Four of India’s top diamantaires are involved in the largest banking fraud in India’s history. Gitanjali Gems (Mehul Choksi), Ginni (Choksi subsidiary), Nakshatra Jewellers (Choksi subsidiary), Firestar Diamond (Nirav Modi, his wife and his brother are owners) looted nearly ₹11,300 crore from the public sector bank – Punjab National Bank (PNB) and fled the country … Read more
It’s not yet a week that the ₹11,400 crore worth PNB scam involving Nirav Modi and Mehul Choksi, two close aides of the Narendra Modi-led BJP government, became public, Assocham, an organisation that represents the interests of corporate India, started unashamedly raising the demand for privatisation of the public sector banks (PSB) to prevent the … Read more
Last week, a shocked India confronted a gigantic banking scam, unprecedented in terms of magnitude and methods employed. A big comprador and crony capitalist, Nirav Modi, who owns a large chain of designer diamond jewellery business throughout the world, along with his partners, duped the second-largest public sector bank of India, Punjab National Bank (PNB), … Read more