Vijay Aggarwal Advocate - Latest News

Endeavors to declare wanted Diamond Merchant Nirav Modi a FEO (Fugitive Economic Offender) by law enforcement agencies were deferred further as hearing on this case has delayed further by special Mumbai Session Court until it is endowed with the proper powers.   UM Mudholkar, a special judge, stated in his order that courts considering such issues must have powers under both, the one assigned for the Central Bureau of Investigation or Anti-Corruption Branch & the second one the Prevention of Money Laundering Act. He further said “This court is presented only with powers under the PML Act.   In an application by Nirav Modi, documented via Senior Advocate VijayAggarwal , had withstood that court under Prevention of Money Laundering Act (PMLA) is a assigned court, it was not assigned under the PCA ( Prevention of Corruption Act ).    The judge said “passing of any effective order in such situation by this court would not be legitimate”. The no...

In the history of India, PNB Fraud Scandal has become the 2 nd biggest state run lending cases which astound the financial arena of our country. It was found that the fraud of Rs 11, 400 crores had happened at a branch located in Brady House in Fort, Mumbai. During the initial investigation, it was developed that the branch was issuing the unlawful bank guarantees from many years to these two renowned jewelry groups – Nirav Modi & his uncle Mehul Choksi . They were alleged for raising billions of dollars in the foreign credit which led them to commit this well-known bank scandal of India. This is one of the frauds happened in India which not just shook the country but also shook the banking sector to a great extent.   What Exactly Happened? On dated 29-01-2018, Punjab National Bank lodged a criminal complaint against 3 companies & 4 people. It includes jewelry billionaire Nirav Modi , Mehul Choksi (his uncle), Managing Director of Gitanjali Gems , stating that...