PNB scam: Mumbai court issues non-bailable warrant against Nirav Modi, Mehul Choksi

In February 2018, it had emerged that the fraudulently issued Letters of Undertaking (LoUs) from the Mumbai branch of PNB in favour of Hong Kong branches of Allahabad Bank and Axis Bank. These letters helped facilitate Rs 280.7 crore fraud by jewellery designer Nirav Modi among others.

from Zee News :India National https://ift.tt/2EtWbv2