It's been almost 4 days since India found it's second Vijay Mallya, yet not many of us have understood the answers to the entire How - What - When - Why series of questions. I went through a couple of sites, Whatsapp messages and realized that more or less the story remained the same. Here is one such site which explains the entire scam beautifully and in detail. An excerpt from the article: The Scam, and How It Stands Punjab National Bank announced a big fraud of Rs. 11,000 cr.+ in a surprise letter to the stock exchanges.And then, it apparently shot off a message to a bunch of banks, blaming a now retired employee for raising fraudulent Letters of Undertaking for over six years. And blaming the people who received the funds, companies owned by a jeweller named Nirav Modi, and in another case, those owned by Mehul Choksi, such as the publicly listed Gitanjali Gems. Nirav Modi is Choksi’s nephew. (As trivia: Nirav Modi’s brother, Nishal, is married to Ishita Salgaokar, ...