Jaitley Slams Regulators, Auditors for PNB Fraud OUR CORRESPONDENT
Total Page：16
File Type：pdf, Size：1020Kb
millenniumpost.in RNI NO.: DELENG/2005/15351 REGD. NO.: DL(S)-01/3420/2018-20 millenniumPUBLISHED FROM DELHI & KOLKATA VOL.13, ISSUE 56 | Sunday, 25 February, 2018 | New Delhi | Pages 16 | Rs 3.00 post NO HALF TRUTHS CITY PAGE 3 NATION PAGE 4 FILM PAGE 16 POLICE GET ACCESS TO CCTV WOMEN’S EMPOWERMENT KEY TO WEDDING FOOTAGE OF ASSAULT ON HUSSAIN SECURING WELFARE OF FAMILIES: PM MANIA Aruna Reddy creates FM RULES OUT PRIVATISATION OF PSU BANKS Passports of Nirav Modi, history for Indian gymnastics Jaitley slams regulators, Mehul Choksi revoked OUR CORRESPONDENT NEW DELHI: The passports of diamantaire Nirav Modi and auditors for PNB fraud owner of Gitanjali Gems Mehul Choksi, the main accused in MPOST BUREAU the Rs 11,400 crore PNB scam, have been revoked, external affairs ministry sources said on NEW DELHI: Finance Minister Disturbing trend Saturday. Arun Jaitley on Saturday blamed On the advice of the inadequate oversight by regulators » In India politicians are accountable; Enforcement Directorate (ED), tion of Money Laundering Act MELBOURNE: Aruna Budda Reddy created and auditors as well as poor bank the regulators are not the ministry had suspended the (PMLA), and seized a Rs 81.16 history by becoming the first Indian to clinch a management for the INR 11,400 validity of their passports with crore valued penthouse (cre- medal at the gymnastics World Cup when she -crore fraud at India’s second-big- immediate effect for four weeks ated by joining three flats) and ‘Worrisome’ that not a single red took bronze in the women’s vault event here on gest state-owned lender, and said if » on February 16 and given one a flat worth Rs 15.45 crore in Saturday. needed the law would be tightened flag was raised when the fraud week’s time to them to respond the sea-facing Samudra Mahal Aruna registered a score of 13.369 points to to punish fraudsters. was perpetuated as to why their passports should apartments in the Worli area of finish behind Tjasa Kysslef of Slovenia and Emily Speaking for the second time not be impounded or revoked. Mumbai. Whitehead of Australia who finished with gold this week on the scandal envelop- “Since they have not “21 immovable proper- and silver, respectively. ing Punjab National Bank, Jaitley » Periodic surfacing of bank frauds responded so far, their pass- ties of Nirav Modi and com- Kysslef had a score of 13.800, while White- slammed lack of ethics in certain push reforms to the background ports have been revoked,” a panies controlled by him, with head registered 13.699 in the finals. sections of businesses and said senior ministry source said, a market value of Rs 523.72 Pranati Nayak, the second Indian in the fray, multiple layers of auditing system noting that in its notice to Modi crore, have been provisionally finished sixth with an aggregate score of 13.416 chose to either look the other way and Choksi, the ministry had attached. after two attempts. or did a casual job. made it clear that their pass- “These include six residen- This was the third gymnastics medal for Without naming either the ports would be cancelled if they tial properties, ten office prem- India at the world level. alleged kingpin of the fraud, bil- “Regulators have a critical Jaitley said Indian businesses opinion may not find favour with failed to respond. ises, two flats in Pune, a solar Ashish Kumar was the first Indian to claim lionaire jeweller Nirav Modi, or function. Regulators ultimately have to realise that it has to this idea itself. It’s a very challeng- Ministry sources said that power plant, a farmhouse in a gymnastics medal when he took the bronze PNB, he said it is “worrisome” that decide the rules of the game and develop a habit of doing ethical ing decision,” he said. future course of action would Alibaug and 135 acres of land medal at the 2010 Commonwealth Games in not a single red flag was raised regulators have to have a third-eye business. “Those who deviate from On mounting NPAs or bad be taken on the advice of the in Karjat in Ahmednagar dis- New Delhi. when the fraud was perpetuated. which is to be open perpetually,” that cause must always remem- debts, he asked how much of investigation agencies. trict,” the agency said. Dipa Karmakar also took bronze in women’s Also, worrisome is “top manage- the finance minister said. ber that the consequences will not them are due to business failure The Enforcement Director- With the latest action, the vault in the subsequent Commonwealth Games ment who were indifferent to what “But unfortunately in the only be commercial and civil.” and how much because of diver- ate (ED) on Saturday attached total assets seized by the ED, in in 2014, thus becoming the first female Indian was going on or were unaware of Indian system, we politicians are The finance minister also ruled sions by companies. “Cases of wil- 21 properties, including a this case, are now over Rs 6,393 gymnast to clinch a medal at the world level. what was going on,” he said. accountable, the regulators are out privatisation of public sec- ful defaults are something which is penthouse and a farmhouse, crore, officials claimed, adding Aruna had a good start in the final, scor- There were “at least multiple n ot .” tor banks as a response to the Rs much more than the business fail- of Nirav Modi and his group that this was being indepen- ing 9.066 points on execution after choosing a layers of auditing system which Frauds call for tightening regu- 11,400-crore fraud hitting Punjab ure itself,” he said. worth over Rs 523 crore in fresh dently valued. difficulty level of 4.600, which gave her a total chose to either look the other way lations where they are lacking, he National Bank, saying the move The finance minister said peri- action against the beleaguered They said the examination of 13.666 or do a casual job. said. “The law would be tightened may not be politically acceptable. odic surfacing of bank frauds push jeweller in the alleged Rs 11,400 is focussed on understanding She chose a higher difficulty level of 4.800 in You had inadequate super- further, if necessary, to find out “This (privatisation) involves to background the reforms and crore fraud in the PNB. how the crime was detected by her second attempt but could score only 8.833 vision,” he said. “Therefore, I where they (fraudsters) are and a large political consensus. Also, entire effort of making it easier The central probe agency the bank and other procedural on execution, which gave her a total of 13.633 think who did what will eventu- what is the extreme action that that involves an amendment to the to do business in India while the said it has issued a provi- issues and their violations. points. ally find out in the course of the law permits against such delin- law (Banking Regulation Act). My scars on the economy take a front sional order for attachment of They are not being treated The aggregate of her two attempts was then investigation.” quent persons.” impression is that Indian political seat. the assets, under the Preven- as accused, the officials said. taken, which gave her a final score of 13.649 AGENCIES points. THREE FRESH CASES OF FINANCIAL FRAUD Diversity key to Now, Delhi jeweller, bizman resilience and success JUSTIN TRUDEAU & PNB official land in CBI net OUR CORRESPONDENT Singla and others on a complaint of the Bank of Maharashtra for a loan In today’s NEW DELHI: Three fresh incidences through forged documents and its of financial fraud have come to light criminal misappropriation and use. paper as the CBI filed cases against a jewel- The same day, the agency also filed ler, a businessman and a public ser- a case against Inder Chand Chun- vant on complaints by three different dawat, a senior branch manager at ... banks earlier this week, an official said PNB’s Barmer branch in Rajasthan CITY on Saturday. for dishonesty and fraudulently sanc- On Thursday, the Central Bureau tioned and disbursing 26 Mudra loans. ‘RAPE ROKO’ CAMPAIGN REACHES US 3 of Investigation (CBI) registered a After the PNB and the Bank of NATION case against Delhi’s Karol Bagh-based Baroda filed cases against Nirav Modi diamond jewellery exporting firm and Rotomac Global, the Orien- ‘NCERT SYLLABUS TO BE REDUCED’ 4 Dwarka Das Seth International for an tal Bank of Commerce, the Bank of alleged bank loan fraud of Rs 389.85 Maharashtra and Barmer office of the BUSINESS crore involving the Oriental Bank of PNB rushed to the CBI as well with Commerce. The CBI on Wednesday their complaints of fraud, leading to COAI REBUTS RELIANCE JIO 5 filed a case against businessman Amit the agency filing three separate cases. INTERNATIONAL THE WOMAN IN ‘AFRICAN MONA LISA’? 6 Speeding Bolero kills nine SPORT SOUTH AFRICA CONQUERED 7 school children in Bihar MPOST BUREAU “The incident took place at Ahiya- pur-Jhapaha in Minapur police station FOR ADVERTISING MUZAFFARPUR: At least nine chil- area of the district where a Bolero ran kindly contact at 9810195709 dren were killed and about 20 injured over the children who were returning or when a speeding Bolero lost control to their homes after the school was [email protected] and ploughed through them outside over,” Vivek Kumar, Superintendent a government school building on the of Police, Muzaffarpur, said. outskirts of the city today, police said.