ED raids in Nirav Modi-PNB Rs 280 crore fraud PMLA case

Agencies
February 15, 2018

Mumbai, Feb 15: The Enforcement Directorate on Wednesday conducted multiple searches in connection with a Rs 280 crore money laundering case against billionaire jewellery designer Nirav Modi and others following a complaint by Punjab National Bank.

Official sources said the agency sleuths swooped down on at least ten premises of entities involved in the case early on Thursday morning.

The premises raided by the ED here include Modi's residence in Kurla, his jewellery boutique in Kala Ghoda area, three company locations in Bandra and Lower Parel, three premises in Surat in Gujarat and Modi's showrooms in Chanakyapuri and Defence Colony in Delhi.

The ED had filed a case under the Prevention of Money Laundering Act (PMLA) after going through a CBI FIR registered early this month.

It is understood that the ED also went through the PNB complaint that was made out against Modi and others.

The agency, they said, would probe if the reportedly defrauded bank funds were laundered and these proceeds of crime were subsequently used by the accused to create illegal assets and black money.

The CBI had booked Modi, his brother, wife and a business partner for reportedly cheating PNB of over Rs 280.70 crore in 2017.

The CBI had also raided the residence of Modi, his brother Nishal, wife Ami and Mehul Chinubhai Choksi, all partners of Diamond R US, Solar Exports and Stellar Diamonds and two bank officials - Gokulnath Shetty (now retired) and Manoj Kharat, who were also named in the FIR as accused.

Modi (46), who had figured in the Forbes' list of richest Indians, was booked by the CBI for cheating after PNB sent a complaint to it alleging that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".

"The public servants committed abuse of official position to cause pecuniary advantage to Diamond R US, Solar Exports, Stellar Diamonds and a wrongful loss of Rs 280.70 crore to Punjab National Bank during 2017," the CBI FIR has claimed.

The bank had also claimed in the complaint that a fraudulent issuance of Letters of Undertakings (LOU) took place on January 16, 2018, for and on behalf of the accused firms, which approached the bank and presented a set of import documents to the branch with a request to allow buyers' credit for making payment to overseas suppliers.

On Wednesday, the CBI received two fresh complaints from PNB allegedly against Modi and a jewellery company alleging fraudulent transactions worth about Rs 11,400 crore.

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Agencies
May 30,2020

New Delhi, May 30: The COVID-19 pandemic has left the Indian private healthcare sector in acute financial distress, a new survey said on Friday adding that the healthcare facilities in the country have witnessed at least 80 per cent fall in average revenue.

Post the lockdown from March 24, Indian hospitals have seen a large impact, especially among small and medium-sized hospitals, which are now facing existential challenges.

The survey by healthcare industry body NATHEALTH was conducted in 251 healthcare facilities across nine states and 69 cities to assess the impact of COVID-19 on the domestic healthcare industry.

The findings showed that 90 per cent of the surveyed healthcare facilities are facing financial challenges with 21 per cent facilities facing an existential threat.

"There is a need for a stimulus package to revive the Indian healthcare industry which will be crucial to provide much-needed relief to the healthcare sector which is the frontline defence in this fight against COVID-19," said Dr Sudarshan Ballal, President NATHEALTH.

According to the survey, hospitals in tier 1 and tier 2 cities are experiencing a 78 per cent reduction in OPD footfalls, and a drop of 79 per cent in in-patient admissions.

The study found that 90 per cent of organisations require some form of financial assistance.

The findings indicated that even after the lockdown lift, the situation will remain difficult for the hospitals and nursing homes as patients will hesitate from visiting hospitals.

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News Network
May 19,2020

New Delhi, May 19: The number of coronavirus cases crossed the one lakh mark in the country on Tuesday, while the death toll due to the infection touched 3,163, according to the Union Health Ministry.

A total of 134 deaths and 4,970 COVID-19 cases were reported in the country in the past 24 hours since 8 pm on Monday, it said.

The total number of coronavirus cases has risen to 1,01,139, the ministry said.

The number of active COVID-19 cases stood at 58,802 while 39,173 people have recovered and one patient has migrated, it said.

"Thus, around 38.73 per cent patients have recovered so far," a senior health ministry official said.

The total confirmed cases include foreigners.

Of the 134 deaths reported since Monday morning, 51 were in Maharashtra, 35 in Gujarat, 14 in Uttar Pradesh, eight in Delhi, seven in Rajasthan, six in West Bengal, four in Madhya Pradesh, three in Tamil Nadu, two each in Punjab and Jammu and Kashmir, and one each in Bihar and Telangana.

Of the 3,163 fatalities, Maharashtra tops tally with 1,249 deaths. Gujarat comes second with 694 deaths, followed by Madhya Pradesh at 252, West Bengal at 244, Delhi at 168, Rajasthan at 138, Uttar Pradesh at 118, Tamil Nadu at 81 and Andhra Pradesh at 50.

The death toll reached 37 each in Karnataka and Punjab and 35 in Telangana.

Jammu and Kashmir has reported 15 fatalities due to the disease, Haryana has 14 deaths while Bihar has registered nine and Kerala and Odisha each have reported four deaths.

Jharkhand, Chandigarh and Himachal Pradesh each have recorded three COVID-19 fatalities, while Assam has reported two deaths.

 Meghalaya, Uttarakhand and Puducherry have reported one fatality each, according to the data provided by the ministry.

According to the ministry's website, more than 70 per cent of the deaths are due to comorbidities, the existence of multiple disorders in the same person.

According to the health ministry's data updated in the morning, the highest number of confirmed cases in the country are from Maharashtra at 35,058, followed by Tamil Nadu at 11,760, Gujarat at 11,745, Delhi at 10,054, Rajasthan at 5,507, Madhya Pradesh at 5,236 and Uttar Pradesh at 4,605.

The number of COVID-19 cases has gone up to 2,825 in West Bengal, 2,474 in Andhra Pradesh and 1,980 in Punjab.

It has risen to 1,597 in Telangana, 1,391 in Bihar, 1,289 in Jammu and Kashmir, 1,246 in Karnataka and 928 in Haryana.

Odisha has reported 876 coronavirus infection cases so far, while Kerala has 630 cases. A total of 223 people have been infected with the virus in Jharkhand and 196 in Chandigarh.

Tripura has reported 167 cases, Assam has 107, Uttarakhand and Chhattisgarh have 93 cases each, Himachal Pradesh has 90 and Ladakh has registered 43 cases so far.

Goa has reported 38 COVID-19 cases, while the Andaman and Nicobar Islands has registered 33 infections.

Puducherry has registered 18 cases, Meghalaya has 13 and Manipur has seven cases. Mizoram, Arunachal Pradesh and Dadar and Nagar Haveli have reported a case each till how.

"814 cases are being reassigned to states," the ministry said on its website, adding "our figures are being reconciled with the ICMR".

State-wise distribution is subject to further verification and reconciliation, it said.

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News Network
January 6,2020

Aboard Air Force One, Jan 6: US President Donald Trump threatened sanctions against Baghdad on Sunday after Iraq's parliament called on US troops to leave the country, and the president said if troops did leave, Baghdad would have to pay Washington for the cost of the air base there.

"We have a very extraordinarily expensive air base that's there. It cost billions of dollars to build, long before my time. We're not leaving unless they pay us back for it," Trump told reporters on Air Force One.

Trump said that if Iraq asked US forces to leave and it was not done on a friendly basis, "we will charge them sanctions like they've never seen before ever. It'll make Iranian sanctions look somewhat tame."

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