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PNB Fraud: 24 Firms go Bankrupt

February 23, 2018

PNB Fraud: 24 Firms go Bankrupt

The massive Rs. 11,300 crore PNB fraud hasn’t just affected the public sector banks like the State Bank of India, Allahabad Bank, etc. but several businessmen and firms as well.
About 24 companies and 18 businessmen who were running franchise businesses under the jewelry brands of alleged fraudsters Mehul Choksi and Nirav Modi have filed for bankruptcy because of the mega fraud.
The businessmen had the franchise showrooms in various cities including Meerut, Agra, Delhi, etc.

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