PNB SCAM (Nirav Modi) The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹11,356.84 crore (US$ 1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount.[1] The fraud was allegedly organized by jeweller and designer Nirav Modi. Nirav, his wife Ami Modi, brother Nishal Modi and uncle Mehul Choksi, all partners of the firms, M/s Diamond R US, M/s Solar Exports and M/s Stellar Diamonds; along with PNB officials and employees, and directors of Nirav Modi and Mehul Choksi's firms have all been named in a chargesheet by the CBI.[2] Nirav Modi and his family absconded in early 2018, days before the news of the scam broke in India.

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2. • A scam is a term used to describe any fraudulent business or
scheme that takes money or other goods from an unsuspecting
person.
• With the world becoming more connected thanks to the Internet,
online scams have increased, and it's often up to you to help stay
cautious with people on the Internet.
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3. • POLITICAL SCAM
• EDUCATION SCAM
• BANKING SCAM
• SPORTS SCAM
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4. • Punjab National Bank (PNB) is an Indian public sector banking.
• PNB has a banking subsidiary in worldwide.
• The bank was founded in 1894.
INTRODUCTION ABOUT PNB
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5. • Nirav Deepak Modi (born 27 February 1971) is a fugitive Indian businessman, wanted by
the Interpol for criminal conspiracy, criminal breach of trust, etc since August 2018.
• 2010: 1st Indian jeweler to be featured on the covers
of Christie's and Sotheby’s Catalogues.
• 2013: Featured on the Forbes list of Indian billionaires
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7. NIRAV MODI
PNB BANK
(Gokulnath Shetty
Manoj Kharat)
FOREIGN
BANK
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8. Rajesh Jindal(General Manager PNB)
Gokulnath Shetty (Deputy Manager PNB)
Manish K Bosamiya Additional General Manager (operation) of Firestarter
Diamond International Pvt Ltd.
Miten Anil Pandya Finance Manager of Firestarter Diamond International Pvt
Ltd.
Mohinder Kumar Sharma (internal chief auditor PNB)
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10. Section 276 C : Wilful attempt to evade tax.
Section 277 A : False statement in Verification.
Section 278 B : Offences by companies.
Section 278 E : Presumption as to capable mental states
of income tax act , 1961
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11. UAE HONG KONG LONDON
INDIA
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12. • Huge loss to Banking Industry
• Share value of PNB decreased.
• Changes in plans & policies of bank.
• PNB scam impact Jeweler exporters fear biz will shift to China, Thailand.
• Exports growth decreased that year with shipments hovering near last year’s levels.
• Rupee Value decreased.
• Indian Jewellery market reputation decreased on Global market.
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13. • On 1 March 2018, the government approved the Fugitive Economic Offenders Bill.
• Reserve Bank of India scrapped banking instruments.
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