PNB scam: ED arrests close associate of Nirav Modi

Billionaire jeweller Nirav Modi is at the centre of the Rs13,000 crore PNB fraud

Top finance ministry officials said the ministry had advised PNB to consider settling the dues, subject to the proviso of the refund by the banks in case investigations found complicity of those banks or their officials in the alleged Nirav Modi fraud. PNB has previously said it was ready to honor "bona fide" commitments, but it has also said counterparty banks were partly at fault for not making adequate checks when sanctioning the loans.

A special CBI court on Monday had allowed the Enforcement Directorate's plea seeking permission to interrogate employees of the Nirav Modi group firms who are in judicial custody in the alleged Punjab National Bank (PNB) fraud.

"The Special Judge, CBI Cases, Tis Hazari Courts, Delhi sentenced Charanjeet Arora, then Manager, PNB and three private persons (Sushil Kumar Gupta, Narendra Kumar Gupta and Manoj Kumar Gupta) to undergo five years' RI with fines ranging from Rs one lakh to five lakh", the CBI said here on Tuesday.

It has also been reported that the Brady branch issued Rs 12,900 crore worth of letters of undertaking (LoU) to companies owned and run by diamantaire Nirav Modi and his uncle Mehul Choksi. "The total amount involved is reported as Rs 13,923.14 crore, which includes a report dated February 22, 2018 on additional amount involved of Rs 1,251.96 crore", he had said.

The ED claimed Wadhwa was instrumental in setting up two companies in Hong Kong (Ms Aura Gem and Ms Sino Traders) along with "dummy" directors and these firms "were used" for laundering proceed of crime and substantial amounts totalling Rs 5,921 crore.

Uber Will Not Renew California Permit To Operate Self Driving Cars
Seven experts who have reviewed the crash agree that a self-driving system should have seen Herzberg and braked. This decision also would indicate a longer hiatus from testing by the ride-hailing company.

Arturo Vidal on Mourinho's radar with United ready to offer €50m
Vidal's best days are past him, but he remains a player with great drive and a talent who has partnered Paul Pogba at club level. Vidal is yet to try his hand in England, and a move to the Premier League to link up with Sanchez is obviously appealing.

EBay (NASDAQ:EBAY) SVP Sells $1106737.73 in Stock
Shareholders Bancorp, Inc ., a United States of America based Company, belongs to Financial sector and Savings & Loans industry. Ebay Inc now has $40.19 billion valuation. (NASDAQ: EBAY ) has "Buy" rating given on Friday , October 21 by Hilliard Lyons.

The ED said, "the Money trail traced so far with respect to suspected money laundering" gives reason to believe Wadhwa's active involvement and "his initial ignorance about Doshi is clearly selective amnesia to hoodwink the process of law, " said the ED.

The Enforcement Directorate says Shyam Sunder Wadhwa was in close touch with Nirav Modi and was also involved in money laundering at the behest of and in aid of the diamantaire. Wadhwa is expected to be produced before a local court in Mumbai today.

The agency said Wadhwas custodial interrogation would help it in "unravelling the truth behind the scam".

The CBI said after investigation, it filed a charge sheet against the accused. The matter will be heard on March 31.


  • Whirling Stock: Southwestern Energy Company (NYSE:SWN)

    Whirling Stock: Southwestern Energy Company (NYSE:SWN)

    China is predictable to soon declare a list of retaliatory tariffs on USA exports, its state-run Global Times stated on Wednesday. Information in this release is fact checked and produced by competent editors of Stocks Pen; however, human error can exist .

    Darren Lehmann, David Warner refuse to answer questions on future

    Cricket Australia have banned Smith and Warner for 12 months for their role in the scandal, while Bancroft has been suspended for nine months.
    Keys to victory for every Final Four team

    Keys to victory for every Final Four team

    They have the second highest adjusted offensive rating, behind 2015 Wisconsin, ever tracked in the 16-year history of It's the expected cost of the renovation funded by donors of Villanova's on-campus arena when it reopens next season.
  • Bitcoin hovers around $8000 after Twitter bans ICO ads

    Bitcoin hovers around $8000 after Twitter bans ICO ads

    Binance Coin (BNB) traded 4.5% higher against the dollar and now trades at $12.09 or 0.00150123 BTC. Bitcoin Red's official Twitter account is @BitcoinRed1 and its Facebook page is accessible here.
    Ben Watson reportedly returning to Saints on 1-year deal

    Ben Watson reportedly returning to Saints on 1-year deal

    The 37-year-old Watson previously played for the Saints from 2013-15 before joining the Baltimore Ravens the past two seasons. He missed 2016 due to a torn Achilles' but managed to bounce back with a solid campaign for the Ravens previous year .
    Arrested man may be 'Basil', mysterious ringleader of Hatton Garden jewel raid

    Arrested man may be 'Basil', mysterious ringleader of Hatton Garden jewel raid

    The mysterious mastermind of the Hatton Garden heist is thought to have been arrested after nearly three years as a fugitive. Nine people were convicted and jailed for their roles in the raid, one of the biggest in United Kingdom history.
  • Snapchat may let third-party apps connect to your account

    Snapchat may let third-party apps connect to your account

    After Facebook's Cambridge Analytica data privacy scandal , the social media platform has been in full damage control mode. Shazam also has an integration with Snapchat , though that doesn't require users to have a Shazam account.

    Genworth Financial, Inc. (GNW) - Technical observation

    Wells Fargo reaffirmed a "hold" rating on shares of Genworth Financial in a research report on Wednesday, November 29th. Among 18 analysts covering Antero Midstream Partners LP ( NYSE:AM ), 16 have Buy rating, 0 Sell and 2 Hold.

    Automatic Data Processing (NASDAQ:ADP) Stake Lifted by OppenheimerFunds Inc

    The company was maintained on Friday, July 29 by Citigroup. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. Gargoyle Investment Advisor has invested 0.69% in Cisco Systems, Inc. 16 funds opened positions while 23 raised stakes.
  • Photos! Shloka Mehta and Akash Ambani's pre-engagement party

    Photos! Shloka Mehta and Akash Ambani's pre-engagement party

    The Ambanis threw a lavish bash on Monday evening to celebrate the engagement, and it was attended by the who's who of Bollywood. After swapping rings in Goa, the entire Ambani family along with Shloka Mehta visited Siddhivinayak temple to seek blessings.
    Tiger Shroff and I have a platonic relationship: Disha Patani

    Tiger Shroff and I have a platonic relationship: Disha Patani

    So I always look for something I would love to do because I have to spend a year promoting, shooting. She added "Actually, I have no friends in the industry, I am friends only with the Shroffs".
    Mikael Dolsten Sells 69699 Shares of Pfizer Inc. (PFE) Stock

    Mikael Dolsten Sells 69699 Shares of Pfizer Inc. (PFE) Stock

    Institutional Ownership/ Insider Ownership: Pfizer Inc . institutional ownership is held at 73% while insider ownership was 0.1%. Halsey Associates Inc increased its stake in Pfizer ( PFE ) by 67.94% based on its latest 2017Q4 regulatory filing with the SEC.


Latest news

Sachin Tendulkar visits school in Mumbai, sanctions funds for upgradation of classrooms
Denness was removed as referee for the following game with the match being deemed as an unofficial Test match. However, Tendulkar always maintained that he was trying to clean the dirt and did not tamper with the ball.

Featured Stock to See: The Boeing Company (NYSE:BA)
It is negative, as 50 investors sold BA shares while 609 reduced holdings. 148 funds opened positions while 391 raised stakes. Edward Jones upgraded shares of Boeing from a "hold" rating to a "buy" rating in a research note on Tuesday, February 13th.

Is it Time for a Financial Check: Analog Devices, Inc. (ADI)
The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.13. The company is now riding on strength across all the markets and positive contributions from Linear Technology acquisition.

NXP Semiconductors NV (NXPI) Stock Price stands -1.23% away from 20 SMA
Jefferies Grp Limited Liability Corporation holds 0.1% of its portfolio in Eli Lilly and Company (NYSE:LLY) for 261,858 shares. BidaskClub raised NXP Semiconductors from a "sell" rating to a "hold" rating in a research report on Wednesday, March 21st.

Judge denies Governor Walker's attempt to avoid immediate special election
Finnerty is the chairwoman of the Democratic Party of Door County. "Our voices have effectively been silenced", Zimdars said. Conservatives also hold a 5-2 majority on Wisconsin's Supreme Court, which is officially nonpartisan.

Tua Tagovailoa throwing some at Alabama practice after breaking bone in hand
Per Tide HC Nick Saban, the signal-caller is now able to grip the ball and work handoffs, in addition to throwing sans intensity. Saban says Tagovailoa has "a really good, positive attitude about it, and we feel good about where he's heading".

Librating Stock: Novavax, Inc. (NASDAQ:NVAX)
YTD calculations are commonly used by investors and analysts in the assessment of portfolio performance due to their simplicity. The ideal time to sell a stock is usually when it is trading higher than its target price range or during overheated markets.

Modi government says no to Google Street View
It was created in 2007, two years after Google Maps, as a way for anyone to explore landmarks and streets around the world. The 2016 drafted bill is still under observation and is being delayed because of controversial inputs and flaws.

LPL Financial LLC Has $3.99 Million Position in Equifax Inc. (EFX)
Granite Investment Partners Llc increased Fedex Corp (NYSE:FDX) stake by 11,676 shares to 15,532 valued at $3.88M in 2017Q4. Utah Retirement Sys owns 0.05% invested in Equifax Inc. (NYSE:EFX), we note that shares are trading near the 116.42 level.

Analyst Research and Ratings: Fiat Chrysler Automobiles NV (FCAU), Symantec Corporation (SYMC)
Analyst established EPS growth expected to grow of 44.60% for this year and EPS growth for next year is likely to attain at 4.80%. Institutions purchase large blocks of a company's outstanding shares and can exert considerable influence upon its management.

Robecosam AG Grows Stake in VF Corp (NYSE:VFC)
Its down 0.16, from 0.88 in 2017Q3. 104 funds opened positions while 328 raised stakes. 178,321 were reported by Guinness Asset. The textile maker reported $1.01 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $1.02 by ($0.01).

BMW and Daimler team up on ride hailing and sharing
The ride-hailing expansion could position the combined service as a more formidable competitor to the likes of Uber and Lyft. So far, electric cars have only a small market share due to higher cost, limited range and lack of places to charge.

Singapore Airlines investing US$350 million to equip initial 787-10s
The airline will be upping its game yet again for medium-haul routes operated by its new Boeing 787-10 Dreamliner . Prior to this launch, the 787-10 will be placed on select crew proving flights to Bangkok and Kuala Lumpur.

Missing Girl Found Safe After Tip from 'Live PD'
A young girl who went missing for almost two years was found safe thanks to a tip generated by a television show. This was the same day their mother, Amanda Martinez, tested positive for methamphetamine.

Harper Sells 1525 Shares of Amgen, Inc. (NASDAQ:AMGN) Stock
Finally, Cowen reiterated a buy rating and issued a $204.00 price target on shares of Amgen in a report on Friday, February 2nd. Amgen Inc ., a US based Company, belongs to Healthcare sector and Biotechnology industry. 1,180 were accumulated by Jnba Advsr.

Other news