wealth.
The Supreme Court has granted bail to Hemant Bhatt, closely linked to the Punjab National Bank (PNB) fraud case involving Nirav Modi. This decision raises concerns about banking regulations and the prevention of financial fraud. The case continues to highlight challenges in India’s banking industry and the legal system’s role in addressing financial crimes.
In a significant development, the Supreme Court of India imposed a fine of Rs 1 lakh on Lucknow-based Advocate Ashok Pandey for filing a Public Interest Litigation (PIL) challenging the restoration of Congress leader Rahul Gandhi’s Lok Sabha membership. The bench, comprising Justices BR Gavai and Sandeep Mehta, dismissed the plea, labeling it as frivolous […]
![[PNB Scam] Gitanjali Group Ex-Staffer Gets Interim Bail; CBI Seeks Custody](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/07/image-73-2.png?resize=447%2C320&ssl=1)
