Thursday, 19 May, 2022
TopicPNB

Topic: PNB

PNB Housing files appeal in SAT against SEBI order to halt Rs 4000 crore Carlyle deal

The company approached Securities Appellate Tribunal ahead of its EGM scheduled for 22 June to seek shareholders' approval for the proposal to raise capital through the Carlyle deal.

SEBI orders PNB Housing to halt Rs 4,000 crore fundraising deal with Carlyle group

SEBI said the resolution regarding the deal, which was to be put to a shareholders' vote on 22 June, was 'ultra-vires' or beyond the powers of the company's Articles of Association.

After 3 scandals in 3 years, PNB plans an image makeover, expects profits

Fraud-hit PNB is clearing a backlog of provisions and expects to post net income in every quarter of fiscal 2020-21.

Nirav Modi begins legal battle to stop his extradition to India from UK

On second day of week-long hearing in London, Modi’s lawyer sought to cast doubt on allegations the jeweller fraudulently procured guarantees from PNB.

Nirav Modi, wanted in India for loan fraud, remanded to judicial custody till 19 Sept in UK

Diamond merchant Nirav Modi has been lodged at London's Wandsworth prison since his arrest this March in connection with the PNB fraud and money laundering case.

‘Need a stadium, not a courtroom’ — 70,000 page Bhushan Steel chargesheet names 284

Bhushan Power and Steel had defaulted on a Rs 47,700-crore loan in 2017. Last week, PNB alleged it had also committed a Rs 3,815 crore scam.

PNB reports another NPA scam of Rs 38 billion, after the massive Nirav Modi fraud last year

Punjab National Bank reported the new fraud to the Reserve Bank of India. The fraud took place at its Chandigarh branch, and in its Hong Kong and Dubai offices.

‘Modi’s ouster on 23 May will be India’s fitting reply to the most foul-mouthed PM’

A selection of the best news reports, analysis and opinions published by ThePrint this week.

Smaller banks to be merged with PNB & Canara Bank in next round of consolidation

Finance ministry officials say mid-sized and small government lenders have been identified for separate merger processes with PNB and Canara Bank.

PNB finally emerging from Nirav Modi, Mehul Choksi’s shadow, reports profit

Punjab National Bank reports Rs 247 crore profit for December quarter, first since being afflicted by the Modi-Choksi scam in January last year.  

On Camera

YourTurn

PT Pertamina Balongan refinery in Indramayu, Indonesia | Representational image | Bloomberg

Asian refiners to ramp up gasoline exports to US as sky-high prices beckon

In Asia, gasoline margins have doubled to more than $33 a barrel since the end of March and have edged above those for diesel, which have eased from a peak in early May.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.
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