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HomeWorldIndiaFugitive assistant Nirav Modi brought to India from Cairo: CBI . sources

Fugitive assistant Nirav Modi brought to India from Cairo: CBI . sources

that it key Accused in 7000 crores bank Fraud case involving Nirav Modi

Mumbai:

Subhash Shankar Parab, close associate of The fugitive goldsmith Nirav Modi has been deported from Egypt today by the Central Office of Investigation (CBI), official The sources said.

Mr. Barab, who Flee to Cairo in 2018, landed in Early this morning after the deportation, Mumbai officials said, adding that he will be brought in in CBI Court 12 noon.

he is the key Accused in 7000 Crore Nirav Modi bank fraud case. Mr. Barab, who Was Deputy General Manager (Finance) in Firestar Diamond, the beans can spill on The largest in the country financial to cheat in the state-run The Punjab National Bank (PNB) was allegedly committed by Nirav Modi and Mehul Choksi with aggregate loss of Officials said Rs 13,000 crore.

While Mr. Moody in London prison After repeated denials of On bail and challenged his extradition to India, Mr. Choksi obtained citizenship of Antigua and Barbuda in 2017 using Citizenship by Investment Program even before fleeing India in The first week of January 2018.

Investigations revealed these messages for scam messages of The pledge (LoU) has been sent to overseas Banks by abusing society for Global Interbank Financial Communications (SWIFT), a international Messaging system for banking, and without making their subsequent entries in Indoor PNB software “Finacle”, thus bypassing any audit of This money in The bank.

LoU is a file guarantee from version bank For Indian banks with overseas branches for short grants-term Credit to the applicant. In case of default, bank Issuance of LoU must pay the responsibility to give credit bank Along with accrued benefits.

companies of Mr. Modi and Mr. Choksi took Loans from banks abroad on the basics of These LoUs but did not repay them, thus transferring the responsibility on PNB.

allegedly senior Officials of The PNB did not implement the cautionary circulars and notices issued by the Reserve Bank of India (RBI) Conservation of SWIFT operation and realistic situation twist to the top bank.

reconciliation of Basic Banking Solutions (CBS) and SWIFT messages were not implemented despite repeated RBI circulars, warning notices and questionnaires, the CBI claimed.

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Sallie Anderson
Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

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