Top News
Part of Nirav’s money trail leading to Delaware in US, says ED source
By Anand Singh
New Delhi, Feb 27 (IANS) The Enforcement Directorate (ED), looking at the money trail related to jeweller-designer Nirav Modi, have found it leading to the Delaware state in the United States.
“The agency is probing details of the operations of Nirav Modi’s firms in Delaware,” an ED source told IANS, adding that all his bank transactions were under the scanner.
Delaware in the US is a tax-free state, attracting a large number of companies from across the coutnry to register there. The ED source said investigators were trying to find out if Nirav Modi had diverted any of the loans raised from Indian banks to the US which had been indicated in the documents they were studying.
They are also looking at whether some shell companies were set up in the US. According to the agency, Delaware hosts about 50 per cent of the US’ quoted firms with a tally of 6.5 lakh companies, overall.
Earlier in the day, Firestar Diamond Inc, the US company of Indian billionaire diamond trader Nirav Modi filed for bankruptcy in a New York court, under Chapter 11.
According to a court filing in Southern District of New York on Monday, the firm listed its liabilities in the range of $50 million and $100 million. A Chapter 11 filing under the Bankruptcy Code usually allows a company to reorganise its business.
Modi — who along with uncle Mehul Choksi of Gitanjali Group is the main accused in the Punjab National Bank fraud — has been shown as an inventor in details filed against his company registered at 5th Avenue in New York. Mihir Bhansali has been shown as the company Chief Executive Officer and Ajay Gandhi the Chief Financial Officer.
On Monday, a Mumbai special court permitted the ED to issue Letters Rogatory to six countries for identifying and taking steps to seize Nirav Modi’s properties in the PNB fraud case.
The ED source official said it is looking for shell companies of Nirav Modi and Choksi in foreign countries, “especially in tax havens”.
The agency officials had earlier said over 120 shell companies of both of them in India were under probe.
The ED action comes in the wake of its ongoing fraud probe — along with the Central Bureau of Investigation — against the two and many others, including directors of their companies and bank officials.
Modi has been accused, along with his Choksi, of defrauding the Punjab National Bank of Rs 12,600 crore, with Rs 1,300 being added to the fraud kitty on Monday night.
Earlier, the amount stated to have been defrauded by Modi and Choksi companies was Rs 11,300 crore.
The CBI had filed the first FIR in the scam on February 14 against Nirav Modi, his wife Ami, brother Nishal, uncle Choksi and his firms Diamond R US, Solar Exports and Stellar Diamond.
Nirav Modi, his family and Choksi left the country in early January. The FIR mentions fraud of around Rs 6,400 crore.
The CBI filed the second FIR on February 15 for Rs 4,886.72 crore fraud against the Gitanjali group headed by Choksi.
The agency source said the CBI had written to the Chief Vigilance Officers of five banks to share details of money credited to Nostro accounts of PNB on receiving Letters of Undertaking and Foreign Letters of Credit, which were then withdrawn by Nirav and Choksi’s group as buyer’s credit.
Till date 12 persons have been arrested in the case. The ED has attached properties valued by them at Rs 6,000 crore.
(Anand Singh can be contacted at [email protected])
–IANS
aks/tsb/hs
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
