Insta
Modi Sarkaar Gets Serious On Loan Defaulters; Stringent Law For Errant Auditors In The Offing
Swarajya Staff
Mar 01, 2018, 05:12 PM | Updated 05:11 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
In the backdrop of recent financial scams, Prime Minister Narendra Modi will chair a meeting with his cabinet at 4 pm today (1 March) to discuss a new law for defaulters, reports Republic. The Centre might also give its nod to set up a National Financial Reporting Authority (NFRA) to act against various errant auditors.
The Enforcement Directorate (ED) today (1 March) said that 41 properties worth over Rs 1,200 crore were attached in connection with the probe into money laundering in the Punjab National Bank (PNB) scam against Mehul Choksi and Gitanjali Gems. The ED issued a provisional order to attach the properties under the Prevention of Money Laundering Act (PMLA).
Among the attached properties are 15 apartments and 17 office premises in Mumbai, a four acre farm house in Alibaug in the outskirts of Mumbai, 231 acres of land across Nasik, Nagpur, Panvel in Maharashtra, and Villupuram in Tamil Nadu and a mall in Kolkata.
Choksi and jewellry businessman Nirav Modi are currently under investigation for cheating PNB of over Rs 12,000 crore in a scam that involved PNB employees as well.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.