Priyanka Chopra ends contract with Nirav Modi brand

Here's What Nirav Modi's 11000 Crore Scam Could Mean In Bollywood Terminology

Two office properties, worth about Rs 80 crore, in the name of Mark Business Enterprises Private Limited in the Lower Parel area of Mumbai have also been attached.

Besides, there is allegation of forgery and unauthorised use of global payment network SWIFT for unauthorised issuance of credit instrument (LoU) while lenders issued standby letters of credit in favour of worldwide bullion banks to supply gold to Winsome Group companies.

The agency had earlier seized gems, diamonds, jewellery, shares, bank deposits and costly cars, taking the value of seizures so far to over '6,000 crore.

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These PNB employees were questioned for the first time in connection with the fraud along with some other employees of the government-owned bank and a few employees of Nirav Modi and Choksi.

The lawyer of businessman Nirav Modi on Saturday said the Enforcement Directorate (ED) and the Passport Authority are acting contrary to each other.

On Thursday, the Income Tax (IT) Department attached the special economic zone (SEZ) property of Mehul Choksi's Gitanjali Group in Hyderabad, sources at the department said. "The same is factually incorrect as the bank has transferred 257 sub staff, 437 clerks and 721 officers (total 1, 415 employees) since February 19, 2018, as per prevailing Rotational Transfer Policy of the bank", PNB has tweeted.

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But the sudden decision also raised questions among employees, some of whom had voted to unionize only a week earlier. The acquisition is being funded mainly through funds from two anonymous donors, the stations said in a news release.

Both Choksi and Modi, who left the country just before PNB lodged a complaint of fraud, haven't replied to summons. "At no stage, such facilities were extended by our bank to your three partner firms".

The ED, a central probe agency under the Finance ministry, is investigating if the allegedly defrauded bank funds were laundered and proceeds of crime were subsequently used by the accused to create illegal assets and black money. In a letter to his employees, the Gitanjali owner suggested to employees that in view of the uncertainty looming overpayment of dues, termination of office operations, and "unfair investigation", they begin scouting for alternate career options.

Separately, PNB said a news report that it had approached the global accounting firm PwC to conduct a probe into the alleged fraud that would help it build a case against Nirav Modi and his associates was "totally incorrect". It also reaffirmed that the bank is committed to honour all bonafide commitments.

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Expectations for a quarter-point hike at the Fed's next meeting in March are now 93.5 percent, according to Thomson Reuters data. There are several reasons why the earlier correction didn't spell a total crash for the stock market.

Stock exchanges had sought clarification on Modi's comment that "PNB has closed all options to recover dues by going public".

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