PNB scam: ED issues summons to Nirav Modi's father, sister
New Delhi, May 18: The Enforcement Directorate (ED) has issued summons to absconding diamantaire Nirav Modi's father Deepak Modi, sister Purvi Mehta and her husband Mayank Mehta as part of its probe in the multi-crore Punjab National Bank (PNB) fraud, an official said here on Friday.
The fraud was committed during 2011-17 by illegally issuing Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs).
Deepak, Purvi and Mayank have been asked to appear before the ED investigators at its Mumbai office to record their statements in the case as the agency is in the process of filing chargesheet in a special Prevention of Money Laundering Act (PMLA) court in Mumbai, expectedly by the next week.
ED investigators said Nirav Modi's relatives were summoned in the first week of this month and were given 15 days time to appear before it in the ongoing money laundering probe of over Rs 13,000 crore. The alleged banking fraud was committed by the diamond merchant, his group of companies -- Diamond R US, Solar Exports and Stellar Diamonds -- alongwith uncle Mehul Choksi and others.
An ED official said that further notices would be issued to the three in case they fail to respond to the first summons, an ED official told IANS on condition of anonymity.
Deepak is reportedly based in Antwerp in Belgium, while Purvi and her husband are settled in Hong Kong. "They were sent the summons through mail," the official said.
Purvi is under ED's radar for her alleged role in round-tripping of Nirav Modi's laundered money via Foreign Direct Investment (FDI) back to India while her husband is suspected of supporting the diamond merchant in similar operations.
The multi-crore fraud was committed in connivance with PNB's Mumbai Brady House branch officers between 2011-17.
The ED had started money laundering probe against Nirav Modi, his brother Nishal, wife Ami and others, based on the Central Bureau of Investigation's (CBI) FIR lodged on January 31, following PNB's first complaint against the businessman for allegedly cheating it of Rs 280.70 crore.
ED investigators have claimed to have traced over Rs 5,000 crore assets of Nirav Modi so far. The official said that the crores said to have been sent as FDI transactions from Singapore-based firm Islington International Pte Ltd, whose beneficiary owner is stated to be Purvi's husband, are doubtful in nature.
The ED investigations is also based on Income Tax department's February report to the Central Board of Direct Taxes (CBDT) and the Union Finance Ministry against Nirav Modi and his uncle Choksi in which it is reportedly mentioned that nearly Rs 4,900 crore transactions were unexplained.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Karnataka SSLC question papers to have new format for academic year 2024-25
Bengaluru: In a significant shift, the Karnataka School Examination and Assessment Board (KSEAB) has reportedly announced changes to the format of the SSLC annual exam question papers for the academic year 2024-25 and released a blueprint outlining these revisions. This overhaul, the first major revision since 2019-20, is aimed at enhancing the quality of learning and reducing students' dependence on rote memorisation.
Marks will now be allocated based on themes rather than individual chapters, with a focus on key concepts, according to a report published by The Hindu on Monday. For instance, language papers can be organised around themes such as prose, poetry, and grammar, while core subjects will feature units that combine multiple lessons.
A significant component of this change is the reintroduction of a weightage system based on learning objectives, which includes: remembering (20%), understanding (40%), and application (20%). In addition, 15% of the marks will be allocated to skills such as diagram drawing, while 5% will focus on higher-order thinking questions that encourage critical analysis and problem-solving.
“This method ensures equal importance is given to all chapters during teaching and learning. Teachers and students can move away from the practice of preparing for exams solely based on chapter-wise marks allocation. While specific marks are not assigned to individual chapters, clear weightage is given to relevant themes. This approach guarantees comprehensive practice for each chapter and allows for diverse question types in the exams,” the blueprint stated, as cited by the news outlet.
Key changes also include a reduction in the number of one-mark and two-mark questions, in favour of more three-mark and four-mark questions and the introduction of one five-mark question.
The blueprint mentioned that one-mark questions, which often lead to guesswork, would be replaced with more descriptive questions that challenge students to think critically, write extensively, and refine their expression skills.
The updated question paper format will include 45 questions for the first language, and 38 questions for other subject papers. Some of the three-mark, four-mark, and five-mark questions may contain sub-questions. Additionally, internal choice questions, worth a total of 20 marks, will continue to be part of the exam and will be based on the same themes and chapters as the primary questions.
Despite these revisions, KSEAB has clarified that the overall difficulty level of the exams will remain unchanged. The distribution of marks will continue to follow the same pattern as in previous years, with 30% of questions considered easy or very easy, 50% of average difficulty, and 20% deemed difficult.
