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Police protection for Ghulam Ali during Mumbai visit

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Mumbai: Pakistani ghazal maestro Ghulam Ali, who will arrive Mumbai on Thursday for the music launch will be given full police protection on demand of makers of movie ‘Ghar Vapsi’.

The film, directed by Suhaib Ilyasi of “India’s Most Wanted” fame, marks Ghulam Ali’s acting debut and he has also sung an Indian patriotic song for it.

“I will request the Mumbai police and the Maharashtra government to provide protection to Ghulam Ali saab during his stay in Mumbai. There is a threat to Ali saab by Shiv Sena. They did not allow him to perform in India last year,” Ilyasi said.

Ghulam Ali’s concerts in Mumbai and Pune were called off in October last year after the Shiv Sena threatened to disrupt his live performance. Ilyasi is hopeful that the singer’s presence at his film’s music launch on Friday will be trouble-free.

“We hope Maharashtra government treats him as an important dignitary and we hope he has a safe stay in Mumbai,” Ilyasi said.

He said his film is “about the latest debate on intolerance”.

“Films are the reflection of our society and this film reflects about whatever is happening in our country,” added the filmmaker. While there were protests in Maharashtra against the concerts Ghulam Ali, Kerala government had invited him.(IANS)

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Punjab National Bank detects $1.8 bn fraud at a Mumbai branch, Links to Nirav Modi

Punjab National Bank, the second largest public sector bank in India

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Punjab National Bank is India's second largest bank. Wikimedia Commons
Punjab National Bank is India's second largest bank. Wikimedia Commons
  • Punjab National bank has detected a $1.8 billion fraud
  • The fraud happened in their Mumbai branch
  • The matter has been referred to law enforcement

Punjab National Bank, the second largest public sector bank in India, has detected a $1.8 billion fraud in one of its branches here, the bank said in a regulatory filing to the stock exchanges on Wednesday.

Punjab National Bank experiences a fraud of $1.8 bn.
Punjab National Bank experiences a fraud of $1.8 bn.

“The bank has detected some fraudulent and unauthorised transactions (messages) in one of its branch in Mumbai for the benefit of a few select account holders with their apparent connivance,” the filing by the bank said.

It had quoted the quantum of such transactions was to the tune of around $1,771.69 million (around Rs 11,515 crore).

The amount of fraudulent transactions is equivalent to eight times the bank’s net income of about Rs 1,320 crore ($206 million).

Also Read: Raghuram Rajan: The Man Who Revolutionized The Indian Banking System

This case has happened at a time when the Indian banking system is already grappling to tackle its swelling non-performing assets.

“Based on these transactions other banks appear to have advanced money to these customers abroad. In the bank these transactions are contingent in nature and liability arising out of these on the bank shall be decided based on the law and genuineness of underlying transactions,” the filing said.

Punjab National Bank's Mumbai branch is now under high scrutiny. Wikimedia Commons
Punjab National Bank’s Mumbai branch is now under high scrutiny. Wikimedia Commons

The bank informed: “The matter is already referred to law enforcement agencies to examine and book the culprits as per law of the land.”

On February 5, the Central Bureau of Investigation had booked billionaire diamond service provider Nirav Modi, his brother, wife and an enterprise companion for allegedly cheating Punjab National Bank of over Rs 280.70 crore last year.

Also Read: Con man in Delhi Duped Amazon for over Rs. 50 Lakh; Arrested by Delhi Police for Fraud

Following the complaint, the CBI registered a FIR under the Indian Penal Code sections related to criminal conspiracy, cheating and provisions of the Prevention of Corruption Act against the four.

The stock of Punjab National Bank was trading at Rs 149.20 per share, down 7.70 percent at the BSE at 1.59 p.m. IANS

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