Wed, Mar 28, 2018
PNB fraud case: Shyam Sunder Wadhwa was arrested in Mumbai on Tuesday night after questioning, said the ED official, adding it was the first arrest by the agency in the case. Informed sources said Wadhwa was accused of conducting fraudulent transactions with Firestar International and Firestar Diamond International owned by Nirav Modi, who along with his group companies -- Diamond R US, Stellar Diamond and Solar Exports -- and others have been implicated in the Rs 13,500 crore scam which was admitted by the PNB in February, leading to a massive upheaval in the country`s banking system
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