National
PNB scam: ED raids diamond trader Nirav Modi (Lead)
Mumbai, Feb 15 (IANS) A day after a massive $1.8 billion fraud was unearthed in a PNB branch here, the Enforcement Directorate (ED) on Thursday launched a nationwide raid on the offices, showrooms and workshops of billionaire diamond trader Nirav Modi.
ED teams swooped down and carried out simultaneous raids on Modi’s offices, showrooms and diamond workshops in Mumbai, Surat (Gujarat) and New Delhi.
According to sources, unspecified quantity of stocks of gold, diamond and other precious stones worth several hundred crores of rupees have been seized during the raids, besides incriminating documents, computer discs and other materials.
ED officials landed at Firestar Diamond Pvt Ltd. head office in Bharat Diamond Bourse, in Bandra Kurla Complex, Modi’s private office at Kohinoor City in Kurla West, his showroom and boutique at Itts House in Fort, south Mumbai and a workshop in the Peninsula Business Park in Lower Parel.
In Gujarat, six diamond workshops were raided in Surat SEZ at Sachin town and an office in Belgium Towers on Ring Road, the hub of diamond jewellery trade.
Two diamond jewellery boutiques of Modi in New Delhi – in Chanakyapuri and Defence Colony – were also raided.
The multi-pronged action came a day after the Punjab National Bank admitted to unearthing a fraud of Rs 11,515 crore involving Modi’s companies and certain other accounts with the bank’s flagship branch (Brady House Branch) in Mumbai and its second largest lending window in India.
At least 10 bank employees have been suspended but it is not clear whether anybody from the crucial PNB Credit Approval Committee or its Board of Directors figure among them.
The fraud, which includes money-laundering among others, concerns the Firestar Diamonds group in which the CBI last week booked Modi, his wife Ami, brother Nishal Modi and their maternal uncle Mehul Choksi.
It followed a complaint lodged by PNB on January 29 pertaining to an alleged cheating case of Rs 280 crore perpetrated by these four in 2011, but all the accused had already flown out of India on various dates to different locations worldwide.
Modi, along with other co-accused in the fraud, is absconding from the country and the Central Bureau of Investigation (CBI) had already issued a Look Out Circular against them on Janaury 31.
It is learnt that Modi – whose operations are spread across Europe, the US, Middle East and Far East besides India – has written to PNB and other banks that he would return their outstandings.
The latest case — which involves a sum considerably higher than the Vijay Mallya loan default of around Rs 9,000 crore to Indian banks — comes at a time when the Indian banking system is already grappling with swelling non-performing assets.
–IANS
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National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.