×
670
Fashion Jobs
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Amritsar
Permanent · Amritsar
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Mohali
Permanent · Sahibzada Ajit Singh Nagar
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Bundi
Permanent · Bundi
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Pali
Permanent · Pali
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Guwahati
Permanent · Guwahati
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Aurangabad
Permanent · Aurangabad
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Mount Abu
Permanent · Mount Abu
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Allahabad
Permanent · Prayagraj
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Ludhiana
Permanent · Ludhiana
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Gorakhpur
Permanent · Gorakhpur
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Kanyakumari
Permanent · Kanyakumari
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Alleppey
Permanent · Alappuzha
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Pondicherry
Permanent · Puducherry
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Firozabad
Permanent · Firozabad
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Phagwara
Permanent · Phagwara
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Jalgaon
Permanent · Jalgaon
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Sawai Madhopur
Permanent · Sawai Madhopur
LAVYA ASSOCIATES
Area Sales Manager- Banca | Life Insurance-Ranchi
Permanent · Ranchi
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Dapoli
Permanent · Dapoli
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Panvel
Permanent · Navi Mumbai
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Dalhousie
Permanent · Dalhousie
LAVYA ASSOCIATES
Area Sales Manager- Agency-Life Insurance-Pantnagar
Permanent · Pantnagar
Published
Sep 12, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Oriental Bank reveals Rs 289 crore loan exposure to Nirav Modi, Mehul Choksi

Published
Sep 12, 2019

Oriental Bank has revealed that it has a Rs 289 crore ($43.44 million) loan exposure to companies owned by accused jewellers Nirav Modi and Mehul Choksi.

Oriental Bank revealed Rs 289 crore loan exposure to accused jewellers Nirav Modi and Mehul Choksi - Nirav Modi- Facebook


The public sector bank, the Oriental Bank of Commerce, has announced that it was also involved in the Punjab National Bank fraud case for the first time, Indo-Asian News Service reported. The announcement has come ahead of the bank’s merger with the Punjab National Bank which was one of the main banks involved in the fraud scandal involving Modi and Choksi.

The bank has issued notices naming Modi and Choksi as “wilful defaulters” on a number of loans totalling Rs 289 crore. The business named its Large Corporate Branch on Cuffe Parade in Mumbai as the branch where the fraud took place.

The bank said that Modi’s businesses Firestar International Pvt. Ltd. and Fire Star Diamond International Pvt. Ltd. failed to repay loans of Rs 60.41 crore and Rs 32.25 crore. The bank also said that Choksi’s companies Gitanjali Gems Ltd. and Nakashatra World Ltd. failed to repay loans totalling Rs 136.45 crore and Rs 59.53 crore. The bank warned others from entering into any deals with the two accused jewellers.

Modi is currently being held in Wandsworth jail in the UK as he awaits the start of his extradition hearing. Choksi is believed to be residing in Antigua where he has taken citizenship and Indian authorities are working to begin extradition negotiations. 

Copyright © 2022 FashionNetwork.com All rights reserved.