BELAGAVI THURSDAY FEBRUARY 15, 2018 `5.00 PAGES 16 LATE CITY EDITION CASE AGAINST DIRECTOR OF VIRAL MALAYALAM FILM SONG The police registered a case based on a complaint that the lyrics of a song in Oru Adaar Love hurt religious sentiments of Muslims ‘OBJECTIONABLE TO PROPHET’S WIFE’ PRIYA NOT MENTIONED IN COMPLAINT The complainants claimed the song Manikya Malaraya Poovi in the film directed by Omar Lulu (pic) had an “objectionable” reference to Prophet Muhammad’s wife. They demanded that the song be removed from the film or its lyrics be changed. “There is nothing against Islam or Muslims,” said the director ■ ■ ■ After registering the complaint in Hyderabad, businessman Zaheer Ali Khan, engineering student Muqeeth Khan and others said actor Priya Prakash Varrier (above) was not mentioned in it “We don’t have any objection against the actors,” they said A clip from the song has gone viral on social media 17.3 mn TIMES THE SONG’S VIDEO WAS WATCHED ON YOUTUBE SINCE FEB 9 CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR PNB reports a massive black hole in books, 2-times govt’s cash infusion size, pegs it at Bahmani Utsav makes oppn see red, lands govt in controversy L113,630,000 EXPRESS NEWS SERVICE @ Bengaluru Finger of suspicion on billionaire jewellery designer Nirav Modi and a jewellery firm; more banks may be hit as they gave loans on PNB’s letter of comfort HOW THE DIRT SURFACED Three firms linked to Nirav Modi, his wife Ami Modi and Mehul Choksi - Diamonds R US, Solar Exports, Stellar Diamonds - approached PNB’s mid-corporate branch at Brady House, Mumbai for buyers credit in January to make payments to overseas suppliers through Letter of Comfort AMIT BANDRE A N U R A D H A S H U K L A @ New Delhi WHO IS NIRAV MODI Born into a family of diamond merchants, he is a well known jewellery designer and the founder of $2.3 billion Firestar Diamond First made it to the Forbes’ list of billionaires in 2013; ranked 86 out of 100 Indian billionaires Shot to fame after designing a jewellery set priced at `105 crore, one of the costliest ornaments made in India He’s the nephew of Geetanjali Gems owner Mehul Choksi Choksy was booked along with Nirav in first PNB fraud case THE Union government’s recent attempt to clean up the balance sheet of public sector banks appeared completely wasted on Wednesday, as India’s second largest bank was hit by fraudulent transactions worth `11,363 crore, which is double the `5,473 crore the Centre intends to infuse through recapitalisation and over eight times the bank’s net income of `13.2 billion. “The Bank has detected some fraudulent and unauthorised transactions (messages) in one of its branches in Mumbai for the benefit of a few select account holders with their apparent connivance,” the PNB said in a filing to BSE. According to sources, the branch manager in PNB’s Brady House branch in Mumbai issued fraudulent letters of undertaking, which were used as collateral to raise money from other banks. “The quantum of such transactions is USD 1771.69 Mio approx,” the PNB said, adding that the matter has been sent to the CBI. Though the bank did not name anyone, sources in both the CBI and the finance ministry pointed their fingers at billionaire jewellery designer Nirav Modi and a jewellery company. CBI sources said they received two fresh complaints from the PNB on the fraudulent transactions allegedly by Nirav Modi and a jewellery company The PNB had on . January 29 sent its first complaint to the CBI against Nirav Modi, Nishal Modi, Ami Modi SLIPPERY DAY 157 150.60 150.25 150.60 9.30 10.30 144.85 146.80 PNB 11.30 12.30 1.30 2.30 The firms contested it, saying they had availed the facility in the past Investigations showed that two bank officials had in the past fraudulently issued Letters of Undertaking to the firms without due diligence and Mehul Choksi, all partners of Mumbai-based firms Diamond R US, Solar Exports and Stellar Diamonds, on a `280 crore fraud. The complaint had also named Gokulnath Shetty, a retired PNB deputy manager and another bank functionary Manoj Hanumant Kharat. Based on the complaint, the CBI registered a case on January 31 accusing all the persons of criminal conspiracy and cheating. At that time, the PNB had said it was digging into records to see if the hit was much deeper. That figure has now shot up to `11,363 crore. “The case relates to Nirav Modi and Gitanjali Gems. Fraud letters of undertaking were issued by a branch manager in Mumbai,” a senior official from the finance ministry said, acknowledging it could impact other banks too. “Based on these transactions other banks appear to have advanced money to these customers abroad,” the PNB said in the filing. Reports are being sought from both Axis Bank and Allahabad Bank and one PSB. All three were duped in this particular case. The finance ministry has asked all other banks to send reports involving this case or other such incidents latest by the end of this week. “We will do whatever it takes,” said Rajiv Kumar, secretary, Department of Financial Services. The had PNB suspended its branch deputy manager and nine others in connection with the scam. (With inputs from Rakesh Singh and Sunitha Natti) BANK STOCK DIVES 155.50 153.40 PNB sought 100% cash margin since the firms did not have pre-sanctioned limit 3.30 PNB faced market wrath with its scrip plunging a steep 10% on Wednesday It lost about `4,075 cr in market cap - about a third of the fraud amount While SBI’s shares tanked 4%, the Nifty Bank index slipped over 5% These fraudulent letters were then transmitted across the SWIFT messaging system, based on which credit was offered to the firms PNB filed its first complaint on Jan 28 FIR was filed by CBI on January 31, 2018, against Nirav Modi, Ami Modi and Mehul Choksi On Jan 31, I-T sleuths raided premises of Nirav, Gitanjali New bad loan norm to add `2L cr stress on banks EXPRESS NEWS SERVICE @ Mumbai THE new NPA resolution framework announced on Monday, analysts say, will cause more short-term pain to the already stressed out bank balance sheets adding over `2 lakh crore worth bad loans to the existing pile of `10 lakh crore. The increase in NPAs is due to two reasons: one, RBI audit of banks’ balance sheets shows that lenders weren’t as forthcoming in recognising NPAs for FY17 and are now compelled to disclose them all. Two, the revised framework dictates the if one bank treats a particular account as an NPA, other lenders in the consortium must follow suit. The norm ensures uniformity, but it is likely that the overall NPAs would balloon significantly this fiscal. Moreover, the weekly reporting of default accounts with an aggregate exposure of at least `5 crore ensures early identification, but puts pressure on banks to part with capital towards requisite provisioning. The first such weekly report shall be submitted for the week ended February 23. “The streamlining of the NPA resolution process affords simplicity, timeliness and credibility and is long-term positive for the banking sector,” said Krishnan Sitaraman, senior director, Crisil. Lenders will now have to work out a resolution plan for defaults within 180 days, failing which the account would be referred to the bankruptcy courts. PAK LINK? Another army officer in big trouble EXPRESS NEWS SERVICE @ Bhopal An army officer in Jabalpur has been detained and is being questioned by the counter-intelligence wing of the military after they found an unusually large amount of money deposited in his financial accounts. The officer, a Lieutenant Colonel of the Corps of Electrical and Mechanical Engineers, was posted at the 506 Army Base Workshop (ABW) i n J a b a l p u r, M a d h y a Pradesh. The ABW is mainly responsible for the upkeep of infantry small arms and mortars. But its services have also been used by the Ordnance Factory Board’s Gun Carriage Factory that makes wheeled and towable platforms of howitzers. A source said that for the last six months, the officer used social media to stay in touch with a woman suspected to be working for the ISI. “His equipment has been seized and will be subjected to forensic tests,” said a n o f f i c e r. T h i s means his computer and mobile devices were being scrutinized. Last week, an Air Force officer based in New Delhi was handed over to the police after being questioned by the counterintellig ence wing. T he Group Captain was allegedly befriended by a woman over a social networking website. He had also allegedly used instant messaging services on his mobile phone to pass on information from the Air Headquarters, where he was posted in the directorate of training. There are strict directives from services’ headquarters to the officers and ranks that they should not use mobile phones and social networking sites. The BJP leaders do no know what exactly the district administration is doing. They are under the wrong impression that we are celebrating Bahmani Jayanti. It is not a Jayanti, it is a festival Sharanprakash Patil, Kalaburgi district-incharge minister THE Kalaburgi district administration’s decision to celebrate Bahmani Utsav has landed the Siddaramaiah government in a controversy ahead of the state assembly elections this year. The Opposition BJP and JD (S) have termed it as an attempt to appease the minority community, while some senior Congress leaders too have said “such exercises” are of no use. Distancing himself from the controversy, Chief Minister Siddaramaiah said he is not aware of the Bahmani Utsav and the state government has not taken a decision to organise it. “I have no information about minister Sharanprakash Patil’s statement about the ut- sav. You should ask him (the minister) about it,” he told mediapersons who sought his reaction to the BJP’s charge that the government has planned the Utsav to appease minorities. Government’s move to celebrate Tipu Jayanti too had come under severe criticism from the BJP . Earlier in the day, Medical E d u c at i o n M i n i s t e r a n d Kalaburgi district-in-charge minister Sharanprakash Patil told reporters in Kalaburgi that the district administration had planned to celebrate Bahmani dynasty’s contribution to the region by organising the Utsav on March 6 and it was being held along with the Rashtrakuta Utsav on March 4 and 5. UTSAVS ARE OF NO USE: P4 EXPRESS READ Siddu’s poll-vault budget on Friday likely to please all Army does not communalise: Northern Command chief Bengaluru: Presenting his record 13th budget in all and the 6th of the present Congress government on Friday, Chief Minister Siddaarmaiah is set to attain one more distinction as the budget size is set to cross the Rs 2 lakh crore mark. Siddaramaiah is said to have prepared a massive budget for 2018-19 to spread the P5 ‘feel good’ factor’. Udhampur: The Indian Army does not communalise, was Northern Command chief Lt Gen D Anbu’s response to AIMIM chief Asaduddin Owaisi’s pointing out that Kashmiri Muslims had laid down their lives in the Sunjuwan attack. “We take on the religion of our troops and we do not communalise any of them. There is ‘sarva dharma sthal’ in every formation,” he said. SERIAL BLASTS Suspected IM terrorist held in Delhi New Delhi: An alleged Indian Mujahideen (IM) terrorist, who was linked to serial blasts in UP, Gujarat and Delhi and had escaped during the Batla House encounter, was arrested from the Indo-Nepal Border, police said. A team of the Delhi Police’s Special Cell arrested Ariz Khan (32) from Banwasa on Indo-Nepal border, said PS Kushwah, DCP(Special Cell). “Khan was involved in reviving IM and SIMI in the country after the arrest of its big leaders. He was absconding since a decade,” Kushwah said.
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