Nirav Modi Scam

Can we in India do anything about the deep state in India that keeps looting India


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indiazain

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After the statements made by both the parties on the Nirav Modi Scam I dont know who is correct. Of course since congress is perhaps the most corrupt party on earth it is extremely difficult to believe their story which is based on a single fact that was anyone in the Narendra Modi Government aware of such a loan. I know it is silly to expect the PM or his office to verify the legality of transactions in two and half trillion dollar economy.However the money involved was a lot.Having Said that the congress itself is neck deep in this Scam and if anything it looks like their closet of skeletons is very serious this time.(Check arnabs video 2 below ).
However for the time being everything seems muddy and the actual truth is not out their and in the meanwhile the looter of our public money is having the time of his life in new york. Which leads me to my next question can we ever defeat the deep state in India or do we have to resign to the fact that the deep state is part of our system and we have to live on its mercy.

Pappu Gandi version:

Arnab Version:
BJP Version
 

Flame Thrower

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indus

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Screenshot_20180217-215425.png
Lo ek aur gaya.
Is it something to do with Demo.
 

ezsasa

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CBI FIR is for 4886.72 crores.... ED seized 5674 crore...

upload_2018-2-17_23-22-56.png




ED conducted further searches at 21 locations across India in Nirav Modi case & seized diamonds, gold, precious stones/ metals & jewellery worth Rs 25 crore (Book Value). Total seizure till now is Rs 5674 Crore.

 

F-14B

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I was thinking the same as the raksha mantri said this seems a auwfully similar to the RK Talwar episod
 

lcafanboy

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Another PNB-Like Scam? Rotomac Pens Owner 'Flees' After Taking Rs 800 Crore from Govt-run Banks

According to sources, Vikram Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank. A year later, Kothari has been reported to not have paid back either the interest or the loaned amount.

Rounak Kumar Gunjan | News18.com@Rounak_T


Updated:February 18, 2018, 8:11 AM IST




Image for representation.

Kanpur: Just days after the Punjab National Bank (PNB) Rs 11,360 crore fraud came to light, another state-run bank has reported a million dollar scam. The parent company of Rotomac Pens has been accused of fleeing with loans of more than Rs 800 crore from various government banks in the country.

According to sources, the owner of the company, Vikram Kothari, had taken a loan of more than Rs 800 crores from five government banks. Sources have confirmed that Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to render these loans to Kothari.

Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank. A year later, Kothari has been reported to not have paid back either the interest or the loaned amount.

Kothari's office in Kanpur’s City Center road has been locked for the past week. Kothari, too, has been untraceable ever since.

Meanwhile, Allahabad Bank manager Rajesh Gupta said he hoped the amount would be recovered by selling Kothari’s properties.

This comes after jewellers Nirav Modi and Mehul Choksi were involved in fraudulent transactions worth Rs 11,360 crore through PNB.

According to a complaint by PNB, the biggest fraud in Indian banking history involved two junior officials at a Mumbai bank branch issuing "letters of undertaking" to firms linked to Modi and Choksi for them to obtain credit from overseas branches of other Indian lenders.

While three companies of Mehul Choksi — Gitanjali Gems, Gili India and Nakshatra Brand Ltd — have been named in the CBI FIR, Modi and Choksi’s passports have now been cancelled for four weeks by the Ministry of External Affairs.

“On the advice of the Enforcement Directorate, the passport issuing authority in the Ministry of External Affairs has suspended the validity of passports of Mr Nirav Deepak Modi and Mr Mehul Chinubhai Choksi with immediate effect for a period of four weeks u/s 10(A) of the Passports Act 1967,” said a press release by the MEA.

http://www.news18.com/news/india/an...rs-800-crore-from-govt-run-banks-1664279.html
 

ezsasa

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Another PNB-Like Scam? Rotomac Pens Owner 'Flees' After Taking Rs 800 Crore from Govt-run Banks

According to sources, Vikram Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank. A year later, Kothari has been reported to not have paid back either the interest or the loaned amount.

Rounak Kumar Gunjan | News18.com@Rounak_T


Updated:February 18, 2018, 8:11 AM IST




Image for representation.

Kanpur: Just days after the Punjab National Bank (PNB) Rs 11,360 crore fraud came to light, another state-run bank has reported a million dollar scam. The parent company of Rotomac Pens has been accused of fleeing with loans of more than Rs 800 crore from various government banks in the country.

According to sources, the owner of the company, Vikram Kothari, had taken a loan of more than Rs 800 crores from five government banks. Sources have confirmed that Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to render these loans to Kothari.

Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank. A year later, Kothari has been reported to not have paid back either the interest or the loaned amount.

Kothari's office in Kanpur’s City Center road has been locked for the past week. Kothari, too, has been untraceable ever since.

Meanwhile, Allahabad Bank manager Rajesh Gupta said he hoped the amount would be recovered by selling Kothari’s properties.

This comes after jewellers Nirav Modi and Mehul Choksi were involved in fraudulent transactions worth Rs 11,360 crore through PNB.

According to a complaint by PNB, the biggest fraud in Indian banking history involved two junior officials at a Mumbai bank branch issuing "letters of undertaking" to firms linked to Modi and Choksi for them to obtain credit from overseas branches of other Indian lenders.

While three companies of Mehul Choksi — Gitanjali Gems, Gili India and Nakshatra Brand Ltd — have been named in the CBI FIR, Modi and Choksi’s passports have now been cancelled for four weeks by the Ministry of External Affairs.

“On the advice of the Enforcement Directorate, the passport issuing authority in the Ministry of External Affairs has suspended the validity of passports of Mr Nirav Deepak Modi and Mr Mehul Chinubhai Choksi with immediate effect for a period of four weeks u/s 10(A) of the Passports Act 1967,” said a press release by the MEA.

http://www.news18.com/news/india/an...rs-800-crore-from-govt-run-banks-1664279.html
Just to be clear....

Not paying loan back is not a fraud.

Getting the loan approved via illegal methods and fleeing the country is fraud.
 

F-14B

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This is what happens when goverment dose banking the next thing is to reprivetize the sydtem leavng only the SBI as th sole goverment owned bank in my opion the RBI too should be reverted to private handso
 

indiazain

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Rhaul Baba via the congress is trying desperately to push the blame on BJP however without any real substance.
Just look at what Rahul is saying in his tweets ...its more childish than a schoolboy.
"Seriously Modi robs India "...his tweet.. for generations congress keeps robing India on the name of India...infact they are the biggest robbers of India may more bad than British....remember the days when everything need approval from high command...
Shusma swaraj famously once said that if Sonia becomes PM she would shave her head.If Rahul become PM I dont have a clue.The fact of even considering him for PM is joke...Just Imagine him with trump in the room and no mummy around...poor chap would be bullied...

rb.PNG
 

indus

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Can anybody corroborate or shed light whether coming out of these fraud cases is an aftereffect of demonitisation. I strongly feel so...
 

HariPrasad-1

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Nirav gandhi's has said that he will return all money within six months. This is not actually a scam in pure term but some bank officials keep extending letter of credit illegally. Nirav used that money to extend his business now the new officer came and see that this illegally given. Now you can not pay Rs 11500 crore immediately and some time is needed which ofcourse this government can not give. His property worth Rs 5500 crore is already attached. I hope that all money shall be recovered or be paid in coming one year
 

Prashant12

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Non-bailable warrant (NBW) issued by Karnataka HC against Mehul Choksi in 2016 not executed by Karnataka govt

 

ezsasa

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Can anybody corroborate or shed light whether coming out of these fraud cases is an aftereffect of demonitisation. I strongly feel so...
Don’t think this has anything to do with demonetisation.

All this was probably triggered by impending retirement (may 2017) of an bank employee at that time, since the guy was retiring Nirav modi and co got greedy and tried to encase large number of LOU in a short period of time.
 

hit&run

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I don't know if its related but I was waiting to receive some funds from my Brother in law but PNB bank was down for maintenance last month.

It took me around 10 days before I got the money. Everyday I was asking for money over the phone and I was being told the whole bank is going through massive software upgrade. I even captured the PNB web page as I had to tell the other party for the reasons of this delay.

My Brother-in-Law will laugh at me everytime; would say its due to Modi banks are being made highly digitalized transparent and better connected to Aadhar and other government schemes etc.

Now last week when this news broke I realised that things which were not made public are now coming out in open. It may be due to digitalization that cooking books has become hard and PNB had no option but to make it public.

 

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