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PNB fraud: ED expands probe; writes to 16 more banks

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PNB fraud: ED expands probe; writes to 16 more banks

If the ED finds out ‘bending of norms’ in cases of other banks, the quantum of losses to banks caused by Modi & Choksi will swell up to nearly Rs 20,000 crore

Expanding its probe in the Rs 11,400-crore Punjab National Bank (PNB) fraud against diamantaires Nirav Modi and Mehul Choksi, the Enforcement Directorate (ED) has now raised questions over the credibility about these public sector banks to keep the public money safe.

Reportedly, the ED has written to 16 banks, other than PNB, seeking information of all loans offered to the two businessmen – including present status of the loans, the form & nature of the loans, and collateral offered against these loans. According to sources, if  ED finds out ‘bending of norms’ in cases of other banks too, the quantum of alleged losses caused by them to banks will swell up to nearly Rs 20,000 crore.

Stating that ED Director Karnal Singh has written to the banks for details of the loans, an official said, “We are at present seeking information from banks which have given bigger loans. We have learnt that these loans have been granted at collaterals which are just 12 per cent of the total value of the loans. We want to see on what basis these loans were granted and whether these are still recoverable. However, we have not asked any bank to file a complaint with us.”

Sources have further stated that the CBI and ED probe into the case of fraud – which was perpetrated by Modi and Choksi on PNB – shows that more than two dozen banks may have been exposed to loans ranging between Rs 5,000 crore and Rs 10,000 crore.

While the two prime accused have left the country just before PNB lodged a complaint against them, both Modi and Choksi haven’t yet replied to any official summons – whereas the two defaulters are unlikely to be in a position to pay back the loans, with the authorities having attached their properties.

Earlier on February 16, seeking response within a week on to why their passports should not be impounded or revoked, the Ministry of External Affairs suspended the validity of Modi and Choksi’s passports with immediate effect for a period of four weeks.

According to sources, Mehul Choksi and his companies Geetanjali Gems, Gili India and Nakshatra Brand owed close to Rs 3,000 crore in the form of 37 bank loans till March 31, 2007. On the other hand, the total outstanding loans taken by Nirav Modi’s firms amounts to Rs 3000 crore from 17 banks – Central Bank of India (Rs 194 crore), Dena Bank (Rs 153.25 crore), Vijaya Bank (Rs 150.15 crore), Bank of India (Rs 127 crore), Syndicate Bank (Rs 125 crore), Oriental Bank of Commerce (Rs 120 crore), Union Bank of India (Rs 110 crore), IDBI Bank and Allahabad Bank (Rs 100 crore each).

A former Price Waterhouse Coopers auditor said, “It is perplexing how banks kept advancing loans on such low profits and without probing who these sundry debtors were. It is normal practice to check each and every sundry debtor, particularly in this case where the amounts were so huge, before advancing fresh loans.”

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Mohanlal’s Stephen returns in fearsome form in L2: Empuraan Teaser

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Mohanlal as Stephen Nedumpally in the teaser of L2: Empuraan

The much-anticipated teaser for L2: Empuraan, the second chapter of the planned trilogy directed by Prithviraj Sukumaran, has been unveiled, offering a glimpse of a darker, more brutal narrative. Starring Malayalam cinema legend Mohanlal, the film continues the story of Stephen Nedumpally, also known as Khureshi Ab’raam, a character that mesmerized audiences in Lucifer.

The teaser debuted at a grand event attended by the film’s key players, including Mohanlal, Prithviraj, and Mammootty, who released the teaser in style. Clocking in at 143 seconds, the preview immediately sets a grim tone, beginning in Qaraqosh, a war-torn town in Iraq. The atmosphere is tense, underscored by the chilling phrase, “Death to the Evil.”

One of the standout moments in the teaser recalls PK Ramdas (Sachin Khedekar) advising Priyadarshini (Manju Warrier) in the first film: “If one day you feel everything is falling apart and I’m not around, the only person you can turn to is Stephen.” This sentiment reverberates through the teaser as it shifts to Stephen’s iconic black Ambassador car, now layered with dust—an ominous sign of his long absence.

The suspense builds as a voice declares, “He leads the most powerful mercenary group in Asia,” introducing audiences to Stephen’s transformation into a figure commanding immense influence and fear. The teaser’s climactic moments highlight Mohanlal’s commanding return as Khureshi Ab’raam, warning of the perils of dealing with the devil.

Star-Studded Cast and Stellar Crew

Joining Mohanlal in this cinematic spectacle are Manju Warrier, Indrajith Sukumaran, Tovino Thomas, and others reprising their roles from Lucifer. The film also features Saniya Iyappan, Saikumar, Baiju Santhosh, Fazil, and Sachin Khedekar in key roles.

The story, penned by Murali Gopy, is brought to life with the expertise of cinematographer Sujith Vaassudev, editor Akhilesh Mohan, and composer Deepak Dev, whose score amplifies the teaser’s intensity.

As the teaser hints at power struggles, deceit, and vengeance, L2: Empuraan sets the stage for an explosive continuation of this gripping saga, leaving fans eagerly awaiting its release.

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MSBTE Result 2025 declared: Maharashtra diploma winter exam results now available online

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MSBTE Result 2025 announcement for Winter Diploma exams

The Maharashtra State Board of Technical Education (MSBTE) has officially announced the results for the Winter 2024 diploma exams. Students who appeared for these exams, held in December 2024, can now access their results on MSBTE’s official website, msbte.org.in.

To check the MSBTE Winter Exam Result 2025, candidates must have their enrollment or seat numbers ready. The results are accessible via a direct link available on the website.

Steps to check MSBTE 2025 results:

  1. Visit the official MSBTE website: msbte.org.in.
  2. Navigate to the “Examination” section and click on “Winter 2024 Exam Result.”
  3. Enter your enrollment number or seat number in the required fields.
  4. Click on the “Show Result” button to view your marksheet.
  5. Download and save the PDF for future reference.

Details mentioned on the MSBTE Winter Diploma results:

The MSBTE Winter Diploma Marksheet 2025 includes the following information:

  • Student’s name
  • Register number
  • Course name
  • Marks obtained in each subject
  • Subject codes and names
  • Total marks
  • Maximum marks
  • Result status (Pass/Fail)

The announcement is crucial for diploma students across Maharashtra as it determines their academic progress and eligibility for future courses or career opportunities.

Students are advised to verify all details on their marksheets and contact the board in case of discrepancies. For further updates, visit the official MSBTE website.

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JPC clears Waqf Amendment Bill with 14 changes, Opposition cries foul

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The Waqf Amendment Bill is poised for a final vote on January 29 in the Joint Parliamentary Committee. The committee had been tasked with reviewing the bill by November 29, which was then extended to February 13, approved 14 changes to the draft. The 44 amendments proposed by the Opposition were rejected by its chairman BJP MP Jagadambika Pal.

The Opposition had accused the BJP of bias in several sittings of the committee leading to the suspension of several MPs, including Kalyan Banerjee of Trinamool Congress and Asaduddin Owaisi of the AIMIM, both vocal critics of the Bill.

The Opposition MPs had also written to Speaker Om Birla against Pal, saying he was rushing the Bill to gain political mileage ahead of the Delhi Assembly election due to be held on February 5.

Earlier, reports had said Banerjee had broken a glass during a verbal altercation while in deliberations with BJP MP and former Calcutta HC judge Abhijit Gangopadhyay.

The Bill aims to reform Waqf Board administration, mandating the inclusion of non-Muslim and women members. The Central Waqf Council’s composition would also change, incorporating a Union minister, MPs, ex-judges, and individuals of national repute, regardless of religious affiliation. Crucially, the Council’s land acquisition powers would be removed. A controversial clause restricts donations to Muslims practicing their faith for at least five years, prompting concerns about religious freedom.

While proponents claim the bill empowers Muslim women and children, critics, including the Congress and the DMK, allege it infringes upon Articles 15 and 30 of the Constitution, which guarantee freedom of religion and the right of minorities to administer educational institutions. The final report is expected by January 31.

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