The Punjab National Bank (PNB) believes that it can make back the losses incurred from the Nirav Modi fraud scandal in six months and the bank’s CEO, Sunil Mehta, has some words for the diamond tycoon.
The Vice President of the Firestar Group, Shyam Sunder, has been arrested by the law enforcement agency, Enforcement Division (ED), as part of the Nirav Modi fraud case at the Punjab National Bank (PNB).
Indian federal agents said on Monday they had launched an investigation into billionaire jeweller Nirav Modi, one of the country's richest men, over accusations that he and others defrauded a state bank of $44 million.
Nirav Modi, is continuing its international expansion, after opening standalone stores on New York’s Madison Avenue, Delhi and Hong Kong in 2015. This year, the company is set to launch new stores in London, Miami, Be...